TLDR CRYPTO 2023-11-29

SEC OPENS PUBLIC COMMENTS ON FRANKLIN TEMPLETON AND HASHDEX SPOT BITCOIN ETFS

The SEC is inviting public commentary on pending ETF applications from Franklin Templeton and Hashdex. This unexpected early request, coming two weeks after the SEC extended the decision deadline, suggests potential approvals in early January. However, swift approval might not necessarily mean immediate launches. The SEC is also seeking feedback on market manipulation susceptibility, liquidity, pricing mechanisms, and other concerns regarding the proposed ETFs.

COINBASE MIGHT BE FORCED TO SHARE YOUR BITCOIN TRADING DATA WITH THE CFTC

Coinbase has reportedly alerted an unspecified number of its users that their account information may be shared with the CFTC following a subpoena linked to another crypto exchange, Bybit. The nature of the data involved has not been disclosed, nor how it relates to Bybit. Some Coinbase users who have not used Bybit claim they were also targeted. Coinbase plans to engage with the CFTC to limit the scope of shared data.

AXIOM V2: ACCESS THE ENTIRE HISTORY OF ETHEREUM FROM YOUR SMART CONTRACT

Axiom has launched V2, an upgrade that allows solidity and JavaScript developers to integrate zero-knowledge computations into smart contracts with ease. Key features include access to all historical Ethereum data, the ability to specify ZK-verified computations in JavaScript, and on-chain result verification without needing ZK-specific contract deployments. The platform has been deployed on the Goerli testnet, with plans for a mainnet launch following security reviews.

INITIA TAPS IN CELESTIA TO SCALE A UNIFIED SYSTEM OF THOUSANDS OF INTERWOVEN ROLLUPS

The Initia Platform has launched, offering a scalable ecosystem of modular chains built on Celestia. Targeting developer issues and user fragmentation, Initia’s platform is designed to streamline the multichain experience by vertically integrating the tech stack, mitigating choice overload, and integrating with the L1. With its unique VM-agnostic optimistic rollup framework, called the OPinit Stack, Initia allows vertically integrated applications to be built in various computational environments while maintaining interoperability and data availability.

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A COMPREHENSIVE REPORT ON THE CRYPTO FUNDRAISING LANDSCAPE

This post provides a report on venture activity in crypto over the past year. DeFi investments have made up 29% of total funds raised, according to the report. Despite turbulent market conditions in 2023, about 641 funding rounds were conducted across 617 projects, garnering a total of $5.58 billion. Seed rounds were the most popular stage with notable firms like a16z, with Paradigm and Jump Crypto being some of the most active investors.

ROLLUPS DA AND EXECUTION

This document presents an investigation into potential bottlenecks in scaling blockchain technologies, specifically focusing on rollups and data availability layers. It provides an in-depth analysis of current providers, transaction numbers, and call data for various L2 solutions. The model presents a key finding that with certain data layers, the bottleneck is not data availability but execution, prompting the authors to call for further experimentation in execution layer rollups.

SPANISH CITIZENS TO DECLARE FOREIGN CRYPTO HOLDINGS BY END OF MARCH 2024

A new law is requiring that residents of Spain holding cryptocurrency on non-domestic platforms must declare these assets by March 31, 2024. However, only individuals with a balance exceeding 50,000 euros must declare their assets. This comes as part of Spain's increased efforts to tax crypto assets.

PANDA POWER: AN ARTHUR HAYES ESSAY

This essay from Arthur Hayes explains how China, pegging its currency to a weakening US dollar, can now create yuan credit without destabilizing its currency or inflation. As such, it may stimulate its economy by averting property development crises. Despite some pessimistic views about China's debt, the country is likely to enter a credit boom that may indirectly benefit Bitcoin and other risk assets.

SHRAPNEL GAME STUDIO FOUNDERS SAY MAJORITY SHAREHOLDER IS STAGING A COUP

Neon Machine, creator of blockchain game Shrapnel, is embroiled in a legal dispute involving an alleged internal coup by investor Cort Javarone, affecting the company's leadership and operations.

ON BUILDING A POSITION IN AN UPTREND

This post provides a guide to building positions in uptrending markets. It suggests traders should start small, stay proactive, avoid panic, and capitalize on -30% sell-offs to gradually increase their positions.

CF BENCHMARKS LAUNCHES STAKING INDEX SERIES FOR INSTITUTIONAL CLIENTS

CF Benchmarks introduced its CF Staking Reward Rate Series, offering institutional clients indices reflecting daily reward rates from specific proof-of-stake protocols.

CUBE.EXCHANGE SQUARES THE CIRCLE OF DECENTRALIZATION

Cube.Exchange released its litepaper and is merging the stability of TradFi with web3 innovation, offering a hybrid trading platform that emphasizes user control and transparency in asset management.