Monday April 3, 2023
◾ Bitcoin was the top performing asset class with a 72% return in Q1 outperforming the S&P 500 (7%) and Nasdaq 100 (20.5%). (Bloomberg)
◾ Central bank governors and finance ministers of the Association of Southeast Asian Nations are holding discussion on how to regulate crypto assets. (Reuters)
◾ Bermuda’s Premier says “the future of finance is digital” and remains open to bringing crypto and blockchain technology to his country. (Bloomberg)
Government & NGO Actions
◾ The National Futures Association is imposing new roles requiring its member companies to increase its fraud protection and employee surveillance in bitcoin and ether markets. (Nfa.futures.org)
◾ Japan’s financial watchdog warned Bybit, MEXC Global, Bitforex, and Bitget that the crypto exchanges must register themselves as exchanges to continue operations in the country. (Beincrypto)
◾ The US generated $216 million in proceeds from the sale of 9,800 bitcoin connected to Silk Road. (Docdroid)
Public Company Releases
◾ Ault Alliance (AULT) is buying back up to 333 million common shares through an exchange offer for a new class of preferred stock. (Businesswire)
◾ Ault Alliance (AULT) is delaying release of its 10-k. (Aultglobal)
◾ Digihost (DGHI) reported revenue of mining of $24 million with a loss of $3 million for the year ending December 31, 2022. (Globenewswire)
◾ Sphere 3d (ANY) generated mining and services revenue of $6 million in 2022 with a net loss attributable to common shareholders of $192 million. (Sphere3d)
◾ BTCS (BTCS) reported revenue of $1.6 million with a net loss of $15.8 million in 2022. (Sec.gov)
◾ Greenidge Generation (GREE) reported total revenue of $90 million driven by its data center operations with adjusted EBITDA of $1.1 million in 2022. (Greenidge)
Restructuring, Losses and Legal News
◾ A US district judge says the US has developed “a substantial case on the merits” and irreparable harm in the absence of a stay” in its efforts to block the Binance.US purchase of Voyager Digital. (Courtlistener)
◾ A $1 billion class action lawsuit was filed against Binance and its CEO Changpeng Zhao for promoting unregistered securities. (Fortune)
Protocols, Applications & Business News
◾ The Digital Currency Trader’s Alliance has been formed as a new advocacy group to fight the SEC’s efforts against crypto. (Livebitcoinnews)
◾ UK banks are facing difficulties with multiple roadblocks to offer crypto services to their clients. (Bloomberg)
◾ 3,627 crypto ATMs -- 9.7% of the global installed base -- were taken out of production in April. (Cointelegraph)
◾ Investor Justin Sun has been recalled as Granada’s Ambassador to the World Trade Organization following the ousting of the National Democratic Congress in the latest elections. (Gbn.gd)
◾ Justin Sun is looking to sell shares in Huobi Global. (Bloomberg)
AI Announcements
◾ Italy has banned ChatGPT over privacy concerns. (BBC)
Exchange, Custody and Product Updates
◾ Bittrex is winding down its US operations given the current regulatory and economic environment. (Bittrex)
Thoughts on the Ecosystem
◾ The CEO of News Corp Australia the development of AI could become “a new pot of gold” for technology companies “by taking the creative content of others without remunerating them for their original work.” (Cointelegraph)