🗿 SBF Trial Shocker 🧑‍⚖️

FTX founder Sam Bankman-Fried began his trial. If convicted, he faces up to 20 years in prison.

Today’s No FOMO newsletter is brought to you by…

GM. Some mixed updates this week as courts deny the SEC’s appeal against Ripple loss, and the SBF trial moves at full speed. Tbh, we think the SBF is kind of 🥱 2022 news but we’ll give you the updates anyway.

Without Further Ado. ☕ *knuckle cracks* ☕ Let’s get into it.

Today’s Specials:

Weekend Alpha: What to Watch 👀 : Ethereum More Centralized??

No FOMO News 📰 : Crypto firm Ripple secures Singapore payments license

No FOMO 🗿 : SBF Trial Update 🧑‍⚖️

AI Intel 🤖 : Adobe Takes Editing to Next Level 🖼️

Well Known No-Names 📇 : The Remote Control 🎛️ 

Max’s Gaming Corner 🎮 : NFT Projects Using IP for Games 👀

Weekend Alpha – What to Watch 👀 

Going Up High School GIF by Pudgy Penguins

Gif by pudgypenguins on Giphy

Ethereum Has Become More Centralized Since the Merge and Shanghai Upgrades: JPMorgan, Binance’s Spot Crypto Market Share Shrinks for a Seventh Consecutive Month, Crypto Industry Fundraising at Lowest Levels Since 2020.

No FOMO News 📰

  • Sam Bankman-Fried: Trial of 'Crypto King' begins (BBC)

  • Crypto firm Ripple secures Singapore payments license (Reuters)

  • OKX exec says KYC will ‘raise the bar,’ bring real capital into crypto: Blockchain Economy Dubai 2023 (Cointelegraph)

  • 3 reasons why Bitcoin is struggling to rally above $28.5K (CoinTelegraph)

  • SEC argues Coinbase crypto case not barred by ‘major questions’ doctrine (Reuters)

  • Crypto Custody Firm Ledger Cuts 12% of Staff (Cointelegraph)

  • Nearly half of crypto users invest to boost living standards: Report (Cointelegraph)

  • Crypto-Friendly Congressman McHenry Temporarily Takes Over U.S. House (CoinDesk)

  • BIS, EU central banks building data platform to track crypto, DeFi flows (Cointelegraph)

  • Why Some Crypto Firms Are Suspending Services in the U.K. (CoinDesk)

SBF Trial Update 🧑‍⚖️

The latest: FTX founder Sam Bankman-Fried began his trial on October 3, 2023. If convicted, he faces up to 20 years in prison.

Bankman-Fried is charged with…

  • wire fraud

  • conspiracy to commit wire fraud

  • money laundering

  • conspiracy to commit money laundering

Here is a summary of the key events in the trial so far:

  • FTX’s Cofounder Gary Wang testified yesterday that Alameda Research was given special privileges to withdraw essentially "unlimited funds" from the fallen crypto king's exchange, FTX.

  • Matt Huang of Paradigm has marked his $278 million investment in FTX to zero.

  • Only two of the twelve jurors have any background in finance, so it might be hard to fully grasp the gravity of the FTX fraud case.

Our favorite places to monitor the trial:

AI Intel 🤖

  • AI threatens to dethrone the 4-year college degree (Axios)

  • ChatGPT-owner OpenAI is exploring making its own AI chips (Reuters)

  • AI-driven earthquake forecasting shows promise in trials (PhysOrg)

  • Adobe teases new AI photo editing tool that will ‘revolutionize’ its products (TheVerge)

  • Morgan Stanley says these global stocks will soar on the $150 billion generative AI boom (CNBC)

Well Known No-Names 📇

Where would we be without the remote control? Luckily Robert Adler was born

If you’re reading this email, you’re too young to remember a time before the remote control.

Now you can sit your lazy ass on the couch, change the exact hue of your neon green lighting, and open the garage for your food delivery all at the same time. But it started with Adler’s remote.

Not unlike many mid twentieth century inventions, it came about because of WWII. Adler joined Zenith’s US military communications team during the war, and continued his work with TVs afterwards.

With only 4 functions, his first device produced tones the television recognized as "channel-up," "channel-down," "sound on/off," or "power on/off." First marketed as the "Space Command" by Zenith in 1956, Adler's remote was sold with more than 9 million TVs before the advent of infrared technology in the 1980s.

A true hero for lazy POSs everywhere. Thank you Robert Adler.

Max’s Gaming Corner 🎮

Our web3 gaming update, brought to you by Max Kaufman and Helika

NFT projects have turned to games to monetize their IP.

Here are 8 Top NFT Projects from 2021 that are now building and/or using IP for games 👇

7. NFTWorlds/HYTOPIA (MetaFab)

8. My Pet Hooligans (AMGI Studios)

Will this trend continue?

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