Which crypto company put up $50 million to influence the US election?

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Blockchain North Newsletter
September 04, 2024

Founder’s Message: Get your news in a minute!

IN TODAY’S NEWSLETTER: Which crypto company put up $50 million to influence the US election?

  • 🚀 FEATURE: Amanda Wick, CEO of the Association for Women in Crypto

  • 🧑‍⚖️ Judgment: Crypto loan must be repaid

  • 🤑 Taxation: DeFi transactions are dispositions

  • 🇺🇸 Influence: Massive election spending spree

  • 👇️ Collapse: L2 competition slashes L1 income

  • 💻️ Framework: Web3 rules boost development

  • 🔔 Reminder: Join Blockchain North’s next episode of Crypto Canadians on X Spaces

  • 👷‍♂️ Jobs alert: How about a job at Shakepay?

  • 📅 Events: Plans for October?

FEATURE: Amanda Wick, CEO of the Association for Women in Crypto

Amanda Wick, CEO of the Association for Women in Crypto, reveals the challenges women face in the crypto industry, from rampant misogyny to underrepresentation. She introduces initiatives like the 'Women in Crypto Speaker Directory' to boost diversity at conferences and highlights that '49% of men in the industry feel unsafe at work.' This discussion offers valuable insights into gender dynamics in tech and the push for more inclusive workplaces.

Canadian court orders $1.2M Bitcoin loan repayment

The Supreme Court of British Columbia has ordered defendant Daniel Tambosso to repay $1.2 million to plaintiff Hung Nguyen, settling a dispute over a loan of 22 BTC Tambosso took from Nguyen in 2021. The judgment underscores that even in the cryptocurrency space, contracts must be honoured, with courts treating digital assets similarly to traditional currencies.

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The CRA recently provided tax guidance for certain DeFi transactions. They’ve deemed that deposits of crypto into liquidity pools and exchanging tokens are considered dispositions. Additionally, rewards from these transactions count as income and must be included in your tax returns.

The crypto industry spent nearly $120 million to influence elections in 2024

This year, the crypto industry has spent more than $119 million to impact U.S. elections and create more favourable political conditions for pro-crypto policies. America’s largest registered crypto exchange, Coinbase, poured more than $50 million into influencing key races and funding pro-crypto political action committees this election cycle.

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Ethereum layer-1 network revenue collapses

Ethereum layer-1 network revenue has plummeted by 99% since March 2024, despite a dramatic increase in monthly users and daily transaction costs on layer 2s. The sharp reduction in Ethereum L2 fees following March’s Dencun upgrade sparked an explosion of competing L2 scaling solutions, sparking a race to the bottom with rival L2s offering the lowest transaction fees possible to customers. The resulting competition has drawn users away from settling directly on the Ethereum base layer. The reduction in fees translates into lowered demand for Ether, leading the supply of ETH to grow steadily since March.

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Qatar brings in crypto rules framework in a sign of Web3 development in the Middle East

Qatar has gone from banning crypto in 2018 to introducing a crypto regulations framework this month. The framework creates a path for companies to obtain licenses as token service providers and will help develop the country’s digital financial economy. The framework also legally recognizes smart contracts, and is intended to “attract both domestic and international players, boosting Qatar’s financial services sector competitiveness”, said Qatar Financial Centre CEO Yousuf Mohamed Al-Jaida.

BLOCKCHAIN NORTH ON-THE-STREET: What’s the worst email she’s ever received from someone looking for a job in crypto?

Give yourself a break to laugh with Ed from Blockchain North:

JOIN US on X SPACES: Thursday, September 5 at Noon

Some experts we’ve already had on the show:

@realJeffreyP
@frasermatthews_
@TanimRasul 
@MorvaRohani
@Regulativity
@sam_drissi
@rime_salmi
@JoshSeerattan
@WomanBlockchain
@fieldagronomy21
@AubreyNesbitt11
@theLTDtoken
@CryptoHero22
@Wonderfi_dean
@Akhparty
@JL_Pellerin
@marclijour
@wright_success
@JArroyoFerrer
@LandonOGardner
@thereadbaran
@rime_salmi
@AdoubleZI

This online event promises fun, authentic, and thought-provoking conversations. Don’t miss out—tune in for insights on the latest industry trends and news!

JOB OPPORTUNITIES: Build the future!

Shakepay—a money app that allows you to pay friends, buy and earn bitcoin, and send money effortlessly—is hiring a Senior Product Manager.

Apply directly.

Decentralized Masters—the #1 Decentralized Finance Education Company—is hiring a Chief Technology Officer (CTO) and Co-Founder.

KPMG Canada—providing Audit, Tax, and Advisory services to many of the public and private business, not-for profit, and public sector organizations in Canada—is hiring a Senior Consultant - Blockchain and Crypto Assets.

WonderFi—providing investors with diversified exposure across the global digital asset ecosystem—is hiring for a DevOps Engineer in Toronto or Vancouver.

The cryptocurrency exchange, Kraken, is hiring a Product Operations role to support our Asset Management (Custody, Asset Listings, Blockchain Data).

Exaion—”pionnier des services numériques responsables de demain”—is looking for a Kubernetes Architect (FR and/or EN) in Montreal. 

Diagram—venture studio that builds companies in Web3, Artificial Intelligence, Fintech, and Climatetech—is hiring an analyst on the Crypto / AI team to help launch new ventures. The position is remote.

Binance—the leading global blockchain ecosystem and cryptocurrency infrastructure provider whose suite of financial products includes the world’s largest digital-asset exchange—is hiring for Project Research and Due Diligence in Vancouver.

Noble—bringing real-world assets into the digital realm, focusing on security and cross-chain functionality—is hiring software + Rust engineers.

Want your job posted here? Get in touch!

CONFERENCES AND EVENTS IN CANADA: 2024

Toronto:

Elevate: October 1-3
Consensus Crypto Conference: May 14-16 (2025)

Montreal:

Nodes Montreal (Chainalysis + KPMG): September 26
Forum Incyber (FIC): October 29-30 👇️ 

Want your event posted here? Get in touch!

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