🧠 Your weekly crypto round-up

Global markets, NFT sales, 3AC is back, and more.

January 20, 2023

GM Seedphrase Nation 👋  Welcome to your exclusive weekly web3 cheat sheet. On Fridays, we vet hundreds of weekly headlines to give you the top 15. 

How it works: you sit back, relax, and click any headline that sparks your interest.

🌍 Global Market Updates

  • Microsoft laying off 10,000 employees.

  • Goldman Sachs letting go of 6.5% of its global workforce

  • Finance giant BlackRock: 3.5% of global work force.

  • Amazon: 18K employees.

  • Coinbase: 950 employees.

  • If you didn't know, India banned (most) cash in 2016.

  • They have been using central bank digital currency instead.

  • The governor warns that crypto could cause India to lose control of its money supply.

    • Ok, that wasn't the headline... Just wanted to make sure you're paying attention. What he actually said was he wants the country to be the world's leading jurisdiction for crypto. They've already got their CBDC running.

    New Jersey is not Global News but...

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    We think market conditions will get worse this year before they get better. But this headline hurt. 

    Sad Black Friday GIF by Jon Frickey

    • The NFT market is down horrendous compared to ATHs. We know this.

    • But data is tough and can be misleading. Headlines are claiming an 87% drop in NFT sales in one year.

    • But the data is really only comparing sales in the month of January.

    • In 2022, January sales were a whopping $2.8B.

    • Now: NFT sales this month are $492 million.

    angry nat geo GIF by Nat Geo Wild

    • ^ That's a reenactment of the publics response to Nat Geo's NFT drop.

    • The sentiment was clear: the term "NFT" triggers responses like "bullshit" & "scam."

    • To make things worse, Nat Geo had major tech issues which prevented many from minting.

    • Here's their Twitter announcement.

    Cribs GIFs - Get the best GIF on GIPHY

    • You may have used Zillow to check out some homes, and if you're really crazy, you've probably looked at the home value of your significant other... No? Just us? Anyways...

    • What it is: Metahood will serve as the database for metaverse land sales.

    • They just raised $3M in VC funding.

    Im Back Wake Up GIF

    • We imagine this was his face when he found out SBF scammed him.

    • $100,000: how much he lost to the FTX crash.

    • People didn't believe him, so he brought receipts, including medical bills.

    • You can't make this sh*t up folks.

    • These are the guys who apparently used investor funds for a $50M yacht.

    • Refresher: 3AC was a crypto hedge fund that was run to the ground by its founders. Then, the founders were on the run from creditors. They filed for bankruptcy and left millions of investors and customers high and dry.

    • Now, they're building a new scam crypto exchange called FTX GTX.

    • Who? Bitzlato is a little-known crypto exchange that has allegedly engaged in money laundering with Binance, and a few others...

    • Arrested in Miami: Russian co-founder of Bitzlato is now in custody for processing $700M in illicit funds (allegedly.)

    • There's SO much more to this story... If you want to go down the rabbit hole, here are a few options: funds on Blitzlato tracked & a detailed (conspiracy) theory.

    Check out their announcement here: 

    More Headlines:

    Trump plans his return to Facebook & Twitter as bans are lifted - Read

    Coinbase halts all operations in Japan, following competitor Kraken's lead. - Read 

    Beeple announces grand opening of his own studio on March 11th in Charleston - Read

    Discord acquires Gas, app for teens to complement each other - Read

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    DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research

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