GameStop to Drop Crypto Efforts as Q3 Losses Near $95M
Gaming retailer GameStop says it will no longer focus any efforts on cryptocurrencies, after amounting to $94.7 million in net losses in the third quarter and laying off staff from its digital assets department. On a Dec. 7 earnings call GameStop CEO, Matt Furlong, said it “proactively minimized exposure to cryptocurrency” over the year and “does not currently hold a material balance of any token,” adding: “Although we continue to believe there is long-term potential for digital assets in the gaming world, we have not and will not risk meaningful stockholder capital in this space.” (Cointelegraph)
Binance CEO CZ Takes On Renown Skeptic Paul Krugman In Cryptocurrency MasterClass
"I'm part of the crypto skeptic community, I guess you'd say," said economist Paul Krugman, opening a 30 minute-long conversation with Binance CEO Changpeng “CZ” Zhao produced for a new MasterClass course. “Our rap has always been that we can't see what problem crypto is solving, what it really is doing that we aren't already doing, or how it can—to the extent there is a problem—solve it better than other more conventional methods," he said. (Decrypt)
US Senator Calls Sam Bankman-Fried to Answer for Failure of FTX and Alameda Research
wo congressional hearings will be held next week on the collapse of cryptocurrency exchange FTX and U.S. lawmakers have asked former FTX CEO Sam Bankman-Fried (SBF) to testify. As the founder of FTX and Alameda Research, “you must answer for the failure of both entities that was caused, at least in part, by the clear misuse of client funds and wiped out billions of dollars owed to over a million creditors,” Senator Sherrod Brown told Bankman-Fried. (Bitcoin.com)
Markets: Bitcoin, Ether prices Rise as Gains in U.S. Equities Help Cryptocurrencies Bounce Back
Bitcoin rose back above the US$17,000 mark in Friday morning trading in Asia, helped by gains in U.S. equities overnight. Ether rose the most among the top 10 non-stablecoin cryptocurrencies by market capitalization. All on the top 10 list rose. (Forkast)
A New Model for Assessing Crypto Asset Liquidity
Market cap as a metric becomes particularly misleading when investors equate it to the liquidity of a token.
It’s 2022 and How Is Cardano Still Relevant?
Cardano is a joke. That’s it. That’s the number one rule for getting into crypto.
Death in Crypto: 3 Top Crypto Millionares Died Just Weeks Apart
With Vyacheslav Taran, Tiantian Kullander and Nikolai Mushegian three crypto millionares died in recent weeks.
How I’m Saving 95% on Fees With Bridging and You Can Too
Bridging crypto between different smart chains is one of the easiest ways to save on fees. Learn how to bridge between chains quickly and cheaply.
SEC Wants Firms to Publicly Disclose if They Have Crypto Exposure
The U.S. Securities and Exchange Commission wants companies to publicly disclose if they have exposure to crypto assets, including whether they do business with any crypto-related companies.
Former White House Adviser: Biden’s Executive Order on Crypto Is ‘Balanced’ but ‘Gaps’ Remain
<a href="https://www.coindesk.com/consensus-magazine/2022/12/05/carole-house-most-influential-2022/">Carole House</a>, former director of cybersecurity and secure digital innovation for the White House, said the March executive order took what she called a “balanced” approach to overseeing the crypto industry, but there are still “gaps” that need to be filled.
