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Arkham announced a $150K bounty for identifying the creator of DJT, leading to a series of events where Martin Shkreli confessed he created DJT along with a group as a pump and dump scheme.
Decentralized social platform Lens Protocol was offered 0.5% of the total ZK supply ($22.4 million) to build in the ZKsync ecosystem.
According to Pantera Capital analysts, Biden's veto of the pro-crypto SAB121 is due to his reluctance to oppose the SEC and Gary Gensler, whom he appointed.
The LayerZero interoperability protocol's airdrop checker is live.
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Over 40 protocols, including StarkNet, ImmutableX, and Aptos, are unlocking a combined $740 of frozen tokens over the next month. The highest unlock is the Gaming L3 XAI, which will unlock $109 million in tokens, followed by Aptos and Arbitrum, which will unlock around $80 million each. Token prices have already begun sliding as investors are concerned about the negative impact of more supply without demand.
The SEC has ended its investigation into Ethereum 2.0, which Consensys believes confirms that ETH sales are not considered securities transactions. This decision comes after a request from Consensys to clarify whether ETH is considered a commodity.
ENA and sUSDe will be available to deposit in the Symbiotic restaking protocol. ENA will eventually provide security for the Ethena Chain. The chain will host apps built with USDe as the primary asset and gas token. Going forward, any user receiving an ENA airdrop must lock at least 50% in a restaking module, as PT-ENA on Pendle, or basic staking.
RiscZero's zkVM is the first production-ready zkVM. It makes zero-knowledge proofs available and cost-effective for any chain. Any Rust program can be proven and verified across chains, allowing for greater cross-chain compatibility. It claims to beat Succinct's SP1 zkVM in both cost and speed on various hardware setups.
This thread highlights the numerous celebrity NFT collections and tokens that ended up dead, rugged, or abandoned. Highlights from the last cycle include Ethereum Max, which was promoted by Kim Kardashian and Floyd Mayweather and is down 99.96% and Mila Kunis' Stoner Cats NFT project, which the SEC charged with being an unregistered securities offering. This cycle has been memecoin-dominated, with tokens from Caitlyn Jenner and Davido down over 90% from their peak.
With 49.2% of the ZK supply remaining for community allocation and 19.9% going to ecosystem incentives, there will likely be high rewards on ZKsync yield farms and LP positions. Other ZK rollups without a token, including Scroll and Linea, are doing relatively linear airdrops that reward users for holding assets on their chains. EigenLayer-adjacent projects like Symbiotic, Karak, and Swell offer exposure to the popular restaking narrative.
Notcoin's founder believes the future of Telegram-based games like Notcoin are sustainable models rather than fleeting successes like clicker games. Notcoin is moving away from its initial airdrop-driven model to more robust systems that facilitate interaction with newer games.
L2 blob fees increased dramatically on Monday, accounting for 21% of batch posting costs to Ethereum (blobs submitted per block exceeded the target). This spike, likely caused by the zkSync airdrop, indicates that blob fee dynamics are important for L2 operators to monitor because they can impact cost and revenue projections.
'cobie' makes a case against giving airdrops to low-value users who ‘farm' protocols.
Mithril is an upcoming Solana node that will verify blocks with lower hardware requirements, promoting decentralization and the principle of “verify, don't trust.”
The recent approval of BTC and ETH ETFs in the US and the integration of stablecoins by major companies like Stripe and PayPal illustrate major advancements in crypto adoption, effectively improving e-commerce experiences and showing a path towards regulatory clarity.
The Hashdex Nasdaq Crypto Index US ETF has filed its 19b-4 to combine exposure to BTC and ETH in the same product.
David Hirsch has departed from his role as the SEC's Head of Crypto Asset and Cyber Unit in the Division of Enforcement. He spent nine years with the agency. Ladan Stewart, who brought cases against Ripple and Coinbase for the SEC, left earlier this year.
The ZK token was released at 3 am on the morning of April 17. 45% of tokens were claimed by over 225,000 addresses within two hours. There was degraded performance on the network immediately after the launch. The token has dropped 20% since launch, a common trend with recent airdrops, and has an FDV of $5 billion.
Coinbase has introduced pre-launch markets, allowing users to trade tokens before their onchain creation and participate in price discovery. Pre-launch markets uses a perpetual derivative model, basing the token price off the exponential moving average of the market's mark prices every four hours. The first token supported will be EIGEN and trading will be open to Coinbase International Exchange and Coinbase Advanced users.
Tether's new stablecoin, aUSDT, is a dollar-denominated token backed by the value of gold. Over-collateralized by onchain gold reserves, aUSDT is the first in a series of Tethered Assets that track the reference of another asset through stabilization mechanisms. Tether has hinted that future assets may be yield-backed.
Understanding Ethereum transactions requires one to read complex logs and traces shown on block explorers like Etherscan. These tools display detailed interactions within a transaction, including functions called, contracts interacted with, and changes made. By mastering these insights, one can analyze data directly related to any smart contract on Ethereum, enhancing transparency and auditability in Dapps.
a16z crypto compiled various resources for learning about DAOs. These include articles and videos about decentralized governance, human behavior, and incentive systems.
The bull case for Celestia sees it as the global place for data availability, with rollups from across Bitcoin, Ethereum, and Solana ecosystems using it for low costs and high security. Users will be running light nodes within their wallets, allowing Celestia to increase its block size to 1GB and support 100k+ rollups. Since Celestia can move faster than Ethereum, it may outpace its DA ability and start having rollups use TIA as its native token, serving use cases like fully onchain games, social networks, and full sovereignty.
Time.fun allows you tokenize and sell your time in minutes by creating a tradable asset on Base where fans can buy, sell, and redeem your time for ETH.
Binance is airdropping 10 million ZK tokens to users who performed transactions but were previously excluded from the $ZK airdrop.
The Blast L2's yield-bearing stablecoin, USDB, is the fifth most traded stablecoin.
Solana will soon introduce new consumer features, ZK compression, a superfast client, and sovereign rollups.
NFT collection Doodles is moving its activity hub, the Stoodio, to Base in July.
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.
Gary Gensler expects spot Ethereum ETFs to be approved and launched in the U.S. this summer. However, he has not explicitly clarified whether the SEC considers Ethereum a security or a commodity.
80% of BlackRock's Bitcoin ETF demand comes from self-directed investors. The company is excited about every asset's eventual tokenization. There are still institutions on the sidelines. This is the first real institutional cycle, with more hedge funds coming next. Bitcoin is the hardest asset for investors to understand. Crypto has a branding problem among institutions. Other panelists shared information on consumer crypto, regulation, and adoption.
The Graph has fully transitioned to a decentralized data layer after completing its "Sunrise initiative", moving from centralized hosting to a distributed network of token-incentivized data indexers. The shift should improve blockchain data organization and accessibility and allow developers to deploy and manage subgraphs effectively across multiple chains without relying on centralized services.
Helio Pay has launched a significant update on Shopify, enabling millions of merchants to use improved crypto commerce features. The update introduces capabilities like accepting various tokens, stablecoin payouts, instant transactions, and promotional integrations for NFT owners.
Investors must embrace volatility and the non-linear nature of investment trajectories to achieve high returns. It is important to recognize that the most profitable moments come when people are panicking about the market and begin to retreat. Taking advantage of these opportunities requires readiness to invest during downturns (e.g., having cash on platform) and understanding that markets are inherently inefficient and not as predictable as many believe.
Fortune 100 companies have increased their onchain projects by 39% year-over-year. 56% of Fortune 500 companies are developing onchain initiatives, and 53% of small businesses are likely to look for crypto-savvy applicants. These metrics emphasize the need for sensible crypto regulation to promote crypto development and adoption in the US.