Unchained 2023 Crypto Year in Review: Is a Bull Market Around the Corner?- Ep. 586
Dec 26, 2023
2023 was a tumultuous year for crypto, highlighted by the dramatic trial of Sam Bankman-Fried and regulatory scrutiny from the SEC. Bitcoin Ordinals and Ethereum's Shanghai upgrade showcased innovation amidst the chaos. A looming bull market emerges with the potential approval of spot Bitcoin ETFs. The podcast discusses the troubling mismanagement unveiled in the Celsius bankruptcy and the impact of new regulations on the industry. The growing trend of point systems in crypto applications also garners attention, promising to shape user engagement.
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Crypto Winter and Hints of a Bull Market
- The crypto industry experienced a brutal winter in 2023, marked by low prices and activity.
- Despite this, the year ended with positive signs, hinting at a potential bull market in 2024.
Gemini vs. DCG
- Cameron Winklevoss accused Barry Silbert of bad faith tactics regarding a $900 million debt owed to Gemini users.
- Silbert denied the allegations, claiming DCG hadn't defaulted and had proposed a resolution.
Celsius Mismanagement
- The Celsius examiner report revealed mismanagement, including Mashinsky's $68.7 million gains from selling CEL tokens.
- Celsius used customer funds to manipulate the CEL token price and prop up its balance sheet.