TLDR CRYPTO 2023-12-22

MEME COIN MANIA HELPS PUSH SOLANA DEFI VOLUME OVER ETHEREUM FOR FIRST TIME

Solana DEX volumes surpassed Ethereum’s for the first time over the past week due in large part to meme coin activity and strong inflows of capital into the ecosystem. This stat highlights the theme that has gained traction this year of Solana being a legitimate contender with the Ethereum ecosystem, aided by lower gas fees and faster transaction speeds. Despite this growth, Ethereum’s market cap is still over 6 times larger than Solana’s.

PROMETHEUM GETS THE GO-AHEAD FROM FINRA TO OFFER DIGITAL ASSET SECURITIES CLEARING SERVICES

Digital asset firm Prometheum has obtained approval from FINRA to launch digital asset securities clearing and settlement services. The firm plans to offer custodial services to institutional clients, including asset management firms and hedge funds. The approval comes as the SEC continues to battle with industry participants like Coinbase on the topic of registration.

RESTAKED ROLLUPS ON ALTLAYER SUPPORTED BY EIGENLAYER

AltLayer and EigenLayer have proposed a new rollup design called Restaked Rollups to address decentralization, security, and interoperability issues in app-specific rollups. This includes three modular components for decentralized verification, faster commit finality, and decentralized sequencing. These enhancements are set to facilitate the secure, efficient functioning of app-specific rollups while addressing challenges posed by centralized sequencing, slow finality, and verification.

GHOST ADDRESSES

Ghost Addresses are an advancement on the Lightning Network that lets users run their own lightning node without needing a custodial third party or a publicly accessible server to have a wallet address. They enhance user experience and remove the need for trusted intermediaries, combining the clever behavior of Phantom Payments with the convenience of a Lightning Address. This novel innovation offers a simpler way for users to receive transactions directly in their own custody.

UNISWAP V4 IS GOING TO CHANGE EVERYTHING, AND YOU’RE NOT PREPARED

Uniswap v4 could revolutionize DEXs through its new feature known as "hooks", allowing developers to add features and take fees from swaps. The update could transform Uniswap into a universe of DEXs by providing a platform for other developers to build on. As an example, an upcoming DEX, Bunni v2, uses these features to offer shapeshifting liquidity, optimized fee income, and impermanent loss control.

2024 DIGITAL ASSETS OUTLOOK

This report outlines some of the main highlights in the digital asset space in 2023, discussing price activity, the influence of regulators and infrastructure providers, developments in blockchain platforms, and application-driven adoption. Factors such as macroeconomic trends and decreasing volatility in crypto markets have created a solid foundation from which crypto prices have rebounded substantially. The full report also dives into expectations for the year ahead.

YOU CAN NOW PAY YOUR CONTRACTS IN BITCOIN IN ARGENTINA, SAYS MINISTER OF FOREIGN AFFAIRS

As the new president of Argentina, Javier Milei, attempts to combat high inflation rates, he is rolling out a plan to allow legal contracts to be paid in Bitcoin. This move aims to deregulate the economy along with over 300 measures impacting sectors like real estate and mining. The proposition, which promotes currency freedom, may also see cryptocurrencies playing a role in Milei's plans to dollarize the economy.

CRYPTO SCAMMERS ABUSE TWITTER ‘FEATURE’ TO IMPERSONATE HIGH-PROFILE ACCOUNTS

Cryptocurrency scammers are misusing a Twitter feature that allows any account name to be associated with a tweet's ID. This potentially leads users to fraudulent accounts instead of the proposed legitimate account stated in the original URL, making scams look more credible. The method targets primarily crypto-related accounts and has been used to promote fake crypto giveaways, wallet-draining websites, and deceitful Discord channels.

ALL 4 MULTICOIN BLOG POSTS ON SOLANA (1 HOUR READ)

Multicoin is one of the main and earliest investors in Solana and the Solana ecosystem. As such, these blog posts from Multicoin are a treasure trove that provides a full overview of the firm’s thesis on Solana.

COURT FREEZES $1 BILLION OF ASSETS OF THREE ARROWS CAPITAL FOUNDERS

A British Virgin Islands court froze over $1 billion in assets of 3AC founders and associates in an attempt to aid liquidators in recovering creditors' claims exceeding $3 billion.

WORLDCOIN IS NO LONGER OFFERING ORB-VERIFICATION IN INDIA, BRAZIL, AND FRANCE

Worldcoin has halted its Orb-verification service in India, Brazil, and France, surprising many after recent expansions, due to regulatory challenges and ongoing efforts to meet global standards.

VLADIMIR PUTIN'S SIGNATURE BRINGS DIGITAL RUBLE INTO RUSSIA'S TAX CODE

Vladimir Putin has integrated the digital ruble into Russia's tax code, increasing control over digital asset transactions and aiding in circumventing sanctions related to Ukraine.

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