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  • 12/25/23: Christmas Clash: Warren vs. Coinbase 🛡️🚜🍝

12/25/23: Christmas Clash: Warren vs. Coinbase 🛡️🚜🍝

Author

Valko
December 25, 2023

Top News

  • 🛡️ Coinbase says Sen. Warren’s accusations are "simply wrong"

  • 🚜 BarnBridge DAO settles with the SEC for $1.7M

  • 🍝 Bankless co-founder roasted for calling Ethereum a B2B chain

Specs’ Insights

Coinbase fires back at Sen. Elizabeth Warren: accusations "simply wrong"

Sen. Warren had criticized the company, among others in the crypto industry, of hiring former legislators and law enforcement officials.

⌐◪-◪ → Elizabeth Warren has been on an anti-crypto warpath, but thankfully, we have Coinbase on our side.

Over the weekend, Coinbase published a letter to Sen. Warren, slamming her for accusing them of hiring former government officials in a “revolving door” system.

Coinbase is trying to warn Sen. Warren and her affiliates about the risks of pushing crypto offshore - making comparisons to semiconductors and mobile phone manufacturing - but sadly, Sen. Warren would rather watch the US burn in order to protect her personal interests.

BarnBridge DAO settles with SEC for $1.7 million, agrees to stop selling crypto bond product

BarnBridge DAO, which runs a small DeFi protocol, and its founders will pay more than $1.7 million to settle charges with the SEC.

⌐◪-◪ → DAO status won't save you from US regulators.

Far too many projects are trying to evade legal oversight by slapping on the "DAO" label; however, just because you say you're "decentralized" doesn't mean you actually are.

This $1.7M settlement is notable because it is one of the first actions targeting DAOs - and may set the tone for enforcement actions in 2024.

Remember: If it can be regulated, it will be regulated.

⌐◪-◪ → Crypto Twitter is not happy with David Hoffman's recent take on Ethereum, where he called it a "B2B chain" that's "not meant to serve individual users."

This narrative isn't new either; we've seen similar takes on Bitcoin for its scalability issues and high fees.

Here are some funny takes from Foobar, Frankie, and Gmoney. I do love me some new copy-pasta 🍝.

Everything Else

⛓️ Crypto & DeFi

  • Solana cancels Saga Phone orders after distributors oversold inventory

  • ZachXBT deactivates twitter account post memecoin FUD

  • Chamath & David Sacks defend infamous “SOL dumping” podcast

  • MEXC crypto trading platform fails to fulfill traders’ profits

  • Wall Street Journal writes piece on Yi He, Binance’s CMO

🏦 Wallstreet & VC

  • Hashdex names BitGo as their spot Bitcoin ETF custodian

  • Akron Energy raises $110M to expand US bitcoin mining

  • BlacRock updates S-1 with Jan 3rd seed creation date

  • Ikigai Asset Management sells FTX bankruptcy claim

🏛️ Legal & Regulatory

🌎 Rest of the World

  • Nexo's money laundering investigation in Bulgaria closed down

  • Turkey’s President picks crypto professor for central bank board

  • Nigeria lifts restrictions on bank accounts for crypto firms

  • Japan to exempt companies from taxes on unrealized crypto gains

🖼️ NFTs & Metaverse

  • Minecraft allows Worldcoin integration, despite broader crypto ban

  • Yuga Labs's metaverse plots dominated the top 10 digital land sales

  • Xai gaming network announces airdrop on Arbitrum, targets Dec 27th

  • Insomniac Games issues a public statement after hack

  • Moose offers to buy Moonbirds NFT project for $4M

  • Kai Cenat unboxes a Pudgy Penguin plushie on stream

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