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The SEC has filed 13 charges against the world's largest crypto exchange, Binance, and its founder CZ. The SEC alleges that Binance has violated securities laws, commingled billions in user funds, purposefully worked to attract US customers to its unregulated international exchange, and included some extremely incriminating statements made by Binance officials in the lawsuit. Additionally, the SEC accused Binance of operating market-making companies to inflate trading prices. Binance claimed to have been cooperating with regulators and pledged to continue to for the investigation. The suit also alleged that several leading altcoins, such as Solana, Polygon, BNB, Cardano, and others, are classified as securities, causing crypto markets to tumble yesterday.

JPMORGAN TURNS TO BLOCKCHAIN FOR DOLLAR TRADES IN INDIA HUB

JPMorgan is partnering with six major Indian banks to pilot a blockchain platform for interbank dollar transactions in the Gujarat International Finance Tec-City (GIFT City). The platform will leverage JPMorgan's Onyx blockchain solution to enable instant, round-the-clock settlements allowing GIFT City banks to operate effectively on their own time zones. This initiative supports New Delhi's efforts to establish GIFT City as an international financial center, competing with Singapore and Dubai.

CURVE’S STABLECOIN TO SUPPORT LIDO’S STETH

Curve holders have voted to include Lido's liquid staking token, stETH, as a collateral alternative for Curve's new stablecoin, crvUSD. This development will increase the crvUSD debt ceiling by 15 times to $150M. If this new limit is reached, crvUSD would become the 13th largest stablecoin. The addition of stETH will allow more liquid staking token holders to utilize their position in DeFi with crvUSD. The vote also increases the limit on PegKeepers pools, a system that helps maintain crvUSD's stable value.

A METRIC TO EVALUATE LP COMPETITIVENESS IN AMMS

Uniswap has introduced a new metric called fee liquidity-adjusted instantaneous returns (FLAIR) to gauge the performance of LPs in AMM pools. FLAIR takes into account the intra-pool competitiveness, considering factors like timing of liquidity deployment and rebalancing of in-range liquidity. It also helps LPs measure historical performance and strategize future capital deployments. While it's applicable to Uniswap's protocol, it can also be adjusted for traditional exchanges, offering a comparative tool to understand various market structures.

CRYPTO BASICS SERIES: DEX AGGREGATOR BASICS

This article likens DEX aggregators to hotel search engines - tools to find the best deals across multiple DEXs. They monitor numerous liquidity sources using algorithms to determine the most beneficial rates and least slippage, saving users what might otherwise be lost in transactions due to high slippage or suboptimal exchange rates. Some aggregators may even split trades across several exchanges to maximize conditions. Prominent examples of DEX aggregators include 1inch and Paraswap. In the future, DEX aggregators will likely become an integral part of wallets, enhancing their functionality as we have already seen with larger wallets like MetaMask.

A BREAKDOWN OF THE PROPOSED MARKET STRUCTURE BILL

The proposed crypto bill aims to integrate crypto regulation into the existing US financial regulatory landscape, allowing tokens and related intermediaries to be simultaneously regulated by the CFTC and SEC. In this framework, tokens would sometimes be regulated as securities and sometimes as commodities. For example, insider tokens would be treated as securities with a 12-month lockup period, and could be sold on SEC-registered platforms. The bill also provides a clear securities law exemption for end user distributions. Potential downsides include fragmented markets, SEC authority over crypto projects, possible lack of liquidity for insiders, and a dual regulatory regime.

SEC COMPLAINT AIMS TO UNILATERALLY DEFINE CRYPTO MARKET STRUCTURE

In its own statement, Binance expressed disappointment over the SEC's lawsuit, stating that it has cooperated fully during investigations and attempted to address the SEC's concerns. The crypto exchange feels that the SEC's approach lacks clarity for the digital asset industry, and unilaterally labeling tokens as securities complicates matters further. Binance refuted allegations that user assets on its platform were at risk, assuring that all assets are secure. It criticized the SEC's apparent intent to make headlines rather than protect investors and claimed that the agency was hindering innovation in the US with its enforcement actions. Despite the lawsuit, Binance stated that it remains committed to cooperating with regulators and fighting the SEC's perceived overreach.

VC FUNDING OVER THE LAST FEW MONTHS

In May, there were 120 crypto venture deals that raised a total of $1.2B, down from the previous month’s count of 130 deals. While the raw numbers showed declines, it was still promising to see projects securing funding during the bear market. Three of the projects that raised in May include zkLink, a multichain trading layer for DeFi & NFTs; Dolomite, a next-gen money market and margin trading platform; and Hourglass, a marketplace for trading time-bound tokens.

SYNTHETIX, WHAT COMES NEXT, PART ONE

Reflecting on Synthetix's journey since 2018, this article discusses the challenges and lessons learned, particularly with their oracle system, highlighting the inherent complexity and unpredictability in the crypto space and the necessity of constant adaptation.

CRYPTO HEDGE FUND ARCA HAS TRIMMED 30% OF ITS STAFF

Crypto hedge fund Arca cut 30% of its staff amid a prolonged bear market and regulatory uncertainty with the aim of conserving capital and resources.

RELEASE AT WWDC

In the lead up to Apple's VR headset unveiling yesterday, several metaverse tokens like SAND, MANA, SENSO, AXS, and FLOKI went on a slight run as investors speculated about a new metaverse narrative forming.

SALVADOR

Tether has invested in Volcano Energy, a startup planning a $1 billion Bitcoin mining farm in El Salvador using renewable energy.

THE EVOLUTION OF REACT APIS AND CODE REUSE

React changed how we think about building UIs. As it continues evolving, it’s changing how we think about building applications. This article explores the evolution of React and the various code reuse patterns that have emerged. It digs into the underlying mental models that shaped them and the tradeoffs that came with them. Finally, it looks into where React is going in the future and what it might entail for web development moving forward.

MEMORY

In 2021, Adobe, together with Chrome engineering, brought a version of Photoshop to the web. However, the files edited in Photoshop often require more memory than a user has available on their device, due to the many features offered by the software, the types of digital design and editing it is used for, and the capabilities of user devices. This article looks at how Adobe Photoshop engineering solved working with files larger than can fit into memory and how Photoshop works with files larger than the 32-bit address space of wasm32.

RUNNING PROMISES IN PARALLEL: A VISUAL GUIDE

Promises are everywhere in modern JavaScript. They’re essential for keeping interactions fluid, making UIs snappy, and creating readable code. This article takes a deep dive into promises and how they work through visual illustrations.

BEING BLOCKED SUCKS. HERE'S WHAT TO DO WHEN IT HAPPENS

Knowing how to handle being blocked by another person or team effectively can potentially 2-5x your output. This article looks into what being blocked looks like, how to unblock yourself, and what to do if you can’t unblock yourself. There are various ways to get unblocked, such as finding an intermediary solution.

ON SOFTWARE DEPENDENCY ENGINEERING

Most software has dependencies that are not created by the writers of that piece of software. While open source dependencies that your software relies on is code that you did not write, it is code that you have a localized responsibility for. This article dives into what dependency management is, dependency responsibility, and the need for software dependency engineers who are responsible for managing a project’s dependency graph.

CAREER SURVIVAL GUIDE FOR THOSE WHO HATE NETWORKING

Networking can be both stressful and time-consuming. However, networking can be a useful boost to one’s career and having a well-connected network can lead to better career opportunities. This article provides some tips to network better, such as seeking quality over quantity and leveraging existing relationships to meet more people.

ELECTRON 25.0.0

Electron v25 has been released. It includes upgrades to Chromium 114, V8 11.4, and Node.js 18.15.0. Electron is a framework to build cross-platform desktop applications using web technologies like React, Next.js, and Angular. Many world-class apps are built with Electron, like Figma, Microsoft Teams, 1Password, VSCode, Postman, Slack, Notion, and more.

CHAINLIT

Chainlit lets you create ChatGPT-like UIs on top of any Python code in minutes. Some of the key features include intermediary steps visualization, element management & display (images, text, carousel, etc.) as well as cloud deployment. It also has a plug-and-play integration with LangChain.

OVERLAYSCROLLBARS

OverlayScrollbars is a JavaScript scrollbar plugin that hides native scrollbars and provides custom styleable overlay scrollbars while keeping native functionality and feeling. It features a simple API, high browser compatibility, high device and input compatibility, TypeScript support, and more.

FERN - THE FUTURE OF API DEVELOPMENT (GITHUB REPO SPONSOR)

Fern is an open source format for defining REST APIs. You can think of it like a programming language to describe your API - your endpoints, types, errors, and examples. Find out why companies like Scale AI and Flatfile already use Fern to develop their APIs and generate their SDKs, check us out on GitHub [https://github.com/fern-api/fern?utm_source=tldr].

INTRODUCING APPLE VISION PRO: APPLE’S FIRST SPATIAL COMPUTER

Apple's Vision Pro augmented reality headset, unveiled at the annual WWDC keynote, boasts impressive hardware and software capabilities with a price tag of $3,499. It has advanced features such as two micro-OLED screens providing true 4K resolution, LIDAR space sensing, and dual onboard custom processors. It runs on visionOS and allows users to interact with digital content in a way that feels like it is physically present in their space.

AND MORE

Apple unveiled many exciting software and hardware developments in the Apple ecosystem at its WWDC event. They announced a 15-inch Macbook Air, new features in iOS 17, desktop widgets for macOS, FaceTime for Apple TV, a new journaling app, and more.

FROM IDEA TO DESIGN FOR NON-DESIGNERS

As web developers, we often have to get our hands dirty with design when we build websites. As a non-designer, it can be difficult to make design choices that are visually pleasing, cohesive, and accessible. This article breaks down fundamental design concepts that can help anyone build better websites.

I WORE THE APPLE VISION PRO. IT’S THE BEST HEADSET DEMO EVER.

The editor-in-chief of the Verge, Nilay Patel, reviews the Apple Vision Pro after getting to demo it. He notes how light the device is and how well it is designed. He is superbly impressed by the mixed reality capabilities of the device with amazing eye tracking and gesture control. However, he is still not sure the purpose of the Vision Pro and how it fits into someone’s daily life like the iPhone, Macbook, Airpods, and Apple Watch do.

REDUCE LATENCY AND INCREASE CACHE HITS WITH REGIONAL TIERED CACHE

Tier cache allows users to organize Cloudflare data centers into tiers, where only high tiers can request content from origin servers, and send content to lower tier servers closer to customers. Cloudflare adds a regional tier in between low and high tiers so low tiers can request content from regional tier before high tiers. This reduces the number of requests to high tiers, resulting in lower origin load and overall latency. Overall there's an average of 50-100ms improvement in tail cache hits using regional cache tiers.

SANDSTORM

Sandstorm is an open source platform for self-hosting web apps.

SHARING WEBSOCKET CONNECTIONS BETWEEN BROWSER TABS AND WINDOWS

Sharing websockets across tabs and windows of your website can be tricky, but it can be done with shared workers.

PROCESSING ARRAYS NON-DESTRUCTIVELY

This article discusses three ways to process arrays and offers a deeper look into how these functions work.

ITS OWN

Mark Zuckerberg posted a teaser for Meta's Quest 3 headset on Instagram on Thursday. The Quest 3 will launch in the fall for $499. Meta appears to still be spending heavily on the metaverse. Its Reality Labs unit reported an operating loss of $3.99 billion in the company's first quarter while generating $399 million in revenue. The price for the Quest Pro headset that launched last October has been dropped from $1,499.99 to $999.99. A link to the teaser video is available in the article.

LISA SU SAVED AMD. NOW SHE WANTS NVIDIA'S AI CROWN

AMD was floundering when Lisa Su took over as CEO in 2014. Su was able to take advantage of missteps by Intel and signed deals with many large customers, bringing the company out of trouble and even overtaking rival Intel in market capitalization. AMD now plans to produce chips to break Nvidia's near-monopoly on the processors that power generative AI technologies. The company plans to have AI in every one of its products in five years. This article talks about Su's time at AMD and her plans for the company for the next few years.

BLUETOOTH NETWORK

Seattle-based startup Hubble Network wants to launch a satellite network that any Bluetooth-enabled device from anywhere in the world can connect to. It aims to build out a constellation of 300 satellites to provide real-time updates for any sensor or device with a Bluetooth low-energy chip. Hubble's technology allows radio signals to be detected around 1,000 kilometers away. The company plans to launch an initial batch of four satellites in January 2024.

ZAPPING THE BRAIN DURING SLEEP HELPS MEMORIES FORM

Researchers at UCLA and Tel Aviv University have found a way to improve people's memories by stimulating the brain with gentle electric pulses during sleep. The researchers suspected that the part of the brain where memories are initially stored communicates with another part of the brain during sleep as part of the process of memory consolidation. The study confirmed the communication between the two parts of the brain and demonstrated a way to strengthen the connection. The team is now exploring whether AI can help identify brain activity linked to specific memories.

LANCE

Lance is a modern data format for machine learning. It provides faster random access, a vector index, data versioning, and more. Lance is compatible with pandas, duckdb, polars, and pyarrow. It can be used for building search engines and feature stores, large-scale ML training, and storing, querying, and inspecting deeply nested data.

WATCH TRANSITIONS IN SLOW MOTION IN CHROMES DEVTOOLS

Chrome's devtools allow developers to watch animations play out in slow motion. This enables easier debugging. Some issues happen too fast and can't be detected without slow motion. To watch animations in slow motion, developers just need to access the console drawer in Chrome devtools and then choose the 'Animations' panel from the 'More' menu. A menu will appear that allows users to set animation speed.

THE DEATH OF SELF-DRIVING CARS HAS BEEN GREATLY EXAGGERATED

Seven years ago, hype about self-driving cars was off the charts. Several self-driving projects have shut down their efforts since. Many people now view self-driving technology as an expensive failure. However, a handful of well-funded projects have continued to work on the technology. This article looks at the current leaders in the self-driving industry, Waymo and Cruise, the state of the industry, the challenges the industry faces, and the future of the industry. It also covers Tesla's Full Self Driving technology.

OPEN SOURCE AI HAS A NEW CHAMPION

Falcon is a large language model developed by the Technology Innovation Institute in Abu Dhabi, United Arab Emirates. It offers better performance than LLaMA, a GPT-level large language model developed by Meta. Falcon is the most powerful open-source language model to date. It uses a modified Apache license, which means that it can be fine-tuned and used for commercial purposes. Falcon is the first open-source large language model that extends beyond research limitations.

STARTING IN SEPTEMBER

The new policy will not impact existing workers who primarily work remotely.

KO

ko makes building Go container images easy, fast, and secure.

MALWARE

Several dozen employees from security firm Kaspersky were hit with an advanced cyberattack that used clickless exploits to infect their iPhones to collect microphone recordings, photos, geolocation, and other data.

TEMPERATURES IN A TOKAMAK

Researchers from the Oak Ridge National Laboratory, Princeton Plasma Physics Laboratory, and Tokamak Energy Ltd recently achieved temperatures of nearly 100 million degrees Celsius in a compact tokamak.

THE BIG QUESTION OF HOW SMALL CHIPS CAN GET

Moore's Law will likely end soon, but humans will likely find ways around bottlenecks and continue innovation.

PEAK CREDENTIALISM

There is evidence that the tech industry is moving away from credentials, which means that people can worry less about which college they attend or even whether they should attend college.

$1M AI SECURITY GRANT

OpenAI is launching a grant program to support cyber security professionals using AI and combating AI enabled systems. They are accepting applications and have a number of ideas to show the types of projects they're looking to support.

BAIDU ROLLS OUT AI VENTURE FUND

Chinese tech giant Baidu is rolling out a 1 billion yuan ($145 million) AI venture fund to back startups focused on content generated by artificial intelligence applications. The fund will also launch a competition for developers who build applications off Baidu's ERNIE large language model (LLM) or integrate the model into their existing products.

USING GOOGLE’S CODE HISTORY TO WRITE MORE CODE

Google has recorded every change to its code base for decades, including rich descriptions, changes, and fixes. They treat this as a sequence modeling problem and create a set of robust internal tools that can help software engineers be more productive. They find it to be surprisingly effective, even at novel tasks like “history informed generation”.