The Scenius Sync (Issue #26)
SBF (Finally) Behind Bars, Crypto's 50 Most Influential People, & Goldman Is Hunting for Post-FTX Crypto Bargains
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:
Share the essential stories driving the crypto industry and markets.
Highlight innovative applications and mainstream adoption of crypto and blockchain technology.
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Essential News 🗞
Sam Bankman-Fried Arrested in The Bahamas
Bahamian authorities have arrested disgraced former crypto billionaire Sam Bankman-Fried at the request of the US government, according to the Prime Minister’s Director of Communications, Latrae Rahming. SBF is scheduled to testify at the December 13th House Hearing. It’s not yet known whether he will be called to testify after his arrest.
Presenting CoinDesk's 50 Most Influential People for 2022
Fifty people who defined the year in crypto.
Coinbase Announces Zero-Fee USDT to USDC Stablecoin Conversion
The stablecoin wars rage on as Coinbase rolls out zero-fee conversions from Tether to Circle's USDC.
US Prosecutors Look to Charge Binance, Executives on Possible Money Laundering Violations
U.S prosecutors are considering criminal charges against crypto exchange Binance and individual executives, including founder and CEO Changpeng Zhao, Reuters reported, citing two people. The Department of Justice has also discussed possible plea deals with Binance's lawyers while other prosecutors believe that more evidence needs to be gathered before a criminal case can be filed, causing a split within the Department of Justice. Binance refuted the Reuters article.
SBF secretly funded crypto news site
The Block, a media company that says it covers crypto news independently, has been secretly funded for over a year with money funneled to The Block's CEO from the disgraced Sam Bankman-Fried's cryptocurrency trading firm. The Block’s CEO has resigned. Claims of any undue influence on the newsroom have been denied, all of the senior leaders are staying with the organization, and the company says it will continue to operate and publish.
Innovation & Adoption 💡📈
Goldman Sachs on hunt for bargain crypto firms after FTX fiasco
Goldman plans to spend tens of millions to buy or invest in crypto companies after the collapse of FTX hit valuations and dampened investor interest.
Bermuda Digital Bank Jewel Issues ‘Fully-Backed’ Stablecoin
Bermuda-based Jewel Bank said it is issuing a fully backed stablecoin called Jewel USD (JUSD) that can be accessed through the Polygon network. Jewel said JUSD will maintain a reserve ratio with a minimum of 1:1 with the U.S. dollar, ensuring the bank will always have funds in its reserves to support each JUSD in circulation. The bank said it will also conduct regular audits of its stablecoin reserves, and will provide reports on a monthly and quarterly basis.
Starbucks Launches Beta of Web3 'Odyssey' Loyalty Program
The test of the experiential program combines customer loyalty rewards with NFT collecting and other gamified elements.
Over $30M Pours Into ApeCoin Staking in First Day
One day after the Ape Foundation opened staking for its APE currency, over $30 million worth of the tokens has been deposited into its smart contract. The token, which is the native currency of the Yuga Labs ecosystem, was airdropped to holders of the Web3 collective’s mainstay NFT collections, Bored Ape Yacht Club and Mutant Ape Yacht Club, back in March.
Telegram to allow no-sim accounts via anon-blockchain-numbers
Telegram has increased its security features by enabling support from anonymous blockchain-based numbers that go for around $16. The messaging platform has become a popular app for crypto enthusiasts. The move is part of a 9.2 update launched on Dec. 6, which also enables users to auto-delete timers on messages in new chats.