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 MUST READS 

⚔️ Bitcoin and the Beat of War


Since our last CoinSnacks issue (right before the holiday break), Bitcoin has surged 10%-plus... daily volumes have strengthened... and it's currently priced above $8k for the first time since November.

The jump seems to be due to recent US-Iran tensions. (There was also a massive exchange rate misunderstanding between Iran’s Rial and USD after some reports claimed Bitcoin could be traded as high as $24,000 USD in Iran.)

So where to next? Well, if we learned anything in 2019, it was that any short-term price rally rarely means a full trend change is in place. Unless BTC maintains momentum and clears $10k, you won't be hearing anything too gung-ho or bullish from us.

The one significant takeaway from the recent surge, however, is that BTC is slowly establishing itself as a safe-haven asset. The correlation seems pretty clear. Whether BTC is a safe-haven asset, a peaceful protest, or something else, there’s no denying that its story is interwoven with the larger global political landscape. Here's a solid discussion from @NLW on the geopolitical landscape and what it means for Bitcoin going forward.
 

Telegram Investors Get Burned


This one's gotta hurt...

Telegram released a statement Monday, notably announcing that the TON Wallet won’t be integrated with the company’s popular messenger app at launch.

"Grams won't help you get rich. You should NOT expect any profits based on your purchase or holding of grams."

This means investors essentially handed over $1.7B and waited almost two years only to learn that the TON token gives them virtually no special rights or guarantees from the app's distribution. TL;DR: The TON token does nothing.

As Spencer Noon points out, 90% of the investment thesis for TON was having Telegram as a distribution channel.
 

Bitcoin 2019 Annual Review


Here's a great summary of Bitcoin for 2019... and arguably the only "year in review" you'll need to read.

Thank you, Jameson Lopp.
 

Bitcoin Journal Nakamoto’s Rocky Start


You might expect big things from a website named after Bitcoin’s founder, but so far there’s been a lot of “contributors,” lots of twitter drama, only a few stories – and a Telegram group that has bombed. Here's are two theories/discussions (here and here) on what went wrong.
 

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We’re not sure how many spots are available exactly, so make sure to click here now to register for free.

 

 DEEP DIVE 

A Beginner’s Guide to Decentralized Finance (DeFi)


Cryptocurrency’s promise is to make money and payments universally accessible – to anyone, no matter where they are in the world.

The Decentralized Finance (DeFi) or Open Finance movement takes that promise a step further.
 

The Great Race to Crypto Banking


Crypto exchanges around the world are currently racing to consolidate - and ultimately democratize - access to services known from traditional finance… and this will happen much faster than anyone expects.

This deep dive is one of the best rebuttals to the statement that "crypto is all speculation with no adoption." h/t @zhusu.
 

Crunching The Numbers: Is Canaan (CAN) Overvalued?


A couple months ago, we covered Caanan Creative's (CAN) IPO news and passed along the skeptic case...

And it turns out we weren't alone. Bitmex Research recently analyzed Canaan's financials and concluded "mining ASIC sales appear to be extremely volatile, more so than both the price of BTC and mining farm-operating entities’ revenue and earnings."

For now, it's looking like the skeptical sentiment has played out in the market. Canaan is still trading under its IPO price of $9.
 

 SPONSORED 

Biotech Spotlight: The Brain Cancer Drug Candidate


The NASDAQ stock exchange is abundant with emerging growth biotech stocks, but there is one company that is on our radar that is targeting the most aggressive type of brain cancer that was developed at the largest cancer treatment and research institute in the world.

Click here for more details...

 

 REGULATORY FRONT 

Kraken Received 50% More Regulatory Inquiries Last Year


Cost of compliance is going to do nothing but increase as more attention shifts to digital assets...

As shown in Kraken's "2019 Transparency Report," the cryptocurrency exchange received almost 50% more law enforcement inquiries from global regulators in the last year as compared to 2018.

 

🇰🇷 South Korean Committee Wants to Bring Crypto Into Mainstream Finance


Financial institutions should be allowed to offer cryptocurrency products such as derivatives, according to a government advisory body in South Korea.

With cryptocurrency trading surging worldwide, they claim "it is no longer possible to stop crypto-asset trade."

 

 TWEET OF THE WEEK 

A lot of people in the space are wondering if BTC's halving is already priced in... We like this take on it.

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