Originally aired on August 14, 2023
In this episode, host Wendy O discusses the latest crypto news, including major announcements from Hedera and Ripple, Trump potentially approving Bitcoin ETFs, Coinbase layoffs, and more. She provides market analysis on Bitcoin and HBAR price action. Other topics include Ripple’s XRP faucet on Gemini, amicus briefs supporting Coinbase, the SEC’s spot Bitcoin ETF outlook, PayPal’s crypto features, Celsius shutting down, and SBF being jailed for witness tampering. Overall, it covers breaking developments across regulations, adoption, major crypto projects, exchanges, and markets.
What is the big Hedera announcement?
- FedNow added Hedera’s hbar-powered micropayments company Drop to its database
- Validates Hedera’s tech for bank settlement use cases
- HBAR price surged 15% on the news
How is Ripple promoting XRP adoption?
- Gemini launched an XRP faucet giving away $4,000 in XRP daily
- Aims to drive awareness and usage of XRP
- But limits on transferring or selling XRP make utility unclear
Who is supporting Coinbase against the SEC?
- Senator Lummis and 6 law professors filed amicus briefs
- Argue SEC overreaching in trying to label most crypto as securities
- Briefs could influence court to dismiss SEC charges
What’s the outlook for a Bitcoin spot ETF approval?
- Ex-SEC attorney says no approval until after 2024 election
- Current SEC leadership seen as roadblock to approval
- Next GOP administration could take more crypto-friendly stance
What new crypto features is PayPal rolling out?
- “Crypto Hub” to enable users to hold crypto in PayPal accounts
- Allows buying, selling, and spending crypto via PayPal
- But security risks in keeping crypto on PayPal versus self-custody
How is bankrupt Celsius Network shutting down?
- Shutting app down in 90 days, assets moved to new entity
- At least $2B in crypto to be distributed to creditors
- Celsius rewarding users who earned yield on their deposits
Why did the judge send SBF back to jail?
- Prosecutors alleged SBF violated bail by witness tampering
- Judge ruled probable cause of tampering, revoked bail
- SBF appealing but expected to remain in custody until October trial
00:00 – Intro
01:20 – Verify everything, fact check & due diligence
05:30 – FED now working with Hedera Hashgraph
07:15 – The entire crypto market
07:30 – BTC daily & 12h
09:25 – HBAR price analysis
11:20 – Gemini launches $XRP faucet
13:35 – Amicus Briefs filed in support of Coinbase
16:30 – Understand bear market price action
21:55 – What is an investment contract?
25:35 – BASE is permission less
27:40 – BALD token rug pull update
29:30 – Former SEC attorney says no ETF until 2024
31:50 – Donald Trump holds a lot of crypto
36:40 – Paypal launches “Crypto Hub”
37:50 – Celsius network chooses PayPal for repayments
38:50 – SBF FTX in jail
43:05 – Voyager digital liquidation speculation
43:50 – Uniswap employee rugpulls memecoin