SBF released with 250M bail, Brazil legalizes crypto payments and stablecoins settled more than 7 trillion in value.

December 23, 2022

Crypto Market Update 23-12-2022

Hello everyone and welcome back to our weekly recap this time with a special feeling given tomorrow is Christmas Eve 🎄

So our curious fact is also about this magical time: Did you know 'Jingle Bells' was the first song played in space? 🎼🌌 On the 16 December 1965, the song made history by becoming the first to be played in space during NASA’s flight. Christmas carols are magic throughout the universe 🙂

Now to business 💼 💵

🔴 SBF arrested and released on 250 million bail.

In a never ending story, a new chapter: SBF, former FTX CEO and  ex-beloved crypto-space personality, was released by New York Court under a bail of 250 million (more info) , the biggest ever imposed and which suggests serious concerns for him. For comparison, Bernie Madoff was released on $10 million bail in 2008 before being sentenced to 150 years in prison for running a massive Ponzi scheme, so you can imagine what SBF can expect if convicted. 🚔

🟡 Brazil Legalizes Crypto Payments.

In an expected move, the President of Brazil Jair Bolsonaro signed a bill making Bitcoin and other crypto assets a legal (more info) and regulated payment option in the country - and this move, as expert says, "sets the stage for greater bitcoin adoption." 🙂

🟢 Stablecoins have settled more than $7 trillion in value in 2022.

The total value settled with stablecoins this year surpassed the settlement value at Mastercard, which processed around $2.2 trillion in value in 2022, showing that the adoption of this form of transaction is stronger than ever. Nigeria, Turkey and Thailand are the countries in which the highest percentage of the population used this method, with the report showing greater overall adoption in developing countries (more info). 🚀

Adoption signs, as always, are the best gift we can bring to the community and this is also Lympid's exclusive focus, to boost the worldwide adoption of this technology 🧑‍💻

We end with a Merry Christmas wish for everyone who celebrates this season and, as for the others, also an excellent weekend 🎄 💥

Take care you all, we’ll talk again next week 👋


Great job on learning something new today 🎉