December 5, 2022

Rumor: Twitter Coin

What a crazy weekend for crypto news.

Leaks of images of an apparent Twitter Coin took the crypto social space by storm – especially when Twitter un-bans a ton of Dogecoin ($DOGE.X) accounts the same day.

And then Alameda CEO Caroline Ellison was spotted (allegedly) in NYC – at a restaurant not far from an FBI and U.S. Attorney General’s office. You don’t have to be Sherlock Holmes or Agatha Christie to figure out what that might mean.

Also, in today’s Litepaper: a big spike in NFT price action, interest, and news.

The crypto market was sitting fairly positive before the opening of U.S. equities. However, since then, the crypto market has trended lower, with many altcoins from +2% to +3% for the day now flat or negative.

Here’s how the market looked at the end of the trading day:

Litecoin (LTC)	$80.21	4.23%
Solana (SOL)	$13.63	0.59%
Monero (XMR)	$144.40	0.11%
Shiba Inu (SHIB)	$0.00000930	-0.04%
Cosmos (ATOM)	$10.20	-0.36%
TRON (TRX)	$0.05	-0.43%
Bitcoin Cash (BCH)	$110.03	-0.70%
Bitcoin (BTC)	$16,916	-0.99%
Ethereum Classic (ETC)	$19.22	-1.08%
Avalanche (AVAX)	$13.52	-1.25%
Altcoin Market Cap	$480 Billion	-1.23%
Total Market Cap	$804 Billion	-1.20%

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Crypto

Twitter Coin?

Twitter user Jane Manchun Wong posted the image below – before making it private within minutes:

Another apparent leak is of Twitter’s API with a ‘Coins’ area:

User Nima Owji leaked an image of an anticipated but unannounced monetization option for Twitter that includes the suspected Twitter Coin logo next to ‘Tips.’

‘Tips’ is believed to be another monetization model to award posts and content on Twitter.

Elon Musk has commented frequently about monetizing Twitter and creating a more content-heavy platform for the future.

And coincidentally or not, on Sunday, Twitter unbanned many Dogecoin ($DOGE.X) related accounts. Many analysts and crypto enthusiasts believe this is a sign that some form of crypto integration with Twitter will soon happen.

Crypto

Alameda CEO Spotted Near FBI And US AG Offices?

Twitter user Autism Capital posted the following screenshots via Twitter on Sunday with the preceding message:

PLEASE CONFIRM: A user claims that they spotted Caroline Ellison at Ground Support Coffee on West Broad in SoHo Manhattan at 8:15 AM. This would mean she is not in Hong Kong and is in NY not in custody.

The photos allegedly show Alameda Research’s CEO, Caroline Ellison, not in Hong Kong, where she was suspected to be, but somewhere in New York City, New York.

Several other Twitter users recognized the restaurant – apparently within spitting distance of a U.S. Attorney General’s office and an FBI office.

Nothing is confirmed, so you be the judge. We’ll update you if something new pops up.

Crypto

NFT Volume Increasing

NFT-related cryptocurrencies are seeing a bit of a bump both in volume and appreciation.

One of the biggest gaming and metaverse cryptocurrencies, Axie Infinity ($AXS.X), has made some explosive moves today.

At the time of writing, Axie Infinity is currently up +33.14% but has gained as much as +52% on the day.

Our first-ever weekend Litepaper highlighted the Metaverse index as the third-best-performing index.

If you didn’t read our first Saturday edition of The Litepaper, you can read it here.

Overall, the attention and growth of NFTs continue. Coca-Cola ($COKE) just teamed up with Crypto.com ($CRO.X) to release a collection of 10,000 World Cup NFTs.

And in China, a court in Hangzhou city applied property law to NFTs – it ruled that digital online property should be protected the same way as property.

Bullets

Bullets From The Day:

😤 Do ‘Con’ Kwon isn’t making himself any more likable in the eyes of South Korean authorities. The Chief Justice in charge of warrants of the Seoul Southern District Court struck down the arrest of the former co-founder of Terra Labs, Daniel Shin. The judge conceded that the charges were serious, but he found it “difficult to see the necessity and significance” of issuing an arrest warrant. The court also denied arrest warrants for other Terra insiders. Do ‘Con’ Kwon took to Twitter and posted: “Strike 2”, followed by a tweet claiming Terra FUD is dying and calling his followers to action to “… rebuild this #DeFi gem and its community to its former glory.” Read the full story from CryptoNews.

😭 Trading and lending platform Genesis is still under pressure. The law firm Kirkland & Ellis, representing Voyager ($VGX.X) and Celsius ($CEL.X), reportedly represents an upcoming third party of Genesis’ creditors. So far, the total Genesis is reportedly on the hook for is roughly $900 million to the Winklevoss twins’ Gemini customers and another $900 million to a group of creditors represented by the law firm Proskauer and Rose. It is unknown how much the creditors defined by Kirkland & Ellis claim. More from Coindesk.

🥊 Be careful who you piss off. Embattled cryptocurrency exchange AAX was under attack – literally. After the exchange halted withdrawals in November, their Lagos, Nigeria branch began to see protestors arrive outside their offices. The situation escalated when the protestors stormed the AAX Lagos office and demanded their money. Some staff were beaten. The Stakeholders in the Blockchain Technology Association of Nigeria (SIBAN) called for peace. They empathized with their frustrations, explaining that the staff at the Lagos branch were also affected by the sudden withdrawal halt. Cointelegraph has the whole story.