Plus, Microstrategy apes 660 more bitcoins while Shopify's CEO joins the Coinbase board
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ApeDAO may dissolve and liquidate its ~$12M NFT portfolio. Along with CryptoPunks and Cool Cats, ApeDAO holds 81 Bored Apes, making it the collection's third-largest holder. To ape or not to ape, that is the question: - The debate over liquidation revolves around the wide discrepancy in the current $APED price and the net asset value of the DAO's holdings.
- If the collection were to be liquidated, $APED holders would generate substantial returns on their investment — as much as 8 ETH per 1,000 $APED tokens.
- Holders of the $APED governance token have until Feb 2. to vote on if ApeDAO should liquidate.
Right now, the vote's snapshot shows: 520,000 APED (53.62%): Don't Liquidate 450,000 APED (46.38%): Liquidate A few more things: - Yesterday, the snapshot voting showed that around 85.6% of voters were in favor of liquidating the DAO.
- The move to not liquidate the DAO is being led by two $APED whales, casting votes with 228,000 and 185,000 $APED, respectively.
- DAO voting is weighted by how many governance tokens the address possesses.
- In the case of ApeDAO, it appears the populace wants liquidation while a few select holders with heavy voting power don't.
- In comparison, the largest vote for liquidation was with 36,000 $APED.
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Shopify founder and CEO Tobias Lütke will join Coinbase's board of directors. The announcement detailed that Lütke's global experience will help the exchange expand its international footprint. More: - Lütke and Shopify were early adopters of Coinbase's crypto payments product, Coinbase Commerce.
- The decision is still subject to a formal board confirmation later this week.
- Coinbase's board also includes Coinbase co-founders Brian Armstrong and Fred Ehrsam, a16z founder Marc Andreessen, and former Cisco CSO Kelley Kramer.
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On Tuesday, NFL legend Tom Brady announced his retirement to focus on his family as well as his NFT startup Autograph. Autograph was announced in April 2021 and recently raised $170M from a slew of VCs, including a16z, Kleiner Pekins, and Katie Haun. More: - According to Brady, it was a coach who initially convinced him to join the crypto industry heading into the 2020 NFL season.
- Autograph helps professional athletes and other celebrities launch and market their own NFT projects.
- The company has reached partnerships with DraftKings and Lionsgate so far to help launch NFTs based on film franchises and pro athletes.
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It appears that India is finally warming up to cryptocurrency with its announcement of a digital Rupee and a crypto income tax. Although the proposal of a 30% tax on the income generated from the transfer of digital assets seems steep, it means that any concern of India banning crypto altogether appears to be off the table. More: - At present time, India doesn't have any laws regulating digital asset trading.
- The country proposed a cryptocurrency ban in early 2021.
- India will join fellow crypto skeptic China with its use of blockchain technology to make its transaction more efficient. The digital Rupee is set to launch on April 1, 2022.
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More than 94,000 bitcoins stolen from the cryptocurrency exchange Bitfinex back in 2016 were moved to a new wallet Tuesday. Bitcoin movements of this size often spook markets; however, most of the bitcoin associated with the Bitfinex hack are tracked and blacklisted, meaning the bad actors will have a difficult time selling them on centralized exchanges. More: - The 94,643.29 bitcoins moved on Tuesday was 79% of the total 119,756 BTC stolen from Bitfinex in 2016.
- ~$3.65B was moved in USD terms.
- The transfer occurred through 23 separate transactions.
- The last time any funds associated with the Bitfinex hack were moved was in April 2021.
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 SAYLOR TIME: Microstrategy announced that from Dec. 30, 2021, to Jan. 31, 2022, the company purchased a net total of 660 bitcoins for ~$25M at an average price of $37,865 per bitcoin. As of Jan. 31, Microstrategy holds 125,051 bitcoins acquired for an aggregate price of $3.78B at an average purchase price of $30,200 per bitcoin.
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- NYDIG launched a service that will allow employees at all publically traded to auto-convert all or a portion of their salaries into bitcoin.
- Over $500B was settled with stablecoins in Jan. 2022 alone — more than double the amount settled in all of 2019.
- Crypto trading terminal Aurox is looking to go public.
- The Russian government estimates that Russians reportedly hold 12% of all global crypto holdings.
- The NFL is looking at gaming and NFTs as a strategic growth vertical, according to a recent job posting.
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 |  | Trevor Grant is an entrepreneur, investor, and writer based out of Chicago, Illinois. His primary area of interest is web3 venture capital, social tokens, and infrastructure. Other pursuits include screenwriting, yoga, and traveling. He holds a BS in biomedical engineering. Connect with him on Twitter @trevorisonline |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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