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Far-right extremist Senator Wendy Rogers has introduced a bill into the Arizona State Senate to add bitcoin as “legal tender” for Arizona.

Critics of previous proposals have pointed out that the declaration of bitcoin as legal tender potentially violates constitutional limitations on states’ ability to issue their own money.

Rogers’ bitcoin bill continues the trend of far right figures endorsing the cryptocurrency, including self-proclaimed dictator Nayib Bukele. El Salvador’s future is staked on the success of Bitcoin — and it’s not going well.

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Washington-based doctor Ronald Craig Ilg has been sentenced to eight years in prison after he tried to get a bitcoin-for-hire hitman to kidnap his estranged wife and break the hands of a former colleague.  

Neonatologist Ilg was willing to pay $2,000 in bitcoin via the dark web to have a fellow doctor “given a significant beating.” He also specified that the assault “should injure both hands significantly or break the hands.”

Despite this attack not being carried out, Ilg returned to the dark web a month later with what he called “another, more complicated job.”

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Bankrupt lender BlockFi was revealed to have more than $1 billion in assets linked to FTX and Alameda Research when a creditor committee accidentally published unredacted financial records.

As reported by CNBC, the hastily-unpublished documents showed that the company, which filed for Chapter 11 bankruptcy protection in November, has just under $416 million worth of assets tied to FTX and a little over $831 million in loans to Alameda. This is considerably more than the $1.02 billion claimed in previous financial disclosures.

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Ethereum’s leading Layer 2 protocols, Arbitrum and Optimism, surged in popularity in 2022. Combined, Arbitrum and Optimism account for four-fifths of all value locked across Ethereum’s Layer 2s.

On January 12, these two protocols surpassed Ethereum’s daily transactions — showcasing their scaling potential. Optimism alone processed 800,000 transactions that day.

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A temperature check vote proposing to deploy Uniswap v3 on BNB Chain has passed with over 80% of the vote. This is despite community concerns about moving the decentralized exchange (DEX) to a more centralized platform. 

However, despite the vote attracting “the biggest number [of participating wallets] for the whole Uniswap Governance History,” with just 0.1% of voting wallets making up 99% of the 24.9 million votes, Uniswap may have centralization problems of its own.

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Crypto exchange Binance has acknowledged that it failed to keep backing for dozens of tokens issued on Binance Smart Chain separate, and instead commingled it with customer funds.

On Binance Smart Chain, 94 tokens issued by the exchange are pegged to other cryptocurrency assets. The backing for dozens of these “B-tokens” was stored commingled in an exchange cold wallet, rather than kept separate.

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Unfortunately, crypto’s hyperinflationist prognosticators got another prediction wrong. No, the Treasury Secretary will not be instructing the US Mint to forge a $1 trillion coin.

During an interview with the Wall Street Journal (WSJ), Secretary Janet Yellen formally denied rumors, explained why the Federal Reserve wouldn’t purchase it, and called the hypothetical item a gimmick.

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People on cryptocurrency Twitter are overjoyed at the prospect of helping you, and are quick to offer life, diet, entrepreneurial, and other advice; but never financial.

It’s a common-held belief that adding three simple words to the end of anything will absolve you of legal repercussions — despite digital asset lawyers warning that adding “not financial advice” on its own is “pretty useless.”

Sam Bankman-Fried, Changpeng Zhao, and Anthony Pompliano have all apparently missed the memo that the Securities and Exchange Commission went after celebrities like Kim Kardashian and Floyd Mayweather for crypto promotion, despite including the disclaimer.

Red flags aside, I sometimes feel as though I could use greater direction in my life. That’s why I’ve turned to the brilliant minds on crypto Twitter to advise me — but definitely not about my finances.

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Crypto companies will be forced to keep customer assets separate from company assets under new guidance due to be published by the New York State Department of Financial Services (NYDFS).

As reported by Reuters, the state’s top financial regulator is pushing for new rules on co-mingling of funds. The move comes in the wake of the collapse of US-based exchange FTX and trading firm Alameda Research which left the companies’ clients billions of dollars out of pocket.

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