Welcome back to another Trader Top 9! Binance, Coinbase, Bitmex, Robinhood, Facebook... they were all in the news this week. Let's dive in!
9. The US Treasury Department is trying to calm crypto community fears over the loose "broker" definition in the Infrastructure bill. Ryan correctly points out that the industry needs to mobilize and become more active going forward in Washington.
8. Meanwhile, the relative positions of the US and China, in terms of crypto adoption, fell as emerging countries like Vietnam, India, and Pakistan took the top spots.
7. Chris Dixon of a16z reminds us: "We look back today on classic moments in computing and wonder what it was like to be there. But you are there!" Don't miss his great thread below.
6. Speaking of looking back, did Nixon pave the way for Bitcoin 50 years ago?
5. White hat uncovers $350 million vulnerability in SushiSwap's MISO platform. Sam's account reads like a good techno-thriller.
4. Robinhood discloses that crypto went from 2% to 41% of overall revenue in the past year. Plans to implement a crypto wallet aim to address the #1 criticism of trading crypto on the platform.
3. Love them or hate them, Facebook continues to push forward with its digital payment ambitions.
2. Soon after its recent $100 million penalty, BitMEX announces that it holds over $5 billion in Bitcoin. Meanwhile, Coinbase announces a stockpile of over $4 billion in cash.
1. The crypto market lost $1 trillion in the May 19th drop earlier this year. Now traders who were unable to trade take action against Binance. Adding to the intrigue, is how to seek recourse against an exchange that claims no home base.