Forbes - The end justifies the means ⚖️

CryptoCodex


	Happy Friday! Billy Bambrough here with what's driving the day in the world of bitcoin and crypto.


	Was this newsletter forwarded to you? Sign up here! Got a crypto-curious friend? Forward Codex to them to help get them up-to-date and ahead of the market!

24-hour crypto market snapshot

$36,543

$2,395

$381.19

$49.65

Swings and roundabouts 🏌️


	After its wild swings over the last couple of weeks, the crypto market has settled into a period of relative stability, at least among major coins. The bitcoin price is flat on this time yesterday while ethereum has declined by around 2%. Binance's BNB is breaking the mold, adding around 2%, as other top ten coins trend lower. However, Terra's luna has lost almost 20% as decentralized finance (DeFi) coins are rocked by drama (see below for details). Good to know: Goldman says crypto mainstream acceptance may not boost prices

When you make a purchase through links in this email, the author may earn a commission.

Crypto is evolving, are you?

Anyone following crypto knows how volatile the market can be. Forbes CryptoAsset & Blockchain Advisor looks at the universe of viable crypto assets with proprietary analysis and insider crypto knowledge to guide you to the best choices. Set yourself up for success in the new year and learn how to make smart investments on this breakthrough technology by leveraging deep-dive interviews and more to further establish your portfolio and fuel profits.

For successful subscription, disable your adblocker

Join Forbes Crypto Asset & Blockchain Advisor

A matter of national security 🚨



	The Biden administration is thought to be readying an executive order on cryptocurrency regulation AFP via Getty Images


	Insecurities: Federal agencies could be tasked with regulating bitcoin and cryptocurrencies as a matter of national security, it was reported by Barron's last night, following rampant speculation about the White House's plans for the U.S. cryptocurrency industry and markets in the aftermath of Bloomberg's scoop the Biden administration is readying a crypto executive order. Holistic approach: "This is designed to look holistically at digital assets and develop a set of policies that give coherency to what the government is trying to do in this space," a person familiar with the White House’s plan told Barron’s. Catch up quick: The executive order, which could be signed by Biden as soon as next month, would "put the White House at the center of Washington’s efforts to deal with cryptocurrencies," it was reported by Bloomberg, citing anonymous sources familiar with the matter. The executive order is expected to outline economic, regulatory and national security challenges posed by cryptocurrencies and would call for reports from various agencies due in the second half of 2022—potentially looking at the systemic risks of cryptocurrencies and their illicit uses. The plot thickens: Decrypt's executive editor Jeff John Roberts claims to have uncovered the Biden Administration's "secret crypto strategy," reporting "it wants to force stablecoin issuers into the arms of big banking." Roberts quotes Maya Zehavi, a crypto entrepreneur and investor who has advised regulators," who told him the Biden Administration doesn't want to kill stablecoins altogether but wants to "cull what these lawmakers perceive as 'shadowy' operations like Tether while bringing 'regulator-friendly' ones like Circle and Paxos under the umbrella of the U.S. banking system." Pincer movement: Meanwhile, Jerry Brito, executive director for Washington D.C.-based think tank Coin Center, flagged another piece of legislation that he thinks should be worrying the crypto industry. A provision in the proposed America Competes Act would allow the Treasury Secretary to ban crypto exchanges from operating without any prior notice. "A new provision in the Competes Act would allow the Treasury Department to unilaterally prohibit certain financial transactions without public input," congressman Ted Budd said via Twitter. "I've submitted an amendment to fix this massive mistake." Now read this: The U.K.'s health secretary on Britain's "tepid attitude to cryptocurrencies"

⚠️ Robinhood is crypto cautious ⚠️


	🏹 Robinhood, the commission-free trading app that's seen its stock plummet since its initial public offering in July, last night reported a steep decline in its crypto revenue for the second straight quarter—with its shares plunging further in after-hours trading. Reuters has a full write-up. 📞 There's been widespread speculation in recent months that Robinhood could add more cryptocurrencies, such as the dogecoin rival shiba inu, to its trading platform as a way to boost revenue, however, chief executive Vlad Tenev said the company "wants to avoid triggering SEC registration requirements for cryptocurrencies," speaking on an earnings call with analysts it was reported by Coindesk. 🤝 Tenev said Robinhood has been "proactively engaging with regulators" to address concerns about listing unregistered securities. "We’re being very deliberate," he said, adding the company is building out its crypto team and looking at the regulatory landscape. Now read this: Would you buy a home in the metaverse?

DeFi drama 🎭


	🕵️ In what Coindesk's Andrew Thurman called "one of the most tumultuous 48 hours in recent crypto history," the pseudonymous treasury manager for decentralized finance (DeFi) project Wonderland has been outed as the co-founder of a notorious Canadian crypto exchange that defrauded investors of upward of $190 million. Bloomberg has a comprehensive explainer of the complex situation. 💀 Popular on-chain analyst zachxbt revealed in a Twitter thread that 0xSifu is in fact Michael Patryn, a co-founder of the now-defunct crypto exchange QuadrigaCx. The exchange is well-known due to some $250 million of investors’ funds that became inaccessible following the death of the other co-founder Gerard Cotton who died in late 2018 during a trip to India. Vanity Fair's write-up is highly recommended reading. 🐸 The revelation rocked a loose conglomerate of projects known as Frog Nation, with their native cryptocurrencies all falling sharply and sparking fears one of the largest algorithmic stablecoins may lose its dollar peg. Listen to this: A podcast series about the death and afterlife of Gerald Cotten

	Billy Bambrough
	Forbes Senior Contributor

I am a journalist with significant experience covering technology, finance, economics, and business. I write about how bitcoin, crypto and blockchain can change the world.

Follow me on Twitter or email me.

You’ve received this email because you’ve opted in to receive Forbes newsletters.

Unsubscribe from CryptoCodex.

Or, manage your paid subscriptions on your Forbes profile here.

Manage Email Preferences | Privacy

Forbes Media | 499 Washington Blvd.

Jersey City, NJ 07130

Research shows vaccines curb Covid transmission

Thursday, January 27, 2022

Plus: The three subvariants of omicron ADVERTISEMENT Forbes | InnovationRx A lot of the research around vaccines has to do with their effectiveness on the individual level. It's well established at

How To Craft The Perfect To-Do List | Ivanka Trump’s Insider Apartment Discounts | Rihanna Nabs More Funding For Savage X Fenty | And More

Thursday, January 27, 2022

Plus: Five Steps To Become Financially Healthy In 2022 ADVERTISEMENT Forbes From Russian military drills that have stoked geopolitical uncertainty to the 'bomb cyclone' heading towards New

Forbes - The end justifies the means ⚖️

Older messages

Research shows vaccines curb Covid transmission

How To Craft The Perfect To-Do List | Ivanka Trump’s Insider Apartment Discounts | Rihanna Nabs More Funding For Savage X Fenty | And More

Putin's Wealth Riddle | Top 100 Goldilocks Stocks | Mattel’s Disney Play

Competitive advantage ✨

Prescription Video Games | Vaccines And Long Covid | Mental Health Parity

You Might Also Like

How to Keep Providing Gender-Affirming Care Despite Anti-Trans Attacks

Guest Newsletter: Five Books

GeekWire's Most-Read Stories of the Week

10 Things That Delighted Us Last Week: From Seafoam-Green Tights to June Squibb’s Laundry Basket

🥣 Cereal Of The Damned 😈

The Sunday — March 9

☕ Chance of clouds

Federal Leakers, Egg Investigations, and the Toughest Tongue Twister

Strategic Bitcoin Reserve And Digital Asset Stockpile | White House Crypto Summit

Researchers rally for science in Seattle | Rad Power Bikes CEO departs