Welcome back to the Trader Top 9! Wow, what a week it's been with some major market moves and a bombshell tweet from Coinbase CEO Brian Armstrong that came on Tuesday. Let's dive in!
9. First, let's rewind to last Friday, when the Wall Street Journal broke a story on regulatory trouble for Uniswap.
8. Then on Sunday, we saw BlockFi make the front page of the New York Times, as regulators struggle to determine how to regulate crypto lending and interest-bearing accounts.
7. And Elizabeth Warren continued her assault on crypto with a bit of hyperbole that doesn't quite stick.
6. After making some BTC purchases on Monday, El Salvador officially adopted Bitcoin as legal tender on Tuesday, though it got off to a rocky start. MacKenzie Sigalos at CNBC weighed in on just how disruptive this might be for international money transmitters like Western Union.
5. As the big day for El Salvador unfolded, the broad crypto market experienced one of the sharpest corrections - you might call it a flash crash - in months. Many on Crypto Twitter weighed in, though Sam Trabucco at Alameda summarized a movie that he's seen one too many times.
4. Later on Tuesday night, Brian Armstrong, founder and CEO of Coinbase, dropped the mother of all tweet storms, calling out the SEC for what he calls their "sketchy behavior" as Coinbase prepared to launch their Lend program.
3. Many were eager to weigh on on this aggressive move from Coinbase, with most egging them on and happy to have them fight this battle on behalf of the industry.
2. Solana (SOL) remains the hottest thing in crypto, outside of perhaps NFTs, up another 50% this week. On Monday, Kyle Samani backed up the assertion that institutions are moving in. And Alex Kruger echoes arguments we've made about Solana's benefits.
1. And finally, Jill Gunter lays some knowledge on Crypto Twitter with these wise words. Another exciting week is nearly in the books, but the best is still yet to come!