Reading time 4m30s
GM, and welcome back to Tokengraph, your weekly one-stop news shop for all things crypto and Web3. Today, we’re bringing you a recap of the biggest events in crypto from the past week, including a senator’s war plans against crypto, Matt Damon’s thoughts on his Crypto.com ad, and more.
On today’s agenda:
Elizabeth Warren Hates Crypto
Matt Damon: Positive Take on Crypto Ad
SBF Paying Legal Fees with Gifts
US Gov Traveling “Silk Road” Again
Nvidia Denounces Crypto
We’ve known that Elizabeth Warren was anti-crypto for quite a while — but this is a new level of attack. Warren stated on Twitter that she plans to raise an “anti-crypto army” as part of her new re-election campaign.
JUST IN: 🇺🇸 US Senator Elizabeth Warren launches "anti-crypto" re-election campaign.
— Watcher.Guru (@WatcherGuru)
Mar 30, 2023
In response, Crypto Twitter has been riffing on Warren’s stance regarding crypto, posting memes and critically dismantling her platform.
Elizabeth Warren treats crypto like an ex boyfriend that she says she hates but talks about all the time and is quietly obsessed with.
— The Wolf Of All Streets (@scottmelker)
Apr 2, 2023
BREAKING! EXCLUSIVE!
Elizabeth Warren is forming an “anti-crypto army.”
We found this leaked photo of her lieutenants and generals, scary stuff.
— The Wolf Of All Streets (@scottmelker)
Mar 30, 2023
Senator Warren made her opinion on crypto quite clear last year with her Digital Assets Anti-Money Laundering Bill, which would aim to “mitigate the risks that cryptocurrency and other digital assets pose to the United States’s national security by closing loopholes.”
US Senator Elizabeth Warren: "With Bitcoin, there's no thing that backs it up. It's just belief."
And what backs Fiat? 🧐
— Crypto Crib (@Crypto_Crib_)
Apr 2, 2023
She’s planning to reintroduce the bill this year. In reality, if the bill is passed, it would place massive restrictions and barriers to entry for anyone wishing to interact with crypto, from traders to miners and more.
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Two years ago, actor Matt Damon did a Crypto.com commercial, a decision which was seen as controversial by many of crypto’s opponents even then — and now, in light of the crypto contagion that’s taken hold of the industry recently, Damon has confessed the reason why he did the commercial in the first place.
Matt Damon just said he did the infamous 2021 commercial because his charity was having a down year, and the crypto exchange donated $1 million to the charity
Effective altruism strikes again
— Genevieve Roch-Decter, CFA (@GRDecter)
Mar 30, 2023
Damon apparently did the Crypto.com commercial in an attempt to raise funds for water.org, his clean water project. “We had a down year in water.org and I did that commercial in an attempt to raise money for water.org,” the actor said in an Associated Press interview.
Actor Matt Damon COMES CLEAN about Crypto .com commercial. #CRO
— Altcoin Daily (@AltcoinDailyio)
Mar 30, 2023
In 2021, after hearing that Damon had donated his entire salary to water.org, Crypto.com gave $1M to the project completely of their own volition. The commercial collaboration was worked out from there, and Damon stated in the interview that he still has “a lot of gratitude to them for what they did for our foundation."
Did you know this #crofam?
Matt still has a lot of gratitude towards @cryptocom.— Pampa.cro (@Pampadalampa)
Mar 30, 2023
In a time where many celebrities and mainstream companies have denounced crypto as a whole without truly understanding the incredible merits of the technology, it’s refreshing to us to see an actor like Matt Damon still talking about his old Crypto.com ad with respect.
We haven’t written about SBF and the FTX aftermath in a while, but it’s come out recently that Bankman-Fried is paying for his legal team using a $10M gift he gave his father — which was funded through a loan from Alameda Research, FTX’s sister company.
Sam Bankman-Fried’s Legal Defense Is Being Funded With Alameda Money He Gifted His Father
In 2021, while CEO of FTX, SBF made a large monetary gift to his father, two sources with operational knowledge of both companies told Forbes. It was funded by a forbes.com/sites/saraheme…… twitter.com/i/web/status/1…
— db (@tier10k)
Mar 29, 2023
There’s nothing explicitly illegal about this fact that the court is addressing — it’s simply earned SBF further disdain from the crypto industry and the world at large.
SBF has just been charged for bribing Chinese government officials with $40 million
but he was not charged for bribing US politicians over $70 million
— Crypto Tea (@CryptoTea_)
Mar 28, 2023
Another update: SBF has also been charged with bribing Chinese government officials to the tune of $40M — after not getting charged for bribing US officials with $70M total.
SBF after collecting every possible federal charge
— Genevieve Roch-Decter, CFA (@GRDecter)
Mar 28, 2023
He now faces well over 10 separate charges and could be sentenced to a total of 115 years in prison. His trial is set to “begin” in October, but we’re honestly impressed by the number of shocking revelations that have continued to come to light about his case before the hearing even begins.
Which of the following technical patterns is the Bitcoin price chart possibly forming right now?
A. Cup and Handle B. Dead Cat Bounce C. Double TopB. Ascending Wedge
Scroll down to the bottom to see if you're right!
⚡ Lightning Round: Weekly Updates
A sell-off of that size could seriously impact the market, especially since it’s already in a very volatile place.
Michael Kagan, CTO of computer hardware manufacturer Nvidia, hopes the company’s products will be used for AI instead of crypto moving forward.
Robert Lowery’s “Softwar” has taken Amazon by storm recently, a book that makes the argument that Bitcoin could be used as a military-grade information security solution.
Ethereum is getting a big upgrade in its “Shapella” update (scheduled for April 12), combining execution layer changes (Shanghai), consensus layer updates (Capella), as well as Engine API modifications. Users will be able to withdraw staked ETH and the rewards they’ve generated for the first time.
❓ Trivia Answer
Answer: C.
Bitcoin could be forming a double top formation right now, which is a very bearish signal that occurs when an asset “reaches a high price two consecutive times with a moderate decline between the two highs,” according to Investopedia.
Web3 Resource of the Day
How Cryptocurrency Transactions Work - Blockchain Explorer Tutorial | Video from Nugget’s News
If you’ve never explored the ins and outs of how blockchain transactions actually work (or just want a refresher), then we highly recommend checking this video out. It’s an educational look into how you can use blockchain explorers to actually see what’s happening with your blockchain transactions in real time — enabling you to confirm where your crypto has gone, whether it’s stuck or not, and to further understand blockchain as a whole.
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DISCLAIMER: This is not financial advice. This newsletter is strictly educational and is not investment advice to buy or sell any assets or to make any financial decisions. Do your own research.