Parse notes
Bloomberg ETF analyst Eric Balchunas has moved up his over/under date for the ETH ETF launch to July 2nd. He cites the SEC's minimal comments on S-1 applications and its presumed desire to finish work before July 4th.
California Congressman Ro Khanna is hosting a blockchain roundtable for policymakers and innovators in early July. It will include members of the Biden Administration, Congress, and businessman Mark Cuban. This comes after the Biden Administration was reportedly discussing accepting crypto donations through Coinbase Commerce.
Cardano is preparing for the Chang hard fork in June to enter the Voltaire era after a multiyear effort towards decentralization. It will introduce decentralized governance and give token holders control of the $681.9 million treasury. The upgrade will commence once 70% of validators install the new node.
Designing proof of stake exit queues requires proper optimization of security and flexibility with the intent of satisfying time constraints while minimizing disutility from waiting. When stakers have the same time sensitivity, a dynamic capacity first come first serve queue is ideal. When stakers have different time sensitivities, protocols should use a dynamic capacity protocol queue.
In a recent meeting, the Fed acted responsibly by expressing uncertainty about inflation but may have missed the window to stimulate the economy. This author's biggest fear is that month-over-month inflation will start picking back up, raising concerns about the demand for long-dated US bonds. Current conditions do not bode well for parts of the market relying on abundant liquidity, and a liquidity air pocket will persist until there is better inflation data or the Fed capitulates on its inflation target to support the labor market.
Privacy-oriented ZK L2 Aztec created a list of 47 use cases and 75 examples of how blockchain and ZK can solve real-world problems. The list includes programmable identity, combining datasets for research without disclosure, and private smart homes. More fun, out-of-the-box examples include planetary defense, which would coordinate cross-government systems without revealing sensitive information, and AI targeting that proves an object was targeted correctly without revealing how.
Binance founder CZ holds 64% of the total BNB supply, bringing his net worth to $61 billion. This makes him the richest person to go to prison. He is currently serving a four-month sentence for failing to regulate Binance in the US. CZ is the 24th wealthiest person in the world.
As intelligence becomes electricity, money becomes crypto, as it is a provably scarce resource that can bridge between distinct economic actors. Private keys will be the best way to control AI robots and will be based on web3 backends for security. AI is digital abundance, but crypto is digital scarcity and a direct complement.
The next major trend in crypto will likely be catalyzed by user-friendly apps, more intuitive wallets and onramps, and the development of faster, lower-cost blockchain networks.
Onchain ticketing in crypto can revolutionize how artists connect with their fans by creating a transparent and permanent record of who attended early shows.
Michael Egorov, founder of Curve, was recently liquidated for $140 million in CRV tokens.
Adidas has joined Base's Onchain Summer initiative by creating three open-mint NFTs.