Week 52 | 12/26/22 - 12/31/22
By Matthew BrienenNews Flash
Tuesday 12.27.22: The $4.5 trillion asset management firm Fidelity Investments has filed three new trademark applications covering a host of Web3 products and services, including an NFT marketplace and a crypto trading platform in the metaverse. Filed with the United States Patent and Trademark Office (USPTO) on December 21 under the serial numbers 97727409, 97727473, and 97727439, respectively, the patent applications are primarily associated with non-fungible tokens (NFTs) featuring textual and visual material, while also providing a variety of services linked to virtual worlds.
Wednesday 12.28.22: Gemini Trust Co. and its founders Tyler and Cameron Winklevoss are facing a class-action lawsuit over claims the crypto exchange sold interest-bearing accounts without registering them as securities, per Bloomberg. In a class-action complaint filed in the U.S. District Court for the Southern District of New York on Tuesday, investors accuse the company and its founders of fraud and violations of the Exchange Act.
Thursday 12.29.22: Throughout 2022, the crypto market saw the entry of several major firms. Major car manufacturers were seen scouring the NFT space. However, BMW is now all set to include blockchain technology in its system. The German car manufacturer is planning to employ the BNB chain along with blockchain infrastructure firm Coinweb. BMW intends to use blockchain technology for its everyday operations. In addition to this, the car manufacturer is working on creating a blockchain loyalty program, particularly for its Thailand-based customers.
Friday 12.30.22: The Securities Commission of The Bahamas has confirmed it still holds $3.5 billion worth of FTX’s assets, which it took possession of in early November, soon after the failed crypto exchange filed for bankruptcy. The commission said assets will remain stored in its digital wallets until the Bahamas Supreme Court directs them to distribute these to the defunct exchange's customers and creditors or they receive clarity about how the firm’s insolvency is to be handled.
Live Show Recaps
Tuesday 12.27.22: Brian Decker explains some crucial crypto tax information that you should be aware of. Matthew Brienen reveals Palau's partnership with Ripple to launch a national stablecoin, Fidelity's desire to provide investment advice in the metaverse, and FTX's SBF borrowing $546M from Alameda to purchase Robinhood shares. The team discusses some stock setups.
Wednesday 12.28.22: Matt talks about China reportedly planning to launch the first regulated NFT marketplace next week, Sam Bankman-Fried entering plea in FTX fraud case, and Michael Saylor's MicroStrategy now owns 132,500 Bitcoin. We closed out the show with some technical analysis and a look at realistic bottoming prices for Solana.
Thursday 12.29.22: The team discusses Celsius's attempt to extend the claims deadline for burner users, Binance now allows users to purchase cryptocurrency using Apple Pay and Google Pay, and 95% of people around you have no idea what cryptocurrency is. Matt analyzes the massive drop in Solana price today.
Friday 12.30.22: Matthew breakdown some rapid-fire news including Biden signing a $1.7 trillion government spending bill into law, the Bahamas Securities Commission confirming it has $3.5 billion in FTX assets, and Italy imposing a 26% capital gains tax on crypto profits. Matthew showcases a short opportunity with Ethereum.
