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In 2023, the crypto industry began with post-FTX fallout such as Operation Chokepoint 2.0, the failures of banks serving the crypto industry and the SEC’s Wells Notice against Coinbase.

Meanwhile, Bitcoin Ordinals brought innovation to the Bitcoin network, while Ethereum’s Shanghai upgrade introduced new functionalities.

The criminal trial of Sam Bankman-Fried was the dramatic climax of the year, as lawmakers’ concerns about crypto being used for terrorist financing brought crypto into the mainstream conversation. The year ended with Binance’s substantial settlement with the U.S. government and spot Bitcoin ETFs in the horizon, ushering in what looks like the beginnings of another bull market.

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Episode Transcript



Unchained: Gemini vs. DCG Is Heating Up. Could Gemini Force Genesis Into Bankruptcy?

Reuters: Crypto lending unit of Genesis files for U.S. bankruptcy



Operation Chokepoint 2.0

WSJ: Regulator Orders Crypto Firm Paxos to Stop Issuing Binance Stablecoin

The Verge: Kraken pays a $30 million fine and shuts down crypto staking in the US


Bitcoin Ordinals


Signature, Silvergate, SVB, USDC depeg

Investopedia: What Happened to Silicon Valley Bank?

CNBC: Stablecoin USDC breaks dollar peg after firm reveals it has $3.3 billion in SVB exposure


Reuters: Signature Bank failure due to ‘poor management,’ US FDIC report says

The Verge: Silvergate has collapsed

Ethereum’s Shanghai upgrade


CoinDesk: What’s Next After the Ethereum Shanghai Upgrade Known as Shapella



SEC vs. Binance and Coinbase




CoinDesk: Ripple, Crypto Industry Score Partial Win in SEC Court Fight Over XRP

Bitcoin ETFs


SBF Trial


Terrorism in crypto

Unchained: How Much Money Are Terrorists Actually Raising in Crypto?

WSJ: Hamas Militants Behind Israel Attack Raised Millions in Crypto

Binance settlement


WSJ: Binance Penalties Include a Number of Crypto Industry Firsts: The Treasury Department’s FinCEN is imposing its first-ever monitorship on the cryptocurrency exchange

Points systems

Unchained: Crypto Points Systems Are a 100x Opportunity, But Founders, Be Wary 

Li’s Newsletter: Lessons on Points Programs for Crypto Apps