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The Bitcoin Minimalist Week 18 - Binance Solvency, Japan Mining, FTX Updates

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The Bitcoin Minimalist Week 18 - Binance Solvency, Japan Mining, FTX Updates

MitchKlee_
Dec 15, 2022
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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.

Twitter avatar for @DylanLeClair_
Dylan LeClair 🟠 @DylanLeClair_
Largest 24h flow of $BTC out of Binance ever: -39,637 BTC
Image
4:38 PM ∙ Dec 13, 2022
4,307Likes643Retweets

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.

Twitter avatar for @Breez_Tech
Breez @Breez_Tech
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)> bitcoinmagazine.com/business/breez…
bitcoinmagazine.comBreez Raises $4.5 Million In Fundraising RoundThe funding will help accelerate Breez’s mission of using Lightning to empower developers and users to realize new use cases for Bitcoin.
1:02 PM ∙ Dec 13, 2022
1,106Likes232Retweets

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.

Bitbo.io

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.

Image

Tweets

Satoshi Disappeared 12 Years Ago

Twitter avatar for @DocumentingBTC
Documenting Bitcoin 📄 @DocumentingBTC
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!
Image
11:53 PM ∙ Dec 13, 2022
597Likes177Retweets

Bitcoin Hash Rate by Year

Twitter avatar for @2140data
Ant ⏳️⛓️ @2140data
#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)
3:47 PM ∙ Dec 12, 2022
66Likes18Retweets

SEC Chair is Ready to Take Action on Securities

Twitter avatar for @BitcoinMagazine
Bitcoin Magazine @BitcoinMagazine
JUST IN - SEC Chair: We Are ‘Ready to Take Action’ Against Other Crypto Companies Violating U.S. Securities Laws
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12:31 PM ∙ Dec 13, 2022
4,136Likes758Retweets

Elizabeth Warren Introduces Bill

Twitter avatar for @BikesandBitcoin
Rob W. @BikesandBitcoin
#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.
Image
3:55 PM ∙ Dec 14, 2022
86Likes22Retweets

Jobs

We have recently launched Bitcoinjobs.com! Looking for a job in the Bitcoin space? Visit Bitcoinjobs.com for more job openings.

What To Read

Saying Hello to Bitcoin

- Pierre Rochard

Mises: The Original Toxic Maximalist

- Michael Goldstein


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The Bitcoin Minimalist Week 18 - Binance Solvency, Japan Mining, FTX Updates

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