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- 11/3/23: SBF Is Going Bye Bye 🏛️📱🇺🇸
11/3/23: SBF Is Going Bye Bye 🏛️📱🇺🇸
Top News
🏛️ SBF found guilty on all counts
📱 Cash App sold over $2.42B Bitcoin in Q3 this year
🇺🇸 US authorities seize $54M crypto in darknet narcotics scheme

⌐◪-◪ → Well, it’s over (for now). SBF was found guilty on all seven counts, and is facing up to 150+ years in prison. I don’t think any of us are surprised, but it definitely feels weird now that everything is over. For a detailed breakdown of his final sentence, check out this video by Bankless.
⌐◪-◪ → Jack Dorsey is quitely crushing it in the world of crypto. He’s building new ASIC mining rigs for Bitcoin and onboarding the masses with CashApp. The real struggle here, business wise, is introducing self-custody whilst still maintining a profitiable business. Fortunately, I think Jack’s head is in the right place with regards to blockchain values, but he still has to run a business.
⌐◪-◪ → US attorney office filed a a civil forfeiture action on Thursday to recover $54M in seized currency. The seizure includes 30,000 ether worth approximately $53.5M, which was purchased in Ethereum’s July ‘14 initial coin offering. Headlines like this make me wonder how the government actually aquires the guilty party’s seedphrase. With crypto, it’s always possible to just hide your keys and keep the booty.

Peripheral Vision
⛓️ Crypto & DeFi
FTX sold $220M of assets so far
Dune Analytics launches new service, Dune AI
Arbitrum grants are on their way to protocols
Block sold $2.42B BTC through CashApp in Q3 alone
🏦 Wallstreet & VC
Fidelity says Bitcoin is “exponential gold”
Catherine Wood says she would choose Bitcoin over Gold
MicroStrategy sees “unprecedented demand” for Bitcoin
A16z crypto index moves on-chain with v2 launch
🏛️ Legal & Regulatory
SBF guilty on all counts, facing 150+ years in prison
SEC seeks summary judgment in lawsuit against Terraform
US Attorney says SBF perpetrated one of the biggest financial crimes
🌎 Rest of the World
Dubai incorporates XRP into a special economic zone
Singapore police force issues warning over WhatsApp phishing scam
Argentina’s two remaining presidential candidates are pro-bitcoin
Switzerland to Impose Exit Fees on customers who take money out
🖼️ NFTs & Metaverse

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