UNCHAINED: 2023 Crypto Year in Review: Is a Bull Market Around the Corner?

2023 was another packed year for crypto, with some big winners, and regulatory news taking the main spot. 

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In 2023, the crypto industry began with post-FTX fallout such as Operation Chokepoint 2.0, the failures of banks serving the crypto industry, and the SEC’s Wells Notice against Coinbase.

Meanwhile, Bitcoin Ordinals brought innovation to the Bitcoin network, while Ethereum’s Shanghai upgrade introduced new functionalities. 

The criminal trial of Sam Bankman-Fried was the dramatic climax of the year, as lawmakers’ concerns about crypto being used for terrorist financing brought crypto into the mainstream conversation. The year ended with Binance’s substantial settlement with the U.S. government and spot Bitcoin ETFs in the horizon, ushering in what looks like the beginnings of another bull market. 

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DCG

Unchained: Gemini vs. DCG Is Heating Up. Could Gemini Force Genesis Into Bankruptcy?

Reuters: Crypto lending unit of Genesis files for U.S. bankruptcy

CELSIUS

Unchained: 

7 Revelations From Celsius’ Examiner Report

Why the Celsius Examiner Report Shows ‘a Complete Disaster in Almost Every Way’

Operation Chokepoint 2.0

WSJ: Regulator Orders Crypto Firm Paxos to Stop Issuing Binance Stablecoin

The Verge: Kraken pays a $30 million fine and shuts down crypto staking in the US

Unchained: 

Coinbase’s Top Lawyer Calls SEC Wells Notice a ‘Massive Overreach’

Just a Coincidence? Coinbase and Polygon Lawyers See Bad Omens in SEC Crackdown

Bitcoin Ordinals

Unchained: 

Bitcoin Ordinal NFTs Are Hot and Getting Hotter. What’s the Hype About?

Bitcoin’s Daily Transaction Fees Surpass Ethereum’s for First Time Since 2020

Signature, Silvergate, SVB, Bank Failures and USDC Depeg

Investopedia: What Happened to Silicon Valley Bank?

CNBC: Stablecoin USDC breaks dollar peg after firm reveals it has $3.3 billion in SVB exposure

Unchained: 

The Chopping Block: Was Crypto Just Debanked?

Why Caitlin Long and Meltem Demirors Are Worried About Crypto’s Future in the US – Cryptocurrency

SEC Issues Coinbase a Wells Notice

Rep. Emmer on Why He Believes Gary Gensler Is a ‘Bad-Faith Regulator’

Reuters: Signature Bank failure due to ‘poor management,’ US FDIC report says

The Verge: Silvergate has collapsed

Ethereum’s Shanghai upgrade

Unchained: 

Shapella in the Rearview: After Major Upgrade, What’s Next for Ethereum? 

Staked Ethereum Withdrawals Enabled As Shanghai Upgrade Goes Live

CoinDesk: What’s Next After the Ethereum Shanghai Upgrade Known as Shapella

Prometheum

Unchained: 

Prometheum and Paradigm in Debate: Can the Status Quo Work for Crypto

These 2 Crypto Trading Platforms Agree With SEC Chair Gary Gensler

Crypto Community Unearths Questionable History of SEC-Aligned Prometheum – Cryptocurrency Regulation

SEC vs. Binance and Coinbase

Unchained: 

SEC Files 13 Charges Against Binance Including the Mishandling of Funds, Sale of Unregistered Securities

SEC Sues Coinbase for Breaking Securities Laws

SEC Sues Binance, Coinbase: ‘This Is Not the End of Crypto in the United States’

Ripple

Unchained: 

New Order in SEC vs. Ripple Over XRP Is a Win for Crypto: What Happens Now?

The Chopping Block: Jake Chervinsky on How the SEC Has Lost Credibility

CoinDesk: Ripple, Crypto Industry Score Partial Win in SEC Court Fight Over XRP

Bitcoin ETFs

Unchained: 

Grayscale Wins Lawsuit Against SEC Over Denial of Bid to Convert GBTC Into a Bitcoin ETF

Does Grayscale’s Win Against the SEC Mean a Spot Bitcoin ETF Will Be Approved?

Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10

How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection

Why Financial Advisors Are So Excited About a Spot Bitcoin ETF

Market Forecaster Raoul Pal Says There’s a Good Chance Bitcoin Will Hit $100K-$200K in 2024

Why Swan CEO Cory Klippsten Is Still Convinced That Bitcoin Is Headed to $1 Million

SBF Trial

Unchained: 

How Heated Sidebars During the SBF Trial Could Impact the Jury’s Decision

While Wang Reveals Alameda’s Special Privileges

Sam Bankman-Fried Trial: Here’s Everything That Happened So Far

Did Sam Bankman-Fried Have Intent to Defraud FTX Investors?

A 20+ Year Sentence? Why the Evidence Against SBF Was Too Hard to Overcome

Terrorism in crypto

Unchained: How Much Money Are Terrorists Actually Raising in Crypto?

WSJ: Hamas Militants Behind Israel Attack Raised Millions in Crypto

Binance settlement 

Unchained: 

How Binance Will Open All Its Activity to the U.S. Government 

Binance to Pay $4.3B Penalty to Resolve U.S. DOJ Criminal Investigation; Changpeng Zhao Resigns, Pleads Guilty to Money Laundering Charges

WSJ: Binance Penalties Include a Number of Crypto Industry Firsts: The Treasury Department’s FinCEN is imposing its first-ever monitorship on the cryptocurrency exchange

Points systems

Unchained: Crypto Points Systems Are a 100x Opportunity, But Founders, Be Wary 

Li’s Newsletter: Lessons on Points Programs for Crypto Apps

Unchained Podcast is Produced by Laura Shin Media, LLC.  Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz. 

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