קריפּטאָ טימז צו קוקן פֿאַר דעם קומענדיק וואָך

Several stories developed over the last seven days that could have reverberations into next week. Let’s take a look at some of the key themes to keep an eye on.

רעסטאַרץ

Not one but two collapsed crypto institutions revealed plans to come back from the dead this past week.

First up were the founders of failed crypto hedge fund 3AC, Su Zhu and Kyle Davies, פּיטשינג to raise $25 million for a new crypto exchange dubbed “GTX” because “G comes after F,” according to the opening line of a leaked pitch deck.

The pair is partnering with Mark Lamb and Sudhu Arumugum, who founded the crypto exchange Coinflex that’s currently going through a restructuring. Following an inevitable mocking of the GTX name on Crypto Twitter, Coinflex האט the GTX name wouldn’t be used, but it would provide a further update once a possible round or partnership materializes. 

FTX also raised a few eyebrows, with new CEO John Ray ווערטל the collapsed crypto exchange could be restarted. Many users criticized the idea anyone would ever trust depositing funds onto the platform again. Still, Ray was adamant, טעלינג the Wall Street Journal, “If there is a path forward on that, then we will not only explore that, we’ll do it,” sending the essentially worthless FTX-related FTT token up קסנומקס% following the comments.

Genesis is also looking to pull the proverbial rabbit out of the hat, מאָווינג “quickly and efficiently” to exit the bankruptcy process after its crypto lending business פיילד for Chapter 11 bankruptcy protection owing more than $ קסנומקס ביליאָן to its top creditors. First-day proceedings for Genesis’s bankruptcy case will take place on Monday.

ענפאָרסמאַנט קאַמף

נאָך אַ מעלדונג from Cornerstone Research outlined a 50% increase in U.S. Securities and Exchange Commission crypto enforcement actions in 2022, the regulator is showing no signs of slowing down. 

די סעק ס פריש charge against crypto exchange Gemini and crypto lender Genesis over their lending products came just days before the latter’s Chapter 11 bankruptcy protection filing. In doing so, it fired a warning shot to the industry on yield-bearing accounts - something we could see more of given the number of similar services still active across the crypto space. Indeed, news of Nexo’s $ קסנומקס מיליאָן settlement with the regulator followed shortly after, having failed to register the offer and sale of its retail crypto asset lending product.

The SEC isn’t afraid of tackling the decentralized side of crypto either, demonstrated by the לאָודז it brought against Avraham Eisenberg on Friday after the securities regulator said Eisenberg stole $116 million from the DeFi platform Mango Markets.

And the SEC isn’t alone, with the U.S. Department of Justice’s מעלדן of an announcement leading to ספּעקולאַציע Binance may be on the receiving end of some enforcement action. In the end, “B” was for Bitzlato, with the little-known Hong Kong-registered exchange accused of transmitting $700 million in illicit finds. Crypto Twitter אויסגעלאַכט the DOJ given a perceived lack of intervention against more high-profile cases like FTX and Celsius.

אָבער, אנדערע סאַגדזשעסטיד the Bitzlato action could merely be a stepping stone, with the DOJ quietly working on larger crypto enforcement cases.

הייס טעמעס

Optimism outpacing Arbitrum was one of the key narratives picked up on by the crypto community last week, with transaction counts between the Layer 2 rivals diverging dramatically. However, following the end of Optimism Quests (educational tasks and quizzes to earn commemorative NFTs) on Jan. 17, that divergence is retracing. Optimism also still lags behind Arbitrum by the total value of assets on the protocol, holding $ קסנומקס מיליאָן קאַמפּערד צו די $ קסנומקס ביליאָן אויף אַרביטרון.

Unlike Arbitrum, Optimism has already released its native OP token, up more than קסנומקס% in January, with some of Optimism’s ecosystem tokens up over 200% year-to-date. Since launching its V2 derivatives platform on Optimism, Synthetix has also benefited from the ecosystem, with its daily users doubling as the Layer 2 אָוווערטוק Ethereum as Synthetix’s main hub.

Layer 2s are just one area of interest with investors looking for high-beta exposure to the Ethereum ecosystem. Tokens underlying liquid staking derivative (LSD) protocols such as Lido (LDO) and Rocket Pool (RPL) also performed well following a week where they were ינאַגרייטיד into the web3 wallet MetaMask. Stablecoin issuer Frax is another project that continues to benefit since launching its own liquid staking derivative. Its FXS governance token is one of the best-performing assets since the FTX-fueled market collapse. Alongside the OP token, LDO, RPL and FRX are among the biggest גאַינערס from the top 100 crypto assets this year.

That particular narrative will likely continue as we get closer to Ethereum’s proposed Shanghai upgrade in March — aiming to deliver the unstaking feature that has been missing from the blockchain since its transition to a proof-of-stake system that culminated in די מערדזש.

סוף, פּלאַפּלען around bridged BTC on Avalanche also picked up following attractive DeFi yields for the token that saw it surpass the BTC held on Bitcoin’s Lightning Network. It’ll be interesting to see how that trend among the other hot topics continues into the coming week.

אָפּלייקענונג: אָנהייב פון 2021, Michael McCaffrey, דער געוועזענער סעאָ און מערהייט באַזיצער פון The Block, גענומען אַ סעריע פון ​​לאָונז פון גרינדער און געוועזענער FTX און Alameda סעאָ סאַם באַנקמאַן-פריד. McCaffrey האָט רעזיגנירט פון די פירמע אין דעצעמבער 2022 נאָך ניט ויסזאָגן די טראַנזאַקשאַנז.

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