Crypto Compass by BitcoinWalletSG #100

Hello Fam,

Institutional interest in Bitcoin as a reserve asset continues to grow, with companies like MicroStrategy setting the trend and shareholder proposals urging giants like Amazon to follow suit. This momentum underscores Bitcoin's role as a hedge against inflation and a long-term store of value.

However, today’s (as of writing) flash crash served as a stark reminder of the volatility inherent in the crypto market. Bitcoin briefly plummeted by over 15% before rebounding, highlighting the need for careful risk management even as adoption accelerates. With institutional moves and market dynamics in focus, the stage is set for significant developments in the crypto space.

Amazon Shareholders Push for Bitcoin Treasury Allocation

Amazon shareholders, led by the National Center for Public Policy Research (NCPPR), have proposed that the e-commerce giant allocate a portion of its reserves to bitcoin (BTC). The proposal cites MicroStrategy’s success in boosting shareholder value through BTC investment, highlighting that a modest allocation—just 5%—could enhance long-term value while mitigating inflation. With bitcoin surging 134% this year and MicroStrategy’s stock outperforming Amazon by over 10x, proponents argue Amazon has a fiduciary duty to consider the cryptocurrency's potential. A similar proposal for Microsoft is set for a shareholder vote on Dec. 10.

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Coinbase Responds to Account Restrictions and Fraud Concerns

Coinbase users reported sudden account restrictions over the weekend, prompting Coinbase Support to address concerns about a surge in fraudulent attempts post-election. The exchange attributed delays to an influx of new and reactivated accounts, leading to a 2-3x rise in fraud. Criticism grew around Coinbase’s stance on VPNs and limited weekend support, with some users arguing it forces a trade-off between security and accessibility. Coinbase assured users their fraud-prevention systems have protected millions in assets and promised swift resolutions for affected accounts.

Tokenized 1999 Charizard Card Heads to Auction on Polygon

A rare first-edition Holographic Charizard Pokémon card, valued at $250,000, is being auctioned via Polygon and Courtyard. The card, graded PSA 10 and securely stored in a Brink’s vault, will be tokenized as an NFT, enabling on-chain ownership and global trading without physical shipping. Polygon Labs CEO Marc Boiron highlighted blockchain’s revolutionary impact on collectibles. Similar cards have fetched up to $400,000, showcasing the increasing synergy between blockchain and traditional collectibles.

Happenings of the week

• Pudgy Penguins flips BAYC as 2nd largest NFT by market cap

• U.K. FCA bans memecoin launcher Pump Fun

• Trump appoints David Sacks as White House Crypto Czar

• US Bitcoin ETFs surpass Satoshi’s holdings with over 1.1M Bitcoin

Stablecoin Market Cap Surges Past $200 Billion Amid DeFi Yield Boom

The stablecoin market cap has reached a record $200 billion, driven by investor interest in high DeFi yields, with rates on platforms like Aave and Compound hitting 10-20%. Coinbase analysts highlighted a sharp increase in stablecoin demand following Donald Trump’s election win, alongside rising total value locked (TVL) in lending protocols at $54 billion. Yield-bearing tokens like Ethena’s sUSDe also saw APYs climb to 24%, reflecting a surge in onchain opportunities.

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