Chain Reaction - 22nd May 2023
Podcast updates, Binance in the spotlight and other local announcements
This week in crypto was marked by a mix of regulatory action, legal disputes, and promising developments. With Ripple Labs' ongoing legal battle seeing favorable turns and Bitcoin traders remaining confident amidst challenges, the crypto world continues to display its resilience and dynamism. The rise of new platforms like DIBA signals ongoing innovation in the space, while legal disputes like the Grumpy Cat lawsuit highlight the emerging challenges in this new digital frontier. As always, the crypto world continues to evolve at a rapid pace.
Locally, we start off this week with an announcement about some changes coming to both our podcast and how we do the weekly Twitter Spaces all part of a new kind of partnership with our friends at CryptoLulu - check that out here: https://twitter.com/AusDeFi/status/1658774675214970881
So we’ll be looking forward to getting that all setup for everyone and get back on the LIVE community podcasts (and Twitter Spaces).
Also, great to see this bit of news with Danielle Marie (aka She’s Blockchain Savvy) being named to the ACS Blockchain Committee - check out her announcement here https://www.linkedin.com/feed/update/urn:li:activity:7064339850639863808/
Congrats to our friends at Canvas for their historical achievement using the eAUD for an FX transaction https://cointelegraph-com.cdn.ampproject.org/c/s/cointelegraph.com/news/australia-uses-cbdc-in-fx-transaction-pilot-test/amp
Great highlight pointed out by Steve Vallas on LinkedIn to this article in the ABC showcasing the focus of the Federal government on scams. Much needed to be aware of in the web3 space and for all of us to do our thing to protect consumers. https://www.abc.net.au/news/2023-05-15/details-of-new-scam-centre-announced-by-government/102345782
Also great to see the announcement of a new fund from Chris Dixon, Squishy Capital. See more in his announcement here https://www.linkedin.com/posts/chris-dixon-596293184_squishycapital-crypto-finance-activity-7065133629697372160-_yLT?utm_source=share&utm_medium=member_desktop
Later this week we also have our Aus DeFi Association Sydney meetup - more details here https://www.meetup.com/australian-defi-association/events/293164839/
There's also a few of us heading over the the Telstra Ventures x Blockdaemon meetup at CryptoLulu - more details here https://lu.ma/j4xspp0b
Other News
Bitcoin Pizza: What You Could Buy for 10,000 BTC Over the Course of Bitcoin’s Life - A fascinating look at what you could have purchased with the equivalent of 2 Bitcoin pizzas over the years. Don't miss out on this journey through Bitcoin's historical purchasing power. https://thechainsaw.com/defi/bitcoin/bitcoin-pizza-index-tastiest-most-straightforward-way-to-track-bitcoin-price/
Grumpy Cat Sent An NFT Lawsuit to Crypto Bros Who Used Its Image For A Memecoin - Grumpy Cat isn't pleased with its likeness being used for a memecoin. Read more about this unprecedented NFT lawsuit. https://thechainsaw.com/nft/grumpy-cat-nft-lawsuit-to-crypto-bros-nyan-cat-memecoin/
XRP Creators Drop $250M on a ‘Crypto Custody’ Company - Ripple Labs, the creator of XRP, has made a huge investment in a 'Crypto Custody' company. Could this be a game-changer for the future of XRP? Find out more. https://thechainsaw.com/defi/ripple-buys-crypto-company-what-will-the-price-of-xrp-do/
Binance Australia Suspends AUD Deposits & Withdrawals With ‘Immediate Effect’ - In a sudden move, Binance Australia has suspended AUD deposits and withdrawals. This isn't the first time the crypto exchange has abruptly suspended certain services. https://thechainsaw.com/defi/binance-australia-suspends-aud-deposits-withdrawals-with-immediate-effect/
The XRP Price Has Shot Up 9.5% in the Wake of a Gamechanging Court Ruling - Ripple Labs manages to secure a potentially game-changing court ruling, and the XRP price responds with a 9.5% surge. Learn more about this development and its implications. https://thechainsaw.com/defi/xrp-price-rises-after-ripple-gets-a-win-with-hinman-documents/
Litecoin Is Undervalued, Onchain Indicator Suggests - Litecoin, despite its impressive rally this year, may still be undervalued according to an onchain metric called the MVRV Z-score. Dive into the details here. https://www.coindesk.com/markets/2023/05/19/litecoin-is-undervalued-onchain-indicator-suggests/
Traders Long on Bitcoin Despite Debt Ceiling Challenges, Dark U.S. Regulatory Clouds - Bitcoin traders remain bullish even in the face of debt ceiling challenges and regulatory concerns. Read on to understand their optimism. https://www.coindesk.com/markets/2023/05/19/first-mover-asia-traders-long-on-bitcoin-despite-debt-ceiling-challenges-dark-us-regulatory-clouds/
NFT Marketplace DIBA Goes Live on ‘Really Good for Bitcoin’ Smart Contracts - DIBA, a new NFT marketplace, has gone live and is leveraging Bitcoin-based smart contracts. Find out more about this exciting launch. https://www.coindesk.com/tech/2023/05/19/nft-marketplace-diba-goes-live-on-really-good-for-bitcoin-smart-contracts/
We also saw the Bankless crew talk about crypto hardwallets in this episode of their weekly roll-up. Worth a watch
ABOUT AUS DEFI ASSOCIATION
The Australian DeFi Association (Aus DeFi) is a non-profit community organization dedicated to increasing education and awareness of blockchain technology, specifically decentralized finance (DeFi) and web3-based projects. Their goal is to empower the Australian community with the knowledge and tools to participate in the decentralized economy, and to promote the adoption and growth of blockchain technology in Australia. They strive to provide a more grassroots approach to promoting blockchain technology compared to other industry-focused organizations in Australia, and to provide a platform for community members to learn about and engage with this emerging technology.
You can watch our recorded meetups and interviews here on YouTube: https://www.youtube.com/@ausdefiassociation3956/videos
SPONSORS
We also thank all of our sponsors who help us run and organise and keep this association going. We could not do it without them so check out their details here