TLDR CRYPTO 2024-03-22

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FTX ESTATE FACES ESTIMATED $3 TO $5 BILLION IN US GOVERNMENT CLAIMS AMID BANKRUPTCY PROCEEDINGS, COURT FILING SHOWS

Bankrupt crypto exchange FTX is reportedly facing claims totaling $3-5 billion from the U.S. government in addition to its customer claims. Payouts to customers, lenders for Alameda Research, administrative expenses, and non-government creditors will be prioritized before governmental or tax claims. The final amount owed for US tax claims will be uncertain until all other claims are settled.

VITALIK BUTERIN TALKS ‘RAINBOW STAKING’ AT ETHTAIPEI TO COMBAT CENTRALIZATION RISKS

Ethereum founder Vitalik Buterin has introduced Rainbow Staking as a solution to the growing centralization concerns around staking. At present, Ethereum requires solo stakers to deposit 32 ETH, leading to individuals delegating their tokens to liquid staking solutions like Lido. Rainbow Staking would counter this by splitting up staking into heavy and light stakes.

PARTICLE NETWORK: THE MODULAR L1 POWERING CHAIN ABSTRACTION

Particle Network is developing an L1 to abstract away other chains and simplify user interactions with various blockchains. Particle Network's new chain aims to unify liquidity and allow gas payments with any token. 900 dApps across 56 chains securing $2B are already utilizing Particle’s Wallet Abstraction services, making streamlined integration into the new L1 infrastructure easier.

YIELD ROUTES: THE FIRST PERMISSIONLESS YIELD-GENERATING BRIDGES

Hyperlane is launching Yield Routes, yield-generating bridges that enable L2-bridged assets to compound yields automatically. The move transforms traditional bridged assets, which are typically unproductive, into productive ones. Yield Routes are constructed on Hyperlane's Warp Routes and are compatible with any ERC-4626 vault, offering passive yield opportunities across any chain. They are open for anyone to deploy and customize, creating the possibility for unique yield opportunities and incentive mechanisms.

NFT PULSE: THE SOURCE FOR CRYPTO NFT DATA

Electric Capital has launched a new NFT dashboard called NFT Pulse to visualize market activity across Bitcoin, Ethereum, Solana, and Polygon at a glance. In addition to simple market-wide activity like user counts and volumes, this dashboard also shows overall market share across chains, a unique way of looking at NFT data that many other dashboards do not show. It also breaks down the revenue generated by each marketplace, another unique dataset that is usually difficult to find.

HALVING HANDBOOK: A PRIMER FOR INSTITUTIONAL INVESTORS

April's Bitcoin halving, a method designed to counter inflation by limiting the supply of new bitcoins, will reduce miners' rewards by half. This guide gives a high-level overview of the event for institutional investors. Historically, Bitcoin has seen price surges after halving events due to a shift in supply-demand dynamics. Gains after halvings have been more muted with each cycle. People should be wary of looking at past cycles to predict what will happen with this halving as there are only a few data points to go off of.

ON TRADING ADDICTION

This post talks about trading addiction in crypto, outlining its symptoms, effects, and ways to manage it. It highlights how unhealthy addiction can lead to compulsive behaviors and emotional trading decisions. Not all addiction is bad. Traders should spend time on research rather than impulsive trades. Slow down, use leverage wisely, and turn the passion for trading into informed decision-making to maintain financial stability.

MEMECOINS BEING USED TO BOOTSTRAP DAPP LIQUIDITY

NORTH KOREAN CRYPTO HACKERS HAVE STOLEN $3B SINCE 2017, SAYS UN SECURITY COUNCIL

The Lazarus Group, infamous hackers from North Korea, were likely responsible for $3 billion in crypto thefts dating back to 2017.

ETHENA & USDE'S 60% APY EXPLAINED

Ethena's USDe, a decentralized, non-fiat, yield-generating stablecoin, offers a real 60% APY, backed by ETH derivatives.

WHAT ARE THE MOST POPULAR BLOCKCHAIN ECOSYSTEMS?

RSIC VS RUNESTONES - A COMPARISON OF TWO BITCOIN ORDINALS PROJECTS

This thread explains the differences between RSIC and Runestones, two Bitcoin-based Ordinals projects that airdropped to early adopters.