Do Kwon Gets 15 Years for the Terra Collapse
A landmark sentence follows years of fallout.
Before we get into the news, a few church announcements.
Craig Cobb has a free trading webinar. The link is in the show notes. The paid course link is gone. The webinar is free. Click it and check it out.
Also, your host here has a political Substack called The Angry Democrat.
Yes, that is me. Yes, I am very angry.
You can find it at
or through the Substack links in the show notes.
All right. Let us get into it.
LISTENER FEEDBACK AND SPOTIFY WRAPPED FALLOUT
After sharing our Spotify Wrapped data yesterday, a lot of you wrote in.
RumbleBelly said he is an Angry Democrat himself and will be checking out the Substack. He also asked if I plan to turn that project into a podcast. I am thinking about it. No promises yet, but it is on the table.
He also clarified that he is the one EDM listener and absolutely not the guy listening to Drake.
Joeren, my Porsche buddy from Belgium, suggested that if he puts in twenty five dollars and I put in $430k, together we could buy a GT3 RS. Deals!
Paul Shiny said he is one of the twenty thousand plus listeners who had Daily Crypto News as their top podcast. He also suggested these numbers should be shown to advertisers. Noted.
And once again, it is still hilarious to me that multiple people denied listening to Drake, but nobody denied listening to Taylor Swift.
Obsidian Enoch wrote in with a great point about the teachers union pushing back on crypto legislation. His takeaway was that this is not about crypto itself, but about a restructuring of incentives and power.
That is exactly right.
When institutions resist crypto, they are resisting transparency, decentralization, and the loss of control. That is the real tension.
COINBASE TO LAUNCH PREDICTION MARKETS AND TOKENIZED EQUITIES
Coinbase is reportedly launching prediction markets alongside its own suite of tokenized equities as soon as next week.
Bloomberg reported this citing a person familiar with the plan, which is basically modern journalism now.
The platform will allow users to speculate on future events while also trading blockchain based representations of stocks. The rollout is expected December 17.
What is interesting here is that Coinbase appears to be issuing these internally rather than relying on white label partners. That suggests they want control over distribution, fees, and liquidity.
If this works, Coinbase positions itself at the center of two fast growing on-chain markets at once.
NETFLIX DIRECTOR CONVICTED AFTER LOSING MILLIONS ON CRYPTO
Hollywood director Carl Rinsch has been found guilty of defrauding Netflix out of eleven million dollars.
Rinsch was hired to produce a sci-fi series called Conquest and received fifty five million dollars in funding. He later requested an additional eleven million to finish the show.
Instead, prosecutors say he routed the money through multiple accounts, lost a large portion trading securities, then turned to crypto speculation.
Millions were spent on luxury cars, watches, furniture, and personal expenses.
Netflix canceled the series and wrote off the entire investment.
Honestly, if someone was handed fifty five million dollars and still could not make a show, I am glad it never aired. There is no way that project was going to be good.
NEW YORK PASSES AI DISCLOSURE LAW, SETTING UP FEDERAL CLASH
New York became one of the first states to mandate disclosures when AI generated performers are used in advertising. The law also restricts the use of deceased performers’ digital likenesses without consent.
Governor Kathy Hochul signed the bill alongside SAG and AFTRA, framing it as worker protection.
This immediately sets up conflict with President Trump, who has ordered the DOJ to challenge state AI regulations deemed overly restrictive and has threatened to withhold federal broadband funding.
Here is where it gets complicated.
I believe in state autonomy. States should compete. That is the point of the United States.
But I also believe it becomes impossible to run businesses efficiently when every state creates its own AI rules, health care rules, gun rules, and tech standards.
AI is not like zoning law. It is foundational. If one state restricts it heavily and another does not, you create economic flight and uneven opportunity.
I do not have a clean answer here. But I lean toward unified national standards for technologies that shape competitiveness.
Let me know where you land on this one.
OPENAI RELEASES CHATGPT 5.2
OpenAI released ChatGPT 5.2, positioning it as an enterprise productivity tool rather than a consumer novelty.
The model focuses on professional workflows like spreadsheets, coding, presentations, and multi-step projects. It is already tied to contracts with the U.S. government and Disney.
OpenAI claims the model matches or exceeds human performance in seventy one percent of workplace tasks using its proprietary benchmark.
Yes, proprietary.
Any time I hear proprietary benchmark, my eyes roll. Anyone can invent a metric that makes them look incredible.
That said, enterprise adoption is the real signal here, not the benchmark.
YOUTUBE ADDS PYUSD PAYOUTS FOR CREATORS
YouTube is now allowing U.S. creators to receive earnings in PayPal’s PYUSD stablecoin.
This allows faster settlement and easier international payments while PayPal handles custody and compliance.
Big tech adoption like this signals stablecoins are becoming real payment rails, not just crypto experiments.
PYUSD’s market cap now exceeds three billion dollars.
DO KWON SENTENCED TO 15 YEARS
Do Kwon has been sentenced to fifteen years in prison for fraud related to the forty billion dollar collapse of Terra in 2022.
The judge described the losses as eye-popping and compared Kwon’s influence over investors to that of a cult leader.
I have been warning about algorithmic stablecoins since the Decrypt Daily days.
If you put your money into them, you were always going to lose it.
Goodbye, Do Kwon.
CRYPTO PRICES
Time: 10:01 a.m. Eastern
Fear and Greed Index: 29
RSI: 48
Bitcoin: $92,305 up 3.2%
Ethereum: $3,223 up 2%
XRP: $2.03 up 2.4%
BNB: $891 up 3.4%
Solana: $138 up 6%
TRON: $0.277 down 1.4%
Dogecoin: $0.14 up 2.5%
Cardano: $0.424 up 2.7%
Total market cap: $3.14 trillion up 2.5%
Bitcoin market cap: $1.84 trillion
Ethereum market cap: $389.2 billion
Green across the board. That always helps.
That is the show.
My name is Matt.
I am happy to be here.
It is cold and snowy in Ohio.
Have a great weekend.
Happy HODLing, Everyone.
References & Affiliates
📈 The Grow Me Co: Trading Business Webinar
🎯 Coinbase Expands Into Prediction Markets and Tokenized Stocks
🎬 Hollywood Director Pleads Guilty to Scamming Netflix Out of $11M, Spent on Crypto
🗽 New York Mandates AI Advertising Disclosures, Faces Showdown Over Trump Executive Order
🤖 OpenAI Launches GPT-5.2 as Major Contract Expansion Accelerates
📺 YouTube Lets U.S. Creators Take Earnings in PayPal’s Stablecoin
⚖️ Do Kwon Sentenced to 15 Years in Prison Over $40B Terra Crypto Collapse
Self-Custody Crypto Roth IRA: athenic.xyz
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Disclaimer
This content is not financial, legal, or tax advice. It reflects personal opinions for educational and entertainment purposes only.
I am not a financial advisor or expert, and I do not guarantee any specific outcome.
Always do your own research before making any investment or financial decisions.
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