🦎🚀 Bitcoin 1, Greenpeace 0 🌍

Monday, March 27, 2023

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Silicon Valley Bank Gets Scooped

First Citizens Bank will take on the deposits and loans of the failed Silicon Valley Bank, the U.S. Federal Deposit Insurance Corporation (FDIC) said on Monday. The deal includes the purchase of $72 billion in SVB assets for a discount of $16.5 billion. Additionally, the FDIC will keep another $90 billion in securities and assets to sell on the open market in a process known as "disposition."

In other news, Skull of Satoshi artist backtracks, Canada's 'Crypto King' kidnapped and tortured for ransom, and NFT trader accidentally burns 77 ETH worth of Crypto Punks.

Read on!

SEC Charges Celebs 0.18% of Their Net Worth

With the Justin Sun case last week, the SEC's charges against celebrities are now at $3.8 million – which sounds like a lot, but is only a fraction of their net worth.

These splashy charges have been opportunities for the SEC to strengthen their claim that crypto is a security, as US regulators contend over the future of crypto regulation.

Get the full breakdown: https://gcko.io/4tp6rrt

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Think NFTs are just for Ethereum? Bitcoin NFTs, aka Ordinal NFTs or Bitcoin Ordinals, are making waves 🌊 In today's video, we explore the potential impact of Ordinals on the Bitcoin network.

Tap here to watch!

Not So Simple

Benjamin Von Wong, the Canadian artist who became Crypto Twitter's main character last week after unveiling his "Skull of Satoshi" installation, which was commissioned by Greenpeace, said the work "was never meant to be anti-Bitcoin."

The "Skull of Satoshi" creator said that he genuinely believed that Bitcoin's environmental impact was "a simple black-and-white" issue" when he started work on the art installation, but now understands otherwise.

Decrypt

Wrench Attack

Canada's self-proclaimed "Crypto King" Aiden Pleterski was kidnapped, tortured, and held for ransom after allegedly fleecing investors out of millions, court documents filed earlier this month claim.

Pleterski had told investors he would pool their money together and invest it. But of the $41.5 million he received, Pleterski allegedly invested only $670,000, less than 2% of the total amount, while allegedly spent close to $16 million on his "personal lifestyle," which involved renting private jets, going on elaborate vacations, and purchasing exotic vehicles.

Decrypt

Ouch

An NFT trader was devastated Friday to discover that a CryptoPunk he purchased for 77 ETH, or $129,000, went up in smoke after he accidentally sent the pricy piece of digital art to a burn address.

Brandon Riley, who purchased CryptoPunk #685 two weeks ago, said he made an error when attempting to wrap the NFT to take a loan against it.

Decrypt

Trading pairs enable you to trade one cryptocurrency for another. We look at how trading pairs and stablecoins work together, and how arbitrage opportunities arise from price discrepancies between different exchanges.