Gensler's Crypto Advice As ETF Decision Looms

January 08, 2024

🚩 SEC's Gensler Cautions on Crypto

Gensler's Warning on Crypto: SEC Chair Gary Gensler warns about the high risks of crypto investments, emphasizing their volatility and past platform insolvencies.

ETF Approval Awaited: The crypto industry awaits SEC's decision on proposed spot bitcoin ETFs, with major firms like ARK Investment having filed applications.

Consistent Cautious Stance: Gensler maintains his cautious approach to cryptocurrencies, not indicating a stance on the pending ETF approvals. Read More.

️ On today's Top Picks:

📝 Bitcoin ETF issuers submit S-1 final amendments.
💸 Satoshi Nakamoto receives ~$1.2M in Bitcoin.
🪂 Manta airdrop for Celestia stakers.
🔓 Aptos $APT token unlock worth ~$224.6M.

Read time: ⏰ 3-9 minutes

Crypto News

• ⭐️ Bitcoin ETF issuers submit S-1 final amendments amid upcoming SEC decision.

• ⭐️ Satoshi Nakamoto receives ~$1.2M in Bitcoin from unknown user.

• Bitcoin produces no blocks for two hours due to mining difficulty & total hash rate variation.

• VanEck donates $10K & pledges to donate 5% of Bitcoin ETF profits to Bitcoin Core devs.

• CleanSpark purchases 160,000 Bitmain S21 miners for $193.2M.

• Coinbase to purchase a company holding a Mifid II license to offer crypto derivatives in the EU.

• Mercari, a Japanese e-commerce company plans to accept Bitcoin payments by June.

Alpha

• Manta New Paradigm deposits end January 16th.

• Burnt launches Blaze Syndicate Community Program.

• Parallel Network First Contact quest is live on Galxe.

Airdrops

• ⭐️ Manta likely to airdrop $MANTA to Celestia $TIA stakers.

• Aevo posts, "🔜," on X hinting at potential snapshot or airdrop.

• Ambient airdrop strategy by CryptoSnooper.

• RedStone airdrop strategy by CryptoSnooper.

• MilkyWay airdrop strategy by CryptoSnooper.

Finance News

• Ark Invest sells another ~$21M worth of Coinbase $COIN shares.

• Blackrock $BLK to reduce global workforce by 3% as part of routine internal adjustments.

• Boeing $BA stock dips ~8% in premarket trading amid temporary grounding of Boeing 737 Max 9 aircraft.

• Apple $AAPL iPhone sales drop 30% in China during first week of 2024.

• Evergrande NEV shares plunge ~23% after executive director is detained.

• Ziraat Bank secures $500M financing from Eximbank of China.

Security and Exploits

• MangoFarm SOL rug pulls after it promises airdrop.

• CoinsPaid exploited for $7.5M due to security breach.

• H3idi releases checker for malicious permit approvals.

• SlowMist issues security alert regarding fake journalist phishing scam.

Token Unlocks

• Moonbeam / 3.04M $GLMR / ~$1.2M / JAN 10
⭐️ • Aptos / 24.84M $APT / ~$224.6M / JAN 11
• CyberConnect / 1.26M $CYBER / ~$9M / JAN 14

Funding

• Saros, defi super-network built on Solana; raises $3.75M in private funding.

• CharacterX, a web3 AI character network; raises $2.8M in Seed funding.

The Degen Farmer

Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!

PROTOCOL	ASSETS	APY
Solv Funds (Arbitrum)	USDT	108.79%
Beefy (Ethereum)	MKUSDUSDC	53.70%
Vela Exchange (Arbitrum)	USDC	40.87%
Pendle (Arbitrum)	GDAI	38.95%
Abracadabra (Arbitrum)	MIMUSDCUSDT	31.08%
Aura (Ethereum)	DOLAUSDC	30.10%
Merkl (Arbitrum)	USDCDAI	28.44%
PancakeSwap AMM V3 (BSC)	USDTFDUSD	28.16%