TLDR Index
TLDR Crypto

TLDR CRYPTO 2023-08-31

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01MARKETS & BUSINESS

BINANCE JAPAN PLANS TO TRIPLE NUMBER OF LISTED TOKENS TO 100

Binance Japan announced plans to substantially increase its token offerings from 34 to about 100 in the near future. In conjunction with this, the international exchange aims to collaborate with other local exchanges to boost liquidity on traded assets. This rollout follows its recent acquisition of Sakura Exchange BitCoin, which precipitated Binance’s re-entry into the Japanese market after regulatory issues with its own entity in 2021.

theblock.co1 min read

COURT SIDES WITH UNISWAP OVER CLASS ACTION SUIT

A lawsuit against Uniswap accusing it of "rampant fraud" was dismissed yesterday, signifying a big win for the decentralized exchange and DeFi as a whole. Judge Katherine Polk Failla argued that despite plaintiffs' losses, due to Uniswap's decentralized nature, there was no identifiable defendant. The claim also accused Uniswap of selling unregistered securities. However, the judge stated that a definitive determination on whether certain crypto assets are commodities or securities has not been established. The judge's ruling emphasized that concerns about federal securities laws should be directed to Congress, not the court.

blockworks.co2 min read

02INNOVATION & LAUNCHES

OPENSEA UNVEILS STANDARDS FOR REDEEMABLE NFTS

OpenSea is developing a standard for redeemable NFTs and has launched four proposals for improvement. The company’s self-serve tool gives creators an option to add redeemability to their NFTs. Other features include trait redemption and offering off-chain redeemable NFTs. Although trading hasn't started, OpenSea provided a free redeemable NFT prototype for users to try until year-end.

thedefiant.io1 min read

OPENZEPPELIN LAUNCHES 2.0 VERSION OF SECURITY PLATFORM DEFENDER

OpenZeppelin has launched Defender version 2.0, an upgraded security platform for blockchain developers. The system helps developers monitor smart contracts, manage upgrades, and automate scripts for these projects. The new version includes a machine learning tool to detect potential vulnerabilities and an auditing module to track and correct them. Despite being in beta, Defender 2.0 is fully operational with the aim of becoming the "standard for security" in the crypto sector.

decrypt.co3 min read

03GUIDES & TUTORIALS

REQUEST FOR BUILDERS: STARTUPS BRIAN ARMSTRONG WOULD BUILD TODAY

Coinbase CEO Brian Armstrong has proposed ten ideas that he believes entrepreneurs in the crypto space should be working on. The ideas include flatcoins, on-chain reputation and advertisements, an on-chain capital formation process, a marketplace for crypto-related tasks, privacy for layer-2 solutions, an on-chain peer-to-peer exchange, on-chain games, tokenization of real-world assets, and software for managing network states. Coinbase Ventures plans to host a summit in LA to discuss these ideas and support startups or teams pursuing them.

coinbase.com8 min read

AN INTUITIVE DERIVATION OF THE PERENNIAL MECHANISM

This article discusses the complexities of integrating derivatives, specifically perpetual futures, into DeFi applications. As a potential solution to this problem, a synthetic derivatives protocol, which uses Compound's lend-borrow mechanism as a foundation, is proposed. This alternative attempts to resolve issues that have hindered previous efforts, particularly the challenge of the two-oracle requirement, by using a single oracle for the underlying asset. Despite its advantages, there are risks associated with this mechanism, particularly on the maker side, which need to be addressed.

medium.com4 min read

04MISCELLANEOUS

SEC CHAIR GARY GENSLER'S COURT LOSSES ARE PILING UP IN CRYPTO

The SEC has experienced a myriad of setbacks in its crypto-related enforcement actions recently. It suffered a defeat in court over Grayscale's bitcoin trust conversion and lost a lawsuit against Ripple concerning its XRP token. These losses have exposed potential weaknesses in the SEC's arguments against crypto as a whole. Upcoming cases against big crypto exchanges Binance and Coinbase offer further challenges for the agency to overcome.

axios.com2 min read

THE ‘FIDELITY MAFIA’ BEHIND BIG CRYPTO

This in-depth article from WSJ explains how Fidelity Investments, having entered the crypto scene in 2014, has become a major talent source for the digital asset industry. Key figures in the crypto world, known informally as the "Fidelity mafia," (a play-off of the notorious “Paypal mafia”) have risen to prominence in the industry. Despite facing criticism and regulatory scrutiny, Fidelity itself has remained committed to digital assets, offering bitcoin trading to a majority of its 43 million customers and applying to be one of the first spot Bitcoin ETF providers.

archive.ph6 min read