While we don’t have a strong view on crypto here at Equity Mates, we are fascinated to watch the story unfold. Read on for some of the most interesting Tweets, articles and memes from the past week below.
Prices of Top Cryptocurrencies
Tweets & Charts of the week
Articles & Videos
NFT application developers and others have balked at a decision by tech giant Apple to impose a 30% commission on NFTs sold through apps on its marketplace, effectively putting NFT purchases in the same boat as regular in-app purchases. The smartphone company is now allowing NFTs to be bought and sold through apps listed on its marketplace but imposes its standard commission on in-app purchases of 30% — similar to that imposed by Android’s app store Google Play.
The surging US dollar is wrecking stock portfolios, clobbering commodity prices and sinking rival currencies. But one asset has been relatively calm over the past week: Bitcoin. The cryptocurrency has risen 6.5% over the past seven days, a surprisingly strong run that has caught the eye of crypto bulls and bears.
Interpol has asked law enforcement officials around the world to find and arrest Do Kwon, the founder of failed cryptocurrency Terra. BBC Korean says a red notice has been issued for the 31-year-old, who is accused of fraud over the company’s $40 billion collapse. Do Kwon has tweeted that he is not on the run and is cooperating with the investigation.
Talking at a conference this week, when asked about crypto, Jamie Dimon, CEO of JP Morgan said “They are decentralised Ponzi schemes,” It is not helpful to Kwon’s cause, or that of cryptocurrencies more broadly, that his refusal to give his whereabouts comes just as a poster child for the old-school, central bank-run fiat system points fingers at an entire industry.
Sam Bankman-Fried, the crypto billionaire who has been bailing out distressed industry players in recent months, is considering bidding for the assets of bankrupt lender Celsius Network. FTX is also in the process of raising a $1 billion funding round according to a person familiar with the company.
Last year, Australian Senator Andrew Bragg delivered a report that suggested several important reforms to facilitate the development of a domestic crypto industry. But not a lot has happened since then. Australia stands to massively benefit from this new technology and despite something of a “crypto winter” and low token prices, the fact is, the technology is not going away. Australia needs to get serious.
Aussie crypto exchange Swyftx has this week released the largest annual crypto survey in the country. Key takeaway? Crypto adoption is on the rise in Australia. Around a quarter (actually 26%) of Aussies surveyed intend to make some sort of cryptocurrency purchase within the next 12 months.
The Southeast Asian nation of Vietnam now ranks among the top nations adopting cryptocurrencies. There are numerous reasons why the crypto adoption rate in Vietnam is so high and one of them is that, unlike in the United States and other major jurisdictions where cryptocurrency holdings are taxed, there are no crypto taxes in Vietnam.
In Focus: Crypto rich listers
Last year, a record seven crypto billionaires made The Forbes 400 list of the richest people in the U.S. This year, only four remain. The quartet are worth a collective $27.3 billion. Last year’s seven were worth $55.1 billion.
[Read the article here]
This rich list was released earlier this year, so the figures will have changed significantly with the crypto winter. But still worth sharing the richest crypto people in the world (that we know of)…
[Read the article here]
This week we give you the inside scoop on Australia’s largest Crypto Event Aus Crypto Con which took place last week on the Gold Coast. We’ll talk about the state of the crypto market over the last week and what news from the US is likely to impact it further. There’s been yet another blunder from a well known crypto exchange resulting in free money and once again we finish with the short sharp news bites.
[Listen to the episode here]
Some of our favourite content
This is an excerpt from our Crypto Newsletter email. Once a week, for those investing in crypto or interested in learning more about this corner of the market, we’re featuring some of the most interesting content we’ve come across in this weekly email. No spam, we guarantee.