TLDR Crypto Daily Update 2022-11-24

Race to buy FTX assets 💰, ApeCoin NFT marketplace 🐒, explaining crypto at Thanksgiving 🦃

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Markets & Business

TRON CEO Justin Sun and Ripple CEO Brad Garlinghouse Race to Buy FTX Assets (2 minute read)

Tron CEO Justin Sun has confirmed that several associates are investigating FTX's assets. Sun believes that FTX's failure will dampen enthusiasm for cryptocurrency in America. Ripple CEO Brad Garlinghouse expressed interest in buying FTX's stakes in other companies before FTX's bankruptcy filing. His company has extended job offers to former FTX employees that didn't work in compliance, finance, or ethics.

NFTs Are Dead? Even in Bear Market, a Bored Ape Sells for Nearly $1 Million (3 minute read)

A Bored Ape NFT has sold for 800 ETH, or about $927,000. Bored Ape Yacht Club NFT #232 is considered one of the rarer avatars and is ranked 324th out of the 10,000 NFTs. It features gold fur, something that less than 0.5% of the NFTs in the collection have. The last Bored Ape to sell for more than $1 million was sold on October 1. A picture of Bored Ape Yacht Club NFT #232 is available in the article.
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Innovation & Launches

Japan Plans to Launch Experimental Digital Yen CBDC in 2023 (2 minute read)

The Bank of Japan is planning to launch a digital yen CBDC pilot in early 2023. It has collaborated with three megabanks for the pilot. The pilot aims to identify any issues with deposits and withdrawals and analyze whether the CBDC can function during natural calamities or when there is no internet facility. It will run for two years, after which the central bank will decide whether to move forward with issuing the currency.

ApeCoin DAO Launches Community-Driven NFT Marketplace (2 minute read)

ApeCoin DAO has launched its own white-label NFT marketplace. The marketplace lists NFTs from Yuga Labs, but it is not directly affiliated with the company. It features ApeCoin staking, NFT metadata integrations, and a reduced-fee structure for sellers. .25% of each sale will be held in a multi-signature wallet to fund future DAO initiatives.
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Guides & Resources

I believe that popular Bitcoin mixer ChipMixer is actually a United States government honeypot (5 minute read)

ChipMixer was released by a brand new anonymous account on the Bitcoin Talk forum in May 2017. The service offers mixing via fungible outputs, large reserves, a smooth user experience, clearnet access, and anonymity. Users are not charged any fees for mixing and the site runs on donations. The site has zero revenue, yet it is able to spend large amounts of money on testing and ads. Whoever owns the site can view every transaction made on it, deanonymized.

How to defend crypto with integrity this week (4 minute read)

The general public will find it hard to separate distributed ledger technology from FTX and all of the other scams. What happened to FTX could have happened to an exchange for roughly any commodity. Crypto was not specifically necessary for the FTX scam - there are many other speculative assets. FTX's accounting issues were created through incompetence and fraud. The industry funded a uniquely bad actor, but that doesn't mean that all crypto is a scam.
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Miscellaneous

The Future of MEV is SUAVE (17 minute read)

Flashbots is now working to decentralize block building to prevent centralization. Its Single Unifying Auction for Value Expression (SUAVE) offers a highly specialized and decentralized plug-and-play alternative to the mempool and block builder role. SUAVE allows crypto to stay decentralized, block builders to capture cross-domain MEV, validators to maximize their revenue, and users to transact with the best execution.

3 Things We Learned at Tornado Cash Dev Alexey Pertsev's Trial (4 minute read)

Alexey Pertsev has been in jail since August for his part in developing Tornado Cash. He must remain detained until at least February. A recent pro forma hearing hinted that the case will focus on how decentralized finance works in practice. Prosecutors will have to prove that Pertsev had control over Tornado Cash and that the service did not run autonomously.

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EL Salvador Steps Closer to Issuing Controversial Bitcoin Bonds (1 minute read)

El Salvador's new digital securities bill calls for a digital assets commission and a Bitcoin Fund Management Agency to oversee crypto-related debt sales.

New York Governor Hochul Signs Moratorium to Curb Crypto Mining (2 minute read)

New York Governor Kathy Hochul has signed a bill that triggers a two-year moratorium on new permits for crypto-mining companies that use Proof-of-Work powered by fossil fuels.

Sam Bankman-Fried to Speak at New York Times DealBook Summit (2 minute read)

Sam Bankman-Fried has confirmed that he will be speaking at the New York Times DealBook Summit next week.

Record quantities of Bitcoin leave exchanges in readiness for contagion fallout (3 minute read)

136,992 BTC, about 0.7% of the circulating supply, have been withdrawn from exchanges over the past 30 days.

Why DCG and Genesis will go bankrupt (5 minute read)

The companies are unlikely to be able to raise the funds required to keep them afloat.

CRV war was played out on #Aave yesterday (4 minute read)

The war ended with the longer defeating the shorter.

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