| | | Good afternoon. Would love for you try out our new project, One Page Crypto, if you haven’t already. It’s a simple, curated, crypto news aggregator from all reputable sources, updated in real-time. Let us know your thoughts! | Today’s Big Stories:
⚒️ MARA expands again
🟣 Solana wins Comeback Player of the Year
🏦 Big Bucks vs. Big Guns | Today’s free newsletter is brought to you by Autonomix – Breakthrough nerve-sensing technology that is preparing to list on the Nasdaq. | Today's newsletter is 672 words, a 2.5-minute read. |
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Marathon Digital (MARA) Expands Again | North America’s largest crypto miner, Marathon Digital (MARA), has acquired two fully operational Bitcoin mining sites from Generate Capital for $178.6 million. | | Why it matters: The acquisition comes as miners are aggressively increasing their operational capacity as we get ever closer to the looming bitcoin halving in April. | The bottom line: Marathon’s stock price is up more than 40% over the past five days bringing the company’s YTD return to more than 580%. |
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Campaigning for Crypto: Big Bucks vs. Big Guns |
2024 is shaping up to be the biggest crypto election season yet, with both sides flexing their muscles as of late. |
In recent news: Fairshake, a pro-crypto political action committee (PAC), announced that it raised a total of $78 million from its backers to support crypto and blockchain-friendly candidates in the 2024 U.S. presidential election. Supporters include Coinbase and its founder Brain Armstrong, Circle, Ripple, a16z, Kraken, Gemini founders Cameron and Tyler Winklevoss, and Cathie Wood's Ark Invest. |
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On the counter: Senator Elizabeth Warren, who at one point this year embraced the idea of building an “anti-crypto army,” sent letters to pro-crypto lobbying groups (and Coinbase) with accusations of undermining Congress' attempts to crack down on illicit crypto use and cozying up to ex-law enforcement officials in a "revolving door" scandal. |
Her recent letter to industry groups like the Blockchain Association is a shot across the bow. |
"I write regarding a troubling new report that your association and other crypto interests are … working to undermine bipartisan efforts in Congress and the Biden Administration to address the role of cryptocurrency in financing Hamas and other terrorist organizations" | | | | Senator Elizabeth Warren in her letter to Blockchain Association’s Kristin Smith |
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Catching you up: Last week, Warren’s bill on anti-money laundering in crypto found support in Congress and gained momentum with new sponsors, with the crypto industry both fearing it could be a significant threat to their businesses and at the same time arguing it's unlikely to ever pass.
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Crypto clap back: As one can expect, crypto advocates – heck, even Twitter Community Notes – are calling out Warren in bunches, claiming her accusations are baseless, hypocritical, and/or used as fear-mongering. |
Bottom Line: Crypto will be a big hot-button issue in the 2024 elections, with Big Money and Big Tech squaring off against regulatory hawks like Warren and fretting bank associations. Expect more campaign cash, policy proposals, and fiery rhetoric in the months ahead. |
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The Current Bell of the Ball: Solana |
While the market collapse for BTC and ETH was rough for investors as they watched the assets decline by 70% and 80% respectively, it was particularly rough for Solana (SOL) holders watching the token fall 97%+. |
All but left for dead, it looked like the purported “Ethereum killer” was anything but. |
Fast forward to today and slowly, then all at once, SOL has become the best performing top-20 cryptocurrency of 2023. |
And it’s not just price. Solana metrics across the board are breaking out: |
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While naysayers will point out that much of this growth is due to meme coins like BONK and airdrops like JTO, the truth is more complex. Developers in large continue to flock to Solana, as do projects such as Helium and Render. |
The asset just passed XRP to become the 5th largest cryptoasset by market cap and is closing in on BNB at #4. It looks like SOL has finally shaken off it’s SBF association. |
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| | | Dec 15, 2023 | | |  | | | 604 Likes 117 Retweets 186 Replies |
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