SEC Declares Crypto as Securities?

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Happy Friday to our favorite people 🫶🏼 Lots of news this week with a fairly green week in the crypto markets! Finish off the week strong, continue building, and keep away the FUD! Enjoy this week's final read and we look forward to delivering you more news on Monday 👇🏼

• Top German bank Siemens releases $60M digital bond on Polygon (BW)

• Ordinals is creating some of the highest usage of bitcoin blockchain in history (@BitMEXREsearch)

• El Salvador is working with Texas to open a bitcoin embassy (CD)

• Sequoia Capital and Paradigm are targets of law suit from individual FTX Investor (BBG)

• Binance moves $400 million from U.S. partner to a firm CZ manages (REUT)

• SEC Chair Gary Gensler proposes federal amendment of asset custody, impacting all crypto custodians (CNBC)

More on what Gensler said:

• Abu Dhabi starts $2B initiative to fund web3 startups (CD)

• NFT market gets a boost from $400MBlur airdrop (TD)

• TD VC has $10 million committed from GPs for $100 million web3 fund, TDeFi (BZ)

• Billionare George Soros fund dives deeper on crypto bets (CD)

• Sony and blockchain innovator Astar Network partner for web3 startup incubation program (FF)

• Sending Labs raises $12.5MM in fresh funding from Insignia VP and MindWorks Capital for DApp communication tool (CD)

• UK-based Nefta secures $5 million from top VC Play Ventures, bringing total capital raised to $6MM+ (GP)

• Web3 messaging platform Salsa, a completely female-led startup, raises $2MM pre-seed round (CD)

• Terra founder Do Kwon is being charged for fraud by U.S. SEC (UW)

• UAE central bank to launch CBDC for domestic and cross border payments (WG)

• The SEC is coming after hedge funds (Bloomberg)

• Congress has control of crypto regulation, not the SEC (@jchervinsky)

• Crypto is feeding Russia's war efforts despite sanctions (CD)

• Hong Kong needs more than just additional regulation to become the world's web3 tech hub (SCMP)

• Binance and Huobi freeze $1.4M in crypto tied to Harmony bridge theft (CD)

• $5.9 million recovered by Norwegian police from $600MM Axie Infinity game hack in 2022 (CT)

• Wyoming passes law prohibiting forced disclosure of private keys (CD)

• Web3 Antivirus founder and Forbes Technology Council member, Alex Dulub, discusses future solutions for Web3 security concerns (CT)

• Alastair Johnson advocates for web3 platforms and DeFi to with possibility to comply with regulations without compromising privacy (CT)

• 'Crowd Looting' and market manipulation were linked to nearly half ($1.35B) of all crypto hacks in 2022 (FXS)

• $169k Bored Ape is burned from ETH and transferred to Bitcoin (Y)

• Bored Ape #1273 sold for 93 ETH (~ $160k USD) (BZ)

• Merge Upgrade leads to decrease in 37% of ETH supply on exchanges (CT)

• Technical indicators lead to 'death cross' for ETH, implying another 15%+ drop is on the way (CT)

• Monab Labs raises $19 million for improving smart contracts on Ethereum (TC)

Is the Ape gone forever?

• Binance officially launches Debit Card in Brazil (UW)

• Crypto investors gambled $4.6 Billion on 'Pump & Dump' tokens in 2022 (CT)

• $BLUR's crazy airdrop story (@thedropnft)

• Elizabeth Warren is recruiting and building her anti-crypto crew with both democrats and republicans (PTCO)

• Bitcoin crossed $25,000 before steep 8% downturn Thursday (@CMC)

• Zero-Knowledge (ZK) encryption is a top solution for access and data privacy in web3 (VB)

• Algorand's Foundation CEO Susan Warden speaks on recent crypto crackdown and clarity of the future in crypto, web3, and DeFi (CD)

• What exactly is 'Crowd Looting' and how it led to a $200 million exploit (TREG)

Bitcoin performance this month

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