Hodder law Weekly Newsletter - March 30, 2023
Hello everyone, I hope you are all having a great week! The price of Bitcoin as of Thursday, March 30 at 6:20 p.m. EST is $28,114.
Headlines.
CZ’s response to the CFTC Complaint. On Monday, the CFTC launched a complaint against Binance, accusing it of running an “intentionally opaque common enterprise” and “engaging in a calculated strategy of regulatory arbitrage.” Binance CEO CZ responded by demonstrating how Binance has helped U.S. law enforcement seize hundreds of millions in illicit funds.
SBF paid $40M bribe to Chinese officials to unlock frozen accounts. In a new indictment against SBF on Tuesday, it came to light that Chinese authorities had seized $1 billion in crypto from Alameda trading accounts, so SBF allegedly bribed a Chinese government official to gain access.
Former SEC Branch Chief explains why U.S. has jurisdiction over Do Kwon. Do Kwon allegedly reached out to U.S. investors and misled them about how the UST stablecoin was backed. A South Korean national, Do Kwon was wanted in his home country since September, months after UST and LUNA values collapsed.
Nasdaq eyeing Q2 2023 release for Bitcoin and crypto custody platform. The Manhattan-based exchange will offer investors custody services for Bitcoin and other crypto assets. However, more savvy investors will continue to self custody their crypto as there are no guarantees that NASDAQ will be safer than any other crypto exchange. #notyourkeysnotyourcoins.
Bitcoin is poised to improve Africa's $86 billion banking system. Currencies in Africa are highly inflationary and many Africans are unbanked. African entrepreneurs are opting to integrate the Lightning Network and eliminate the costs of sending and receiving funds.
White House releases economic report on Bitcoin: Here's what they got wrong. The report doesn’t even understand the fundamentals of the Bitcoin network enough to criticize it properly. It suggests Bitcoin should move from proof-of-work mining towards a proof-of-stake, which is preposterous.
Bankrupt crypto lender BlockFi given the go-ahead to sell $4.7M of mining rigs. Unfortunately for BlockFi they couldn't weather the storm from the FTX fiasco and filed for bankruptcy in November. The nearly 6,400 Bitmain Antminers rigs have been sold to U.S. Farms and Mining Opportunity Fund.
Unlocking the power of blockchain tech. Web 3.0, DEXs, and NFTs are grabbing attention in the tech world and will bring efficiency to companies and individuals. Whether buying or selling goods, marketing products, or providing secure and transparent transactions, companies are already innovating through integration with these new technologies.
Crypto is the solution to bank runs, not the cause. In a transparent, decentralized system with instant transaction settlements, bank runs wouldn’t ever be a problem. And with innovations in self-custody options that’s when you’ll see crypto start to displace the current financial systems.
HODLCast.
Here's a short clip from my YouTube channel explaining why the traditional financial system is a scam. For more videos like this and the one below please subscribe to my YouTube channel.
Watch the latest HodlCast on my YouTube channel.
The best way to predict the future is to create it.
Make it a great week!
Sincerely,
Sasha Hodder
Hodder Law
