Florida Web3 Year In Review: 2022 --> 2023
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“Crypto winter” is the industry term for the chill that descended on the market in 2022, and contagion was the name of the game. After the collapse of the TerraUSD algorithmic stablecoin, major crypto players fell like dominos: Three Arrows Capital. Voyager Digital, Celsius Network, FTX, BlockFi.
Washington, D.C., will be a crypto hotspot in 2023 as regulatory innovation proceeds at unprecedented rates.
The centralized finance disasters of 2022 were the result of poor risk management, insufficient governance, incomplete audits, and potential fraud – all of which could have happened in any industry. Consumer protection will be top of mind for policymakers in 2023. The majority of emerging policy will be around centralized exchanges and stablecoins. Exchanges like Coinbase may be forced to be G-SIFI-regulated institutions, which will increase their regulatory compliance costs. Washington, D.C., will be the hotbed of some of the most controversial and important conversations about crypto in 2023.
But we must differentiate between cryptocurrency as an asset class trading on a platform such as FTX, and the technology that underpins cryptocurrency; specifically, blockchain technology and Web3. The two are separate concepts and should not be confused.
💰 Bloomberg estimates that 900 million people regularly make crypto transactions
Only one year difference
🥇 MicroStrategy increases bitcoin holdings by 2,500 and now holds 132,500 BTC. MicroStrategy announced the purchase of 2,500 BTC, holding a total of approximately 132,500 bitcoins as of December 27, at a price of approximately $4.03 billion, with an average price of approximately $30,397 per bitcoin.
🇷🇺 Former Russia President: "The Bretton Woods system will collapse. Euro and Dollar will stop circulating as global reserve currencies."
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Crypto News Heard Around the State
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Disclaimer: Crypto Flo DOES NOT provide financial advice. All content is for informational purposes only. Crypto Flo is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.