TLDR Index
TLDR Crypto

TLDR CRYPTO 2023-09-15

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01MARKETS & BUSINESS

ENTITIES

Genesis, a crypto firm and subsidiary of DCG, is discontinuing its spot and derivatives trading operations. The change will take effect immediately, with existing open derivatives positions being honored until expiry. A spokesperson confirmed that the company no longer offers trading services through any of its business entities. This decision follows a similar move last week, when Genesis Global Trading ended its crypto spot trading operations, citing strategic reasons.

blockworks.co2 min read

DEUTSCHE BANK TO HOLD CRYPTO FOR INSTITUTIONAL CLIENTS

Deutsche Bank has partnered with Swiss crypto company Taurus to offer cryptocurrency and tokenized asset custody services for its institutional clients. Even though the firm hasn’t publicly announced any immediate plans to roll out crypto trading, the move marks Deutsche Bank's entry into crypto custody. The initiative comes with careful considerations around regulation and risk management, ensuring it does not impact the bank's other activities.

archive.ph2 min read

02INNOVATION & LAUNCHES

SUI NETWORK LAUNCHES GOOGLE, TWITCH, AND FACEBOOK LOGINS FOR DAPPS

Sui has streamlined web3 onboarding by introducing a feature that enables users to log into decentralized applications using their Google, Facebook, or Twitch credentials, eliminating the need for an external crypto wallet or seed phrase. This development aims to overcome the common difficulties users encounter when signing up for blockchain services, such as confusing transaction signatures and maintaining seed phrases, ultimately making using crypto more accessible to mainstream users.

cointelegraph.com2 min read

CIRCLE AND GRAB PILOT WEB3 EXPERIENCES IN SINGAPORE

Circle announced that it had teamed up with Grab to trial new web3 services to consumers through the “Grab web3 Wallet.” The wallet enables users to create a blockchain-based wallet, accumulate rewards, and use NFT vouchers. This partnership presents a practical application of the Monetary Authority of Singapore's Project Orchid initiative, allowing the use of the SG Pitstop Pack NFT vouchers at select places during the upcoming F1 Singapore Grand Prix.

circle.com2 min read

03GUIDES & TUTORIALS

COME FOR THE POINTS, STAY FOR THE FRENS

Friend.tech has been gaining steam over the past couple of weeks after a couple of weeks of cooling off. This report breaks down how the decentralized platform permits users to monetize its social media presence and is currently generating more revenue than established protocols like Lido and Aave. The app is built on Base, an Ethereum L2, and recently announced a funding round led by Paradigm. While the initial traction has been impressive, this report suggests that Friend.tech needs to lessen its dependency on speculation and token incentives to have staying power.

tokenterminal.com14 min read

LIQUID STAKING TOKEN DESIGN

This report covers the concept of two-tiered staking for Ethereum. The mechanism separates staked Ethereum into two groups, slashable node operator bonds and non-slashable delegated stake, each earning different rates. The two-tiered system allows for more capital efficiency and removes slashing risk for delegated stakeholders. However, it raises questions about interest rate sensitivity, further centralization, implications of having all Ethereum staked, and possible dynamic setting for interest rates.

notes.ethereum.org11 min read

04MISCELLANEOUS

HOW SAM BANKMAN-FRIED’S ELITE PARENTS ENABLED HIS CRYPTO EMPIRE

Sam Bankman-Fried's parents, Barbara Fried and Joseph Bankman, have had long, distinguished careers in law. Their reputations and connections were considered instrumental to the company's success, raising questions about their roles and involvement in the scheme. Despite charges against their son, including fraud, money laundering, and bribery, prosecutors have not accused Fried or Bankman of wrongdoing.

archive.ph26 min read

CRYPTO FRIENDLINESS WILL LAST

Ethereum co-founder, Vitalik Buterin, has warned crypto projects looking to set up in Hong Kong to first consider the stability of the city's crypto-friendly attitude. Speaking at a summit in Singapore, he highlighted that future regulatory, political, and other uncertainties may change the landscape. Buterin also expressed his admiration for the level of engagement in Asia’s developer communities.

theblock.co2 min read