🐝 Bitcoin Soars & Twitter's New Dog Icon 🐶
Explore Bitcoin's Splash, Crypto Banking and OKX's $157M Asset Return.
Greetings, Tuesday crew! Your Web3 Buzz awaits:
Bitcoin’s making a Splash
Crypto’s Banking Rollercoaster
OKX returns $157M digital assets
Twitter’s New Dog Icon 🐶
We've hit 14,000 members with 6,500 new subscribers! Let's explore the latest Web3 updates together!
📈 BITCOIN'S MAKING A SPLASH
Hold up, Bitcoin's crushing it with its best quarter in 2 years. You heard that right...
Bitcoin soared from $17K → $28K, scoring a 70% surge in Q1. It hasn't flexed this hard since Q1 2021 (+103%).
What's behind the magic? Check it out:
Unsteady banks have folks realising the importance of crypto, especially BTC.
The Feds pumped $300B to rescue banks in trouble after SVB's downfall. More balance sheet love for risk assets like crypto!
BTC is the crypto safe zone. The government's hunting every crypto firm, but the SEC doesn't label Bitcoin as a security.
Tether printed $5B of its USDT stablecoin in mid-March. Major Tether issuances and Bitcoin gains? They're buddies.
And the crypto network's experiencing a "capital-m" Moment. Ordinals took NFTs from Ethereum to the Bitcoin blockchain in a Jay-Z/Linkin Park-level collab.
Bitcoin's network is branching out beyond just money. Ordinals even launched an OpenSea-like marketplace, all thanks to Magic Eden.
As for miners? They've bounced back after a rough 2022. Mining machines were MIA last year...
Nature's finding its balance again.
So, how do YOU feel about crypto's Q1 performance?
A) Extreme fear - "Mom, I'm terrified!"
B) Fear - Nightlight's my sidekick during these times
C) Neutral - Call me the Crypto Switzerland
D) Greed - Fear? Nope! Holding & buying more crypto
E) Extreme greed - I dine on fear. Let's do this!
Hit reply with your response, and 2 lucky participants could win $100!
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🎢 CRYPTO'S BANKING ROLLERCOASTER
This year started strong. Bitcoin was soaring, big banks like JPMorgan Chase and Bank of New York Mellon were eyeing crypto, but then regional-lender collapses and regulatory pressure kicked in...
Now, US banks are getting cold feet:
They're imposing long application procedures, giving small companies and retail platforms the boot.
In some cases, they're shutting out crypto businesses completely.
They're worried about deposit concentration and liquidity risks if they take on too many crypto clients.
Sure, the big banks are still open to crypto, but it takes up to six months to get on board.
And with Silvergate and Signature banks collapsing, crypto platforms and investors are finding it tough to transfer traditional currencies.
However, there's still hope:
Cross River Bank and Customers Bank offer 24-hour on and off-ramps for fiat-crypto exchanges.
Crypto firms registered with FinCEN and holding state money-transmitter licenses might have an easier time finding banks to work with.
But don't expect clear answers from the banks, as they're often vague about why they're turning down crypto clients.
Curious about the full story? Check out the article here.
📅 TUESDAY'S WEB3 JOB SPREE
Welcome to another round of Web3 Tuesday, where we showcase companies crafting awesome stuff and looking for new talent.
These jobs will have your parents raising their eyebrows (in a good way) and feeling impressed, even if they're still puzzled about wtf you actually do...
🎯 Product Manager at Gelato Network. Remote - Europe
💼 Business Development Manager at Cere Network. Remote - Europe
🎨 Senior Product Designer at WalletConnect. Remote
📊 Data Analyst at ConsenSys. Remote
🎨 Senior Product Designer at Uniswap Labs. New York or Remote
🛠️ Senior Software Engineer - Blockchain Services at Chainlink Labs. Remote
P.S., - Are you trying to hire in Web3? Learn how to get your open jobs in front of 15k+ potential candidates here.
📰 Roll Call: Weekly Dose of News
Check it out: Twitter’s New Dog Icon is Sending Dogecoin — To the Moon
Check it out: How a User Drained Five MEV Bots for $20m
Check it out: What the Ethereum Shanghai Upgrade Means for You, ETH, and the SEC
Check it out: Euler Exploiter Says ‘Sorry,’ Returns Stolen $177M
Check it out : MicroStrategy Buys $150 Million of Bitcoin, Prepays Silvergate Loan
Check it out: Do Kwon Now Faces Criminal Fraud Charges From U.S. Prosecutors
Check it out: OKX finds $157M digital assets of bankrupt FTX and Alameda, to be handed over to their estate.
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.