Syz the moment

The Financial Accounting Standards Board (FASB) is gathering feedback on long-awaited proposed changes to how companies report crypto holdings. According to the FASB, the existing accounting treatment of crypto as indefinite-lived intangible assets fails to offer investors informative data for decision-making purposes. As a result, companies must evaluate the worth of their crypto on an annual basis and make a downward adjustment if the value falls below the purchase price — commonly reported as impairment charges, such as the ones posted by Tesla and MicroStrategy. Source: blockworks

The number of Bitcoin BTC wallet addresses holding one whole BTC or more has surpassed the one million mark. The one million wholecoiner milestone was reached on May 13, according to data from Glassnode. In total, a whopping 190,000 or so “wholecoiners” were added from early February 2022 as the price of Bitcoin fell from its November 2021 highs. Source: Coin Telegraph

The global asset landscape (as of 1/1/2023) by JESSE MYERS

Asleep for ages, more sats wake from years of slumber. Bitcoin bought in 2011 came back to life on Thursday, when 139 Bitcoin belonging to address 1H1Ab6 moved into a newly created Segwit address. The owner—who hodled for nearly twelve years–bought the coins in June 2011 for a bit over $2,250 dollars, only to see them grow into a staggering $3.5 million at bitcoin’s current price mark. These coins belong to what’s known as Ancient Supply, which refers to Bitcoin purchased at least 7 years ago, although some analysts use 5 years as their base date. So far this year, over 3,000 BTC from Ancient Supply has returned to life. Source: Decrypt

Source: Coinbeast

Congestion on the Bitcoin network in recent weeks has been driven by the minting and transfer of BRC-20 tokens. Transaction fees on Ethereum over the last four weeks are currently 0.84 standard deviations above the preceding 12m average, whereas transaction fees on Bitcoin are 10.49 standard deviations above the average. That fee discrepancy on a normalized basis could be contributing to the modest BTC outperformance over ETH in recent weeks. Source: Coinbase Research

Marathon Digital announced on Wednesday that it has received a recent subpoena from the Securities & Exchange Commission (SEC), which is linked to an ongoing investigation into the company's data center located in Montana. The investigation focuses on possible breaches of securities laws. This new subpoena comes after Marathon Digital and a few of its executives were issued a related subpoena earlier in the quarter ending on September 30, 2021. The previous subpoena required them to produce records and communications pertaining to the facility located in Hardin, Montana. Source: Blockworks

While Bitcoin's $BTC correlation with the S&P 500 has been declining over the last year, it has been rising with Gold over the same period. Source: CNBC, Cryptoquant, Barchart