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Binance CEO Changpeng Zhao has agreed to step down and plead guilty to criminal and civil charges against him and Binance as part of a $4.3 billion settlement, the biggest in US Treasury history. The charges were focused on money laundering and lack of proper compliance. Binance appointed Richard Teng as its new CEO.
Wintermute Asia has completed its first options block trade via the CME. This marks the firm's latest effort to answer greater institutional demand for digital asset exposure. It offers options in bitcoin, ether, and various altcoins. Wintermute’s CEO is working on this as he anticipates that more institutions will increase their exposure to crypto asset classes.
Upshot has launched the world's first ZK AI price oracle for real-time appraisals of over 100 million NFTs, with an average predicted error of 3-10%. While this is an innovative solution, the complex model requires off-chain calculations, necessitating trust in Upshot. To counter this, Modulus created an AI-specialized ZK prover, Remainder, that verifies these calculations, providing blockchain-level security and preventing price manipulation.
Blast, another Ethereum L2 launched by Blur, offers ‘native yield’ for ETH and stablecoins. Participants' balances automatically compound and earn Blast rewards. Blast also enables yield for stablecoins when bridged to protocols like MakerDAO. Early access to its mainnet, expected to launch in February 2024, is now available by invite.
This thread provides steps on how to easily farm the Scroll airdrop. It recommends users bridge at least $100 using Orbiter, swap a minimum of $1,000 volume on Ivy Swap, and complete all farming tasks on the same platform. Users are also encouraged to refer friends to improve their airdrop odds. Not only could users qualify for a Scroll airdrop by following these steps but also for airdrops from Orbiter and Ivy Swap as well.
This thread provides a breakdown of MakerDAO, a leader in the RWA space. It has strong revenue metrics and an impressive TVL, currently standing at $8.3 billion. Apart from governance, its token MKR also acts as a recapitalization resource. There are some promising growth catalysts in the pipeline.
This post from Lyn Alden explores the influence of cryptocurrencies such as Bitcoin and stablecoins on the global financial system, discussing their increased adoption, particularly in developing countries with high inflation. It also takes a look at their potential to disrupt traditional banking and their macroeconomic effects worldwide. Alden views Bitcoin not just as an investment, but as a valuable transportable asset, and flags concerns around the US's declining fiscal situation.
Grayscale reportedly held discussions with the SEC over its application to convert its Grayscale Bitcoin Trust into a bitcoin ETF recently. The talks followed a directive by a D.C. circuit court for the SEC to revisit the firm's application. Grayscale's proposal would see shares of the trust listed on the NYSE under the ticker GBTC.
Aragon DAO's token holders voted to fund a $300,000 lawsuit against its founding team, challenging their decision to dissolve the DAO and redistribute funds.
A massive unauthorized crypto mining rig found was under a Polish court's floor stealing substantial amounts of electricity. The country’s top law enforcement officials are now investigating the rig and IT experts are calculating the costs of the stolen electricity.
This new protocol aims to decentralize AI, preventing consolidation and countering regulatory constraints using distributed networks similar to Bitcoin’s proof-of-work model to ensure fair computational resource costs.
There have been several amendments to the Bitcoin ETF proposals, which suggests a higher likelihood of approval.