Crypto weekly is co-authored by @serdave

2023 SUMMARY

- Crypto Market Cap ($1.8T): +113%
- BTC ($42,470): +157%
- ETH ($2,285): +91%
- SOL ($102): +946%
- UNI ($7.31): +42%
- MATIC ($0.97): +28%
- Tether Mkt Cap ($92B): +38%
- USDC Mkt Cap ($24B): -45% 

2024 PRICE CHANGE: WTD/YTD

- Crypto Market Cap ($1.7T): -2% / -2%
- BTC ($44,184): +4% / +4%
- ETH ($2,243): -2% / -2%
- SOL ($94): -8% / -8%
- UNI ($6.17): -16% / -16%
- MATIC ($0.83): -14% / -14%
- Tether Mkt Cap ($94B): +2% / +2%
- USDC Mkt Cap ($25B): +4% / +4%
- BTC / ETH Dominance: 50% / 16%

THIS WEEK IN CRYPTO

- A new crypto tax rule went into effect January 1 requiring businesses who receive $10,000 in crypto report it to the IRS within 15 days. The IRS will require the name, address, and social security number of the person from who the funds were received. Link. Link.

- JPMorgan and Goldman Sachs are in talks with multiple Bitcoin ETF applicants to be an authorized participant, ​​a role that involves creating and redeeming ETF shares to ensure the products trade in lockstep with their underlying assets. Link. Link.

- Solana monthly NFT sales topped Ethereum for the first time ever. Solana NFT sales totaled $366.5 million in December compared to $353.2 million on Ethereum. Link. 

- Federal prosecutors will not pursue a second trial for additional charges against former FTX CEO Sam Bankman-Fried (SBF) because it would "delay" a "timely and just resolution of the case." SBF will be sentenced in March for charges from his first trial, where he was found guilty of wire fraud, securities fraud, and money laundering. He faces up to 100 years in prison. Link. Link. Link. 

- Crypto exchange OKX is delisting privacy coins Monero and ZCash and Binance said it was considering delisting the coins. An exact reason was not provided but privacy coins have received increased scrutiny from the US Justice Department over OFAC compliance. Link. Link. 

- The cumulative total value locked on Ethereum layer 2’s cumulative reached an all time high of $21 billion this week. Link. 

- Major US exchanges that plan to list the Bitcoin ETF filed documents with the SEC this week. The 19b-4 documents were filed based on feedback from the SEC and is viewed by experts as likely the last step in gaining regulatory approval. Link.

- North Korea was responsible for $600 million in crypto hacks last year. In total, North Korea has stolen over $3 billion in crypto hacks over the last six years. Link. Report. 

- The price of ENS rose over 50% after ethereum co-founder Vitalik Buterin encouraged Layer 2s to support ENS domains directly on those chains. Link. Tweet. 

- Visa is piloting a Web3 consumer loyalty program that will let brands create digital wallets to store reward points and experiences on behalf of consumers. Link. 

- A wallet belonging to anonymous Bitcoin creator Satoshi Nakamoto received over $1 million in Bitcoin this week. Link.