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DN404 FORMALIZED INTO ETHEREUM ERC DRAFT

DN404, a recently created standard to bring liquidity to NFTs, has been formalized into an Ethereum spec titled ERC-7631: Dual Nature Token Pair.

FORMER JUMP TRADING EMPLOYEE TAKES THE STAND IN TERRAFORM LABS TRIAL

Former Jump Trading employee James Hunsaker filed an SEC whistleblower complaint against Jump before UST and Terra’s $40 billion collapse.

SAM BANKMAN-FRIED SENTENCED TO 25 YEARS IN PRISON FOR ORCHESTRATING FTX FRAUD

FTX co-founder Sam Bankman-Fried has been sentenced to 25 years in prison on seven fraud and conspiracy charges related to the collapse of the FTX exchange. He was also fined $11 billion, around the same amount that was lost by the exchange and the Alameda trading firm. The judge recommended he serve his sentence in a medium or low-security federal prison near the Bay Area to facilitate family visitation.

>$1B IN US TREASURY NOTES TOKENIZED ON PUBLIC BLOCKCHAINS

The market for tokenized U.S. government securities has surged since January 2023, surpassing $1 billion. The data reflects a significant uptick in demand and adoption of blockchain technology for traditional financial assets, with tokenized Treasuries offering a modern, blockchain-based approach to trading government bonds.

BLOBSTREAM LIVE ON BASE MAINNET

Blobstream is now live on the Base Mainnet, marking an evolution in onchain development. Developers can now create high-throughput blockspaces, comparable to smart contracts, using Celestia's modular data availability (DA) layer. This innovation removes the need for alternative Layer 1s or centralized DA solutions, allowing for seamless deployment within the same ecosystem. Developed by Succinct Labs, Blobstream acts as a data attestation bridge, ensuring rollup data integrity on Celestia through DA attestations and Merkle proofs and facilitating the scaling of Ethereum's rollup frameworks.

DEGEN LAUNCHING L3 ON BASE

Degen Chain is a pioneering Layer 3 (L3) platform designed for the /degen community. It is built upon Arbitrum Orbit with Base for settlement and AnyTrust for data availability. Degen Chain uses $DEGEN as its native gas token, making it one of the first community tokens to operate with its own L3 infrastructure. This innovation, offering ultra-low-cost transactions and new scalable solutions for the EVM ecosystem, represents a significant step in onchain internet evolution.

ETHEREUM HAS BLOBS. WHERE DO WE GO FROM HERE?

In this post, Vitalik Buterin discusses the success of blobs in bringing Ethereum from a zero-to-one problem to a one-to-N problem. Scaling Ethereum will have incremental progress and will see blobs get bigger and rollups more efficient at using them. Security standards for rollups need to become stricter as only Arbitrum has reached stage 1 of decentralization. While protocol development is decelerating, it is accelerating on the application layer. Buterin concludes by urging developers to build for the Ethereum of the 2020s.

ON WHAT IS DECENTRALIZED

This thread explores the current state of decentralization, emphasizing the contrast between permissionless blockchains like Ethereum and websites like OpenSea. Any website can choose whether or not to display an NFT, but they cannot modify the NFT itself. Most Layer 2s are still fairly centralized and controlled by a few parties. Decentralization will likely improve in the coming years.

ETHEREUM ‘BLOBSCRIPTIONS’ LIFT OFF AND IT’S TAKING BLOB FEES WITH IT

Blobs, the new storage type for Ethereum L2s introduced in the March 13 Dencun upgrade, have been overrun by the inscriptions mania that previously congested several other chains earlier this year. BlobScriptions caused blob gas fees to spike to around $18, though it has since fallen to around $1.20. The fees should return to normal levels as the true value of blobs becomes evident after this price discovery phase.

A BRIEF HISTORY OF MEMECOINS

Memecoins blend internet culture with digital currency. Tracing back to the early days of cryptocurrency, with each cycle introducing new iterations, they gained momentum through early Bitcoin alternatives, ICO crazes, DeFi summer, and meme stocks, evolving to include NFTs which brought visual representation to these tokens. Memecoins, such as Dogecoin and Shiba Inu, have often been regarded as cultural tokens, gaining value from their associated memes and community engagement. Despite their potential for high returns, they carry risks of volatility and regulatory uncertainty.

PRISMA FINANCE SUFFERS $12 MILLION EXPLOIT

The PRISMA token crashed 30% after the exploit - $110 million was withdrawn from the protocol following the news.

SCROLL AIRDROP GUIDE

This thread explains why the Scroll Layer 2 is worth farming and provides an overview of the activities to do and dApps to interact with to potentially become eligible for its eventual airdrop.

WORLDCOIN DATA COLLECTION HALTED

Portugal's data protection authority has ordered Worldcoin to stop collecting biometric data, citing serious risks to citizens' rights.

HOW A PRIVACY PROTOCOL CAN'T WORK WITHOUT NATIVE AA

This thread covers how privacy protocols require native account abstraction (AA) to function effectively, using UTXOs and decryption keys to maintain privacy.

THE SEC CAN SUE COINBASE FOR OFFERING UNREGISTERED SECURITIES, JUDGE RULES

A US District Judge has ruled that the SEC’s securities lawsuit against Coinbase can proceed, despite the firm’s attempt at getting a dismissal. This decision implies that cryptocurrency transactions could fall under the SEC's jurisdiction, despite Coinbase's objections. The judge dismissed claims against Coinbase's Wallet product, stating the SEC has failed to prove that it acts as a 'broker'.

FETCH.AI, OCEAN PROTOCOL, AND SINGULARITYNET UNITE TO CREATE ARTIFICIAL SUPERINTELLIGENCE ALLIANCE

Three major players in the crypto AI space, SingularityNET, Fetch.ai, and Ocean Protocol, have announced a merger to create the ‘Artificial Superintelligence Alliance’, a decentralized AI network. The alliance merges $FET, $OCEAN, and $AGIX tokens into one - $ASI. This groundbreaking move aims to accelerate the path towards Artificial General Intelligence, provide an alternative to Big Tech's AI advancements, and facilitate more ethical AI development and utilization.

INTRODUCING INSTANT, 24/7/365 SUBSCRIPTIONS AND REDEMPTIONS; SHIFTING OUSG FUNDS INTO BLACKROCK’S BUIDL

Ondo is launching instant investment and redemption for its OUSG product, bypassing traditional securities settlement times. An additional form of OUSG, described as rOUSG, will maintain a steady mint/redeem price of $1.00, with yields distributed daily. A conversion tool will also facilitate immediate OUSG and rOUSG conversion. Meanwhile, a significant portion of OUSG's assets will be placed into the BlackRock USD Institutional Digital Liquidity Fund.

OASIS AI: THE FIRST DISTRIBUTED AI INFERENCE PLATFORM

Oasis AI has introduced a distributed AI inference platform enabled by a distinctive browser extension in an attempt to entice a wider user base, irrespective of their technical expertise, to participate in the AI space. The platform facilitates decentralized computing, makes APIs easily accessible, and promotes AI inference at scale. In the upcoming weeks, an extension for providers, an inference platform, and enterprise APIs are expected to be released.

DEPIN - A NEW PARADIGM IN CRYPTO

This article gives an overview of the DePIN space, a new sector in cryptocurrency that pertains to Decentralized Physical Infrastructure Networks. After an initial surge in prices, DePIN projects seem primed for promising future growth. The broad category encompasses both physical and digital resources. Its benefits include resource efficiency, lower barriers to entry, and decentralization. This article highlights several DePIN projects, including Filecoin, Helium, and Shadow.

WHAT HAPPENS TO ALTCOINS AFTER THE BITCOIN HALVING

The Bitcoin halving is usually a positive catalyst for altcoins and this is expected to be the case again this cycle. While the extent to which this happens as it did in prior cycles is uncertain, it is highly unlikely the market will go into an extended cooldown phase after the halving.

THE TOKEN IS THE PRODUCT

Tokenization plays a pivotal role in the distribution strategy for blockchain-based products, often being more significant than the product itself. Founders who focus on attracting attention and liquidity to their tokens can create successful crypto projects and substantial network effects. Examples include Uniswap and the Helium Network, which used tokens to incentivize network participation and subsequently gained great traction because of that.

NEW BLACKROCK TOKENIZED FUND GARNERS $160 MILLION IN DEPOSITS

BlackRock's first tokenized investment fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), has attracted $160 million in inflows within the first week of its launch, boosted by contributions from tokenized real-world asset platform, Ondo Finance. The fund, which invests in U.S. Treasury bills, repurchase agreements, and cash, provides dividends to qualified investors in the form of tokens representing U.S. dollar yield.

BASE LAUNCHES ERC-20 MIGRATION TOOL

The Base Migration Tool allows users to easily migrate ERC20 tokens to the Base network with a user-friendly interface.

TELEGRAM BOT USAGE GROWING

Telegram trading bot volume surged 3x in March to $4.7 billion, with a 1.7x increase in users to 450k, mostly on Solana.

BLAST NFT GAME MUNCHABLES RECOVERS $62 MILLION STOLEN IN EXPLOIT

NFT game Munchables, built on Blast, an Ethereum L2 network, experienced an exploit by a North Korean hacker, losing $62 million in the process. The Blast team was able to recover the stolen funds.

WEALTH MARKET EYEING 3% ALLOCATION TO BITCOIN, SAYS BITWISE CIO

Bitwise CIO Matt Hougan thinks that "3% is the new 1%" for bitcoin allocations among professional investors, due in part to the institutional legitimacy the spot Bitcoin ETFs bestowed upon the asset class.

CRYPTO EXCHANGE KUCOIN VIOLATED ANTI-MONEY LAUNDERING LAWS, U.S. CHARGES

US federal prosecutors have charged crypto exchange KuCoin and its founders with the alleged violation of anti-money laundering laws. The exchange reportedly operated in the US without running an anti-money laundering program or registering with US government entities. It is said to be involved in the money transmission business with over 30 million customers.

CRYPTO GAME ‘MUNCHABLES’ ON BLAST EXPLOITED FOR $63M

Ethereum L2 game Munchables experienced a $62 million exploit as a result of a North Korean developer being hired by the Munchables team. While some are requesting that the Blast team intervene, others are arguing that this should not be done as it goes against the principles of decentralized networks.

SOLANA WELCOMES CIRCLE’S CROSS-CHAIN TRANSFER PROTOCOL

Circle is partnering with Solana to introduce its cross-chain transfer protocol to the ecosystem. Circle’s CCTP enables the secure trading of USDC between various blockchains using a native mint and burn process. This move will enable Solana developers to natively swap USDC tokens from Ethereum and other EVM-compatible ecosystems. Various Solana ecosystem participants will support CCTP right away and more are expected to follow.

BITVM 2: PERMISSIONLESS VERIFICATION ON BITCOIN

BitVM 2 was recently launched and aims to enable any party to verify blockchain operations. In its original format, BitVM's validation process could only be done by previously identified verifiers, a limitation now overcome in BitVM 2. This opens the functionality to any party at runtime, increasing the trust and efficiency of the system. Despite these improvements, the protocol still needs a minimum of one honest operator to function properly.

GUIDE TO THE CRYPTO JOB MARKET

As the crypto landscape has heated up so has the job market. This thread explains how potential candidates can better position themselves by showing proof of their abilities and strategizing their first week to six months on the job. Building a personal brand within the crypto space via engaging with communities and creating impactful content is also crucial to creating opportunities for yourself.

TOKENOMICS: AN APPROACH TO EVALUATING TOKENS

This report offers insights into identifying projects with promising fundamentals. Focusing on key tokenomics elements, it suggests understanding the reasons for a token's existence, their function, and how they generate value for holders. Evaluating demand and supply mechanics, token allocation, liquidity, and mastering analytical tools are also crucial for long-term investment strategies. It is important to not fall for simplistic marketing - consider how token features support protocol growth and create tangible value.

MEMES ARE FROM THE FUTURE. MEV ARE THE ECHOES OF THE PAST

Bitcoin was the first real memecoin, its narrative buoyed by skepticism of central banking and institutional trust erosion. However, the memecoin space has evolved to encompass thousands of other coins, boosted by shifting crypto trends and attention economics. Solana recently illustrated this with its high density of rapidly growing memecoins. However, this has led to challenges with Solana's blockspace allocation, transaction inclusion, and a rise in 'MEV' or Maximum Extractable Value. Bitcoin now looks set to experience its own MEV surge driven by an influx of memecoin-driven activities. This highlights a need for deeper discussion on managing such complexities in the broader non-EVM ecosystem.

HOW TO PROPERLY EXPRESS MARKET VIEWS VIA BETS IN CRYPTO

This thread advises investors on making successful bets in crypto, both in terms of direction and sizing. It emphasizes the importance of understanding the intrinsic risks of each investment, matching wagers to market views, and considering the potential of various crypto assets and underlying infrastructures. The thread cautions against 'index' crypto plays, suggesting they offer limited upside, and instead recommends that investors simply purchase Bitcoin and Ethereum for crypto exposure.

CFTC CALLS ETH A COMMODITY IN KUCOIN COMPLAINT

The CFTC’s complaint against KuCoin for illegal commodity transactions and failing to register refers to both Bitcoin and Ethereum as commodities.

ENTITY FORMATION FRAMES: SPIN UP AN ON-CHAIN LLC

GRAYSCALE LEGAL OFFICER ON ETH ETFS

Despite perceived SEC disengagement, the precedent set by Bitcoin ETF approvals and similar issues suggests Ethereum ETFs should also be approved for consistency and investor access.

THOUGHTS ON INSCRIPTIONS

Inscriptions revolutionize content and data publishing by offering a permanent, accessible platform for content without the need for technical knowledge.

consultation today [4].

LONDON STOCK EXCHANGE WILL START MARKET FOR BITCOIN AND ETHER ETNS MAY 28

The London Stock Exchange is launching Bitcoin and Ether exchange-traded notes at the end of May, available to professional investors only. It will start accepting applications for trades from April 8. The move follows approval from the UK's Financial Conduct Authority for Recognized Investment Exchanges to create listed market segments for ETNs. It is part of wider efforts to position the UK as a crypto-friendly hub.

SEC PLANS TO ASK JUDGE FOR $2 BILLION IN FINES AND PENALTIES FROM RIPPLE LABS

The SEC is seeking $2 billion in penalties from Ripple Labs. This is part of an ongoing conflict where the SEC accused Ripple of selling an unregistered security by raising $1.3 billion from the sale of XRP. Ripple's CEO critiqued the SEC's unjust behavior, citing court decisions in favor of Ripple.

METAPLEX CORE

Metaplex has launched a new standard for NFTs on Solana named Core. Designed to reduce complexity and minting costs, Core enables data to be stored in a single on-chain account. It also introduces a plugin system that allows users to extend Core asset functionality. The launch coincides with the announcement that 50% of all protocol fees will be used to purchase MPLX to decentralize the Metaplex protocol further.

1INTRO: SOLANA’S FIRST LIQUIDITY BOOTSTRAPPING PLATFORM

1intro, Solana’s first Liquidity Bootstrapping Platform, aims to alleviate current problems faced by Solana users, specifically addressing unfair launches, token liquidity issues, and the prevalence of scams. Designed for fair token distribution and price discovery, 1intro plans to evolve into a comprehensive DEX platform, offering trading functionalities and tools with a community-focused strategy. It has introduced features like "Refer and Earn" to boost user engagement.

NIRMAAN'S AI THESIS

This article discusses the evolution and growing complexity of generative pre-trained transformer models. It touches upon how AI development and use are influenced by the regulatory landscape, with examples stretching from cryptographic software to AI-specific executive orders. The piece highlights several steps in AI model creation, from data collection to inference. It also highlights the potential of utilizing crypto and decentralized technology to make AI more user-aligned, verifiable, and privacy-conscious. Despite the progress, AI democratization remains a challenge.

MEMECOINS AS THE NEW GTM STRATEGY

Companies are leveraging memecoins, or tokens associated with internet memes, in their go-to-market strategies. These companies are taking advantage of memecoins' established communities by integrating popular memecoins into new products or projects. Examples include the BONKbot trading bot using the $BONK token and $SHIB incorporating its token into an Ethereum L2 called Shibarium. This approach can tap into the established userbase and liquidity of memecoin communities, providing a potential solution to getting initial momentum in a project.

CRYPTO'S BROKEN MORAL COMPASS

This author discusses what they view as the rise and negative evolution of crypto, expressing concern over the increasing prevalence of scams and harmful communities emerging in the space. They criticize the crypto community for defending these issues, saying the community shows a lack of morality.

AN ACADEMIC PERSPECTIVE ON BITTENSOR AND DECENTRALIZED AI

Bittensor is building a decentralized blockchain-based AI ecosystem through subnet creators, miners, and validators, all rewarded through a native currency, $TAO. Validators, who check AI outputs, seem to receive the biggest rewards, leading to concerns of potential misaligned incentives. Bittensor's services could be sold to external customers to increase use.

BASE TVL DOUBLES IN A MONTH AS PUNDITS TIP MEMECOINS TO DRIVE ADOPTION

Base, Coinbase’s Ethereum L2, has doubled its TVL in the past 25 days to over $2 billion driven partly by increased memecoin activity on the chain.