Scenius Sync (Issue #78)

Presidential Hopefuls Chat Crypto, Larry Fink Is Decrypt’s Person of the Year, Google To Allow Crypto Ads Ahead of Expected BTC ETF, Pudgies Announce Web3 Game & UNI V3 Expands to Bitcoin Sidechain

Scenius: The intelligence and the intuition of a whole cultural scene. The communal form of the concept of genius.

Welcome to The Scenius Sync.

Our mission with this concise publication is twofold:

1. Share the essential stories driving the crypto industry and markets.

2. Highlight innovative applications and mainstream adoption of crypto and blockchain technology.

If you find this newsletter valuable, please subscribe and share The Scenius Sync with your network 💪

---

Most firms who transact on-chain are vulnerable to theft. DeFi Armor is a simple and secure co-signer that protects your on-chain assets, without requiring you to change your custody. If you trade on-chain, click the link below to learn more about DeFi Armor.

---

---

Essential News 🗞

1. Presidential hopefuls discuss Tornado Cash and pending legislation during Stand With Crypto event

   • In a relatively rare move, U.S. presidential candidates got into the nitty gritty over cryptocurrency related issues at an event organized as part of Coinbase's grassroots initiative, Stand with Crypto.  Republican presidential candidates Asa Hutchinson, Vivek Ramaswamy and Democratic presidential candidate Dean Phillips spoke with CoinDesk, which was sponsoring the event, on Monday at the New Hampshire Institute of Politics at St. Anselm College. 

2. Decrypt's 2023 Person of the Year: BlackRock CEO Larry Fink

   • No topic has done more to bring hope to the crypto faithful in 2023 than the prospect of a spot Bitcoin ETF—and no one person has done more to make that dream a reality than BlackRock CEO Larry Fink.

3. FTX says IRS demand for $24 billion in unpaid taxes is delaying recovery of user funds

   • The Internal Revenue Service should substantiate its claim against FTX and show how it estimated back taxes it says are due, FTX lawyers said on Sunday in a new filing to a Delaware bankruptcy court. The move is the latest in a months-long dispute between the IRS and the FTX bankruptcy estate over how much the bankrupt exchange and its affiliates owe the government in unpaid taxes. While FTX claims it owes nothing to the IRS, the tax agency wants as much as $24 billion, more than three times the amount the estate currently has to try and make creditors whole. 

4. Tether freezes all OFAC-sanctioned wallets in 'proactive' security measure

   • Tether, the company behind the world's largest stablecoin, has frozen the wallets of individuals sanctioned by the U.S. Office of Foreign Asset Controls (OFAC), the company announced today. In its announcement, Tether framed the move as a voluntary step to "proactively prevent any potential misuse of Tether tokens and enhance security measures," and clarified that existing wallets on the OFAC list would be frozen along with any new wallets added in the future. The move appears to be one of the first significant moves made by CEO Paolo Ardoino, the company's former CTO who took the helm this month.

5. U.S., South Korea, Japan Discuss North Korean Crypto Thefts in Trilateral Meeting

   • National security officials with the U.S., South Korean and Japanese governments discussed North Korea's crypto thefts and other efforts to work on its nuclear and ballistic missile programs, the White House announced Friday night. U.S. National Security Advisor Jake Sullivan, Republic of Korea National Security Advisor Cho Tae-Yong and Japan National Security Advisor Takeo Akiba met in Seoul, South Korea to discuss various issues, including the Democratic People's Republic of Korea (DPRK, the official name for North Korea) and its ongoing weapons of mass destruction program, a White House readout said.

---

Innovation & Adoption 💡📈

1. Google Quietly Revising Crypto AD Rules Ahead of Expected Bitcoin ETF Launch

   • Beginning January 29, 2024, the search giant's revised policy will permit advertisers offering "Cryptocurrency Coin Trusts" targeting the United States, provided they meet specific requirements and gain Google's certification.

     This development marks a notable shift from Google's historically cautious stance toward cryptocurrency-related advertisements. The company had previously imposed embargoes on all manner of crypto ads, citing concerns about potential fraud and misleading promotions. However, as the Bitcoin landscape evolves and gains mainstream acceptance, Google appears to be recalibrating its approach.

   • In other Google news, Google Cloud to Run Validator on Crypto Gaming Network XPLA

2. Decrypt Media Inc. and Rug Radio Merge to Create Global Web3 Publishing Company

   • Decrypt Media Inc. and Rug Radio have announced their intent to merge, creating the world’s biggest decentralized publishing company. Codenamed [REDACTED], the alliance is aimed at revolutionizing tech-media, bringing together the forces of content creation and consumption. The merger is slated for completion by the end of January.

3. Decentralized Exchange Uniswap Expands to Bitcoin Sidechain Rootstock

   • Decentralized exchange Uniswap expanded to the Bitcoin sidechain Rootstock, in a boost to the world's largest blockchain's decentralized finance (DeFi) landscape. Uniswap version 3 (v3) has been deployed on Rootstock by GFX Labs, the team behind trading terminal Oku, according to an emailed announcement shared with CoinDesk on Monday. According to Uniswap's website, the project, originally designed for Ethereum, has also been deployed on the Ethereum layer-2 networks Arbitrum, Optimism and Polygon.

4. Pudgy Penguins announces 'Pudgy World' Web3 game on zkSync blockchain

   • Pudgy Penguins, the popular NFT project, has announced the next stage of the project's development: Pudgy World, a Web3 game powered by Ethereum Layer 2 network zkSync Era, that the company describes as an "immersive, digital environment."  Pudgy Penguins's announcement comes at a time of particular success for the project. The floor price of its NFTs has nearly doubled in the past two weeks, according to data from Opensea, and the brand recently launched toys in 2,000 Walmart stores across the country — a bit fewer than half of over 4,000 branches in the United States. Pudgy World's alpha will be open to all gamers, though Pudgy NFT holders and Pudgy Toy buyers will be able to claim unique perks inside the game's virtual world.

5. Over 11 million LINK staked in half hour as Chainlink staking v0.2 early access goes live

   • Early access to Chainlink Staking v0.2 has gone live, and more than 11 million

     were staked in first 30 minutes, according to a statement. The early-access launch follows last month's nine-day "priority migration" period where existing v0.1 stakers could transition their staked LINK and rewards to the new version. Chainlink Staking v0.2 comes with an expanded pool size of 45 million LINK. Decentralized computing protocol Chainlink is crypto's most popular oracle network that provides external, real-world data to blockchain applications. Chainlink staking first went live a year ago. The move increased utility for the token and enabled LINK holders to back the performance of oracle services. Holders can earn rewards for helping to secure the network.