gm - January 7th, 2023

gm 👋

Crypto markets are up a touch, with Bitcoin at $16.9k and Ethereum up +1.5% to $1265. The SEC and DOJ have made DCG and Genesis a target, questioning transfers made between the two entities. Logan Paul has deleted his two response videos to Coffeezilla and has reached out to him to apologize personally. Logan has also publicly apologized while addressing the fact that he hasn’t owned up to the issues — he’s promised to make a third response video addressing everything up to this point.

Snapshot of Blue-Chip NFTs

NFT volumes hang around $25M, down from the jump in volume yesterday of $30M+. The Bored Ape collections hold the top four spots, with a total of $7.5M in turnover — outstanding loans on all NFT finance platforms across the collections are large enough in notional to create negative gamma to already tight liquidity to squeeze price action in either direction. Interest in Azuki has died down after a sudden rush to pick up NFTs in Azuki + Beanz ahead of the January 12th one-year anniversary.

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