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 – led by strong bullish action coming from the leaders of the crypto market. The past week saw some slower muted action on the charts, which is but natural after the near four weeks of constant recovery in the crypto market led by Bitcoin.
Additional Read: Top Crypto Projects 2023
The week began in a more or less uneventful manner, and that’s not necessarily bad news either. Sometimes, no news does tend to be good news – especially in a bear run of the crypto market where things can get heated up. While the last week of January saw a lot of heat brewing up between the two largest centralized exchanges in the world – Binance and Coinbase, things seemed more toned down this week.
But on the other hand, as much as the disgraced founder of the collapsed FTX crypto exchange may want this whole fiasco to be over, Sam Bankman-Fried continues to be in the talks everywhere – especially on crypto Twitter. Late on Monday, popular crypto news account who goes under the pseudonym @tier10k took to Twitter to share an email sent by SBF to a witness in the ongoing case against him on several charges of financial crimes. It was pretty damaging too, take a look.
SBF to 'Witness 1' pic.twitter.com/A0jTsAVFn2
— db (@tier10k) January 30, 2023
Very similarly, SBF also allegedly tried to connect with the newly appointed CEO of the FTX crypto exchange and bankruptcy lawyer, John Jay Ray III.
He also tried to link up with John Ray 3 in NYC pic.twitter.com/6xOylR5YoJ
— db (@tier10k) January 30, 2023
Even Coinbase is seemingly getting down into the game to release information regarding SBF and its activities while running the FTX crypto exchange and crypto hedge fund, Alameda Research. Coinbase director Conor Grogan shared a very incriminating list of purchases made by Sam Bankman-Fried and Alameda Research.
Some of the things that SBF/Alameda bought:
– $18k of Pebble, a fractionalized NFT of a picture of a rock
– 540 "Storyblocks" NFTs "AI generated short-stories for your Loot"
-$605 of CarolineDAO NFTs a "SimpDAO for Caroline Ellison"
-$135k of "CUMROCKET"
-~$20k of "TENDIES" pic.twitter.com/GKy9r3qYFT
— Conor (@jconorgrogan) January 31, 2023
Early last week, Grogan even accused the FTX’s elite of having a hand in the collapse of the now-bankrupt crypto lender Celsius and Three Arrows Capital (3AC) by depegging Lido Staked Ethereum (stETH).
On 6/8/22, 2 mystery wallets withdrew $75M+ of stETH from FTX
They then proceeded to market-sell everything, kicking off a "de-peg" event seen as one of the contributing factors to Celsius's bankrun and the demise of 3AC
We know today that SBF/Alameda was behind these sales pic.twitter.com/nRv9ev4VoM
— Conor (@jconorgrogan) January 29, 2023
As the rampage of the bear market tore through the year 2022, new information recently came to light suggesting the bankrupt crypto lender, Celsius was insolvent as far back as early 2021, amid the raging bull phase of the crypto market. Well known crypto Twitter personality, Thomas Braziel took to Twitter to share a data point from the Examiner’s Report into Celsius. Thus fuels more and more skepticism against the centralized crypto service offerings like lending and borrowing by these crypto firms.
#Celsius – wow using the Examiner’s report and excluding CEL tokens, it seems Celsius was insolvent as far back as early 2021 pic.twitter.com/WCeC65Zp9t
— Thomas Braziel (@ThomasBraziel) January 31, 2023
As we are seeing some recovery in the crypto market since the beginning of 2023, things seem to be changing on the fundamental level too, especially for the Polygon network. A Twitter account dedicated to delivering news regarding the Polygon ecosystem put up some really positive stats about the network. According to the report, there were more individual NFTs sold on the Polygon than even Ethereum via the largest NFT marketplace, OpenSea – that too for the second consecutive month in January 2023.
In January, OpenSea @0xPolygon had the highest amount of monthly active users since September 2021🤯
This is the second highest amount of monthly users ever. pic.twitter.com/pM0bZHjN7j
— Narb (@NarbTrading) January 31, 2023
The month of February also began on a very positive note for the world of decentralized finance (DeFi) services and the decentralized autonomous organisations (DAOs) in the space that usually run these DeFi platforms. According to data published by DeepDao.io’s Twitter handle, the table shows there has been a very significant growth in the overall DAO treasury funds over the month of January 2023.
1/4 DAO treasuries jumped 38.5% in January, from $8.9B to $12.3B 👏 With their strong performance, the DAOs out performed both ETH (30.9%), and BTC (38.2%)
In the top 20, the biggest gainers are @decentraland, @fraxfinance, @LidoFinance, and @CurveFinance
Here are the top 20👇 pic.twitter.com/0rmhhEVyyv
— DeepDAO.io (@DeepDAO_io) February 1, 2023
I have resigned from @Mastercard.
For the past year, I served as the ‘NFT Product Lead.’ I evangelized Web3 for Mastercard leadership & regional teams, as well as all our Fortune 500 clients & partners.
This wasn’t easy but read on for why it was necessary, and what’s next 🧵: pic.twitter.com/kqiavsSIW7
— Satvik Sethi (@sxtvik) February 2, 2023
🐳 Whale addresses holding between 1M to 100M $IMX tokens have increased their holdings by more than 58% since November, 2022. Read our community member's short take on #ImmutableX , #ZeroKnowledgeProof, and why you should be paying attention to these. https://t.co/FJNC2kARmh pic.twitter.com/2swLWbNJw6
— Santiment (@santimentfeed) February 2, 2023
The weekend these days have been passing somewhat in a calm manner, despite the fact that crypto markets are a 24×7 affair – people who took a break this weekend weren’t up to a nasty surprise this week. Like I said before, no news is something good news in the world of crypto.
Read More: Predictions For The Future Of Crypto & Blockchain
The new week started off on a reasonably positive note, especially for the India crypto sector when the Indian Finance Minister in an interview said that crypto assets are created with ‘very useful financial technologies’. While this may seem to be a simple statement – but coming from one of the countries that is home to the largest number of crypto, Web3 and blockchain developers in the world!
India’s 🇮🇳 Finance Minister says crypto assets are created with "very useful financial technologies" pic.twitter.com/Ct77YPFa0W
— Crypto Money Mantra 💰 (@CryptoMoneyMntr) February 6, 2023
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