Cryptocurrency

This Week on Crypto Twitter: Gemini vs Genesis heats up, US SEC enters the game

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. This past week has mostly been all about the major recovery in Bitcoin that has resulted in the overall market cap also coming inches away from regaining the $1 trillion mark again. However apart from that, FTX crypto exchange collapse has been in the news in the past week too – somehow there are new things coming out every day!

Top Conversation on Crypto Twitter this Week

MONDAY – 9 JANUARY

The week began with major revelation from the tragic case of the failed FTX crypto exchange that collapsed in Early November 2022 and it seems newer things are coming out everyday. In more recent news, US journalist from the Fox Business News unit, Charles Gasparino tweet that prosecutor in the FTX case in the US are now saying that FTX’s Sam Bankman-Fried could potentially be connected to bribery, political campaign contribution violations and market manipulations!

Quite an interesting start to the week.

Read in detail: FTX Crypto Collapse Explained

TUESDAY – 10 JANUARY

The blood between Twitter and crypto runs deep, as they say. The relationship between Twitter, Twitterati, and cryptos have been something of a phenomenon and looks like the company is on the edge of a breakthrough new development. Well, not breakthrough, but a first on the microblogging platform. Have you guessed it yet?

It seems like coins and tokens could be coming to Twitter soon! These coins could be kept in your balance and be used to support creators on the microblogging platform. But before you get too excited – there’s a catch!

WEDNESDAY – 11 JANUARY

El Salvador – the first country in the world to accept Bitcoin as a legal tender, has been on a roll. And now, with mounting debt and losses (what his Bitcoin buying spree over the past year and a half has cost him) – his new Digital Securities Law – which was passed by an overwhelming majority vote of 62 for and 16 against, brings into effect the issuance of Bitcoin Bonds, also called ‘Volcano Bonds’.

Bitcoin-backed bond will primarily be used to pay down sovereign debt, fund the construction of the ‘Bitcoin City’, and also create extensive Bitcoin mining infrastructure. Under the proposal – the bonds would be denominated in US dollars and pay 6.5% annually for 10 years with a five year lock-up period and is being managed by Bitfinex.

This comes despite increasing protest and resistance amongst citizens in the country of El Salvador against this move and the rising debt crisis in the nation.

THURSDAY – 12 JANUARY

Sam Bankman-Fried has a flair for the written word too now, it seems. Currently under house arrest in the United States, facing eight counts of US criminal charges as a result of the FTX meltdown – SBF decided to launch a new Substack newsletter. And boy oh boy, did it make the news!

This was also a day when the US Securities and Exchange Commission (SEC) took to Twitter to announce that it has filed a new set of charges against Gemini crypto exchange (built by the Winklevoss twins – yes those two from the 2010 movie, the Social Network – Tyler and Cameron Winklevoss) and Genesis – alleging that Gemini’s Earn product was an unlicensed security!

 

FRIDAY – 13 JANUARY

Soon after the SEC’s allegations, Tyler Winklevoss took to Twitter to express his disappointment over what he called as a ‘manufactured parking ticket’!

Trolling, crypto and Twitter go pretty much hand in hand. While some trolling can be harmful and shouldn’t be done at all – some harmless fun at the expense of someone with whom you’re loggerheads at – isn’t too bad, right? Well, take a look at this tweet.

Peter Schiff, a prominent economist, author and a huge proponent of investing in Gold and absolutely against the idea of crypto and Bitcoin had taken to Twitter to call out the beginning of Bitcoin’s rally ahead of the weekend which he claimed was a point for Bitcoin HODLers to exit the market. The tweet seems to be unavailable at the moment on Peter Schiff’s feed (something smells fishy here!), and as they say – the internet never forgets.

The very next day – Bitcoin Magazine took to the microblogging platform to post a screenshot of Peter Schiff’s tweet and mentioning how Bitcoin was already up $1000 since the tweet. And we all know how Bitcoin has performed over the weekend – it is currently trading close to $21,000 as of writing!

SUNDAY – 15 JANUARY

In some positive news of the week, CoinDCX’s Kiran Mysore Vivekananda – Chief Public Policy Officer at CoinDCX presented some points on one of the biggest business news channels in India, CNN News18. Have a look at the video below!

Catch the latest crypto news updates daily on CoinDCX blog.

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