Old World Progress?
We’re making today’s post free for all readers on Substack, happy reading!
Crypto is such a new new paradigm change that, er, Coinbase CEO Brian Armstrong To Work On Market Structure Bill In Davos (The Block)... One reason I never really thought crypto would change the world is at least in whole or part because if it were a ‘new new’ thing it would be incompatible with the geriatric stasis of Davos which after all was based on a fallacy from 50 years ago ‘the limits to growth.’
Also in the BA files: Coinbase Says Capital Access Beats Income In Wealth Creation (Cointelegraph). An interesting twist where we did say some time ago “code is law” didn’t make a lot of sense…A16z Crypto wants DeFi To Ditch ‘Code Is Law’ For ‘Spec Is Law’ To Combat $649m Exploit Problem (DL News).
Somebody wants to fund crypto startups, Pump.fun Unveils Market-Driven Fund For Early-Stage Crypto Projects (Decrypt) - not sure that “pump.fun’ convinces me as a pure play high quality brand for future rounds but anyway…
Hong Kong Securities Body Pushes Back On Tighter Crypto Licensing Rules (Yahoo Finance) which is interesting as it seems deregulation cannot come fast enough once you have actually regulated crypto. See also: Hong Kong Crypto Firms Warn CARF Tax Rules Could Backfire — How? (Yahoo Finance) / Hong Kong Group Warns Crypto Licensing Rollout Risks Forced Shutdowns (Cointelegraph).
Interestingly a crypto startup may be looking at London, not New York or Hong Kong as its IPO base… Greg Jackson: London IPO A ‘No Brainer’ If Capital Flows Reverse (City AM).
Diversity of banking looming from Seoul: South Korea Weighs Ending One-Bank Rule For Crypto Exchanges: Report (Cointelegraph).
In the upper reaches of the Cariibean, Bermuda Partners With Coinbase And Circle For ‘Fully Onchain‘ Economy (Cointelegraph) while that firm once based in the middle of the region FTX spawns another entity this time from its European arm: Former FTX EU Trading Specialists Unveil Perpetuals.com, An AI-Powered Derivatives Platform (CoinDesk).
Finally a clampdown against a prediction market as Portugal Orders Polymarket Blocked After Election Bets Surge Before Results Announced (The Block).
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