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Capital formation incentives in crypto are heavily influenced by existing market dynamics, with pressure to conform to established norms affecting both new teams and investors. Despite the shift away from ICOs, retail investors have been disadvantaged, leading to distorted market structures and challenges for startups trying to break the mold.
The trend of companies staying private longer reflects a shift similar to what happened with VC and IPO markets, where significant gains are captured by private equity, sidelining retail investors from early profits. In crypto, a similar pattern has emerged with key L1 and L2s raising substantial funds from VCsl, excluding retail investors from early, lucrative investing opportunities.
Hayden Adams, the founder of Uniswap, says that token distributions should be ethical and transparent and discourages the use of ambiguous or manipulative tactics (e.g., points).
A 26-year-old man has been arrested in connection with a large-scale scam involving the alleged gambling platform ZKasino, which attracted over 30 million US dollars in crypto investments.
Airdrops started as a way to decentralize a community and incentivize their participation in the DAO or network.
BlackRock's Ethereum-based money market fund has reached an AUM of approximately $400 million.
Idin Dalpour was arrested for allegedly orchestrating a $43 million Ponzi scheme, falsely promising high returns from his hospitality and crypto trading businesses but using investor funds to cover personal expenses. The FBI indictment detailed Dalpour's misuse of funds, including $1.7 million for gambling debts, and charges of wire fraud. This could lead to up to 20 years in prison.
Block reported first-quarter revenues of $5.97 billion and an adjusted profit of 85 cents per share, surpassing expectations. It announced plans to allocate 10% of gross profit from bitcoin transactions into bitcoin each month and is open-sourcing its "crypto treasury blueprint" to help other companies manage its crypto assets.
Privy is launching a new cloud-based recovery system that enables users to secure their embedded wallet recovery shares on Google Drive. This should improve the user experience by offering a simpler, more secure method of wallet recovery without the need to remember passwords.
Royco enables efficient liquidity coordination for crypto, which today is inexact and done through airdrops, liquidity mining, and other un-optimized methods. Royco's Liquidity Coordinator allows programmability and order books to create liquidity negotiation, allowing providers to know exactly what they will get in return. Since every position is tokenized, users can sell or exchange positions, providing flexibility for locked assets.
Solana influencer and CEO of Helius Labs, Mert, has curated a list of high-quality articles about Solana. The list provides a comprehensive overview of Solana's history, investor theses, tech deep dives, and programming.
Blast points are earned passively through liquidity provision or holding certain tokens. Blast Gold, which may be worth $10 to $60 each, is farmed by actively interacting with protocols or games. This thread lays out three strategies for various capital and time commitment levels to maximize airdrop distribution.
Though the data availability cost has been alleviated through Ethereum's blobs and special-purpose protocols like Celestia, inefficient computation and state access remain bottlenecks. There are multiple paths to improving execution performance, including parallelization, state expiry or statelessness, and sharding. Each L1 and L2's decisions about these improvements will impact the design of their execution layer, the value proposition of blockspace, and the competitive moat of its chain.
Solana's revival after the FTX collapse and bear market has solidified its spot as the third major crypto asset behind BTC and ETH. Its recent run began in Q3 2023, when Jito and Pyth started the modern airdrop wave, driving the ecosystem to new highs in various metrics, supported by an explosion in memecoins. Its network effects and performance are expected to grow further and host the next “big thing in crypto.” Though the network is congested, development is actively solving this problem, and the Firedancer validator client by Jump Crypto should drastically improve Solana's throughput.
Paragraph will take ownership of Mirror and progress towards a shared commitment to enhance the monetization and distribution model for a wider range of creators.
Anthony Scaramucci's son's investment fund, SALT, led a $1.4 million strategic funding round for Hinkal, a zero-knowledge protocol valued at $70 million, which enables confidential on-chain trading for institutional investors.
The Eigen Foundation is allocating an additional 100 EIGEN tokens, worth about $1,000, to over 280,000 users to improve the accessibility of the token to early adopters and address community concerns about the distribution model of its airdrop.
Starting in July, Otherside monthly events will feature low-latency, action-packed gameplay for over 3,000 players, including weapons and mayhem, with a unique project codenamed Project Dragon.
A report by VanEck reveals that approximately $175 billion worth of bitcoin is held by ETFs, nations, and both public and private companies, which makes up about 15% of the total Bitcoin supply. This holding demonstrates increasing institutional interest and acceptance of bitcoin as a viable store of value, with more involvement from hedge funds, asset managers, and endowments.
Block, the parent company of Square and Cash App, is under investigation over alleged sanctions, violations, and other regulatory issues. Whistleblowers complained that the company processed transactions linked to sanctioned countries and terrorist organizations, with thousands of suspicious transactions going unreported. Block states that it did not intentionally or knowingly violate sanctions.
Redstone is an OP Stack Layer 2 and part of the Optimism Superchain ecosystem that just went live. It was created by Lattice, the company behind the MUD framework for building complex onchain apps centered primarily around gaming and autonomous worlds. Over the next few months, Redstone, which was made to realize MUD's potential, will deploy several games, including onchain Minecraft, a multiplayer real-time strategy game, a sci-fi horror, and the traditional suite of DeFi products.
Aave V4 introduces the Unified Liquidity Layer, which allows for a more flexible approach to managing liquidity that builds upon a base layer while allowing modification at the module layer. It adjusts interest rates and liquidity premiums based on market conditions and collateral risk to provide fairer pricing for lenders and borrowers. The ultimate goal is to create a chain-agnostic liquidity protocol facilitating cross-chain liquidity and an expansion of its GHO stablecoin. Aave is also rebranding with a new logo and design.
Seasonality has a statistically significant impact on returns in both traditional and crypto markets. Over the past five years, buying BTC in October and selling in April netted 1,449%, while buying in May and selling in September led to -29%. Retail and institutional sentiment is waning this May, as evidenced by trading volume, volatility, and ETF outflows. Macroeconomic conditions are also driving liquidity away from all markets, which the Treasury could solve by injecting up to $1.4 trillion of liquidity into risk assets.
Uniswap Labs has introduced a new methodology for evaluating price improvements when using Order Flow Auctions (OFAs) and Automated Market Makers (AMMs). It focuses on factors like liquidity access, gas optimization, and priority fee settings. Uniswap Labs' initial findings suggest that the Uniswap interface, when compared to other major interfaces like 1inch, often provides better pricing for users, especially in larger trades.
Value transfers from the impatient to the patient. Avoid opening positions that represent less than 1% of your portfolio - focus instead on higher-conviction allocations. Keep your lifestyle insulated from the volatile movements of the market with alternative cash flow streams. Remain focused on your individual investment goals, not others', and do not act with extreme fear or greed.
The average ROI of 18 recent airdrops was about 15%, with 5.88% of the token supply allocated to the drop. Jito and Juptier were the most fair with 10% of the supply dedicated to the initial airdrop. Celestia had the best ROI at over 300%, and PARCL had the worst at -60%. EtherFi's post-drop sentiment was the highest in recent history, with many others drawing criticism for their small allocations or tokenomics.
Vitalik Buterin advises on crypto security by suggesting that folks decentralize their security setup. Instead of using a cold wallet, he relies on a multisig Safe wallet for 90% of his crypto assets, with multiple trusted signatories and undisclosed identities to enhance security.
Tether had a record profit of $4.52 billion for Q1 2024, demonstrating how profitable the stablecoin industry can be.
Rabby Wallet is offering free transactions across various chains, including Ethereum, Avalanche, and most popular ETH L2s.
Early Bitcoiner Roger Ver was charged with mail fraud and tax evasion related to his relinquishment of US citizenship in 2014.
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According to previously redacted portions of Consensys' lawsuit against the SEC, the agency has internally considered Ethereum a security since early 2023. The SEC began an investigation into Ethereum after its transition to Proof of Stake. Until now, the SEC and Chairman Gensler have refused to answer questions about Ethereum's status, and the head of the CFTC has already declared Ethereum a commodity.
The Australian Securities Exchange is expected to approve spot Bitcoin ETFs before the end of 2024. Two asset managers have already applied for spot Bitcoin ETFs and VanEck Australia plans to prepare an application. Another asset manager previously applied on the rival Cboe Exchange.
The Eigen Foundation, an independent entity set up to grow the EigenLayer ecosystem, will distribute 5% of the supply to stakers in Season 1, with two more seasons distributing 5% each. Season 1 will have two phases – the first, out May 10th, is for general restakers, while the second is for complex LRT and DeFi participants. Upon claiming, the token cannot be transferred. No specific date has been announced for the transfer.
The Moonbirds NFT collection has announced a new creative direction with commercial rights, starting with the pivot from CC0 to requiring creators to own Moonbirds. 3D avatars and a digital space for Moonbirds are being created alongside physical representations of the IP, which will likely be similar to the Pudgy Penguins plushies.
Lazarus Group, a North Korean-associated hacker group previously responsible for the 2014 Sony Pictures Hacks, is responsible for numerous hacks in the crypto space worth over $3 billion. By analyzing on-chain data, ZachXBT found that the group uses mixing services like Tornado Cash and Chip Mixer, decentralized exchanges, and P2P marketplaces to launder funds. This article details 25 hacks, each with an incident summary, theft addresses, and transaction information.
This thread offers a comprehensive guide for aspiring Solidity developers that encourages thorough study of past exploits and successful protocols. It provides practical advice such as writing and testing various smart contracts and utilizing resources like Remix for debugging, and recommends educational channels and platforms for further learning.
Retail investors are now more aware of token unlocks in the crypto market, which may influence investment decisions. Approximately $200-300 billion of potential sell pressure from these unlocks could impact the market, leading to a shift in focus towards coins with no unlocks or those past their unlock schedules.
The Department of Justice has recently charged non-custodial wallet developers with unlicensed money transmission, marking a significant departure from the established U.S. policy since 2013 that deemed that wallet developers and users are not money transmitters. This shift to enforcement against wallet developers is seen as a threat to due process.
A former crypto investor details the top crypto accelerator programs.
Tether, the popular stablecoin issuer, has reportedly invested $200 million in BlackRock Neurotech, a startup focused on brain-computer interface technology.
Stripe has integrated with Avalanche's Core wallet to simplify onramping funds and buying digital assets for users while also supporting Avalanche's partners (video game platforms) by handling all KYC and compliance.
EigenLayer expands ETH to be a universal objective work token, leaving EIGEN to handle intersubjective faults that cannot be objectively attributed onchain but can be reasonably determined by humans.
Beribit clients have occupied the Russian crypto exchange's offices, demanding their funds amidst a financial discrepancy audit. Russian Duma is considering a bill that would ban crypto exchanges but allow transactions and mining by registered firms. This legislative move is being challenged as it could potentially affect national security interests due to cryptocurrencies' role in bypassing sanctions.
Franklin Templeton has listed its Ether ETF on the DTCC, signaling its readiness for trading. However, this does not mean the SEC has approved it, given the official decision has been delayed until June 11.
Steel is an Alloy-based proof library that, alongside RISC Zero's ZK Coprocessor, has access to Ethereum's entire state for viewing. It allows for complex contract execution for a fraction of the fees with trustless off-chain execution. The library is valuable for applications that need to access Ethereum's state in a trustless manner with only a few lines of code.
The Bored Ape Yacht Club NFT collection floor price is at 10 ETH – down 92% from its April 2022 all-time high. There were numerous reasons for the decline, including interest in other collections, the NFT market downturn, and a lack of cohesive strategy from creator Yuga Labs. Going forward, the launch of the Otherside metaverse, the return of Yuga's co-founder as the CEO, and the consolidation of Yuga's IP could revitalize the project.
Heroglyphs is a new token protocol on Ethereum that only allows validators to mint tokens. This not only incentivizes decentralization, but also creates an aura of prestige around each token due to the commitment required to create one. Like Runes or Ordinals, Heroglyphs are created by inscribing data into a block, with minting rewards shared equally between all validators. Rights to mint and manage tokens can only be leased using a Herberger tax model, meaning anyone can pay more and take the ticker.
Despite claims that Solana's growth has peaked, data shows increased usage, particularly marked by a surge in priority fee usage (some of which comes from bots), stablecoin transactions that outpace other blockchains, and an average monthly DEX volume that is 18 times higher than previous years. Similarly, Solana's Total Value Locked (TVL) has risen from $210 million to $4 billion.
Offchain Labs, the company behind the Arbitrum L2, found two severe vulnerabilities in Optimism's fraud-proof system. The exploits, which have now been patched, allowed for fraudulent chain history to be accepted. Fortunately, the vulnerabilities were only on testnet and funds were never at risk.