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
Crypto exchange Coinbase said its revenue had plummeted 61 per cent in the latest quarter as crypto prices fell and trading volumes slumped. The San Francisco-founded company on Tuesday reported an after-tax loss of $1.1bn, compared with the $1.6bn net profit it registered in the middle of the crypto boom a year ago.
Nearly half of all Australian crypto exchanges will be wiped out by the end of the current “crypto winter” as poor risk management, lax regulation and instability within crypto markets force weaker operators to close shop, experts have predicted.
Who is Satoshi Nakamoto? The mysterious inventor of bitcoin is a renowned figure in the world of cryptocurrency but his true identity is unknown. However, the British blogger Peter McCormack was certain about one thing: the answer isn’t Craig Wright. For years Wright, an Australian computer scientist, has claimed that he is Satoshi, the pseudonymous author of the 2008 white paper behind bitcoin.
Michael Saylor’s new job looks a lot like his old job: adding bitcoin to the balance sheet of his business-software company with religious fervor. “I’m a bitcoin maximalist, I happen to believe that bitcoin is an instrument of economic empowerment, it’ll be beneficial to eight billion people,” he said.
The United States has frozen the assets of cryptocurrency service Tornado Cash, accusing it of helping cyber criminals to launder money. More than $7 billion worth of cryptocurrency, including from North Korean hackers, has been laundered through Tornado Cash since 2019, a senior Treasury Department official said.
For fans of professional sports, the insistent overtures from the crypto industry have become almost impossible to miss: The names of exchanges and blockchain companies are emblazoned on team jerseys, plastered on stadiums, and beckoning from halftime TV commercials. For now, the deals keep coming, leading franchise owners and executives to view crypto as sports’ next great benefactor.
Coinbase’s partnership with BlackRock could be a catalyst for bitcoin’s price to rise by up to $500,000, according to Ark Invest analyst Yassine Elmandjra. The innovation-focused fund manager doubled down on Ark’s bullish bitcoin projection after BlackRock, the world’s largest asset manager, revealed it would offer institutional clients access to bitcoin via Coinbase Prime.
In the latest instance of FTX embarking on a massive bear market buying spree, the crypto exchange has struck a deal with Reddit. The crypto-to-fiat exchange platform FTX Pay is integrating with Reddit and Arbitrum to allow users to pay gas fees on Reddit’s “Community Points” tokens using fiat. Community Points, rolled out in 2020, are blockchain-based Reddit tokens that allow users to divvy out rewards and interact with the social platform.
In Focus: Crypto partnerships
Crypto companies have spent over $2.4 billion dollars on sponsorships with sporting organisations in the last year. This nascent band of businesses has moved aggressively since last year to match the advertising muscle of beer brands, carmakers, telecom service providers, and other stalwart sports sponsors.
In this week’s Crypto Curious episode, we’ll be giving you a run down on what’s been a huge month of news – plus just what happened with the Solana wallet hacks? We’ll talk about some developments in regulation as well as how NFT’s are changing the way we interact with sports and ticketing. We discuss how the gateway for institutional investors is widening with an exciting partnership that gave Coinbase shares a massive boost.
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.