☕️ Grayscale’s Winter Woes ❄️ 😞

Barry Silbert Resigns as Grayscale seeks to distance itself from DCG.👀

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The Holidays are a time for taking it easy.

And this weird week between Christmas and New Year? The purgatory we’re currently in? That’s the apex of lazy livin’.

Use this time to develop a solid, winter belly bloat and physically merge with the couch to become a single being.

But is there any better way to fully commit to hedonism than resigning as the CEO of a major company?

That’s right, Barry Silbert is turning in his gun and badge. But why did this happen and how will Grayscale fare under new leadership?

Espresso Shots

☕️ Solana’s Xmas Rally 🎅 📈

Solana rallied past $100 on Saturday, Christmas Eve’s Eve, and currently sits at about $114.23.

Solana has increased roughly ten times in value throughout 2023 and is up 70% in December alone.

This recent frenzy in trading appears to be driven by the frenzy around BONK, Solana’s meme-coin, particularly the BONK airdrops on Solana’s Saga smartphones.

Some are calling it the most thrilling Christmas rally since Grandma recovered from that reindeer hit-and-run.

☕️ Minecraft Okays Worldcoin 👌 🪙

Microsoft’s gaming phenomenon, Minecraft, which has so far rejected cryptocurrencies and digital collectibles, will use Worldcoin’s World ID for user verification.

No, Minecraft won’t be scanning your children’s eyeballs, but it will be using World ID to prove that humans are, in fact, humans.

“With the rising prominence of bots in online gaming, World ID provides a privacy-preserving way to verify humanness and provide players with awareness as to whether they are interacting with other human players or bots,” a Worldcoin representative told Decrypt’s GG. “The specific integration with Minecraft aims to help server admins to reduce instances of ‘griefing’ and keep the gaming experience safer and more enjoyable for everyone.”

This advancement represents just the latest, most devastating blow in Minecraft’s long war on children making eye contact or going outside.

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Spilling the Beans

Grayscaling It Back 🪙 

Something about the New Year makes you reevaluate. 

What are some weak areas you need to work on or goals you need to rededicate yourself to?

The ball drops. You take a personal inventory and return to the next year with renewed vigor.

Or sometimes, you resolve to finally walk away from a person, place, or habit that’s no longer serving you.

And that’s exactly what Barry Silbert did when he resigned from Grayscale.

Grayscale Investments has had a rocky road and Silbert had captained his firm through most of those potholes.

Now, most of that trouble was caused by Digital Currency Group, the company that owns Grayscale.

But more than parental, there’s a fair bit of overlap between these entities, and it shows in the reshuffling of the current executives.

Silbert is the only one fully resigning, but Mark Murphy, Digital Currency Group’s current president, is also stepping down from the board.

Mark Shifke has been appointed as the new CEO of Grayscale.

But what happened to spur all this reshuffling?

Well, if you remember, Digital Currency Group was one of the major players in the conflict we affectionately dubbed the “Winkle Wars” between Gemini and Genesis regarding the failure of the Gemini earn program.

DCG owns Genesis and had to guide the firm through a legal battle against both Gemini and the SEC.

But more recently, DCG had a spot of bother in New York.

DCG was sued by New York Attorney General Letitia James for allegedly defrauding over 230,000 inventors, resulting in losses in excess of $1 billion.

Letitia James personally charged Barry Silbert with misleading the public by attempting to cover up these losses.

Both Silbert and DCG have rejected these claims, but this recent changing of the guard could suggest the firm is looking for a fresh start.

So, whether this was a dignified out and the opportunity to fall on his sword, or if this was some desperate corporate restructuring to create a new vibe, one thing’s for sure: Silbert’s out and those other guys are in.

Whatever the reasoning, Barry Silbert, we salute you. The man has fully committed, like many of us, to becoming a couch from December 26 to at least January 2nd.

Crypto 101

Latency: This is the delay internet users experience when they are far away from the server and their internet proportionally slows down.

Latency is a major factor to consider when evaluating the speed or potential of a crypto-mining venture.

The Last Sip

The Last Sip: The term, “Boxing Day,” comes from Victorian England. On Boxing Day, the rich would box up their extra gifts and food and distribute them to the poor. Today, December 27, we celebrate the far more modern and popular, “Mixed Martial Arts Day”.

Stay Caffeinated,

Coffee & Crypto Team

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.