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  • 12/7/23: JPMorgan Wants To Shut Crypto Down 🏦🇺🇸🪶

12/7/23: JPMorgan Wants To Shut Crypto Down 🏦🇺🇸🪶

Author

Valko
December 07, 2023

Top News

  1. Jamie Dimon and Sen. Elizabeth Warren team up to shut down crypto

  2. U.S House Committee approves pro-blockchain bill

  3. Robinhood Crypto launches in EU with 'Crypto Back' reward program

Insights

1. Jamie Dimon and Sen. Elizabeth Warren team up to shut down crypto

⌐◪-◪ → Wait a second… you’re telling me that the man in charge of one of the largest financial institutions in the world is AGAINST crypto? Shocker.

His criticism is predictable and weak, saying that “the only true use case is criminals”. Meanwhile, regulators have charged banks 7,400+ times for over $380B in fines.

The best part of this entire exchange was X’s community notes, fact-checking Jamie.

2. U.S House Committee approves pro-blockchain bill

⌐◪-◪ → The US House Committee just gave the green light on deploying the American Blockchain Act of 2023 (H.R. 6572) with unanimous approval 46-0.

But what does this mean?

Basically, the 13-page bill directs the Secretary of Commerce to take actions necessary to make the US a competitive force and leader in the blockchain space.

Maybe Coinbase’s CEO Brian Armstrong was right and blockchain will be key to extending western civilization.

3. Robinhood Crypto launches in EU with 'Crypto Back' reward program

⌐◪-◪ → Well, would ya look at that?! A major milestone for Robinhood just a few days after Cathie Wood’s Ark Invest bought a bunch of shares.

Anyway, putting that aside for a moment, this is pretty fantastic news. The app will let EU users trade over 25+ cryptocurrencies for zero commission.

Considering Robinhood’s success in onboarding the next generation of investors, this is pretty bullish, and very aligned with their mission to democratize finance

Peripheral Vision

⛓️ Crypto & DeFi

  • Luke Dashjr, Bitcoin dev and Ocean co-founder calls ordinals “spam”

  • Bitcoin’s 'v26.0' upgrade aims to impede eavesdropping & tampering

  • Early BTC miner sends 1,000 ‘Satoshi Era’ to trading desks

  • Safe, Sygnum Bank, and Coincover partner on crypto recovery service

  • Thiel-backed One Trading to launches new trading platform

  • BitDegree partners with web3 companies to help educate the masses

  • Circle-backed Xion rolls out testnet for ’generalized abstraction'

  • Deloitte taps Polkadot ecosystems Kilt blockchain for logistics

  • Lantern launches staking platform in 15 U.S. States

  • Gyroscope launches novel stablecoin (GYD) on Ethereum mainnet

🏦 Wallstreet & VC

🏛️ Legal & Regulatory

  • SEC’s discussions with ETF applicants have advanced to tech. details

  • Bitzlato co-founder pleads guilty to processing $700M in illicit funds

  • Terraform Labs asks judge to let jury decide if UST is a security

  • Seattle judge accepts Ex-Binance CEO CZ’s guilty plea

  • Republican debate mentions Binance, SBF, ETH, and Gensler

🌎 Rest of the World

  • Circle partners with Nubank in Brazil to add support for USDC

  • Merit Circle DAO partners with Immutable to grow ecosystem

  • India won’t see crypto bills for another 18 months, sr. lawmaker

  • Justin Sun’s Poloniex added to UK regulator warning list

🖼️ NFTs & Metaverse

  • GTA6’s viral leaked game trailer shills Bitcoin with ’Buy BTC’ ad

  • Meme-coins tied to DOGE-1 satellite jump ahead of SpaceX launch

  • Sotheby’s hosts first-ever BTC ordinals sale with Bitcoin Shrooms

  • Alien CryptoPunk #3100 receives s $3.6M bid

  • Rug Radio NFTs soar after re-brand and anticipated new tokenomics

  • NFTfi brings real estate to NFT lending with Fabrica