China Expands Crypto Censorship - The WAGMI Journal #30
Not a surprise, uncontrollable assets are deemed "dangerous".
In today’s issue:
The crypto market is up with the global crypto market cap sitting around $2.7 trillion. After the thanksgiving weekend dump, BTC and ETH have somewhat recovered while Metaverse tokens continue their massive rally. All eyes are on the US open to see how the global market reacts to the new Omicron variant as more data becomes available. In other news, China expands its crypto censorship, Germany's new government is more supportive of crypto, and DEXs volume is nearing $100B in November 2021 alone.
Starting today, our daily issue will be sent out before 9 am EST.
We’re continually improving our content — based on our readers’ suggestions, we are working to add:
a section showing open interest and other trading-related metrics 24-h changes
a section showing newly released projects
Please reach out if you have any other ideas or would like us to recap a segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆China Expands Crypto Censorship
It is no secret that China is quite antagonistic against crypto or blockchain technology. While the country wants to roll out its own CBDC, another form of capital (Bitcoin, etc.) that can’t be put under CCP control is considered a risk in China’s eyes. Recently, even crypto media outlets and mining pools are also seeing the effect of this clampdown.
⎆Germany New Government is More Open to Crypto
Germany has a new government in town after Angela Merkel’s long reign. Uniquely, unlike in the US, the new government that is so-called more progressive is actually more supportive of crypto assets. In its new coalition agreement, the so-called “traffic light” coalition government which consist of the center-left Social Democrats (SPD), the Green Party, and the business-friendly Free Democrats (FDP) mentioned that crypto and blockchain technology are one of the tech pillars that will support the country’s development in the next few years.
⎆DEX Volume Near $100 Billion
In November 2021 alone, DEXs volume almost reached $100B, sustaining its continuous increase over the past few months. Previously, DEXs volume peaked around May 2021, reaching above $150B. As other layer 1 protocols (AVAX, SOL, and others) incubate their DeFi ecosystem, we can expect this number to skyrocket even more, potentially even matching CEXs volume in the next few years.
👨🏻💻Decentralized Finance (DeFi)
Jutta Steiner Leaves Polkadot Builder Parity Technologies
Obscure Omicron Token Spikes 900% After New Variant Emerges
Decentralized Exchanges Near $100 Billion in Monthly Volume for November
🏛Governance - Active Proposals
Nouns DAO - Stake 10% of treasury in Lido
🦮NFT & Metaverse
AMC, Sony Offering NFTS to People Who Purchase Advance Spider-Man Tickets
New Play-to-Earn Collective HumanDAO Announces Token Sale
Crypto Data Firm DappRadar Set to Launch Its Own Token
Axie Infinity Plot Sells for $2.5M
Damien Hirst Turns His Drake Album Art into 10,000 Ethereum NFTs
Adidas Partnership Teased by Bored Ape Yacht Club, Gmoney, and PUNKS Comic
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
TabTrader - $5.8M Series A
⚖️Regulatory Update
India Has No Plans to Recognize Bitcoin As Currency; RBI Working On CBDC
Indian Crypto Unicorn CoinDCX Plans to IPO Once Regulations Permit
Celsius CFO Arrested on Charges Tied to Former Job at Moshe Hogeg’s Firm
Huobi Co-Founders Set Up New Chinese Entity
Bank of France Official: Existing Regulatory Frameworks 'Constrained' by DeFi Characteristics
Tanzania has Begun Preparations to Launch Its Own CBDC
Germany's New Ruling Coalition Calls for 'joint European Supervision' of Crypto in Ruling Agreement
Democratic Senators Oppose President Biden’s OCC Omarova Nomination
UK Digital Services Tax Targets Crypto Exchanges
📚Noteworthy Reads
Pemulis’s Read on analyst notes #1 (Nov 22-28)
Accel Cap’s Thread on A Guide to DAO Treasury Diversification Sales
Cold Blooded Shiller’s Thread on Trading Addiction
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.
DISCLAIMER:
All the information presented on The WAGMI Journal publication and its affiliation is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, and any other forms of advice. Writers, authors, and contributors of The WAGMI Journal may hold any assets mentioned in the issue.