Happy New Year, dear reader!
As most of the crypto industry was in sleep mode during the Christmas holiday, Microstrategy stacked more bitcoin. ETFs are once again in the spotlight as Russia’s largest bank introduces the first blockchain-focused ETF in the country and ProShares files for a metaverse ETF. The political risk of crypto mining continues to manifest itself, as Iran bans the activity until March to save power. Things look brighter for the American mining companies, as Marathon made the biggest mining machine order in history worth $900m. A couple of weeks ago, Dubai announced an initiative to become the crypto hub of the Middle East, and this week Abu Dhabi ramps up efforts to compete with their neighbor in attracting crypto capital. A Polygon bug put $24b in tokens at risk until the bug was discovered, highlighting the smart contract risks of DeFi.
New Year reading
New Year watching
New Year listening
The Pomp Podcast: Bitcoiner buys a UK football club w/ Peter McCormack