Op-ed: Why Sam Bankman-Fried did us all a favor
Op-ed: Why Sam Bankman-Fried did us all a favorThe former FTX CEO has been vilified for his role in orchestrating the fraud, however, a deeper look into the overall situation shows he actually did us a favor.
Happy Saturday!The global crypto market cap is $1.01 trillion with a 24-hour volume of $38.6 billion. The price of Bitcoin is $21,680.99 and BTC market dominance is 41.4%. The price of Ethereum is $1,516.04 and ETH market dominance is 18.4%. The best performing cryptoasset sector is Adult, which gained 11%.
Latest NewsOp-ed: Why Sam Bankman-Fried did us all a favor
The former FTX CEO has been vilified for his role in orchestrating the fraud, however, a deeper look into the overall situation shows he actually did us a favor. PayPal puts its stablecoin project on holdChanges in the regulatory landscape seem to have stalled the project. Binance, Coinbase, Kraken, and eToro confirm they have no Super Bowl adsTwo of those companies — Coinbase and eToro — advertised last year. Kraken co-founder Jesse Powell comments on staking and SEC settlementPowell explained why Kraken didn't fight the SEC and expressed hope for the future. Wall street institution Cantor Fitzgerald reportedly manages $39B of Tether’s reservesTether reported that it held assets worth $67.04 billion as of Dec. 31 — the assets included $39.2 billion of U.S. Treasury bills. Uniswap BNB deployment passes with 66% yes votes despite a16z rejectionThe proposal to deploy UniswapV3 to BNB Chain was accepted with 66% on Feb. 10, even though Andreessen Horowitz used 15M votes to oppose it. US financial committee demands SBF-related documents from SECThe lawmakers wrote that the timing of the SEC's charges against SBF raises "serious questions about its process and cooperation" with the US Department of Justice (DoJ). Ordinal Punks NFTs called out as ‘sketchy’A look into the world of Bitcoin NFTs reveals an inadequate infrastructure and strong FOMO, even for clone collections. Only 58% of American crypto investors reported tax returns in 2022 – CoinLedgerThe survey was conducted by CoinLedger in December 2022 and included 305 American adults who own or invest in crypto. Optimism sheds 10% following 11M token airdropOptimism's OP token fell 13% in the last 24 hours to $2.33 as of press time, according to CryptoSlate data.
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