This is the 16th episode of the Crypto Market update with Mark Magliocco, co-founder of SwapAcross (formerly known as X528 DAO) and Allen Wazny, host of the Calgary Business Podcast and Partner/CFO of Purpose Driven Travel in Calgary.
All discussions in this episode are for informational purposes only and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services
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Yahoo Finance and Bitcoin trading charts.
As is customary, Mark opened the discussion by sharing his knowledge and understanding of reading the technical charts around the price of Bitcoin | https://finance.yahoo.com/chart/BTC-USD
We also highlighted the price of Bitcoin on 30 December between 2017 and 2023 courtesy of the team at CoinMarketCap:
30 December 2023: US $42,250
30 December 2022: US $16,547
30 December 2021: US $46,306
30 December 2020: US $29,002
30 December 2019: US $7,194
30 December 2018: US $3,743
30 December 2017: US $14,156
To track all historical prices of BTC and other crypto currencies, click on the link to the CoinMarketCap website: https://coinmarketcap.com
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2023 Year in Crypto
Mark referenced the 25 December 2023 article published by The Block titled “From SBF to Taylor Swift, BlackRock, CZ and Binance: The top crypto stories of 2023” with some notable takeaways:
USDC Stablecoin
The key issue related to the failure of Silicon Valley Bank and the exposure that the fintech giant, Circle, had to the bank resulting in massive sell-off of its stablecoin, USDC and a 15% drop in the coin’s market cap within a 24-hour period.
Taylor Swift and FTX
Unlike notable football hall of famer, Tom Brady, and NBA great, Shaquille O’Neal, Taylor Swift did not sign on to promote FTX. It seems that Swift-enomics kicked in and some due diligence was performed prior to the decision, unlike other celebrity influence
BlackRock and Bitcoin ETF
In June of 2023, BlackRock filed a registration with the SEC for its spot bitcoin ETF, known as the iShares Bitcoin Trust. Other notable investment firms, including Franklin Templeton, VanEck and Fidelity, are reportedly also seeking approval for a spot bitcoin ETF
Binance and Changpeng Zhao (“CZ”)
Binance and the US Department of Justice settled for $4.3 billion after the DOJ commenced a criminal investigation alleging money laundering and sanctions violations. As part of the plea deal, CZ agreed to step down as CEO of Binance and pay a $50 million fine after pleading guilty to violations of the Bank Secrecy Act.
Link to The Block article: https://www.theblock.co/post/265652/sbf-taylor-swift-blackrock-cz-binance-top-crypto-stories-2023
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Celsius bankruptcy
Celsius actually declared bankruptcy in July 2022 but continued to form part of the 2023 crypto narrative alongside other notable bankruptcies such as Three Arrows Capital and Genesis (founded by Barry Silbert).
We discussed the back story to Celsius and the founder of Celsius, Alex Mashinsky and a spring 2018 conference with Alex on stage with anti-crypto influencer, Nouriel Roubini (or “Dr. Doom” ) and Bill Barhydt (founder of Abra Global). Alex rebutted Nouriel’s claims of "99% of crypto land is one shitcoin traded for another shitcoin…"
Link to Yahoo Finance article of October 2018 titled “Ethereum Founder Vitalik Buterin Throws Shade at Bitcoin Bashing Economist” | http://tiny.cc/t7qnvz
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We invite listeners to join the SwapAcross Discord channel (formerly X528 DAO): https://discord.gg/fhsekcgJVT
Visit the SwapAcross website (formerly X528DAO) to learn more: https://www.x528.io
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#DecentralizedFinance #Decentralized #Autonomous #Organizations #DigitalAssets #CryptoAssets #Blockchain #TokenEconomy #DigitalBusiness #Bitcoin #Ethereum #AltCoins
Olympia ATM with Jim Wilson and Cam McIntosh (CBP 361) | 30 August 2022
Crypto Market Update #4 by Mark Magliocco as at 28 August 2022 (CBP 360) | 28 August 2022
Crypto Definitions: Part 1 | Crypto Coach Episode 4 with Debbie Mamuzo and Mark Magliocco of Crypto528 DAO (CBP 359) | 27 August 2022
Crypto528 Market Update #3 by Mark Magliocco as at 21 August 2022 (CBP 358) | 21 August 2022
Backers Network Inc: An Introduction by Justin Fox (CBP 357) | 18 August 2022
Biggest Mistake Using LinkedIn | Episode 6 of “Errol's Eye on” (CBP 356) | 18 August 2022
Included by Design with CEO and founder, Sean Crump (CBP 355) | 16 August 2022
DriverSeat Ottawa with franchise owner, Nasir Awan (CBP 354) | 16 August 2022
Fixing Fractures: Restoring Shattered Relations in Business and In Life, by Doug Bouey (CBP 353) | 15 August 2022
Crypto528 Market Update by Mark Magliocco as at 14 August 2022 (CBP 352) | 14 August 2022
Learning Crypto from A to Z, Crypto Coach Episode 3 with Debbie Mamuzo of Crypto528 DAO (CBP 351) | 8 August 2022
Crypto528 Market Update by Mark Magliocco as at 7 August 2022 (CBP 350) | 7 August 2022
Emotions: Friend or Foe? | Episode 2 of “All Psyched Up About” with Daniel McMillan (episode 349) | 3 August 2022
Online Reputation | Episode 5 of “Errol’s Eye On” with Errol Vas | 3 August 2022 (CBP episode 348)
Sean Crump, Head Chair and CEO of Included By Design (CBP 347) | 28 July 2022
Crypto Research for Beginners | Episode 2 of “Crypto Coach“ with Debbie Mamuzo of Crypto528 DAO (CBP 346) | 27 July 2022
Talent Management | Episode 2 of “Judith’s Journals On” with Judith Virag (CBP episode 345) | 21 July 2022
Importance of KYC | Episode 1 of “Crypto Coach“ with Debbie Mamuzo of Crypto528 DAO (CBP 344) | 18 July 2022
Cognitive Offloading | Episode 4 of “Errol’s Eye On” with Errol Vas | 12 July 2022 (CBP episode 343)
Customer Reviews | Episode 1 of “Judith’s Journals On” with Judith Virag (CBP episode 342) | 8 July 2022
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