Bankless ROLLUP: Genesis Bankrupt | SEC vs Gemini | Bitzlato | New 3AC Exchange GTX | MetaMask Staking | ETH Denver
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Jan 20, 2023 The hosts dive into the SEC's showdown with Gemini and Genesis, delivering insights with humor. Bankruptcy fears swirl around Genesis, sparking discussions on crypto tax management. They explore intriguing market trends, including Ethereum's resilience and Bitcoin's price movements. Innovations like the GTX exchange for distressed asset trading and the rise of Ethereum validators highlight crypto's adaptability. Plus, a playful look at gamified sleep incentives and a call to the crypto community for engagement wrap up this lively chat!
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Contrasting Monetary Policies
- The U.S. national debt reached a record high of $31.4 trillion, highlighting increasing money supply.
- In contrast, ETH is deflationary, burning ETH and showcasing contrasting monetary policies.
Ethereum's Deflationary Q4
- Ethereum's Q4 2022 saw a 94% drop in network revenue and ETH burned due to decreased demand.
- Despite this, ETH became deflationary due to the Merge, demonstrating a successful transition.
FTX's Solana Holdings
- FTX holds 11% of Solana's total tokens, a significant portion of the market cap.
- This raises concerns about potential negative price impact if FTX liquidates their holdings during bankruptcy proceedings.