Fee-ling Broke: The Price of Gas

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I’m sure many of you have noticed, but being in crypto seems to be so expensive in the last few weeks. Transaction fees across L1s are surging as activity picks up, with many taking this issue to social media. Multiple stories on that mixed throughout below, along with news about Do Kwon’s extradition being revoked, major web3 startup investments, and 2023 reviews + 2024 predictions 👇🏼 Keep on Scrolling 🖤

• Court approves $2.7B Binance settlement paid to CFTC, with CZ paying $150M (CT)

• Galaxy Digital CEO says the Spot Bitcoin ETF approval is coming before January 10th (@BitcoinMagazine)

• SEC to make a decision on BlackRock Spot Bitcoin ETF January 9th (@bitcoinlfgo)

• Montenegro court revokes Do Kwon’s extradition to U.S. (BLOCK)

• Belgium to push European blockchain network during EU council presidency (M)

• Transaction or “gas” fees are surging for many L1s, causing distress (DT)

• Marathon Digital makes $179M investment acquiring 2 sites for mining activities (BiC)

• Ark Invest sells $28M of Grayscale Bitcoin holdings (@bitcoinlfgo)

• Bitwise drops a Bitcoin ETF ad 👀

• MapleStory gets $100M backing from Nexon for blockchain gaming initiatives (NFTG)

• Fairshake Super PAC raises $78M to support crypto candidates in 2024 (M)

• Tres, a crypto accounting and tax reporting platform, raises $11M from investors Faction, New Form and more (CD)

• Foresight Ventures launches its 3rd $10M accelerator (CT)

• NFTperp secures $3M Series A led by XYZ Capital for NFT trading (TEK)

• Social-Fi startup Reach raised $1M on-chain in less than 24 hours from Seedphrase, Zeneca, and others with mission to ‘fix crypto Twitter’ (FSME)

• Hong-Kong’s Enphyr raises $1M seed on $10M post led by WavesLab Ventures for L2 data privacy solution (FSME)

• DWF Labs announces strategic investment in MOBOX for web3 gaming (DWF)

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• Coinbase seeks judicial review on SEC ruling (P)

• Big crypto laws predicted to come in 2024 (DIN)

• Circle and Fuze sign Memorandum of Understanding to explore USDC push through MENA (C)

• Hashkey Capital granted Capital Markets Service license in Singapore (CD)

• Court approves CFTCs settlement with Binance (P)

• Elizabeth Warren pushes back against blockchain lobbying (CD)

• Michael Saylor explains why the new FASB accounting rules for Bitcoin is such a revolution for cash giants like Apple (@BitcoinNewsCom)

• CertiK warns OKX wallet users to update iOS app immediately to avoid code vulnerability (CD)

• Ledger to reimburse victims of ConnectKit hack (CT)

• NKAbuse utilizing blockchain technologies to conduct DDoS attacks (THN)

• Yuga Labs recovers stolen apes with 120 ETH bounty (DC)

• Hacker steals $830K of Solona game Aurory (TD)

• CoinCloud crypto ATMs in H-E-B grocers may have lead to personal information hacks (EXN)

• Top Crypto Hacks 2023: A deep-dive report (CPED)

• Blur and OpenSea get beat in daily trading volume by OKX NFT Marketplace with $50M on Dec. 18 (CT)

• SEC delays Ethereum ETF decision to May (CT)

• Frame tokens airdrop, for Ethereum NFT traders (DT)

• Ethereum continues to see massive spike in gas fees (CPOT)

• ETH average gas price jumps to nearly 60 Gwei

• Jupiter announced its airdrop set for January (D)

• Circle issues Euro-backed stablecoin on Polygon blockchain (M)

• Institutions break 11th week straight buying crypto (TD)

• Cipher Mining purchases 37,000 Bitmain Antminers for $100M (CT)

• Avalanche blockchain gas fees also see major spike, nearing $4.41 for average gas payment on Dec. 18 (CPOT)

• 7RCC files for 80% BTC 20% Carbon Credits Futures ETF (@BitcoinNewsCom)

• Coinbase is the custodian for 10+ Spot Bitcoin ETFs (@AltcoinDailyio)

• Spot Bitcoin ETFs could unlock $30T of advised wealth according to Grayscale (@WatcherGuru)

• Bitcoin ETF: the greatest Wall Street Innovation in 30+ years

• Expert predictions on real world assets in 2024 (M)

• DAOs future in web3 (T)

• 2023: A constructive year for crypto (CD)

• 5 Must Do’s for success in the 2024 crypto bull run (@LadyofCrypto1)

• Messari’s Crypto Theses 2024: key people, companies, trends, and predictions (M)

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