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In this brand new series, we at CoinDCX want to keep you abreast of everything that has been happening on Twitter, crypto and everything in between. The first month of 2023 has been in a whirlwind of activity – primarily led by strong positive action coming out of the crypto market. The past week saw some slower muted action on the charts, which is but natural after the near three weeks of consistent recovery in the crypto market led by Bitcoin.
Additional Read: Top Crypto Projects 2023
MONDAY – 23 JANUARY
While crypto prices remained mute, the week began with a lot of action on the news front. The biggest news of the week definitely had to be the battle brewing up between the two largest centralized crypto exchanges in the world – Coinbase and Binance.
Coinbase’s Conor Grogan, who happens to be a director at Coinbase, took to Twitter to allege that there has been some “obvious insider trading” happening at Binance in the past 18 months. Take a look.
It appears that there is a pattern of Binance front-running over 18+ months
I found connected wallets that:
-Bought $900k Rari seconds before and dumped minutes after listing
-Bought ~78K ERN between June 17 and June 21 and sold right after listing announcement
-Did same w/ TORN https://t.co/yAolrfeHkO pic.twitter.com/VRq3vzfcgd
— Conor (@jconorgrogan) January 23, 2023
This is an allegation that has been doing the rounds for quite some time now in the world of crypto. However, in other good news – a crypto research firm Maxtriport claimed that the start of the Chinese New Year, statistically has been a good time to go long on crypto assets!
Buying Bitcoin at the end of the first day of Chinese New Year and selling it 10 days later would have returned +9%, on average, with all of the last eight years (2015-2022) showing positive returns.
This is a hit ratio of 100% (8 wins, 0 losses).
– Matrixport research pic.twitter.com/ryPoJvZ7ql
— db (@tier10k) January 23, 2023
TUESDAY – 24 JANUARY
Sam Bankman-Fried and his crypto exchange FTX, which suffered a catastrophic collapse early in November 2022 still managed to feature on headlines, almost three months since the event. In the latest piece of news, according to a crypto whales news account on Twitter, $50 million of SBF’s funds had been seized from a minuscule bank in the US – a bank in which SBF himself had purchased a stake in for $11 million.
BREAKING: Prosecutors have seized $50 million from Sam Bankman-Fried's account in the tiny rural Washington State bank, the Farmington State Bank, where last year he purchased an $11 million stake in the bank itself.
— unusual_whales (@unusual_whales) January 24, 2023
So much for the $100k left as claimed by SBF in an interview.
“I have nothing left…I have $100,000 left in my bank account”
Being broke as a rich person is wild. I’ve never had $100,000 in my bank account
— Armand Domalewski (@ArmandDoma) December 1, 2022
And on the same day we saw news reports coming that El Salvador, the first country to make Bitcoin a legal tender – might be going under! Amid protests sparking off from various parts of the small nation – El Salvador’s President, Nayib Bukele took to Twitter to post a multi-threat string of reports criticizing his decision to impose Bitcoin as a currency upon his country.
In the past year, almost every legacy international news outlet said that because of our “#Bitcoin bet”, El Salvador was going to default on its debt by January 2023 (since we had an 800 million dollar bond maturing today).
Literally, hundreds of articles https://t.co/rEiK7K13U4
— Nayib Bukele (@nayibbukele) January 24, 2023
WEDNESDAY – 25 JANUARY
Crypto lender Genesis, the latest in the line of crypto firms that are facing tough times amid the bear market and fallout from the various other crashes happening all around – claimed that it is owed $21 million from a person named Roger Ver, also known as “Bitcoin Jesus”. Ver however, responded that Genesis needed to be solvent themselves for him to fulfil his obligations to the firm.
Margin came calling and Roger didn't pickup
Genesis issue summons to Roger Ver for failing to settle $20m of crypto options pic.twitter.com/jZRKz4pxuw
— db (@tier10k) January 24, 2023
In a major development from the world of NFT’s and luxury cars – Porsche, which had recently launched its NFT collection to commemorate its Porsche 911 – turns out can be returned! This was a beautiful score by the legal team at the company and has the possibility to set a precedent in the industry!
That means, even if the floor price of the NFT you minted from Porsche of the 911 car hits 0, you can opt for a full refund within the period of 14 days since the purchase! Mind-boggling!
Porsche are giving you the option to RETURN YOUR NFT within a 14 day period of minting in exchange for a FULL REFUND.
It doesn't matter if the floor price is ZERO. You have the right for a full refund.
— Paul | Top Dog Studios (@darkp0rt) January 25, 2023
This is a big development!
Also, as a passing mention – halfway through the week, the Twitter account of one of the biggest brokerage firms in the US, Robinhood was hacked to promote – you guessed it – a crypto token. Surprise, surprise!
Looks like Robinhood account got hacked and was promoting a coin on BNB Chain. Always have critical thinking even is the account looks or is real. https://t.co/XSwHIVdEdw
— CZ 🔶 Binance (@cz_binance) January 25, 2023
THURSDAY & FRIDAY – 26 & 27 JANUARY
While India celebrated its 74th Republic Day on this day – the crypto market went by in a relatively uneventful manner. Some peace before the storm, is it?
SATURDAY – 28 JANUARY
The 28th of January marked a very important date for the Indian Web3 ecosystem as CoinDCX, along with Forbes India, kicked off its Namaste Web3 event to take Web3 to the masses and promote adoption.
— Forbes India (@ForbesIndia) January 28, 2023
Catch the latest top crypto news daily on CoinDCX blog.
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