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Here’s what we got today:

• 5 quick hitters from Twitter 💥

• Celsius is emerging from bankruptcy 🍪

QUICK HITTERS FROM TWITTER 💥

1/ FTX is back in the headlines…

The 3 most hated letters in crypto (FTX) are back in crypto’s center stage. 

This time, there’s good news:

Pretty sweet, right? 

Well, there’s a twist: creditors will get refunded based on crypto prices as of November 2022. 

• BTC’s price (Nov 2022): ~$17,000

• BTC’s price (Today): ~$43,000

Talk about bittersweet... 

On one hand, creditors get some money back. (Break out the bubbly!)

On the other hand, it’s a fraction of BTC’s price now. (Pour one out for the profits).

2/ Tether makes it rain… 💸

Tether just dropped its attestation report: 

• Profit last quarter: $2.85B. $1B from net operational profit (mainly U.S. T-Bill interests) and $1.85B from gold and BTC holdings. 

• Total profit for 2023: $6.2B (!!)

• Total U.S. T-Bill exposure: $80.3B.

• Excess reserves: $5.4B. 

The craziest part? Tether made more money than Goldman Sachs last quarter…

… with less than 100 employees. 🤯

Tiny, but mighty.

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3/ CryptoPunk #5363 was “accidentally” bought for 655 ETH.

On today’s episode of ‘Crypto Investor Gets Rekt’...

The buyer paid 10x the floor price. Many are speculating the sale was either…

• A “fat finger” mistake. If true, get rid of the finger. 

• A wash trade. This is often used for tax evasion or as a way to legitimize funds from questionable origins.

Do I support wash trading? No.

Do I hope it was a wash trade? Kinda… I wouldn’t wish a $1.5M fat finger mistake on my worst enemy.

4/ Bitcoin is headed to Cornell University. 

Check it out, the first Bitcoin degree and academic program has been approved in the U.S.

Where? Cornell University. 

The coolest part is how it happened. 

A student (Ella Hough) wanted to learn more about Bitcoin in school.

The problem? There were no Bitcoin classes or programs. 

So, she proposed to create one back in October 2022. (This is what I call a “f*ck a beat, I’ll go acapella” move) .

She sent a ton of emails, letters, and written proposals to all the important people at Cornell. 

Her advisor. The Board of Trustees. The President. You name it. 

The responses she received?

• "Bitcoin is too narrow. You should study the Gold Standard instead."

• "Blockchain is the true innovation, not Bitcoin."

• "Bitcoin and blockchains sound more like a heavy metal band to me, than currency.”

That didn’t stop Ella.

15 months later, Cornell has its first Bitcoin degree and program. 

What a badass.

5/ Words from the Wise…

Great words to live by.

BITE-SIZED COOKIES FOR THE ROAD 🍪

Constellation Network’s Enterprise Advisory Board is shaping the way that institutions integrate blockchain technology. They’re doing so by combining some of the brightest tech and finance minds from The World Bank and companies like Microsoft and JPMorgan. Meet the board here!*

Celsius is emerging from bankruptcy this week. The former crypto lending platform will distribute $3B back to creditors. 

Fed holds interest rates, Powell says sticky inflation would delay future cuts. The Fed opts to hold rates for a fourth consecutive time, citing high job openings and slightly improving inflation.

SEC moves to drop DEBT Box case, for now, after sanctions threats. The SEC told the court that, while it made a mistake, dismissing these charges should be the only sanctions they face.

Binance launched a marketplace for inscription tokens. Binance’s newly launched inscriptions marketplace follows OKX’s move earlier this week to enable Doginals, Stamps, and Runes inscription standards.

Worldcoin under investigation in Hong Kong over data privacy concerns. Hong Kong's Office of the Privacy Commissioner for Personal Data said Worldcoin is suspected of mishandling the biometric data it has obtained. 

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.