Pocket News

Hey There!
Welcome to Clutch’s weekly Pocket News. 👛 SBF wants people to be afraid of how much they love him. No thanks.💀 In Crypto news, the SEC sues Genesis and Gemini👩🏻‍⚖️, crypto markets are up📈, and 3AC is coming back with a new crypto business venture💸. The memes make themselves. In Clutch News, we helped Minted Mojito with their newest web3 marketing course. In Community Updates, The Hug has released a class on Web3 education made by creators for creators🌀, and we have an upcoming IG live event with F3 this Friday.🌈
Let’s get it. 🔥
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SEC sues Genesis and Gemini👩🏻‍⚖️, Crypto markets are up📈, 3AC is coming back with a new crypto venture💸

Clutch is one of the contributors to this awesome new Web3 marketing course by Minted Mojito. It’s the course you wish you had when you first made the jump over to working in crypto and web3!

Crypto News

SEC charges Genesis and Gemini with the sale of unregistered securities.💀

The SEC charged Genesis and Gemini on the unregistered offer and sale of securities to retail investors through the Gemini Earn crypto asset lending program. SEC Chair Gensler said in a statement Gemini raised billions of dollars without registering the program Gemini Earn. By doing so, Genesis and Gemini bypassed “disclosure requirements designed to protect investors,” Gensler was really ahead of it this time.
Gemini co-founder Tyler Winklevoss tweeted that the SEC announced their charges to the press before notifying them. “Super lame.”

Bitcoin surge causes $500 million in liquidations.📈

Bitcoin liquidation reached the highest in three months at $500 million. Crypto markets surged to regain a $1 trillion market capitalization. Although the markets are down 70% since last year, an average growth of 20% across major cryptocurrencies this week is a promising sign for continued growth.

3AC founders are seeking investments for their new crypto firm.💸

The founders of bankrupt hedge fund Three Arrows Capital (3AC), Su Zhu and Kyle Davies (still MIA), are seeking investments for a new crypto claims firm they’re opening called GTX. How appropriate. The founders and Coinflex are pitching to raise $25 million for their new company.  3AC filed for bankruptcy last July after a series of bad investments and subsequent insolvency.

SBF creates a Substack.📣

If facing 115 years in prison wasn’t enough, disgraced FTX founder Sam Bankman-Fried (SBF) has created a substack to explain how he thinks the FTX collapse went down and maintain his innocence. “Note that, in many places here, I’m still forced to make approximations.  Many of my personal passwords are still being held by the Chapter 11 team–to say nothing about data,” says Bankman-Fried in his substack.

Markets, you up?👀

The answer is YES! It’s warming up this winter. Bitcoin (BTC) is up 18.27%, and Ethereum (ETH) is up 13.64%. Reasons for the pump could be that inflation has shown signs of slowing down from 7.1% in November to 6.5% in December, and FTX announced that they have $5 billion in cash and liquid assets.

Community Update

The HUG Web3 educational course is now out!

Applications are LIVE for HUG Studios, the only Web3 educational program made for creators by creators.
Learn more about our three different programs designed to take you to the next level🧵 Registration ends January 24th!


Upcoming Events

Instagram Live with Clutch and F3: Personal Journey as Web3 Founder

Dates: Friday, January 20
Time: 3-4pm EST


Written By

Nargiza Schmidt