Hodder Law Weekly Crypto Newsletter - October 26, 2022
Hello everyone,
I hope you are all having a great week! The price of Bitcoin as of Wednesday, October 26 at 10:35 a.m. EDT is $20,815.
HODLCast In this week's episode, I spoke with the legend, Bobby Lee! Bobby is the founder and CEO of Ballet, a startup that provides user-friendly physical wallets for storing cryptocurrency. His first startup was BTCChina, China's first Bitcoin exchange. Bobby also serves on the board of the Bitcoin foundation.
We discussed Ballet Wallet, the future of Bitcoin, and how this asset will impact the global economy.
Headlines.
Rishi Sunak to become UK Prime Minister following embarrassing Truss exit.
The former finance minister dreams of turning the U.K into a crypto hub. In addition to the Royal Mint's NFT project, Sunak has spoken about a government-issued stablecoin and proposed a task force to explore a CBDC. #JuryIsStillOut.
Missouri pulls $500 million from BlackRock over ESG push.
State Treasurer Scott Fitzpatrick joins several Republican-led states seeking to pull business from the world’s largest asset manager. Louisiana said it would pull $794 million from Black Rock as it prioritizes ESG policies over shareholder returns. #GreenwashingHurts.
Fidelity hires another 100 for the Digital Assets Team.
With more than $10.3 trillion in assets, Fidelity Investments has grown its crypto-focused team to over 500. Fidelity plans to offer 401(k) plan participants to direct a portion of their savings into Bitcoin, and launched two ETFs last April, tracking companies in the metaverse and broader crypto industries. #TheFidelityAdvantage.
Richard Heart's Hex could be about to self-destruct.
Unsurprisingly, the price of hex has dropped by 90% over the last year. The community is fed up that the promised Pulsechain is not happening and instead, former online viagra "spam king" turned "computational fluid dynamics" technologist, Richard Heart, is simply forking Eth 2. #ScamKing.
SBF revises his crypto regulatory proposal after Twitter backlash.
Sam Bankman-Fried proposed a terrible crypto regulatory scheme that benefited FTX, to the detriment of decentralization. After BitBoy called him the devil, and Voorehees accused him of advocating to ban over 80 million innocent Iranians, SBF walked back his original post. #ConstructiveFeedback.
Hacker steals $300K from Olympus DAO, then returns it all the same day.
The hacker exploited a bug in the code that allowed him to take 30,000 OHM tokens, which he returned a few hours later. The amount taken was only a fraction of the $3.3 million maximum bounty Olympus offers to prevent the loss of DAO funds. #WhiteHat #WildWest #UserBeware
JPMorgan hires former Celsius Head of Regulatory Policy. JPMorgan just hired Aaron Iovine as Executive Director of Digital Assets Regulatory Policy. Under Iovine's tenure, Celsius was operating an illegal ponzi scheme, selling unregistered securities, and failed to apply for lending licenses in any states. Jamie Dimon continues to grow his crypto business while casting shade on Bitcoin. #Hypocrite.
Celsius Solicited Donations for Ukraine But Likely Kept the $.
Nearly $100 million in crypto was donated to wallets set up by the Ukraine government. Celsius jumped on the trend, but directed users to donate to their custodial wallets, and the bankruptcy hearing has uncovered that very little of the funds ever made it to Ukraine. #TheTruthIsStrangerThanFiction.
I'll be Speaking at the FBBS Summit in Tampa on Nov 4. The goal of the Summit is to make Florida the world leader in blockchain and financial technology. It will be a meeting of stakeholders, businesses, and political leaders from around the world. Hope to see you there! Use discount code Fbba1001 when purchasing your tickets. #FloridaBitcoinState
It's how you deal with failure that determines how you achieve success. --David Feherty
Make it a great week!
Sincerely,
Sasha Hodder
Hodder Law
sasha@hodder.law
www.hodder.law