https://www.reddit.com/gallery/11nhczj
Thursday, March 9, 2023
Friday, 10th March 2023
The Daily Spin. F&cking Friday Edition. BTC takes a nosedive under $20k support, ETH gets alleged to be a security in a lawsuit against KuCoin, Voyager continues dumping its cryptoassets for USDC. Hundreds of millions are liquidated from the crypto market, Houbi’s exchange token flash crashes for 90%, and Bitcoin whales are withdrawing large sums of money from Bithumb and Binance... what a lovely end to the week, looked hard for some decent content but just overall - yuck.
Hedera Hashgraph has halted its blockchain due to an ongoing exploit. Bitcoin mempool is bloated, number of waiting transactions is reaching new highs. Ethereum Foundation makes new Goerli Shapella announcement, delays Shanghai upgrade and staked ETH withdrawals. Blockchain.com announces it is shutting down its asset management division, retail users should not be affected. ETH NFT gas spending has bottomed to near two-year lows, indicating the shift in demand towards Layer 2s and Bitcoin Inscriptions/Ordinals. And despite all the bad news and rampant FUD, Binance’s market share grew from 59% to 62% during Q1. Safu.
Coinbase announces Wallet-as-a-Service, almost in direct competition with Coinweb’s Multi-tenancy Wallet solution but just not as cool. Jur launches startup society founder’s award to boost web3 projects. Starbucks Odyssey releases its first limited edition NFT, “The Siren Collection.” And the infamous r/Cryptocurrency subreddit launches MOON token pool on SushiSwap.
Biden proposes to reduce the budget deficit by introducing an energy tax for crypto miners, meanwhile the Republican majority whip Tom Emmet voices his concerns that CBDCs could be weaponized as a political tool. NFTs continue its battle for regulatory classification. Sydney becomes a hotspot for crypto traders.
In TL, we have a bird’s eye view of the Ethereum Shanghai upgrade and its possible aftermath effects. Two entries discussing the Silvergate Capital collapse, a podcast of sci-fi writer and creator of the term “Metaverse” gives his opinions on games, movies, interoperability and blockchain. Last but not least, Bankless summarizes everything that happened at the ETHDenver conference this year, always considered to be the landmark low-key event – and often more consequential than international-scale events such as the upcoming Consensus 2023… here is our round-up of curated news and opinions (surely biased) from the world of Blockchain, keeping you informed into the market news with the most trending, in-the-know, and controversial topics. In the name of transparent, dissemination of information to keep you curious, inspired, and clinically sane…
Ongoings at Coinweb
Coinweb to bring cross-chain tokenisation to Layer 2
https://cryptoslate.com/coinweb-to-bring-cross-chain-tokenisation-to-layer-2/
“A Thread on L2 Scalability, Network Efficiency and Throughput/TPS” by Anton on Twitter
https://twitter.com/CoinwebOfficial/status/1633424957693915137
The Coinweb Monthly Spin - Coinweb Project's Monthly Round-Up and Curated News & Events From The Bleeding Edge of All Things Web3
https://coinweb.beehiiv.com/p/coinweb-monthly-spin-fifth-edition
A Leading Layer 2 Platform Looking To Tackle Crypto's Interoperability Issue
https://www.benzinga.com/markets/cryptocurrency/23/02/31067514/a-leading-layer-2-platform-looking-to-tackle-cryptos-interoperability-issue
Toby Gilbert takes the stage at the Thai Technology Investment Summit 2023, “On the future of Web3” and Ain Mohd represents Coinweb on a panel discussing “The Role of Women in Web3”
“The Reality of Large-scale Enterprises Adopting Blockchain Technology” an article by Toby Gilbert for CityAM Magazine
https://www.cityam.com/the-reality-of-large-scale-enterprises-adopting-blockchain-technology/
Coinweb Labs is proud to unveil LinkMint ⛓️🍃, our groundbreaking Cross-Chain Tokenisation Platform and DeconX, our integrated native DEX! Live Walkthrough Demonstration for the Community by Toby, Knut, and Alexander.
https://www.youtube.com/watch?v=CSKA3cAB15U
“A Thread on Guaranteed Liveness and the Coinweb Routing System” by Anton on Twitter
https://twitter.com/CoinwebOfficial/status/1630052477579169793?s=20
“A Thread on Rollups, Monolithic, and Modular Blockchains” by Kawin on Twitter
https://twitter.com/rukawin/status/1616342851507613696?s=46&t=BjBOK3soH3kOMbsWEa_jlg
Coinweb to Deliver Cross-Chain Smart Contract Architecture and Blockchain Loyalty Programme to BMW
https://cryptoslate.com/bmw-to-bring-blockchain-loyalty-program-through-coinweb-and-bnb-chain/
KuCoin Labs launches incubation program to accelerate builders (Coinweb, DoraHacks, Ava Labs)
https://cointelegraph.com/press-releases/kucoin-labs-launches-incubation-program-to-accelerate-builders
Toby’s full presentation at Token2049-London
https://youtu.be/pdtKx3vAs9c
On the Radar
Ethereum Shanghai Upgrade, Delayed (On-chain)
Institutional ETH-Staking Post Shanghai, Mar 14 (Virtual)
https://streamyard.com/watch/wM8YwWjJ37yd
FED February 2023 CPI Data, Mar 14 (Washington D.C.)
Optimism Bedrock Upgrade, Mar 15 (On-chain)
Coinweb’s digitALL event, Mar 16 (House on Sathorn)
https://www.eventbrite.com/e/digitall-innovation-and-technology-for-gender-equality-tickets-556391992427?fbclid=IwAR09j-V1VJ40DjEI0kTFb6SsQbQmZhEQ9C-znofJ29dS-v9FM0TNCGhvwR8
Blockchain Africa Conference 2023, Mar 16-17 (Johannesburg)
FOMC Meeting, Mar 21-22 (Washington D.C.)
Polygon zkEVM Launch, Mar 27 (On-chain)
WOW Summit, Mar 29-30 (Hong Kong)
ASEAN Web3 Summit, Mar 30-31 (Singapore)
Consensus 2023, Apr 26-28 (Austin, Texas)
AIBC Asia, Jul 19-22 (Manila)
TOKEN2049, Sep 13-14 (Singapore)
On the Block(chain)
Hedera halts wallet and app access due to possible exploit
https://cryptoslate.com/hedera-halts-wallet-app-access-due-to-likely-exploit/
NYAG sues KuCoin over New York operations
https://cryptoslate.com/nyag-sues-kucoin-over-new-york-operations/
Bitcoin loses 21k support, as contagion from Silvergate enters banks, financials sector
https://cryptoslate.com/insights/bitcoin-loses-21k-support-as-contagion-from-silvergate-enters-banks-and-financials-sector-gold-bucks-the-trend/
Back to back withdrawals from Bitcoin whales, first Bithumb and now Binance
https://cryptoslate.com/insights/back-to-back-withdrawals-from-bitcoin-whales-first-bithumb-and-now-binance/
Bitcoin memory usage full, number of transactions waiting in the mempool exploding to new highs.
https://cryptoslate.com/insights/bitcoin-memory-usage-full-number-of-transactions-waiting-in-the-mempool-exploding-to-new-highs/
Ethereum Foundation makes new Goerli Shapella announcement
https://cryptoslate.com/ethereum-foundation-makes-new-goerli-shapella-announcement/
Voyager Continues Liquidating Crypto Assets for Circle’s USDC Stablecoin
https://www.coindesk.com/business/2023/03/09/voyager-continues-liquidating-crypto-assets-for-circles-usdc-stablecoin/
Competitive Landscape
Coinbase introduces Wallet as a Service
https://twitter.com/coinbase/status/1633473042000101378?s=20
Jur Launches Startup Society Founders’ Awards To Reward Web 3.0 Innovators and Promote Ecosystem Growth
https://dailyhodl.com/2023/03/07/jur-launches-startup-society-founders-awards-to-reward-web-3-0-innovators-and-promote-ecosystem-growth/
Ethereum’s NFT gas usage heads towards a two-year low as inscription demand takes over
https://cryptoslate.com/insights/ethereums-nft-gas-usage-heads-towards-a-two-year-low-as-inscription-demand-takes-over/
Huobi token saw a 90% flash crash, recovery; community blames high sales, market downturn
https://cryptoslate.com/huobi-token-saw-a-90-flash-crash-community-blames-high-sales-market-downturn/
Blockchain.com to shutter asset management division
https://cryptoslate.com/blockchain-com-to-shutter-asset-management-division/
Binance dominates crypto exchange market with 61.8% share despite rampant FUD
https://cryptoslate.com/binance-dominates-crypto-exchange-market-with-61-8-share-despite-rampant-fud/
Starbucks Odyssey Releases ‘The Siren Collection,’ Its First Limited-Edition NFT Drop
https://www.coindesk.com/web3/2023/03/09/starbucks-odyssey-releases-the-siren-collection-its-first-limited-edition-nft-drop/
Cryptocurrency Subreddit Launches New MOON Token Pool on SushiSwap
https://decrypt.co/123060/cryptocurrency-subreddit-launches-new-moon-token-pool-sushiswap
World
Rookie Traders Are Earning $400,000 in One Unlikely Markets Hub
https://www.bloomberg.com/news/articles/2023-03-09/how-much-do-traders-earn-in-australia-some-new-graduates-get-400-000
Biden budget proposal aims to reduce deficit by $74M in 2024 via energy tax on crypto miners
https://cryptoslate.com/biden-budget-proposal-aims-to-reduce-deficit-by-74m-in-2024-via-energy-tax-on-crypto-miners/
“NFT” sweeps across US as the most used crypto slang
https://cryptoslate.com/nft-sweeps-across-us-as-the-most-used-crypto-slang/
NFTs vs Securities: The battle for regulatory classification in the crypto world
https://cryptoslate.com/nfts-vs-securities-the-battle-for-regulatory-classification-in-the-crypto-world/
Senior U.S. House Republican Says CBDCs Could Be ‘Weaponized’ as Political Tool
https://www.coindesk.com/policy/2023/03/09/senior-us-house-republican-says-cbdcs-could-be-weaponized-as-political-tool/
Thought Leadership
Gauntlet’s View on the Shanghai Upgrade
https://medium.com/gauntlet-networks/gauntlets-view-on-the-shanghai-upgrade-29e484926c20
Why Financial Analysts Missed Silvergate’s Red Flags
https://www.coindesk.com/consensus-magazine/2023/03/09/why-silvergate-failed-and-why-nobody-noticed-its-problems-coindesk/
BREAKDOWN: The Real Reasons Silvergate Collapsed (18mins)
https://art19.com/shows/late-confirmation/episodes/865c5ff3-e00a-4ee9-877e-d85e8d0e3f37
Creator of the Metaverse in his 1992 novel, SnowCrash,” Neil Stephenson speaks on the Metaverse, Movies, and Why he still believes in Blockchain (47mins)
https://spotify.link/MnWLlHjI2xb
Bankless: Everything You Missed at ETHDenver
https://open.substack.com/pub/bankless/p/everything-you-missed-at-eth-denver?r=1ivajd&utm_medium=ios&utm_campaign=post
Since 2% of all wallets own 95% of Bitcoin, it's s price is likely manipulated in a way we don't pay attention to.
Bitcoin is often believed to be manipulated, with theories on how this occurs, and these cries often occur when the price starts tanking. Naturally.
However, rarely or never do we hear about it being manipulated to maintain its position as the default "standard". By that I mean, it's price is satoshis being sole indicator of how altcoins are priced in USD. Those who control most of the bitcoin have a strong interest in keeping it this way.
Using Big Media and social influencers to boost this sentiment, this allows them to manipulate the altcoin market for profit.
Altcoins can spark a bull run on Bitcoin.
One overlooked strategy is buying up a dozen or so cheap altcoins to create a bull run on alts leading to a bull run on bitcoin. A bullrun on 10 alts outside of the top 10 going 3x over a short time excites people and leads to a bull run on Bitcoin and everything else. This is much cheaper than buying Bitcoin to spark a bull run on alts. Like 90% cheaper, and can lead to billions of dollars in profit from the altcoin market. Once the altcoins peak, a coordinated FUD event along with s huge dump can create panic selling, allowing for a buyback of discounted Bitcoin.
95% of all Bitcoin is pretty much the entire market st your disposal. Also many major institutions that bought billions in BTC are sister companies of one major company owned and controlled by a handful of people. This includes banks. The same bankers that ban you from using them to buy Bitcoin actually own Bitcoin themselves.
Wow.
Silvergate. Game over!
Silvergate Capital today announced that it is suspending all operations and liquidating its crypto bank. How did it happen?
➖ At the beginning of the year, Silvergate reported an annual loss of almost $1 billion, even though last year, the net profit of the crypto bank was $75.5 million.
➖ The January trend for massive reductions in crypto projects did not bypass Silvergate. Hundreds of former employees are back in the labour market.
➖ At the beginning of February, the US Attorney’s Office initiates an investigation citing Silvergate as a possible money laundering partner for FTX and Alameda.
➖ Problems begin to roll like a snowball. Strategic partnerships are crumbling. Coinbase cuts cooperation with Silvergate and transfers VIP customer service to another bank. It is followed by MicroStrategy, Tether, Paxos, Circle, and also leaving from Silvergate.
➖ White House Press Secretary Karine Jean-Pierre at a briefing that the Presidential Administration is aware of ongoing events in Silvergate. This was the last news before today’s final. This may have been the previous victim of the FTX infection. And maybe not…
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