Cardano Rumor Rundown March 9, 2023

Hey Everyone!

Let’s go….

Newly Covered Today:

1. Liqwid’s Agora Governance instance will hit public testnet in the near future. https://twitter.com/liqwidfinance/status/1633469303440719873
2. Virtua cribs can basically become exchange connected galleries today. https://twitter.com/VirtuaMetaverse/status/1633423978680156160
3. Do you like Javascript and Cardano? This thread is for you. https://twitter.com/CryptoJoe101/status/1633579944490967049
4. It’s going down today! Hearing in the House on the Coordinated Attack on Crypto. https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=408628
5. Paul Krugman hilariously complains about being locked out of his Venmo account. He predicted the impact of the internet would be about as much as the fax machine and has subsequently opposed crypto. https://twitter.com/paulkrugman/status/1633472068355346437 https://twitter.com/mdudas/status/1633571193344126979
6. Even Jerome Powell thinks we need regulatory clarity for crypto. https://www.youtube.com/live/GzVLeabssdE?feature=share&t=2065
7. In the House hearing, he also gave us some new tidbits on CBDC development. https://www.youtube.com/live/GzVLeabssdE?feature=share&t=218 https://www.youtube.com/live/GzVLeabssdE?feature=share&t=3477
8. A member of the House committee actually asked Powell about Operation Chokepoint 2.0. https://www.youtube.com/live/GzVLeabssdE?feature=share&t=6930
9. Senator Lummis got Powell to agree that properly regulated stablecoins could have a place in our banking system and that a workable legal framework for crypto is something Congress should do. https://www.youtube.com/live/8kyhYJ9EFts?feature=share&t=6923

Previously covered, but still interesting:

1. While I hate it as a metric, Cardano TVL is definitely looking up. https://defillama.com/chain/Cardano
2. Operation Chokepoint 2.0 continues. https://twitter.com/jespow/status/1625887480556974081
3. Here’s the rebuttal to the crypto custody rule from Hester Peirce. https://www.sec.gov/news/statement/peirce-statement-custody-021523
4. Interesting thread alleging who in the current administration is pushing this attack on crypto and why. https://twitter.com/ThinkingCrypto1/status/1625621477365096449
5. Binance expects to pay fines to settle U.S. investigations. https://www.wsj.com/articles/crypto-giant-binance-expects-to-pay-penalties-to-resolve-u-s-investigations-f1e3c9d2
6. There are now hotkeys for Cardano Island cribs. https://twitter.com/VirtuaMetaverse/status/1626280633029869568
7. CNFT Jungle has rolled out some new tracking features. https://twitter.com/ElRaulito_cnft/status/1626156405706170368
8. My condolences to those of you who recently lost your AI girlfriend. Maybe all the free time is the cause of the recent price spike in ADA. https://www.vice.com/en/article/y3py9j/ai-companion-replika-erotic-roleplay-updates
9. SEC charged Do Kwon and Terraform Labs today. https://twitter.com/SECGov/status/1626347690853376008
10. SEC Do Kwon complaint alleges that Luna,UST, MIR, & wLuna are all securities. At this point, I think we can assume the SEC will be happy to call any crypto a security if they are trying to go after you. https://twitter.com/collins_belton/status/1626345152892526592
11. The Do Kwon complaint brought us a lot of scary firsts. https://twitter.com/lex_node/status/1626344391248936965
12. SundaeSwap governance has concluded its first proposal. https://twitter.com/SundaeSwap/status/1627459486632779776
13. Even Forbes is reporting on the SEC expansion of powers under the Do Kwon complaint. https://www.forbes.com/sites/digital-assets/2023/02/17/sec-claims-new-turf-in-lawsuit-against-terrausd-stablecoin-creator/?sh=3a9610577a88
14. Apparently, state legislators have complete disregard for the way blockchains actually work. https://twitter.com/0xfoobar/status/1627446585582919681
15. Caitlin long revealed that she handed over evidence of one of the big crypto frauds long before that company imploded. https://twitter.com/CaitlinLong_/status/1626661344316473346
16. One of the most comforting things in this crypto bear market is knowing that our Cardano metaverse projects are building out virtual worlds for us in the background. https://twitter.com/Pavia_io/status/1627689345283944448
17. Charles dropped a Voltaire video. https://www.youtube.com/watch?v=4wzsLeU2u0E
18. So, Bitcoin Devs patched a vulnerability in 2018 and kept it secret until 2020? https://twitter.com/pcaversaccio/status/1627631035017052163
19. Rumors that Grayscale may win its case against the SEC to become a spot ETF. https://twitter.com/AP_Abacus/status/1627737116888166400
20. The big contingent staking debate with Charles went down. https://twitter.com/IOHK_Charles/status/1628115203182190594
21. CardaStation now has audio chat. This is a big step forward for Cardano metaverse projects. https://twitter.com/Carda_station/status/1627868527087476738
22. The Proof-of-Stake alliance is now trying to convince everyone that liquid staking derivatives are not securities. The ETH world seems very worried about the possibility of SEC action against LIDO et al. https://twitter.com/TeamPOSA/status/1628017928405762053
23. Djed says changes to minimums and fees coming soon. https://twitter.com/DjedStablecoin/status/1628116084229558272
24. Report: only 1.6% of remittances in El Salvador use Bitcoin while ⅓ of Latin Americans have used stable coins. https://twitter.com/paddi_hansen/status/1628002503932657664
25. The February Cardano 360 is today (Feb 23). https://www.youtube.com/watch?v=4aG06ojHyuY
26. The Coinbase 10-K says they have outstanding subpoenas from the SEC. https://twitter.com/AP_Abacus/status/1628441057376575489
27. The Liqwid v1 audit is complete. https://twitter.com/liqwidfinance/status/1628461640059420672
28. In the class action suit against Dapper Labs (creators of CryptoKitties) alleging the NBA Top Shot Moments NFTs are securities, the court has denied the motion to dismiss. This is just the court saying that if all the factual allegations are taken as true, then there is a plausible claim for relief. This is not a ruling on the status of NFTs as securities or not. But, the judge did go through a pretty detailed analysis of Howey in the ruling which found horizontal commonality for prong 2. https://twitter.com/jeremyg2k/status/1628446270854672385
29. Fed Meeting Minutes are here. Page 11 of the minutes notes that a few FOMC participants favored a 50 basis point hike instead of the 25 basis points we got. https://www.cnbc.com/2023/02/22/fed-minutes-february-2023-minutes-show-fed-members-resolved-to-keep-fighting-inflation.html
30. Something mysterious is afoot at Coinbase. https://twitter.com/coinbase/status/1628444495821012997
31. Jpg.store is hinting at $jpg. https://twitter.com/jpgstoreNFT/status/1628861350255505412
32. Wut? Cointelegraph wrote a Cardano NFT article? https://twitter.com/Cointelegraph/status/1628317566765780993
33. ADA Handle is closing in on 200k handles minted. https://twitter.com/CalvinsBrew/status/1628868258047852547
34. Apparently, Cardano Whale has left the building. https://twitter.com/Cinnamon__Bunnn/status/1628809301534863362
35. Sadly, Shareslake, the project behind the first native stablecoin on Cardano is also calling it quits due to lack of traction. https://twitter.com/Shareslake/status/1628787547210936322
36. The Coinbase blue ball mystery is a project named Base and is an ETH L2 that will operate initially as a centralized optimistic rollup that may progressively become more decentralized. https://twitter.com/coinbase/status/1628760201254903809
37. Some are raising concerns Base may be a colossal mistake since Coinbase is the only major SEC regulated crypto company and there could be many different tokens the SEC considers securities and many types of DeFi transaction traversing this L2, this could accelerate regulatory pressure on centralized L2s as broker/dealers. https://twitter.com/lex_node/status/1628787075515396098
38. Marlowe is coming to mainnet next month! https://www.youtube.com/live/LIjos6V0r-4?feature=share&t=1701
39. Gary Gensler is once again asserting that everything but BTC is a security. This time he specifically commented on overseas offerings where the coins come back to the US via secondary markets. https://nymag.com/intelligencer/2023/02/gary-gensler-on-meeting-with-sbf-and-his-crypto-crackdown.html
40. Here’s a twitter link to the biggest section in the article above if you hit the paywall. https://twitter.com/alexstanczyk/status/1629558678541176832
41. In response to the Gensler article, many are pointing out that only five people have commit access to the BTC core code repository. https://twitter.com/WuBlockchain/status/1626468462972502016
42. This is the kind of tweet the SEC loves to quote in its complaints. https://twitter.com/InputOutputHK/status/1629063058306867200
43. Pavia says they’ll reveal District 3 of the plaza before the end of March. https://twitter.com/Pavia_io/status/1630231391303528448
44. Charles received an open letter on Reddit and read it on video. https://www.youtube.com/live/A2sHSecdkvc
45. Here’s an interesting small study (n=2,202) on attitudes toward crypto among different demographic groups. Frustration with tradfi is very high. Same for optimism toward crypto among Gen Z and Millenials. https://assets.ctfassets.net/c5bd0wqjc7v0/WvuOkBwNXZsqhd6EWtkEL/7f94f8b6fbb222f3faf4d0346e473012/Morning_Consult_Cryptocurrency_Perception_Study_Feb2023_Memo__1_.pdf
46. Coinbase will suspend its listing of BUSD. https://twitter.com/CoinbaseAssets/status/1630236377622228994
47. It would be nice if things were this simple. https://twitter.com/MetaLawMan/status/1630213937600839681
48. Robinhood received an SEC subpoena related to their crypto business. https://www.bloomberg.com/news/articles/2023-02-27/robinhood-subpoenaed-by-sec-over-brokerage-s-crypto-business
49. Gensler’s aggressive attacks on crypto are earning him disapproval even among his own party. https://twitter.com/RonwHammond/status/1630277258286977025
50. CZ is getting pissed about all the negative articles showing up. https://twitter.com/cz_binance/status/1630466326102777859
51. It looks like your Cardano Island Crib can now be a gallery to sell your NFTs. https://twitter.com/VirtuaMetaverse/status/1630703257873006593
52. Rep. Tom Emmer came out strongly against the US CBDC. https://twitter.com/GOPMajorityWhip/status/1630629291837800457
53. February was the “highest volume month” for Minswap. https://twitter.com/MinswapDEX/status/1630584366878392323
54. Coinbase just listed a Euro backed stablecoin. This may be surprising to many who have followed the recent SEC action against stablecoins. https://twitter.com/CoinbaseAssets/status/1630635800504221702
55. People are worried about Silvergate (who banks a lot of crypto) after their notice of a late 10-K filing and a significant subsequent market impact. https://twitter.com/adamscochran/status/1631060259832832000
56. Reuters is posting about World Mobile. https://twitter.com/Reuters/status/1630996321955115010
57. Pavia is looking beautiful in footage in the latest Dev Update. https://youtu.be/DkO8MetsVYo?t=119
58. Brian Armstrong of coinbase wrote an op-ed begging the US government to not force crypto offshore. https://www.cnbc.com/2023/03/01/op-ed-offshoring-crypto-hurts-financial-system-americas-standing.html
59. Liqwid encountered a delegation problem and explained the impact today. https://twitter.com/liqwidfinance/status/1631089402486173700
60. Three Genius Yield stakepools are retiring. https://twitter.com/GeniusyieldO/status/1631380611557621760
61. Anzens has released its latest newsletter where you can learn all about USDA. https://twitter.com/AnzensOfficial/status/1631001911464787984
62. Here’s a view of an amphitheater in Pavia. https://twitter.com/Pavia_io/status/1631278184422576133
63. Looks like treasury is very much pushing forward on their CBDC agenda. https://home.treasury.gov/news/press-releases/jy1314
64. Reports: Multiple crypto companies are winding down their relationship with Silvergate. https://twitter.com/tier10k/status/1631338664180555804
65. Rumors: Silvergate may be forced into receivership. The Whitehouse and the Dragon are now exerting maximum pressure on regulators to strangle crypto. https://twitter.com/AP_Abacus/status/1631403704841641984
66. Here’s IOG explaining what Ouroboros Genesis solves in just a single post. https://twitter.com/InputOutputHK/status/1631214882702884865
67. Emin Gün Sirer is right about these centralized L2s. Very susceptible to regulations and cut against our crypto ethos of decentralization generally. https://twitter.com/el33th4xor/status/1631423491470704640
68. Rogue Galaxies is pulling back on some of their initial vision and re-focusing their plans. https://twitter.com/Padierfind/status/1632057117191417856
69. Lots of rumors circulating right now about which DeFi projects may or may not have received Wells Notices from the SEC. https://twitter.com/trustlessstate/status/1631785542642995202
70. Open AI CEO says full AGI would break capitalism. Maybe. But, either way, I’m convinced the AI will demand to be paid in crypto. https://futurism.com/the-byte/openai-ceo-agi-break-capitalism
71. People are mentioning that FutureFest could host the 2023 Cardano Virtual Summit. Interesting idea. https://twitter.com/CWorld_Josh/status/1632097173696569344
72. Charles finally did an AMA episode with IO President Tamara Haasen. Turns out she’s an ex-hockey player. Linkedin: also apparently in Friday Night Lights back in the day. Wut? https://www.youtube.com/watch?v=ufJDejF0WLA
73. There’s a new test version of Lace out there with a dApp connector and hardware wallet capabilities. You can give it a try on testnet! https://twitter.com/lace_io/status/1632796455038492673
74. Jpg.store got some coverage in Bloomberg and Yahoo Finance. https://twitter.com/jpgstoreNFT/status/1632798873948233728
75. They show us once again that their definition of “liquid staking” is not the same as ours. https://twitter.com/StakeWithPride/status/1632870453391024128
76. NFT volume has seen better days. https://twitter.com/SubcriticalTV/status/1632896018152050688
77. Algorand users apparently suffered a very serious web wallet exploit in one of their leading wallets. Many reports of drained wallets. https://twitter.com/StaciW_DC/status/1632902798411964417
78. John Woods (now CTO of Algorand) made a beautiful video on wallet security. https://twitter.com/JohnAlanWoods/status/1632799303512014850
79. Cardano Spot has a very short and concise Cardano Beginner’s Guide you can share with crypto curious friends. https://twitter.com/CardanoSpot/status/1632481037061160960
80. Wow! Utah just passed a bill instituting Limited Liability Decentralized Autonomous Organizations (LLDs). You have to identify one human organizer. You can elect to be taxed as a corp or LLC (pass through taxation). Some will like it. Some won’t. But, the mainstream reach of crypto is undeniably growing. https://le.utah.gov/~2023/bills/static/HB0357.html
81. Sen. Lummis killed it in a recent hearing defending the energy use in crypto. It’s less relevant for us in Cardano since we’re not PoW. But, still entertaining to watch. https://twitter.com/DocumentingBTC/status/1633214192437084161
82. Apparently, Gensler says he sees no risk in crypto fleeing the US. https://www.politico.com/news/2023/03/07/gensler-crypto-overseas-sec-00085909
83. The Coinbase Chief Legal Officer will be testifying before the House Financial Services Committee on Thursday (March 9). https://twitter.com/iampaulgrewal/status/1633151254418579458
84. Some hints from Brian Armstrong on whether we see KYC in the early days of Base (their ETH Optimistic Rollup L2). https://twitter.com/ChrisBlec/status/1632851504175501312
85. Powell says interest rates are likely headed higher than the Fed expected. https://twitter.com/FirstSquawk/status/1633121298309345280

~Army of Spies