The Daily Spin. Turmoil Tuesday Edition. Check out today’s Bankless Podcast feat. Brian Armstrong of Coinbase, as the hosts touch upon almost every topic of interest in the crypto industry (and the US competitive environment) with one of the great builders in the field. Brian offers great insight into growing his 10-year startup to where it is today, the challenges of 3x-ing headcount in a year and quite pertinently to Coinweb, the future vision for Base L2, Wallet-as-a-Service, and other future products planned in Coinbase’s roadmap.
All the other news and media are currently fixated on the obvious, FDIC bail-out of Silicon Valley Bank and takeover of Signature Bank; the latter being shown to be an interesting case where the bank was not insolvent but was still taken down. Less so is the news focused on Jerome Powell’s role and upcoming FOMC decision, or the underperformance of the S&P500 relative to Bitcoin.
BitMEX halted trading, Justin Sun’s Poloniex and Houbi exchanges are set to merge under one brand, Constellation Network launches Stargazer Wallet. Helium protocol is on life support. China is to resume issuance of Visas after Covid-Zero policy fades to black. Nigerians really don’t like their CBDC. In TL section we have DAOs, Bitcoin NFTs, and zk-SNARKs EIL15 (not “5”).
Other news of worthy mention include Mastercard and Visa’s continuing strategy to operate in web3, resulting in Crypto.com launching Visa cards with Apple Pay in Brazil, Gate.io launching Visa crypto debit card for the EU as prime examples of the competitive environment. Uniswap v3’s code will become free to fork after its license expires on April 1, 2023. Meta is sunsetting their foray into NFTs. Binance GBP funding on/off ramp is to be stopped in May. And the first massive hack of the year has been printed on the backs of Euler Finance – to the tune of $200M.…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)
Blockchain Events curated by CryptoNomad
https://docs.google.com/spreadsheets/d/1KtyFTb_W282bQ1xoVA5rlTwTDz3QfhswWIVpXhpbQIc/edit
On the Block(chain)
Fed rate expectations flip as US inflation data may take backseat to banking tumult
https://www.theblock.co/post/219388/fed-rate-expectations-flip-as-us-inflation-data-may-take-backseat-to-banking-tumult
Meta ‘Winding Down’ Instagram NFT Support to Focus on Creators
https://decrypt.co/123379/instagram-winding-down-nfts-to-focus-on-creators-and-businesses
Dogecoin, Zcash, Litecoin resolve possible exploit; 280 other chains may be at risk
https://cryptoslate.com/dogecoin-zcash-litecoin-resolve-possible-exploit-280-other-chains-may-be-at-risk/
BitMEX halts all trading activities temporarily
https://cryptoslate.com/bitmex-halts-all-activities-for-a-short-time-temporarily/
Circle To ‘Stand Behind’ USDC, Cover $3.3 Billion Shortfall Held in Silicon Valley Bank
https://decrypt.co/123224/circle-to-stand-behind-usdc-cover-3-3-billion-shortfall-held-in-silicon-valley
bank
Binance GBP Funding On-/Off-Ramp to Be Suspended in May
https://www.coindesk.com/business/2023/03/13/binance-gbp-funding-onoff-ramp-to-be-suspended-in-may/?utm_source=substack&utm_medium=email
Developers will be free to fork Uniswap v3 protocol after BSL expires on April 1
https://www.theblock.co/post/218750/uniswap-v3-will-become-free-to-use-after-business-license-expires-on-april-1?utm_source=substack&utm_medium=email
Euler Finance was exploited in a flurry of txs on Ethereum (one hack tx: https://etherscan.io/tx/0xc310a0affe2169d1f6feec1c63dbc7f7c62a887fa48795d327d4d2da2d6b111d), leading to the loss of ~$197m from the project
https://twitter.com/peckshield/status/1635229594596036608?s=20
Competitive Landscape
Constellation Network’s Stargazer Wallet: Key Features
https://medium.com/constellationlabs/constellation-networks-stargazer-wallet-key-features-9a11a0cd87e6
IRON SPIDR: A Universal Blockchain Toolkit for the U.S. Federal Government
https://medium.com/constellationlabs/iron-spidr-a-universal-blockchain-toolkit-for-the-u-s-federal-government-f9bbfa87cd23
Helium on last leg in Lebanon despite high adoption as profit, utility remain elusive
https://cryptoslate.com/helium-on-last-leg-in-lebanon-despite-high-adoption-as-profit-utility-remain-elusive/
Silicon Valley Bank UK arm acquired by HSBC for 1 pound
https://cointelegraph.com/news/silicon-valley-bank-uk-arm-acquired-by-hsbc-for-one-pound?utm_source=substack&utm_medium=email
Crypto.com Visa Cards Now Available With Apple Pay in Brazil
https://crypto.com/product-news/apple-pay-brazil-en?utm_source=substack&utm_medium=email
Gate.io launching Visa crypto debit card in Europe
https://www.theblock.co/post/218345/gate-io-launching-visa-crypto-debit-card?utm_source=telegram1&utm_medium=social
Mastercard, Visa Ink Fresh Crypto Debit Cards With Web3 Startups
https://blockworks.co/news/mastercard-visa-crypto-debit-cards?nocache=&utm_source=substack&utm_medium=email
Justin Sun’s Huobi and Poloniex merge under Huobi brand
https://crypto.news/justin-suns-huobi-and-poloniex-merge-under-huobi-brand/?utm_source=substack&utm_medium=email
World
Global Financial Stocks Lose $465 Billion on SVB Impact Worry
https://www.bloomberg.com/news/articles/2023-03-14/global-financial-stocks-lose-465-billion-on-svb-impact-worry
S&P 500 goes negative YTD; almost entire regional bank stocks halted due to volatility
https://cryptoslate.com/insights/s-chaos-in-bank-stocks-halted-due-to-volatility/
US Regional Banks Remain Under Pressure as First Republic Sinks
https://www.bloomberg.com/news/articles/2023-03-13/us-regional-banks-remain-under-pressure-as-first-republic-sinks
US Backstops Bank Deposits to Avert Crisis After SVB Collapse: What's Next?
https://www.bloomberg.com/news/articles/2023-03-13/us-regional-banks-remain-under-pressure-as-first-republic-sinks
Uber, Lyft Score Victory as California Court Affirms Right to Treat Drivers as Contractors
https://www.wsj.com/articles/uber-lyft-score-victory-as-california-court-affirms-right-to-treat-drivers-as-contractors-642bdd67
SVB Collapse Trains Spotlight on Softbank’s Startup Financing
https://www.bloomberg.com/news/articles/2023-03-13/svb-collapse-trains-spotlight-on-softbank-s-startup-financing
Federal Reserve will re-examine its own oversight of Silicon Valley Bank
https://cryptoslate.com/federal-reserve-announces-review-into-silicon-valley-bank-failure/
China Is Set to Resume Issuing Visas as It Emerges From Covid Zero
https://www.bloomberg.com/news/articles/2023-03-13/china-set-to-resume-visa-issuances-as-it-emerges-from-covid-zero
Nigerians’ Rejection of Their CBDC Is a Cautionary Tale for Other Countries
https://www.coindesk.com/consensus-magazine/2023/03/06/nigerians-rejection-of-their-cbdc-is-a-cautionary-tale-for-other-countries/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
Thought Leadership
The Rise of Decentralized Autonomous Organizations: Transforming the Future of Business and Society
https://klevernews.com/global-news/the-rise-of-decentralized-autonomous-organizations-transforming-the-future-of-business-and-society/
zk-SNARK Concepts Explained Like You’re 15
https://sjkelleyjr.medium.com/zk-snark-concepts-explained-like-youre-15-54755f87c6d1
The History of Bitcoin NFTs – A Step-by-Step Timeline
https://nftlately.com/the-history-of-bitcoin-nfts-a-step-by-step-timeline/?utm_source=telegram&utm_medium=nftlatelynews
Bankless Shows 162 - The Coinbase Long Game with Brian Armstrong (94mins)
https://youtu.be/vv82NUgg4Qs