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- The Bitcoin Minimalist Week 18 - Binance Solvency, Japan Mining, FTX Updates
The Bitcoin Minimalist Week 18 - Binance Solvency, Japan Mining, FTX Updates
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News
Binance Bank Run
Over the past week, Binance has seen many withdrawals, pointing to concerns about insolvency. The CEO has stated he welcomes people's withdrawals while Justin Sun postures, saying, “I just deposited 100 million USD”. Meanwhile, Jim Cramer also posts his confidence in Binance, sparking more concern.
Largest 24h flow of $BTC out of Binance ever:
-39,637 BTC
— Dylan LeClair 🟠 (@DylanLeClair_)
Dec 13, 2022
Japan’s Largest Power Company Starts Mining
Tokyo Electric Power Company (TEPCO) is starting to mine Bitcoin with 1.5MW as a testing facility. The testing facility is near its office in Tokyo, downtown on campus. Namcios covers more here.
SBF FTX Updates
Business Insider never released video of Jack Mallers
Members of FTX inner circle had a signal group chat called “wire fraud.”
Sam Bankman-Fried was arrested in the Bahamas days before trial to testify
FTX funded The Block CEO to become the majority shareholder
Breez Raises Capital
A self-custodial lightning company called Breez just raised 4.5M “to accelerate “Lightning-as-a-Service” (LaaS). They posted a breakdown thread here.
Today, we're thrilled to share that we just raised $4.5M round to accelerate Lightning as a Service (LaaS). Laas is our visionary new approach to bringing virtually instantaneous and frictionless #bitcoin payments to the global mainstream 🔥⚡
🧵(1/6)>— Breez ⚡ (@Breez_Tech)
Dec 13, 2022
Price
Even with concerns of more exchange insolvency, Bitcoin’s price rose this week from $17,650 to over $18,000. Yesterday the CPI print came out at 7.1%, numbers not seen since earlier this year when the CPI began its climb. This might also be a factor in bitcoin’s rise.
Halving progress has hit 65%, historically showing the bottom of the bear market. This may not be the last time Bitcoin sees $18k, but it could mean the beginning of the end of the 2022 bear cycle.
Tweets
Satoshi Disappeared 12 Years Ago
Satoshi Nakamoto's last post, 12 years ago today.
The creator of #bitcoin soon disappeared, and the network kept growing. No person, no corporation, and no government was in control. The decentralized network was born! A historic moment for #bitcoin and humanity!
— Documenting ₿itcoin 📄 (@DocumentingBTC)
Dec 13, 2022
Bitcoin Hash Rate by Year
#Bitcoin Hash Rate (5 January)
2009: 948 KH/s
2010: 10 MH/s
2011: 125 GH/s
2012: 9 TH/s
2013: 22 TH/s
2014: 14 PH/s
2015: 304 PH/s
2016: 825 PH/s
2017: 2 EH/s
2018: 16 EH/s
2019: 42 EH/s
2020: 107 EH/s
2021: 151 EH/s
2022: 174 EH/s
2023: ??? (257 EH/s today)— Ant (@2140data)
Dec 12, 2022
SEC Chair is Ready to Take Action on Securities
JUST IN - SEC Chair: We Are ‘Ready to Take Action’ Against Other Crypto Companies Violating U.S. Securities Laws
— Bitcoin Magazine (@BitcoinMagazine)
Dec 13, 2022
Elizabeth Warren Introduces Bill
#Bitcoin Miners and Nodes to now become "money service businesses."
@SenWarren, wants you to live in a financial panopticon.
Time to find out of the so called #Bitcoin Progressives have any teeth.
— Rob W. (@BikesandBitcoin)
Dec 14, 2022
Jobs
We have recently launched Bitcoinjobs.com! Looking for a job in the Bitcoin space? Visit Bitcoinjobs.com for more job openings.
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