30 Mar 2023

The Friday Focus - Issue 79

American authorities vs. the crypto industry have become a recurring topic in the Friday Focus. And this week is no different. Get the short and sweet rundown in the Friday Focus below.
Friday Focus Cover page
Top stories
  • Binance sued by the CFTC
  • Michael Saylor's MicroStrategy buys more bitcoin
  • U.S. senator Elizabeth Warren is building an anti-crypto army
Binance sued by the CFTCOn March 27, the U.S. Commodity Futures Trading Commission (CFTC) sued Binance and its founder Changpeng Zhao with allegations of taking a deliberate and calculated approach to violate U.S. commodities regulations. Simultaneously, a U.S. court put Voyager's $1 billion sale to Binance.US on hold.   CFTC also accused Binance of facilitating market manipulation, a claim that Binance CEO Changpeng Zhao has rejectedMichael Saylor's MicroStrategy buys more bitcoinMicrostrategy announced the repayment of a Silvergate loan at a discount and the purchase of more bitcoin. Read what happens to the bitcoin price when Saylor buys bitcoin and how much gunpowder MicroStrategy has left in this K33 article.Elizabeth Warren is building an anti-crypto armyInfluential U.S. Democrat senator Elizabeth Warren has signaled she's building an anti-crypto army as part of her re-election campaign. This might hurt her re-election chances, though, as polls suggest many Americans think crypto is a key innovation for the future. Other news
Insights from the week
Bitcoin to Nasdaq correlation is declining - and it makes sense! BTC's 30-day correlation with Nasdaq sits at 0.3, down from 0.75 in October. 
In this article, we point to the forces behind the decline in correlation.
Weekend Reading
News card 2 (2)
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News card 3 (1)
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