Santu (@others) • Hey

The sandbox mod. Web3.0 lover.

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Publications

U.S. SECGov's Gary Gensler says crypto belongs in the securities world and will be regulated that way. The agency’s decision to fold DeFi into a proposal for a new definition further underlines that the crypto movement won’t get tailored regulations.
The European Parliament approved MiCA, the EU’s crypto-assets framework, this week. Forefront Advisers managing director and head of digital assets @deamarkova explores how MiCA will influence how non-EU states regulate digital assets. [Is Europe’s MiCA a Template for Global Crypto Regulation?](https://www.coindesk.com/consensus-magazine/2023/04/20/is-europes-mica-a-template-for-global-crypto-regulation/) Formally enacted Thursday, the EU’s Markets in Crypto-Assets Regulation is the most comprehensive framework of its kind. How will it influence how non-EU states regulate digital assets?
"A healthy retest of the support zone between $25K to $27K is a positive sign for a continued move up," says Joe DiPasquale, CEO of BitBull Capital. [First Mover Asia: What's Next After Bitcoin's Retreat](https://www.coindesk.com/markets/2023/04/24/first-mover-asia-whats-next-after-bitcoins-retreat/) ALSO: CoinDesk columnist David Morris writes that Taylor Swift's avoided the embarrassment of striking a business deal with embattled crypto exchange FTX by reportedly asking the type of common-sense questions that should be part of any business negotiation.
What coin/token would you invest your last $100 in?
China has been making efforts to internationalize the yuan and increase its use in global trade and investment it still has a long way to go to catch up with the euro and the yen in terms of international status and liquidity.
If the yuan is going to topple the dollar, it will have to get past the euro and the yen first [The Dollar’s Demise May Come Gradually, But Not Suddenly](https://www.bloomberg.com/opinion/articles/2023-04-23/dollar-may-fall-to-yuan-crypto-but-not-soon-niall-ferguson) Rumors of the death of the US currency are as exaggerated as they are frequently repeated.
Some crypto analysts are projecting Bitcoin will top $50,000 next year courtesy of a process known as halving that curbs the supply of new tokens [Bitcoin ‘Halving’ Due Next Year Spurs Predictions of Rally in Token Past $50,000](https://www.bloomberg.com/news/articles/2023-04-23/bitcoin-btc-halving-in-2024-spurs-predictions-of-rally-past-50-000) Bitcoin’s rebound is just the start of a rally that will take it past $50,000 next year courtesy of a process known as halving that curbs the supply of new tokens, according to projections from crypto analysts.
Celsius attracted two new bidders in a three-way auction set for Tuesday, according to a filing by Kirkland & Ellis, which is overseeing the crypto lender's bankruptcy [Failed Crypto-Lender Celsius Auction Attracts Arrington, Gemini](https://www.bloomberg.com/news/articles/2023-04-23/failed-crypto-lender-celsius-auction-attracts-arrington-gemini) Failed crypto lender Celsius Network Ltd. has attracted two new bidders in a three-way auction set for Tuesday, according to a Saturday filing by Kirkland & Ellis, which is overseeing the bankruptcy.
A former US Secret Service agent supported anonymity for creditors in the FTX bankruptcy because of risks from the criminals who stalk the cryptocurrency sector [Former US Secret Service Agent Cites Crypto Crime to Back Anonymity for FTX Creditors](https://www.bloomberg.com/news/articles/2023-04-21/ex-us-secret-service-agent-backs-ftx-creditors-anonymity-on-crypto-crime-risk) A former US Secret Service agent who specializes in probing financial cybercrime supported anonymity for creditors in the FTX bankruptcy because of risks from the criminals who stalk the cryptocurrency sector.
The vast majority of investors think the dollar will fall further as they bet the Fed will pivot to cutting interest rates, a Bloomberg survey shows [Four Reasons Why Investors Expect US Dollar to Keep Sliding](https://www.bloomberg.com/news/articles/2023-04-24/four-reasons-why-investors-expect-us-dollar-to-keep-sliding) Professional investors see the dollar sliding even further from last year’s two-decade highs, as the market has underpriced the Federal Reserve’s oncoming easing cycle.
Gemini, the U.S.-based crypto exchange, revealed that it plans to open a derivatives platform outside the country. [Gemini to Open a Crypto Derivatives Platform Outside the U.S.](https://www.coindesk.com/business/2023/04/21/gemini-to-open-a-crypto-derivatives-platform-outside-the-us/) Gemini Foundation's first product will be a perpetual bitcoin (BTC) contract, the company said late Friday.
America's first nuclear powered Bitcoin mining farm in Pennsylvania announces full deployment of miners
Terraform execs Do Kwon and Han Chang-jun are charged with document forgery in Montenegro.
Have you lost more than gained or gained more than lost since you joined crypto?
The top US financial regulators propose strengthening the tools used to scrutinize nonbank firms, including changes to Trump-era guidance that made it harder to tackle them [US Watchdogs Propose Tighter Oversight of Nonbanks Posing Systemic Risk](https://www.bloomberg.com/news/articles/2023-04-21/us-watchdogs-propose-tighter-oversight-of-nonbanks-posing-systemic-risk) The top US financial regulators proposed strengthening tools for addressing threats to financial stability, including changes to Trump-era guidance that had made it difficult to tag nonbank firms as systemically important institutions.
Investigators are also looking closely at how crypto can be used to camouflage transactions for restricted goods or funnel retail-level payments to oligarchs, sanctioned companies or Russian militias
US-based crypto exchange Gemini will set up an engineering hub in India and named its Global Chief Technical Officer Pravjit Tiwana as Asia-Pacific chief executive [Cryptocurrency Exchange Gemini to Open Engineering Hub in India](https://www.bloomberg.com/news/articles/2023-04-21/crypto-exchange-gemini-to-open-india-engineering-hub-appoints-apac-ceo) US-based crypto exchange Gemini will set up an engineering hub in India and named its Global Chief Technical Officer Pravjit Tiwana as Asia-Pacific chief executive.
A coding error in an annual survey by the U.S. Census Bureau shows that more than two-thirds of Brazilians in the U.S. identified as Hispanic in the 2020 American Community Survey, according to an analysis by Pew Research Center. [Are Brazilians Hispanic? Many say ‘yes,’ report says](https://www.nbcnews.com/news/latino/are-brazilians-hispanic-many-say-yes-report-says-rcna80503) The Census Bureau doesn't usually classify Brazilians and others from non-Spanish-speaking Latin American countries as Hispanic, but that's not how many Brazilians see it.
TVL increased 28% from the beginning of the quarter, but remains muted, down 71% from ATH. [CoinMarketCap on Twitter](https://twitter.com/CoinMarketCap/status/1649043988719243273) “TVL increased 28% from the beginning of the quarter, but remains muted, down 71% from ATH. <4/7>”
Total stablecoin supply started the quarter at $138B, about $4B down from where it was at the start of the previous quarter, and $25B down from its ATH of around $180B achieved from March to May 2022. [CoinMarketCap on Twitter](https://twitter.com/CoinMarketCap/status/1649043992003379200) “Total #stablecoin supply started the quarter at $138B, about $4B down from where it was at the start of the previous quarter, and $25B down from its ATH of around $180B achieved from March to May 2022. <5/7>”
The European Parliament adopts #crypto-focused MiCA legislation 👀
Protesters stormed the Euronext exchange as an embattled Emmanuel Macron struggles to temper fury over the new retirement age [French Fury: The Bloomberg Close, Europe Edition](https://www.bloomberg.com/news/newsletters/2023-04-20/french-fury-the-bloomberg-close-europe-edition) Good afternoon. Here’s what you need to know to end your day.
Landmark crypto legislation in Europe sets the bar for everyone else, says @emilyjnicolle in the Bloomberg Crypto newsletter [Crypto Wants Its Own Rules, and the EU Obliges](https://www.bloomberg.com/news/newsletters/2023-04-20/crypto-wants-its-own-rules-and-the-eu-obliges-with-mica) In this edition of the Bloomberg Crypto newsletter, Emily Nicolle assesses new landmark crypto rules out of the EU:
FTX’s potential plan to reboot its crypto exchange has attracted interest from Tribe Capital, a venture firm that invested in the platform before it collapsed last year [FTX Crypto Exchange Restart Plan Draws Possible Bid From Tribe Capital](https://www.bloomberg.com/news/articles/2023-04-18/ftx-crypto-exchange-restart-plan-draws-interest-from-tribe-capital-vc)
Montenegro prosecutors filed an indictment for Terraform Labs co-founder Do Kwon and his CFO, accusing the men of forging personal documents [Do Kwon Faces Forgery Indictment From Montenegro Prosecutors](https://www.bloomberg.com/news/articles/2023-04-20/do-kwon-faces-forgery-indictment-from-montenegro-prosecutors) Montenegro prosecutors filed an indictment for Terraform Labs co-founder Do Kwon and his chief financial officer, Han Chang-joon, accusing the men of forging personal documents.
$OP token rallied nearly 6% on Wednesday after @a16z announced it would be building on the layer 2 blockchain.
Hong Kong court rules #cryptocurrencies as property 🇭🇰
Australia surpassed the continent of Asia in terms of the total number of #crypto ATMs installed.
A second collection of #NFTs licensing the name and image of Donald Trump sold out on April 19, one day after its initial launch. 👀
A Singapore court extended creditor protection for crypto lender Babel Finance by about three months, its co-founder Flex Yang said [Crypto Lender Babel’s Creditor Protection Extended in Singapore](https://www.bloomberg.com/news/articles/2023-04-18/crypto-lender-babel-s-creditor-protection-extended-in-singapore) A Singapore court extended creditor protection for crypto lender Babel Finance by about three months, its co-founder Flex Yang said.
Bitcoin fell as much as 4.5% before paring some of the slide to trade at about $29,175 around 7 a.m. ET. UK consumer-price data on Wednesday showed inflation remained above 10% in March, signaling central banks will have to keep lifting borrowing costs [Bitcoin Drops Below $30,000 Again on Interest Rate Fears](https://www.bloomberg.com/news/articles/2023-04-19/bitcoin-drops-about-4-slips-below-30-000-amid-crypto-selloff) Bitcoin dropped back below the closely watched $30,000 level amid a wider retreat in cryptocurrencies, as stubbornly high UK inflation fanned fears of higher-for-longer interest rates.
Sotheby’s is preparing to sell a collection of digital art recovered by the liquidators unwinding failed crypto hedge fund Three Arrows Capital, with sales intended to help repay their creditors [NFTs Tied Up in Three Arrows Collapse to Be Sold By Sotheby’s](https://www.bloomberg.com/news/articles/2023-04-19/nfts-tied-up-in-three-arrows-collapse-to-be-sold-by-sotheby-s) Sotheby’s is preparing to sell a collection of digital art recovered by liquidators unwinding failed cryptocurrency hedge fund Three Arrows Capital Ltd.
Brett Harrison’s software startup is pushing into futures and crypto markets for institutional investors, as he moves away from his association with Sam-Bankman-Fried and the collapse of FTX [FTX US’s Former Head Kicks Off Trading Hub for Futures and Crypto](https://www.bloomberg.com/news/articles/2023-04-19/ftx-us-s-former-head-kicks-off-trading-hub-for-futures-crypto) Brett Harrison’s software startup is pushing into futures and crypto markets for institutional investors, as he moves away from his association with Sam-Bankman-Fried and the collapse of FTX.
Crypto lender BlockFi wins a few more weeks to finalize a plan to get out of Chapter 11 bankruptcy, overcoming disgruntled customers who say they should be repaid more quickly [Crypto Lender BlockFi Wins More Time to Explore Possible Sale, Restructuring](https://www.bloomberg.com/news/articles/2023-04-19/blockfi-wins-more-time-to-explore-possible-sale-restructuring) BlockFi Inc. won a few more weeks to finalize a plan to get out of Chapter 11 bankruptcy, overcoming disgruntled customers who say they should be repaid more quickly.
House Republicans are reigniting a debate over how to regulate crypto stablecoins as the US cracks down on crypto [Crypto Stablecoin Regulation Debate Reignited in Republican-Led House](https://www.bloomberg.com/news/articles/2023-04-19/crypto-stablecoin-regulation-debate-reignited-in-gop-led-house) House lawmakers are reviving their focus on stablecoins under new Republican leadership, but partisan fault lines are dimming the chances for any new law on the controversial cryptoassets.
FTX’s potential plan to reboot its crypto exchange has attracted interest from Tribe Capital, a venture firm that invested in the platform before it collapsed last year [FTX Crypto Exchange Restart Plan Draws Possible Bid From Tribe Capital](https://www.bloomberg.com/news/articles/2023-04-18/ftx-crypto-exchange-restart-plan-draws-interest-from-tribe-capital-vc)
The federal financial regulatory agency of the United Arab Emirates (UAE) has announced that it will start receiving licensing applications for firms that want to provide virtual asset services within the country. 🇦🇪
The Kingdom of Bhutan's sovereign wealth fund is investing millions of dollars into #Bitcoin and other #cryptocurrencies. 💪
Bitcoin’s 2023 rebound has resumed after stalling around the closely watched $30,000 level, despite the latest US crypto crackdown and a more sober assessment of the outlook for the Fed's monetary policy [Bitcoin Stalls Near $30,000 After the Token’s Biggest Drop in Over a Month](https://www.bloomberg.com/news/articles/2023-04-18/bitcoin-btc-stalls-near-30-000-after-biggest-drop-in-over-a-month)
NEW London-based bankers are increasingly putting down roots in Europe. Not even protests and strikes can stop Paris' rise to the top. [Banks Betting on Paris Say There Really Is Life After London](https://www.bloomberg.com/news/features/2023-04-18/brexit-bank-moves-boost-paris-milan-amsterdam-over-city-of-london) Protests have shaken the city, but its new financial growth has momentum
A former minority owner of the NFL’s Minnesota Vikings should spend seven years behind bars and forfeit more than $740 million after admitting he helped crypto exchanges avoid money-laundering rules, prosecutors say
A Singapore court extended creditor protection for crypto lender Babel Finance by about three months, its co-founder Flex Yang said [Crypto Lender Babel’s Creditor Protection Extended in Singapore](https://www.bloomberg.com/news/articles/2023-04-18/crypto-lender-babel-s-creditor-protection-extended-in-singapore) A Singapore court extended creditor protection for crypto lender Babel Finance by about three months, its co-founder Flex Yang said.
Donald Trump launched a second series of $99 NFT cards [Trump Is George Washington, King of Hearts in Second Round of NFTs](https://www.bloomberg.com/news/articles/2023-04-18/trump-hawks-second-round-of-nfts-as-2024-campaign-heats-up) Donald Trump is back to hawking digital trading cards.
If you’ve ever thought about following in Satoshi and Vitalik’s pioneering footsteps and creating your own #cryptocurrency to help build the future of money, then be prepared for a fascinating but very challenging journey.
How to Protect Your Private Key and Seed Phrase 🔑 🔹Never sharing it with anyone; 🔹Never storing it in the cloud (or anywhere on the computer); 🔹Backing it up and storing it offline.
Bank of England Deputy Governor Jon Cunliffe says policy makers are looking at using a digital version of the pound in wholesale markets [BOE Official Says Digital Pound Could Work in Wholesale Markets](https://www.bloomberg.com/news/articles/2023-04-17/boe-official-says-digital-pound-could-work-in-wholesale-markets) Bank of England Deputy Governor Jon Cunliffe said policy makers are looking at using a digital version of the pound in wholesale markets, signaling the UK is moving closer to endorsing the idea.
An anticipated shift in market share among providers of crypto staking services since Ethereum underwent a major software upgrade last week has begun [Ethereum Shanghai Upgrade Spurs Rotation to DeFi From Centralized Exchanges](https://www.bloomberg.com/news/articles/2023-04-17/ethereum-eth-shanghai-reboot-spurs-rotation-to-defi-from-centralized-exchanges) An anticipated shift in market share among providers of crypto staking services since Ethereum underwent a major software upgrade last week has begun, with decentralized-finance applications appearing to be the major beneficiaries.
As Canada tightens its crypto rules, Coinbase and Binance are among companies planning to pursue registrations, while others are looking for the exit [Canada’s New Crypto Rules Push Trading Platforms to Comply or Leave](https://www.bloomberg.com/news/articles/2023-04-17/canada-s-new-crypto-rules-push-coinbase-coin-binance-to-comply) Canada’s recent moves to impose stricter rules on crypto companies show that US regulators have allies in cracking down on the asset class after last year’s turmoil.
With real estate a bust, young Chinese, the nation’s best-educated and highest-paid cohort ever, are hunting for new ways to get rich [Chinese Millennials Hunt for New Routes to Wealth](https://www.bloomberg.com/news/articles/2023-04-18/chinese-millennials-look-to-stocks-bonds-and-crypto-in-seeking-ways-to-wealth) Stocks, convertible bonds, crypto and collectibles are just some of the options that the younger generation is exploring.
The fallout from a patchy education system are acutely on show in India, where thousands of private colleges are popping up with limited regulatory oversight, leaving millions unable to find jobs. [Worthless Degrees Are Creating an Unemployable Generation in India](https://www.bloomberg.com/news/articles/2023-04-17/india-s-worthless-college-degrees-undercut-world-s-fastest-growing-major-economy) Students around the globe are increasingly questioning the returns on education. Nowhere is the problem more complex than India.