  CoinDesk's Most Influential recognizes 50 people or groups who represent the biggest stories of the year.
In 2021, the most newsworthy breakthroughs ranged from the rise of NFTs, the continued growth of DeFi and stablecoins, the emergence of hot projects like Solana and Dogecoin, and the public listing of powerhouse companies like Coinbase.
 Sam Bankman-Fried The Miami Heat now play in the FTX Arena. Tom Brady and Gisele Bündchen star in FTX commercials. Only a year ago, most Americans had never heard of FTX, an exchange that – at the time – focused on professional trading products like derivatives. After a $420 million round of fundraising, FTX is now worth an estimated...  Elon Musk Regardless of your personal views of the man, you can't deny his outsized influence on crypto in 2021 – specifically on the price of bitcoin and dogecoin. It's possible that no one has ever had more direct influence on the price of an asset in all of human history. By simply tweeting a meme to his 65 million followers, Musk had the power to...  Trung Nguyễn The CEO of Sky Mavis and the company behind Axie Infinity, the breakthrough game that popularized play-to-earn video games, wasn't always a blockchain supporter. In fact, in 2017, when the initial coin offering (ICO) boom was in full swing, all he saw were bad actors trying to...  Senator Cynthia Lummis The Wyoming Senator holds plenty of BTC and may be the crypto industry's most prominent advocate in Congress. She has spoken at length about lots of issues in her first year in the chamber, and her vocal advocacy for the cryptocurrency industry...
Each year CoinDesk's Most Influential does more than recognize the who's who in the space. This year we've commissioned 10 artists to create portraits of these influencers, with NFTs of the works available at platforms like SuperRare and Foundation. Each sale will donate up to 20% to charities of the artists' choice.
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Thursday, December 9, 2021
Who Defined the Past Year in Crypto?
Coinbase to Offer DeFi Yields
  The biggest crypto news and ideas of the day Dec. 9, 2021 If you were forwarded this newsletter and would like to receive it, sign up here. Sponsored by  Welcome to The Node.
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Today's must-reads Top Shelf  SELF CUSTODY: Crypto exchange Coinbase is planning to integrate Ledger hardware wallets, bringing users more options for self-custody of their crypto. The integration will be rolled out in phases in Q1 of 2022, beginning with a Ledger to Coinbase Wallet browser extension. Separately, Ledger is launching a crypto debit card called Crypto Life. Card users will be able to pay in crypto to more than 50 million retailers and online stores. The card will be available to customers in the U.K., France and Germany in the first quarter of 2022, and for U.S. customers in the second quarter. CORPORATIONS MARCH IN: Mastercard is teaming up with five startups to solve global blockchain challenges as part of the payment giant's "Start Path Crypto" program. These includes smart-contracts platform Ava Labs, AI-focused mobile banking app Envel, peer-to-peer savings platform Kash, bitcoin banking app LVL and crypto rewards platform NiftyKey. Meanwhile, Microsoft's venture arm is leading a $27 million bet on NFT studio Palm. MORE IS MORE: MicroStrategy, the business-intelligence software company that's taken to accumulating bitcoin, said it bought 1,434 BTC between Nov. 29 and Dec. 8. The company paid about $82.4 million in cash at an average price of $57,477 per bitcoin, it said in a statement. As of Dec. 8 the company held approximately 122,478 bitcoins, purchased at an average price of $29,861 per bitcoin. NOT-FACEBOOK'S SHOT: Meta (formerly Facebook) is launching a limited trial of its Novi digital wallet within its WhatsApp messaging platform, the social media conglomerate said Wednesday. Novi lead Stephane Kasriel announced the move on Twitter, revealing that some number of individuals will be able to transact with the USDP (formerly Paxos Standard) stablecoin. This follows a U.S.-Guatemala remittance pilot with USDP and the Novi wallet that launched in October. WHAT'S UP IN DEFI? Cryptocurrency exchange giant Coinbase says it's opening up decentralized finance (DeFi) to customers who want a slice of high yields earned from lending and borrowing crypto assets, starting with an integration with lending platform Compound. Separately, buzzy Ethereum layer 2 Polygon announced a $400 million acquisition of Mir, a scaling solution using zero-knowledge proofs. It was an all token deal.
–Helene Braun
A message from Nexo  When it comes to buying, borrowing or earning on your crypto, you won't find and easier, safer way to do it than Nexo. And here's what'll happen next: you and your referrals will both get $25 in BTC within 30 days of them passing Advanced Verification and topping up the equivalent of $100 or more of any asset supported on the Nexo platform. There's no limit on the number of people you can refer, so invite as many friends as you'd like!
What others are writing... Off-Chain Signals 
A message from CME  Now available for trading: Micro Ether futures (product code MET), the latest addition to the CME Group suite of leading Cryptocurrency derivatives products.
Sized at 1/10 of one ether, the new futures contract offers a cost-efficient way to fine-tune ether exposure. Like all CME Group Cryptocurrency contracts, Micro Ether futures are CFTC-regulated, which helps allow for market transparency, centralized trading, and reduced counterparty risk.
 Most Influential is CoinDesk's recognition of this wide-ranging field of innovation. These names were selected first by readers in a survey and then by staff over two rounds of (intense) meetings. Check out the top 10 here.
Putting the news in perspective The Takeaway  What Does Kickstarter Going Decentralized Mean for Web 3? It's ya boy, Danny K. Kickstarter going decentralized is the latest boon to the Web 3 narrative, the idea that cryptocurrency and other decentralized tools are reinventing the internet as we know it.
On Wednesday, the crowdfunding site announced it will embark on an ambitious technical overall of its core business. Details are scant, but the entity will spin up a separate company to build a crowdfunding platform using the Celo blockchain. Once that's ready – there's no timeline – Kickstarter will transfer over and even open source the tools for others to make use of the protocol.
This is a significant turn of events. Although fading from cultural memory, Kickstarter was once a key component to the "creator economy," the financial revolution of sorts that saw individuals strike out on their own to form new business models using powerful web tools. It was the golden goose of Web 2, a series of developments to websites that brought together social media and other collaborative efforts.
As Bloomberg notes:
Crowdfunding has long been a potential use case for crypto. As my colleague Will Gottsegen wrote on Monday, there is a developing trend of online groups gathering together, forming DAOs (or decentralized autonomous organizations), and buying random things online.
This was typified by ConstitutionDAO, a group that raised over $40 million to buy one of the original prints of the U.S. Constitution. All this could have happened with the tools, like Kickstarter, we have today. And perhaps Kickstarter would have saved people on ETH gas fees or made it simpler to return the funds – after the DAO failed to acquire the Constitution.
But crypto adds a radical new element in that these free software projects are designed for anyone to use, basically without restriction, and, more importantly, are uncensorable. Kickstarter as an entity will not let you donate to a North Korean startup, no matter how benign the project. With ethereum or bitcoin, it's completely your call – so long as you're willing to pay the fees (and comfortable evading sanctions).
It remains to be seen whether Kickstarter will retain some control over their new chain. Or if this works out for them. Others have noted that the promise of Web 3 seems like more hype than substance. There are many curious onlookers that just want to see a functioning project. (ConstitutionDAO, for one, could be seen as a positive development or a demonstration of the hype – but it definitely brought attention to the industry.)
It also remains to be seen how other legacy companies – even former "disruptors" like Kickstarter – adapt to this new internet landscape. It's easy to mint a few NFTs, harder to reinvent your business. But if Kickstarter is a signal above the noise – then we might expect a lot more Web 3 developments down the pike.
Sponsored Content
BVNK: How Companies Are Exploring Alternatives to Buying and Holding Crypto
Publicly traded companies, large privately held companies and even national governments are stealing the crypto headlines nowadays thanks to their investment in crypto treasuries. MicroStrategy CEO Michael Saylor is the ultimate evangelist for the idea. His company holds over 121,000 of the 21 million bitcoins that will ever exist.
That said, substituting cash reserves with bitcoin or ethereum isn't the only way for companies to get exposure to the crypto world. Plenty of alternatives exist for gaining exposure to this asset class: decentralized finance platforms, investment in non-fungible token (NFT) artwork and even deep dives right into the metaverse.
The Chaser... 
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