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This new protocol aims to decentralize AI, preventing consolidation and countering regulatory constraints using distributed networks similar to Bitcoin’s proof-of-work model to ensure fair computational resource costs.
There have been several amendments to the Bitcoin ETF proposals, which suggests a higher likelihood of approval.
The DOJ is reportedly close to finalizing a $4 billion settlement with crypto exchange Binance. The settlement would conclude the department's investigation into the company's alleged involvement in money laundering, bank fraud, and sanctions violations. As part of the deal, Binance must meet conditions including the payment of fines, admission of non-compliance, and setting up a monitoring process for future legal compliance.
Crypto news outlet CoinDesk announced it was being acquired by Bullish, a crypto exchange led by ex-NYSE president Tom Farley. CoinDesk's parent company DCG has been facing financial issues in the wake of the collapse of FTX. CoinDesk will function as an independent subsidiary with its current management. A new editorial committee will be launched, overseen by former Wall Street Journal editor-in-chief Matt Murray.
The $60 billion DeFi market was revolutionized by the UNI V2 protocol, yet it still faces issues linked to volatility and profiteering bots. This piece discusses these issues and proposes a solution, SUClave, which utilizes UNI V4 to afford more profitability to liquidity providers and mitigate the effects of market volatility. The suggested remedy employs an auction mechanism, leading to greater profits for liquidity providers and lower fees for users.
Vega Protocol, a trading-focused blockchain, has introduced perpetual futures markets, a community-led feature where members can vote on the specific assets to be included. Previously, the settlements were limited to USDC or equivalent stablecoins, but now any ERC-20 token can be approved for settlements. The Vega Protocol has had over $850 million in trading volume so far.
This report from Token Terminal provides in-depth information on Ethereum as an investment. It covers the historical context for open protocols, how they compare to the internet, what the business model of Ethereum is, what the tech stack looks like, tokenomics, valuation frameworks, and more.
This post describes how to dive deep into MEV and transactions on ETH. With the help of system-specific tools like cryo and reth, the process is likened to reverse-engineering a puzzle to effectively identify different types of bundles (independent, backrunning, frontrunning, and backrunning) and calculate vital information like ETH tipped, ETH burned, and estimated profit. Moreover, a post-processing pipeline corrects any potential anomalies, thus ensuring the reliability of the data.
The SEC has accused crypto firm Kraken of operating an unregistered securities exchange. The charges are yet another example of the SEC's ongoing crusade to enforce stricter regulations on cryptocurrencies. Kraken has refuted these allegations, maintaining that it does not list securities. The SEC's charges also include accusations of poor record-keeping practices and alleged commingling of the company's and customers' funds.
This article outlines the concept and potential advantages of using "based rollups" on the Ethereum blockchain as an alternative to the current rollup frameworks. Based rollups allow for better scalability and interoperability without relying on third-party middleware or sacrificing Ethereum's core properties. The author highlights the simplicity, improved security, and greater economic alignment of based rollups.
Tether froze $225 million in stablecoins tied to a Southeast Asian human trafficking ring, marking the largest-ever stablecoin freeze unrelated to Tether customers.
Pantera Capital has released a report on whether it expects the approval of Bitcoin ETF applications to be a bullish or bearish event.
Bitcoin's distributed ledger technology, likened to medieval tally sticks in this post, embodies trust and verification principles, offering a secure, transparent ledger system for modern financial transactions.
Fidelity has filed its own application for a spot Ethereum ETF. The move, which the firm says aims to offer safeguards to US investors dealing in the crypto space, comes in the wake of a court ruling criticizing the SEC's inconsistency regarding crypto ETFs. The SEC has so far permitted futures-based products but has rejected spot crypto ETFs.
Jump Trading has amicably parted ways with its crypto project, Wormhole. Several key figures from the project will operate Wormhole independently. This move is in line with Jump Trading's continuing withdrawal from the digital asset space. The exact reason for the separation or the number of employees who left due to it is not yet known.
ZKP2P, the first trustless fiat-to-crypto onramp powered by zero-knowledge proofs, has been launched in alpha. The platform will offer swift, affordable, and permissionless conversions from USD to USDC, with a limit of $250 every six hours. Built on a decentralized front end, it allows any smart contract to take liquidity. Users can opt-in for its proving service but it's not required. Future plans include expanding to more payment services and gasless onboarding.
Fhenix’s newly released whitepaper details a more scalable solution for executing confidential smart contracts known as Fully Homomorphic Encryption (FHE) Rollups. This system, which enhances the efficiency of confidential smart contracts, doesn't require all nodes in a network to execute FHE computations to reach a consensus over the encrypted state, unlike current methods. Fhenix's design adopts an optimistic rollup approach, avoiding the computational penalty caused by current verifiable FHE techniques. This development could enable the most commonly used smart contract ecosystems to be augmented with confidential smart contracts.
The anticipation of a Bitcoin ETF has been driving the mini-bull market over the past few months. An ETF could bring billions into the crypto ecosystem, akin to Gold ETFs which made gold access and storage easy for US customers. The market has been highly sensitive to questions around the timing and likelihood of these approvals going through. This guide breaks down the different relevant dates for each of the current Spot Bitcoin ETF applications under review at the moment.
NFT trading volume has spiked in recent weeks, with most of the activity happening on Blur, likely in anticipation of its upcoming season of airdrops. Research firm Revelo Intel provides an update on Blur and a thesis for its token in this thread. Blur's approach, focusing on professional NFT traders' needs, has led to improved overall NFT market efficiency and liquidity. The next step for Blur in improving token utility might be governance voting with discussions about using platform profits for token buybacks and burns.
Parallel Colony is pioneering a shift in gaming with a gaming experiment powered by AI on-chain. Based on Stanford and Google research, the game uses AI-powered avatars that evolve in a simulated colony using Parallel's native token, PRIME. Notably, these avatars, being NFTs, can function as wallets, accumulating and managing their own game assets. The avatars, created by customizing a large language model, have dynamic life histories affected by AI and human interactions.
The Solana ecosystem has shown real resilience through a brutal bear market, with the price of its token, SOL, 6xing from the lows so far. This comeback has been driven by a surge in developer and institutional interest, despite previous setbacks from a close association with FTX. Key indicators show Solana's resilience, including a significant rise in TVL and an increase in users. However, occasional network outages and potential security issues could be potential roadblocks in its path to challenge Ethereum as the main L1 ecosystem.
This tool can help you check and see if any of your wallets are eligible for the upcoming Pyth and Jupiter airdrops on Solana.
This article provides a good summary of Rachel O'Dwyer's book, Tokens: The Future of Money in the Age of the Platform, which explores the evolution of money, examining the shift from physical cash to digital tokens and the social and economic implications of this transformation.
This post explains how dollar alternatives like USDT and USDC cater to different demographics and markets. USDT tends to dominate in areas with capital controls, while USDC aligns more with institutional needs.
Sam Altman's departure as OpenAI CEO led to a 13% drop in Worldcoin's token value due to uncertainty about his future role at Worldcoin.
A week after its registration showed up on Delaware’s site, BlackRock has officially filed for a spot Ethereum ETF with the SEC. The trust aims to mirror Ethereum's price performance, giving investors easy exposure to the asset in their brokerage accounts. Coinbase will be the trust’s custodian. This comes as BlackRock continues to wait for approval of the Bitcoin Spot ETF it filed in June.
Tether, the firm behind USDT, is investing around $500 million to bring a Bitcoin mining facility online, according to incoming CEO Paolo Ardoino. The ambitious expansion includes the construction of new mining facilities in Uruguay, Paraguay, and El Salvador, aiming to work up to 1% of BTC mining's total computing power. Tether also plans to increase its direct mining operations to 120 MW by year-end, reaching up to 450 MW by 2025's end.
A new platform called Liquid Delegate has been launched, providing a marketplace for tokenizing and trading asset utility. It accommodates various asset functionalities including gaming, event ticketing, airdrop access, and social media authentication. The platform introduces Delegate Market, ensuring zero counterparty risk. Users can tokenize, transfer, and trade delegate tokens while maintaining control of the spot asset. Participating projects receive a share in trading fees to incentivize their partnership.
Coinbase has enhanced its Commerce product with a new open source Onchain Payment Protocol. Aimed at facilitating a better payment experience, the feature supports Ethereum, Polygon, and Base ecosystems for now. The upgrade also addresses common problems merchants and customers face such as crypto volatility. By offering automatic crypto conversion to USDC, Coinbase is making the product more user-friendly and efficient.
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This post provides a good overview of the MEV landscape on Solana. Present strategies include atomic arbitrage, liquidations, and NFT mints. MEV on Solana is still in the early stages compared to the EVM ecosystem, with strategies differing from those on Ethereum due to Solana's continuous block building and propagation. The growth of Solana's DeFi ecosystem could lead to more complex MEV extraction tactics and increased validation centralization, which may challenge network decentralization.
Layer 3 protocols are designed to provide advanced scalability and allow developers to create application-specific blockchains. They aim to solve issues of scalability, interoperability, and customization. Notable examples include Orbs, Arbitrum Orbit, and zkSync Hyperchains. Primarily, they work atop existing Layer 2 solutions, inheriting the security of the Layer 1 blockchain while enhancing the overall functionality and flexibility for developers.
Firedancer, the long-awaited new client developed by Jump, is now partially live on testnet. Jump has rewritten three major functional elements of the existing Solana Labs client with the aim of overhauling the software. This will bring scalability improvements for Solana. Early simulations show a potential for almost linear scaling as bandwidth and hardware capabilities increase. The full Firedancer is set for a testnet launch in H2 2024.
ZetaChain, a California-based startup, aims to include Bitcoin in the booming DeFi sector via its Layer 1 blockchain. Developers can build apps and get access to other networks without needing bridges or wrapped coins on ZetaChain. Notably, Zetachain enables the deployment of smart contracts that interact with native Bitcoin. Recently, it announced native Bitcoin support on decentralized exchange Sushi, enabling users to swap Bitcoin across 30 networks.
In this open letter, ENS criticizes Unstoppable Domains for patenting blockchain domain technology despite advocating for open innovation, urging them to legally commit to open standards in web3.
ProtonMail is developing a blockchain-based email authentication feature to enhance privacy and security, automating recipient verification using public key encryption.
South Korea's National Pension Service bought $19.9 million worth of Coinbase shares, marking its first foray into the digital asset space.
CoinShares has reportedly secured an option to buy Valkyrie Investments' ETF unit, potentially securing a US presence amid expectations of SEC approval for a bitcoin ETF.
Onyx by JP Morgan and Apollo Global has developed a proof-of-concept with Avalanche under Singapore's Project Guardian, aiming to transform asset and wealth management. Leveraging blockchain, smart contracts, and tokenization, this new development will enable efficient portfolio management. Additionally, the 'LayerZero' protocol will connect Onyx Digital Assets to an Avalanche subnet, providing access to tokenized funds offered by WisdomTree.
The SEC has postponed its decision on Hashdex's application to convert its bitcoin futures ETF into a spot ETF and Grayscale's bid to introduce a new futures-based ether ETF. With no indication of how the regulator will rule, these delays likely mean that decisions on all of the Bitcoin Spot ETF applications will have to wait until after this calendar year is up.
LayerZero has introduced ColorTrace, an algorithm that aims to solve the "fungible token coloring problem" - keeping track of specific fungible tokens and their origins. The algorithm aims to keep track of tokens upon transfer and redemption and reward minters proportionally. It offers a single-chain and cross-chain token color solution with "globally consistent" and "economically feasible" token coloring. This paper discusses potential applications of ColorTrace, such as stablecoin collateral tracking.
PancakeSwap, a popular decentralized exchange from the BNB ecosystem, has launched a gaming marketplace that enables developers to create games with web3 components like cryptocurrency and NFTs. It has published two games, "Pancake Protectors" and "Pancake Mayor". PancakeSwap represents nearly 15% of all DEX market share, trailing just behind Uniswap. It supports nine blockchains, including Ethereum and Polygon zkEVM.
This post delves into the ecosystem and how Solana’s newfound attention might impact ecosystem projects like Genesys Go's Shadow ($SHDW), which appear to be undervalued compared to Ethereum-based comps. Shadow is a file storage protocol much like Filecoin. The analysis compares the two and makes an argument for SHDW based on Filecoin’s valuation.
Jupiter, the most popular DEX on Solana, has provided a detailed breakdown of how it will distribute its JUP tokens in the first Phase of the airdrop. The allocation considers the past interactions of 955k wallets. An even distribution accounts for 2% of the drop while 7% is allocated depending on volume traded. The remaining 1% is reserved for community members on their online platforms. The token's full rollout schedule remains to be seen.
Boyaa Interactive, a leading Chinese board and card game company, has announced its plan to acquire around $100 million in cryptocurrency assets, predominantly Bitcoin and Ethereum, over the next year. Aimed at boosting its position in the web3 space, the purchase won't exceed a 10% premium for these digital currencies. The strategic decision follows a recent surge in institutional interest in Bitcoin and Ethereum.
This blog post provides a discussion on blockchains and their potential role as developer platforms. Key factors influencing developers' decision to use one blockchain over another include the offer of unique benefits such as decentralization and smart contracts, balanced against potential drawbacks such as speed, cost, and regulatory uncertainty. While infrastructure improvements are helping developers more easily use blockchains, there are still vast differences in developer experience across different chains and overall usability issues to address.
Circle is investing in the Sei blockchain, co-founded by ex-Robinhood engineer Jayendra Jog, and is integrating USDC natively on Sei.
Microsoft, Tencent, and 16 other Web2 giants are joining Consensys to decentralize the Infura network, enhancing access to Ethereum data and improving network resilience.