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The Bitcoin Minimalist Week 15 - FTX Contagion, Shell, and Blocks in ATX

The Bitcoin Minimalist Week 15 - FTX Contagion, Shell, and Blocks in ATX

November 16, 2022

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News

FTX storm continues

FTX has filed for Chapter 11 bankruptcy. More and more information is being revealed as connections surface. FTX bought out Blockfi shortly after Celsius went under.

This week Blockfi halted withdraws while customers were left guessing. Other news suggests Almeda, a company that appears to have been partnered with FTX, inside traded FTT token, according to sources.

On top of that, Genisis, the lending arm of Gemini, has halted withdrawals from it’s lending platform.

Bitcoin Policy Institute Suggests Proof of Keys

Out of all the FTX noise, Bitcoin Policy Institute and others suggest a ‘proof of keys’ movement, something that has been present within the community for some time but has never been truly implemented.

Blocks Hardware Wallet to Be Built in Austin, Texas

In other news, Block has announced that they are building their hardware wallet in Austin, Texas, one of the most prominent Bitcoin cities in the world.

In the press release, the company noted the considerations include a location with growth potential, operations, and engineering capabilities.

Shell to Sponsor the Bitcoin conference 2023

As the Bitcoin mining industry further expands, large industry energy leaders such as Shell are throwing their hats in the ring. Shell is signaling support through sponsoring the world’s largest Bitcoin Conference, Bitcoin 2023.

Oh it's coming, 100%.
Shell to sponsor @TheBitcoinConf in 2023.
— ₿aseload 🍷 (@Endorsen)
4:03 PM • Nov 14, 2022

Price

After dropping from around $20k, Bitcoin bounced to a bottom of $15.7k and has stayed steady around $16.5k since.

So far, other news of Blockfi and Genisis has not pushed further price dumps. It is hard to say what happens from here, but the Bitcoin protocol itself remains unaffected.

Tweets

Bitcoin Not Crypto

One of the most important things to have clear
#Bitcoin is not Crypto
— Alessandro Ottaviani (@AlexOttaBTC)
7:09 PM • Nov 14, 2022

Attacking Self Custody Is The Opposite Of Individual Freedom

JUST IN - U.S. Congressman: "Anyone attacking self-custody is telling you they oppose individual freedom."
Not your keys, not your #Bitcoin
— Bitcoin Magazine (@BitcoinMagazine)
11:49 AM • Nov 11, 2022

$3.7 Billion Off Exchanges After FTX Crash

JUST IN: $3.7 billion #Bitcoin were taken off exchanges last week - Bloomberg 🙌
— Bitcoin Magazine (@BitcoinMagazine)
7:04 PM • Nov 14, 2022

Bitcoin Mining Certifications Added To Texas State

I am thrilled to announce that students across #Texas can now add #Bitcoin mining certifications to training in data center operations and management at Texas State Technical College (@TSTCstrong).
Bear market or bull market, #Texas is #Bitcoin country.
— Natalie Smolenski (@NSmolenski)
2:36 PM • Nov 14, 2022