All Eyes on Upcoming CPI Data to Set Tone for Markets

plus Genesis/DCG developments, Canada USDT FUD, and more layoffs

Daily Bullets - Wednesday, January 11th

A mix of interesting developments going into tomorrow’s CPI which should give a clearer idea of whether the recent bullish momentum will continue or not. Expect volatility! Genesis/DCG story continues developing, GALA backtracks major announcement, Canada USDT FUD, layoffs and hiring and the comically bad Game of Thrones NFT collection art.

Daily Bullet Highlights

Gemini is terminating customer loan agreements with Genesis Global Capital as it winds down its Earn program

Bitvavo, a Dutch crypto trading platform, rejects offer from DCG to repay 70% of its debt arguing that DCG has enough funds available for full repayment

Judge allows Binance US bid to buy bankrupt crypto lender Voyager's assets to advance. The sale will allow customers to recoup 51% of the value of their deposits

FTX has recovered more than $5B in different assets, not including another $425M in crypto held by the Securities Commission of the Bahamas

Twitter developing a new feature that will allow users to give each other “Awards” using “Coins” that can be purchased with fiat currency using Stripe

ConsenSys, the developer of the crypto wallet MetaMask, plans to lay off 100 staffers or more

Binance CEO plans to continue to scale in 2023, with headcount growth goals of between 15% and 30%

Crypto.com delisting USDT from its trading platform for users in Canada after the Canadian Securities Administrators committed to stronger oversight following the FTX collapse

Game of Thrones’ NFT launch sold out despite delays and art faces criticism

Wild Wednesday: A feature on unpredictable and volatile events

An announcement earlier in the week by Gala Games for a partnership with Hollywood stars Dwayne "The Rock" Johnson and Mark Wahlberg caused Gala to pump but now that the tweet has been deleted, the coin’s price dumped.

This highlights how wild and volatile catalysts can behave and the risks of trading news based events.

Crypto News

Arbitrum and Optimism transactions now exceed Ethereum

Web3 accelerator Beacon, created by Polygon co-founder Sandeep Nailwal, has wrapped up its first cohort with 13 graduating companies

Goldman Sachs new Digital Asset Platform, GS DAP™, is live– one year into their engagement of Digital Asset

MicroStrategy sold 1,261,744 of its shares, a 13.5% stake, to Group One, a trading firm specializing in options trading

Ark Invest's make a $1.45M COIN stock purchase marking the firm's eleventh buy in less than a month

Scallop, a regulated on-chain banking app, has integrated Chainlink Automation on the BNB Chain mainnet

Gitcoin Alpha Round starting Janurary 17th - a Quadratic Funding round that will support three rounds, 200 grantees, and a $1M total matching pool

Crypto Exchanges

Binance acknowledged that its Binance-peg BUSD stablecoin hasn't always been backed fully with reserves, but has now fixed the problem

Robinhood issued an email to users stating that it has decided to end support for Bitcoin SV (BSV) on January 25

Coinbase Global Inc. is closing the bulk of its operations in Japan

Binance wins seventh approval in Europe with Swedish Regulator. Follows those in France, Italy, Lithuania, Spain, Cyprus and Poland

DeFi

Ondo Finance, a DeFi firm offering decentralized investment opportunities, has launched tokenized versions of U.S. treasuries and bonds with over 8% yield on stablecoins

NFTs/Gaming/Metaverse

Art Blocks Friendship Bracelet NFT Collection - free to mint for holders of existing Art Blocks NFTs - 7,437 ETH volume in first 24H

Axie Infinity: Origins Season 2. New gameplay. New rewards
Hardware wallet company Ledger is adding a blockchain game, Cometh Battle, to its Ledger Live app

Early Stage Projects

Decentralized social media protocol Lens Protocol released a new feature called “token-gated publications”

BitDAO launched testnet for its modular ETH Layer 2 network project - Mantle. 37,000 developers signed up for the launch

Holograph, which creates multichain digital assets, is live on the Ethereum, Polygon, & Avalanche mainnets

DeltaPrime launches a new native undercollateralized borrowing protocol on Avalanche

MYSO v1 protocol officially live on Ethereum Mainnet

GumBall Protocol is officially live on Arbitrum

Introducing Lumina Labs - new project to make Solana transactions more readable for everyday users

ETHx litepaper is live - Stader’s new LSD

Ajna whitepaper - a lending protocol with no governance, permissions or external price feeds (oracles)

Launch of Jupiter Terminal - an open-source and customizable swap UI

Economic/Government/Regulatory

BlockFi creditors have requested that their personal information remain secret while the U.S. Department of Justice argued that “disclosure is a basic premise of bankruptcy law”

Indian crypto exchange WazirX released its proof of reserves report and disclosed that 90% of its user assets are held in Binance wallets

Fundraises

Abu-Dhabi based Venom Foundation and Iceberg Capital are partnering to invest $1B in a host of web3 applications

Seidr receives seed round led by a16z to crafting the next generation of action packed, cross-platform multiplayer gaming experiences @seidrofficial

Quasar Finance, a decentralized asset management protocol using the IBC technology released by the Cosmos raised $5.4M at a $70M valuation. Led by Shima Capital. Investors: Polychain Capital, Blockchain Capital, HASH Capital, CIB and Osmosis co-founder Sunny Aggarwal - @QuasarFi

Jumbo, a DEX built on the NEAR Protocol, raised $3.5M led by Pantera and Huobi Incubator. Other Investors: DWEB3, D21 Ventures, Metaweb Ventures, Fundamental Labs, Proximity, and Genblock Capital - @jumbo_exchange

TerraCVita raised $1M for Terraport DEX - @TerracVita

Research/Reads

Death and self-custody: How to pass on your crypto when you die - source

6 crypto investors talk about DeFi and the road ahead for adoption in 2023 - source

Introducing: Opt-In Programmable Royalties (and more) Through Staking by Limit Break - source

MEV: The Next Five Years - source

Governor Note: Usage-Based Governance with Sybil Resistance - source

Twitter

Arkham's primer on Liquid Staking Derivatives:

Ethereum's Shanghai upgrade is due in March 2023, enabling withdrawals from the beacon chain.
This allows ETH currently staked in ETH2.0 validators to be unstaked and withdrawn.
Here's Arkham's primer on Liquid Staking Derivatives, and what we can see happening on-chain 👇
— Arkham (@ArkhamIntel)
Jan 10, 2023

Twitter & Coins sneak peak:

Twitter is working on Coins purchasing screen
On the web, Twitter Coins purchase will be done through Stripe twitter.com/wongmjane/stat…
— Jane Manchun Wong (@wongmjane)
Jan 10, 2023

Different NFT 2023 predictions:

1/14 Fascinating thread of NFT predictions for 2023 by @0xPrismatic 🙏
But as a deep-in-the-weeds NFT-DeFi builder, I don't agree with everything.
My (possibly very bad) take 🧵👇 twitter.com/0xPrismatic/st…
— ilmoi | Tensor 📈⚡️ (@_ilmoi)
Jan 10, 2023

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