FTX Making Move After Move

Good morning. Happy Friday, today we've got February's inflation numbers, a cool thread on trends in Bitcoin mining, FTX making big moves, and more!

Market Update (as of 8:10am ET):

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Top 5:

1. US inflation rises to 7.9% in February, fresh 4-decade high. Transitory inflation can't stop and won't stop as the CPI hits its largest 12-month growth rate (7.9%) since 1982. On a monthly basis, CPI rose 0.8%, slightly faster than the 0.6% growth in January. Bitcoin, viewed by many as an inflationary hedge, saw prices decline slightly after the announcement. Other highlights: gas prices jumped 6.6% in February and "the food-at-home index" rose 8.6% year-over-year.

2. FTX picks Stripe to build payments and risk mitigation feature. The rapidly expanding crypto exchange is partnering with payment infrastructure company Stripe to streamline customer onboarding and reduce instances of fraud. The partnership provides a new fiat-to-crypto on-ramp for FTX customers and "the company is already seeing far faster speeds of know-your-customer (KYC) processing, higher rates of automated approvals, and an overall improved user experience for customers."

3. FTX enters music scene with Tomorrowland Festival tie up. Gaming, fashion, sports, and now music - FTX is getting a hand in every industry (sound familiar?). The partnership with Tomorrowland, an electronic music festival that sees over 400,000 attendees annually, will see the enablement of crypto ticketing options and Tomorrowland specific digital assets. At Tomorrowland's Winter Festival on March 19th, eventgoers will have the opportunity to collect NFTs that reward them with "exclusive events".

4. Esports team Misfits to create crypto gaming platform on Tezos. The sponsorship deal will see Tezos named as the official blockchain of the Misfits esports team. Misfits will also collaborate with Tezos to launch Block Born, a Tezos focused gaming company and rename their gaming incubator to MSF Tezos Incubator Hub.

5. Cool thread on Bitcoin mining from Pomp. Have a great weekend!

Weekend Reading:
- Annihilation - another great piece from Arthur Hayes this time focusing on war, inflation, and market impacts

Updates and other stories:
- BitMEX co-founder pleads guilty to violating Bank Secrecy Act...Read More
- OnlyFans donated 500 ETH to DAO supporting Ukraine...Read More
- Spartan Group announces $200 million metaverse fund...Read More

Top Sharers of the Crypto Top 5:
1. Donna Y. - Nashville, TN
2. Jake Y. - Greenville, SC
3. Forrest H. - Evansville, IN

External Resources:
1. Cryptopedia from Gemini - if you see a word, acronym, or phrase in this newsletter that you don't understand, there's a good chance you can find an explanation here
2. Crypto Explainer+ - intro level courses on Bitcoin, Ethereum, decentralized finance, NFTs, and more
3. Crypto Jobs! - looking for a new job? Check out this page from Anthony Pompliano with hundreds, if not thousands of listings

Disclaimer: The information contained in this newsletter shall not be understood or construed as financial advice. I am not an attorney, accountant, or financial advisor, nor am I holding myself out to be, and the information provided is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.