tl;dr

• Well the SEC has doubled the size of its Cyber Unit and renames it to Crypto Assets and Cyber Unit• Legendary investor, Paul Tudor Jones, was dropping some pearls on why it is hard to not be long crypto• Algorand signed a deal with FIFA to be its official blockchain partner for Fifa.com• Banco Gal...

• Well the SEC has doubled the size of its Cyber Unit and renames it to Crypto Assets and Cyber Unit
• Legendary investor, Paul Tudor Jones, was dropping some pearls on why it is hard to not be long crypto
• Algorand signed a deal with FIFA to be its official blockchain partner for Fifa.com
• Banco Galicia, Argentina's largest private bank, announced it is now offering clients the ability to purchase certain crypto assets via its app
• The world's largest family-owned private bank, House of Lichtenstein, is offering direct investments in crypto
• Michael Saylor is not playing games and is dead serious when it comes to Bitcoin and is full steam ahead
• Belgium is home to the EU and NATO and has now laid out rules for registering in the country as a Virtual Assets Service Provider
• Otherside tanked about 25% and has a lot of people underwater

Big moves by big money names and further global adoption. Here is what is on my mind today.

1. The SEC has doubled the size of its Cyber Unit and renames it to Crypto Assets and Cyber Unit. This still feels like an enforcement move and not an even-handed regulation play. The new team will have 50 "experts" focused on maximum protection for crypto investors. The new team members will consist of litigators, staff attorneys, fraud analysts, and supervisors.

2. I was watching CNBC's Squawk Box today and legendary investor, Paul Tudor Jones, was dropping some pearls on why it is hard to not be long crypto. I am not the only noticing a brain drain from the traditional financial space. First it was fintechs. Now, it is Web3 and they are jumping straight out of college. They are being attracted by better compensation packages, including higher salaries and management opportunities. These kinds of packages are also attracting seasoned resources with financial, legal, computer science, etc.

3. I said a while Algorand is not a project to sleep on (even if it is moving a bit slow). Well, they proved it yesterday by signing a deal with FIFA to be its official blockchain partner for Fifa.com. They will be able to market during the 2022 World cup in Qatar and also includes the 2023 Women's World Cup in Australia and New Zealand.

4. Banco Galicia, Argentina's largest private bank, announced it is now offering clients the ability to purchase Bitcoin, Ethereum, XRP and USD Coin via its app. This is a very big move as Argentina continues a steady pace toward crypto adoption. A recent poll, shows 60% want more access to crypto. Argentina ranks 6th in global adoption.

5. The world's largest family-owned private bank, House of Lichtenstein, is offering direct investments in crypto. They have partner with Switzerland's SEBA Bank, which will be the broker and custodian.

6. Michael Saylor is not playing games and is dead serious when it comes to Bitcoin. $1B under water and he is full steam ahead and even looking at yield generation options on the unencumbered earnings following the Bitcoin-backed loan taken last month from Silvergate. Wall street is placing big bets on the growth of Bitcoin and the crypto space in general. I told you a couple of days ago that Goldman Sachs was getting into Bitcoin-backed loans. They wouldn't be doing it if they did not see a future in it.

7. Home to the EU and NATO, Belgium created rules for registering in the country as a Virtual Assets Service Provider. Operators already in the country must notify the FMSA of their activity by July 1st & register before September 1st. This will shake the rotten fruit from the tree and lay a solid regulatory foundation for the more reputable companies.

8. Otherside land auction by Yuga Labs is not doing so well, dropping 25% and a lot of people are underwater.

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 22 Dec 24
 22 Dec 24
 22 Dec 24