Hodder Law Weekly Newsletter - February 9, 2023
Hello everyone, I hope you are all having a great week! The price of Bitcoin as of Thursday, February 9 at 5:30 p.m. EST is $21,889.
Headlines.
Governments in the United Kingdom and Australia are planning to implement strong crypto regulation. Under the guise of protecting consumers from scams, they aim to limit decentralization in favor of their CBDC roll-outs.
Michael Saylor Blasts Charlie Munger In Interview. On a recent CNBC interview, Saylor dispelled criticism of Bitcoin from the Vice Chairman of Berkshire Hathaway. He also discussed the development of the Lightning Network with MicroStrategy and how this technology has the potential to cut out digital advertisers and give those proceeds directly to consumers.
FTX's meltdown was painful but necessary for the industry to grow up, bitcoin bull and Microstrategy CEO Michael Saylor says. Exposing many of the bad actors in the crypto ecosystem was good for the long-term development of Bitcoin. However, any regulation if done properly should be guided by the crypto industry itself rather than being led by government agencies like the SEC.
Fed Policy Win Could Harm Bitcoin’s Wall Street Narrative. When framing the value attributes of Bitcoin in a strong economy like the U.S. it’s often challenging to know where Bitcoin stands. The best value proposition for Bitcoin is found easily in countries where financial freedom is undermined by their central banking system. Don’t think it couldn’t happen here.
How Crypto Advocacy Must Change Post-FTX Collapse. The general public typically doesn’t understand crypto and the value of blockchain technology; since the utility of Web3, NFTs, and DeFi has yet to be realized on a large scale. As advocates for this technology, it’s in everyone’s best interest to expose fraudsters and scammers seeking to undermine all the positive attributes and potential this technology can provide. Failure to do so could bring on crippling regulation worldwide and destroy positive innovation in the crypto ecosystem.
William Shatner Documentary Raises $790,000 in Equity Crowdfunding. This fan-first financing model allows fans to directly invest in this documentary project for as little as $100. Investors will be paid back first before Shatner or the film producers take any profits. This is a great example of how NFTs can be utilized in the entertainment industry to fund artistic endeavors.
Mastercard’s NFT Leader Quits, Mints His Resignation Letter on the Way Out. One of his complaints was not receiving his salary for months at a time. Hopefully, things go smoother for Mastercard in their upcoming partnership with Binance to offer a crypto card in Brazil.
HODLCast
This week's HodlCast features updates on legal proceedings around FTX, BlockFi, and Celsius. In Bitcoin news, Ordinals are causing a blocksize debate amongst maxi's. Are crypto companies at risk of losing their bank accounts? Read about that on my blog from the Hodder Law Firm website.
“Our greatest glory is not in never falling, but in rising every time we fall” – Confucius
Make it a great week! Sincerely, Sasha Hodder Hodder Law sasha@hodder.law www.hodder.law
