Parse notes
Gemini has expressed opposition to Genesis' bankruptcy recovery plan, calling it misleading. Genesis, along with parent company DCG, proposed the remuneration deal, but Gemini is arguing that creditors, including Gemini Earn users, will be wildly under-compensated under DCG and Genesis’ jointly proposed plan. DCG reportedly owes over $1.65 billion to Genesis, which in turn owes about $1.2 billion to Gemini.
Crypto exchange JPEX is in a liquidity crisis, with operations frozen and withdrawal fees marked up. The company is blaming third-party market makers for maliciously freezing its funds. Amidst all of these issues, Hong Kong's regulators have warned JPEX about misleading statements concerning claims about its licenses and partnerships, as well as unusually high returns for interest-bearing products.
Crypto company Layer N has obtained $5 million in seed funding from prominent investors. Layer N, an L2 built on top of Ethereum, aims to boost transaction capacity and speed to create experiences more similar to traditional financial markets. The founders intend to attract crypto traders and decentralized exchanges. Layer N also has ambitions to enable centralized exchanges to create decentralized offerings. One of the most interesting aspects of this raise is that Peter Thiel’s Founders Fund was in on the round.
BNB Chain’s L2, built on the OP stack, has gone live on mainnet, giving the BNB ecosystem an EVM-compatible L2. This move allows for substantial gas fee reductions, supporting broad accessibility to the BNB ecosystem. The network will offer monetary and non-monetary aid to developers, alongside extensive learning resources and technical support, aiming to nurture and engage the developer community.
This blog post compares building smart contracts to building aircraft - asserting that both should be built with the assumption of failure and have safety nets in place. The post suggests analyzing potential faults in the design phase and implementing precautions. Additionally, it underscores the importance of utilizing existing technologies instead of creating new ones and promoting iterative testing methods for different components of a project.
This is a comprehensive security guide providing several strategies for storing private keys securely. The guide emphasizes the use of different types of wallets such as cold hardware wallets, operational wallets, and even brain wallets. It also highlights the necessity for reliable VPNs and notes specific steps for EVM-based blockchains. The author cautions against using online key generation services and proposes yearly audits of keys, among other measures. They conclude by emphasizing the importance of a solid understanding of threat models and adversaries in maintaining good operational security.
NounsDAO has successfully executed its first-ever fork. Unlike previous well-known forks, NounsDAO holders had to choose which fork their tokens would be in, instead of maintaining a balance in both. Both forks retain equal public domain rights to the project's artwork. The new governance system underscores the broader potential of DAOs and how forks can encourage faster innovation.
This article explores the concept of blockspace as a digital commodity. It analyzes the properties of blockspace, including security and decentralization. The article notes differences among varying types of blockspace and the importance of their availability and flexibility. It delves into the roles of producers and consumers, market valuation, and trading opportunities related to blockspace.
SBF's leaked writings reveal his perspectives following his crypto empire's collapse. In these writings, he continues to deny responsibility for the $8 billion loss, blaming others, including his ex-girlfriend, while seemingly regretting only his tarnished public image.
In 104 days, Lazarus Group has stolen nearly $240 million across multiple platforms, shifting its focus back to centralized services due to increased security in decentralized systems.
Experts are warning against CBDCs, citing potential government control and limited economic benefits. These experts suggest alternatives and public-private partnerships with constitutional protections.
Nic Carter gave a talk at Token2049 on the past, present, and future use cases and applications of stablecoins. These slides summarize the talk.