😎 Binance Is Entering New Countries To Exit Old Ones

Gm, this is doodhwala, the crypto newsletter that’ll love you unconditionally. ❤️

Even if you don’t like doodh all that much.

It’s difficult but we just can’t help it. 🥲

Here’s what we got for you today—

• 🤨 Binance Sus: Binance is entering new countries to exit old ones.

• 🚀 Reddit NFTs: Reddit is all set to launch Gen 4 collectibles on Polygon.

• 📈 Cheese and Charts: Bitcoin Bull Run in 2024 is happening.

• 🛠️ Resourcewala: Cryptoeconomics? WTF is that?

• 🍼 Doodhshots: 399%. That’s the percentage cryptojacking is up by.

🤔 What Da Binance Doin?

There is one beloved crypto exchange that we can all make jokes about—

And be worried about off-ramping crypto all of a sudden. 🙂🔫

That’s Binance. 🙌

Binance has been doing hella stuff right now.

And it is our job as professional cow milk drinkers to understand what da hell they’re up to.🤨

Let’s dive in to understand wtf they’re doing!

1️⃣ Binance says ‘Konnichiwa’ to Japan.

To create a classic anime villain arc story—

Binance is getting back into Japan to re-launch crypto services. 🇯🇵

Why did they leave in the first place?

Well, they were asked to GTFO by the Financial Services Agency (FSA) two years ago.💀

At the time, they were accused of conducting operations in the country without permission.🙅

How are they doing it now?

Binance acquired a regulated crypto exchange called Sakura Exchange BitCoin (SEBC) in November of 2022.

This entity is now being renamed to Binance Japan, and they will be able to offer flagship services in the country now. ⛳

Here’s what our man CZ had to say about it. 👇

2️⃣ Binance says ‘Sayonara’ to Germany.

Binance is implementing a new “Enter one country, Exit another one” strategy for now. ↩️

There’s been a new entry to the list of countries that Binance exited.

And that’s Germany.

Let’s also not forget that they left/ are in trouble in—

👉 Cyprus.

👉 Belgium.

👉 The Netherlands.

So why are they Yeet-in Germany?

Well, we don’t know. In fact, we don’t think they know why they withdrew their application. 💀

Everyone’s speculating it’s because of the whole SEC showdown happening in the US.

We think it’s because Binance doesn’t like German Beer all of a sudden. 🍺

(Relax guys, we still know. 🥛>🍺)

3️⃣ Binance says ‘Nani?’ about layoffs.

Countries aren’t the only thing that are getting yeet-ed out.

It’s Binance’s employees as well. 😮

In a report by the Wall Street Journal—

Binance was laying off over 1000 employees and is preparing to lay off 1/3rd of the workforce.🤡

They pulled the usual - “We’re maintaining Talent Density” crap to avert the situation.

Literally a ‘Nani?’ moment. 🤣

Why are they laying off people?

Hmm…here are a few wild guesses.🤔

👉 They’re literally targets right now for the Department of Justice as well as the SEC.

👉 Several members of the Senior Management are getting out of the company.

👉 They like to fire people we guess. 🤷

And what was CZs response to this?

Talent Density. Again. 😠

But this time - he said that the numbers reported by the media were way off—

And also that Binance is still hiring. 🤭

The question then would be - How SAFU are they in the company?🫂

🔥 It's Drop Day, Redditors!

Reddit did something really big! 🥳

They released Gen 4 collectible avatars, even though NFTs aren't as hot as they used to be.

Yes, you heard it right - they're doing this despite the NFT market slowing down.

Introducing… “Retro Reimagined". 🕰

Yup, that’s the name of this Gen 4 series.

This isn't the first time they're doing this. 🤠

So far, they've released avatars like this three times before.

1. Creator Collection (August 2022) 🎨

2. Series Collection (October 2022) 🎨

3. Future Realities Collection (April 2023) 🎨

Were they successful? Yes, a LOT!

Reddit’s previous collectible avatars accounted for $32.6 million, cumulatively across 306,253 total sales.

Just like before, the new ones will be on the Polygon blockchain.

Tho the collectibles can’t be sold as secondary sales on Reddit as of now.

The new drop will have designs from a mix of old and new creators, including

• Cool_Cats_NFT

• Micah Johnson

Cool Cats is a big NFT project backed by Animoca Brands.

Since July 2021, they've sold 9,999 cartoon cat avatars worth about $388 million.

Reddit also plans to change up its in-app shop, which currently has some Gen 3 avatars, many priced at $4.99. 💲

The team of artists creating these include:

👉 rojom

👉 gasolyn

👉 dashikka

👉 Ali Sabet

👉 kristyglas

👉 StutterVoid

👉 Conall-in-Space

Meanwhile, the wider NFT market is struggling. 😞

Top NFT projects like

• Invisible Friends

• Goblintown

• Moonbirds

• Doodles

have lost up to 95% of their value.

Even the NFT of Jack Dorsey's first tweet, bought for $2.9 million, is now worth just around $3,700.

Not surprising to me tho. 😑 I mean c’mon bro, seriously, a tweet?

But Reddit isn't phased by this. 🌬

In less than a year, they've almost reached 10 million users for their collectible avatars. 🍪

And likewise, doodhwala’s also made a big family of doodhs and we hope it’s gonna get bigger and bigger. ❤️🥛

📈 Cheese and Charts: Bitcoin Bull Run = Confirm?

2024.

It’s a year the Doodhwala is waiting for. ⏳

Not because we like to age—

But rather the hope for a Bull run so we can recover our investments made into coins involving dogs. (Poverty is not a choice, it’s a way of life nowadays)

There is light at the end of the tunnel tho. 🔦

Coz all the right metrics point towards a Bitcoin bull run in 2024.📈

And this doesn’t even count major events like—

• The next Bitcoin halving in 2024.

• Final ETH upgrade by the end of 2023.

• Possible major Bitcoin ETF listings in the next 12-24 months.

One such funky metric is HODL waves. 🌊

What is that?

And what do these frikkin waves say?🤔

👉 There is a dominating supply of coins that have been HODL’ed for 2+ years.

👉 Bitcoins HODLed for 2+ years account for 80% of the total supply.

👉 Surprisingly, there is almost a 20% supply of Bitcoins that are HODL’ed for 10+ years. 😱

What do you think?

Are the whales pointing toward a bull run? Or are we paranoid?😀

Hit reply and let us know what you think!👇

🛠️ Resourcewala: Cryptonomics 101

Ever wonder why crypto is the new black? Or why everyone’s dropping everything to create virtual cats or apes? 😺

It's all about Cryptoeconomics! 🚀

Cryptowhat? Yeah, we thought so. It's not rocket science, though sometimes it feels like it! 🚀

But don’t you sweat, 'cause we got your back! 💪

We're taking you on a wild ride: A Crash Course in Mechanism Design for Cryptoeconomic Applications! 🔥

We ain’t gonna leave no stone unturned. So, what’s on the agenda? 👀

1️⃣ What in the world is Cryptoeconomics? 🌍

2️⃣ Why should I even bother understanding it? 🤔

3️⃣ How does this cryptonomic thing work? ⚙️

🍼 Doodhshots: Up By 399%

• 🤝 Double Trouble: Lido Finance DAO considers a two-faced governance model, aiming to make decision-making smoother. Two heads are better than one?

• 🚁 Euro Exit: Binance pulls the plug on its services in not one, not two, but three European markets, as MiCA rules loom. Au revoir, Binance?

• ⚖️ Lion City Law: Singapore court puts its gavel down and classifies crypto as property in a recent Bybit case. Property or currency - why not both?

• 🛡️ Ransom-what?: As ransomware slowly bows out, cryptojacking skyrockets by 399%, reports a cybersecurity firm. Out of the frying pan, into the fire, eh?

• 🇰🇷 Korean Crackdown: South Korea forms a special interagency unit to strike down crypto crimes. Sherlock Holmes, is that you?

📍 Web3 Events Nearby

Another weekend coming up, another meetup to attend. 😎

Check out ➡️ meetupswala.xyz for upcoming Web3 events in your city, whether you're looking for:

• meetups

• hackathons

• conferences

• or just wanna hang

Meetupswala will have something that's right for you.

Here are the top Web 3 events for this week:

1️⃣ Web3 Innovators Nexus 2023

🗓️ This Saturday 📍 Kochi

⭐️ Register here → *https://www.meetupswala.xyz/events/987*

2️⃣ BuildGood BootCamp: Hyderabad 🛠🌱

🗓️ This Sunday 📍 Hyderabad

⭐️ Register here → *https://www.meetupswala.xyz/events/984*

3️⃣ Move the Block: Build On-Chain Game

🗓️ This Saturday 📍 Chennai

⭐️ Register here → *https://www.meetupswala.xyz/events/966*

🤣 Milky Meme Of The Day

If you want more doodh then, be sure to follow our Twitter, LinkedIn, and Instagram.

That’s all for today folks! See ya tomorrow!

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer. None of what you read here is financial advice. We aren’t here to get you to buy or sell crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.

Today’s edition was brought to you by Ritik Gupta and Sumanth

Edited by: Arvind Krishna and Aakash Athawasya