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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Our website will feature detailed information about our project, including our mission, objectives, and strategies. You will also find updates about our latest developments, news, and events.
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Wednesday, March 8, 2023
Cardano Rumor Rundown March 9, 2023
Hey Everyone!
Let’s go….
Newly Covered Today:
- Liqwid’s Agora Governance instance will hit public testnet in the near future. https://twitter.com/liqwidfinance/status/1633469303440719873
- Virtua cribs can basically become exchange connected galleries today. https://twitter.com/VirtuaMetaverse/status/1633423978680156160
- Do you like Javascript and Cardano? This thread is for you. https://twitter.com/CryptoJoe101/status/1633579944490967049
- It’s going down today! Hearing in the House on the Coordinated Attack on Crypto. https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=408628
- 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
- Even Jerome Powell thinks we need regulatory clarity for crypto. https://www.youtube.com/live/GzVLeabssdE?feature=share&t=2065
- 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
- A member of the House committee actually asked Powell about Operation Chokepoint 2.0. https://www.youtube.com/live/GzVLeabssdE?feature=share&t=6930
- 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:
- While I hate it as a metric, Cardano TVL is definitely looking up. https://defillama.com/chain/Cardano
- Operation Chokepoint 2.0 continues. https://twitter.com/jespow/status/1625887480556974081
- Here’s the rebuttal to the crypto custody rule from Hester Peirce. https://www.sec.gov/news/statement/peirce-statement-custody-021523
- Interesting thread alleging who in the current administration is pushing this attack on crypto and why. https://twitter.com/ThinkingCrypto1/status/1625621477365096449
- 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
- There are now hotkeys for Cardano Island cribs. https://twitter.com/VirtuaMetaverse/status/1626280633029869568
- CNFT Jungle has rolled out some new tracking features. https://twitter.com/ElRaulito_cnft/status/1626156405706170368
- 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
- SEC charged Do Kwon and Terraform Labs today. https://twitter.com/SECGov/status/1626347690853376008
- 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
- The Do Kwon complaint brought us a lot of scary firsts. https://twitter.com/lex_node/status/1626344391248936965
- SundaeSwap governance has concluded its first proposal. https://twitter.com/SundaeSwap/status/1627459486632779776
- 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
- Apparently, state legislators have complete disregard for the way blockchains actually work. https://twitter.com/0xfoobar/status/1627446585582919681
- 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
- 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
- Charles dropped a Voltaire video. https://www.youtube.com/watch?v=4wzsLeU2u0E
- So, Bitcoin Devs patched a vulnerability in 2018 and kept it secret until 2020? https://twitter.com/pcaversaccio/status/1627631035017052163
- Rumors that Grayscale may win its case against the SEC to become a spot ETF. https://twitter.com/AP_Abacus/status/1627737116888166400
- The big contingent staking debate with Charles went down. https://twitter.com/IOHK_Charles/status/1628115203182190594
- CardaStation now has audio chat. This is a big step forward for Cardano metaverse projects. https://twitter.com/Carda_station/status/1627868527087476738
- 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
- Djed says changes to minimums and fees coming soon. https://twitter.com/DjedStablecoin/status/1628116084229558272
- 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
- The February Cardano 360 is today (Feb 23). https://www.youtube.com/watch?v=4aG06ojHyuY
- The Coinbase 10-K says they have outstanding subpoenas from the SEC. https://twitter.com/AP_Abacus/status/1628441057376575489
- The Liqwid v1 audit is complete. https://twitter.com/liqwidfinance/status/1628461640059420672
- 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
- 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
- Something mysterious is afoot at Coinbase. https://twitter.com/coinbase/status/1628444495821012997
- Jpg.store is hinting at $jpg. https://twitter.com/jpgstoreNFT/status/1628861350255505412
- Wut? Cointelegraph wrote a Cardano NFT article? https://twitter.com/Cointelegraph/status/1628317566765780993
- ADA Handle is closing in on 200k handles minted. https://twitter.com/CalvinsBrew/status/1628868258047852547
- Apparently, Cardano Whale has left the building. https://twitter.com/Cinnamon__Bunnn/status/1628809301534863362
- 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
- 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
- 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
- Marlowe is coming to mainnet next month! https://www.youtube.com/live/LIjos6V0r-4?feature=share&t=1701
- 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
- Here’s a twitter link to the biggest section in the article above if you hit the paywall. https://twitter.com/alexstanczyk/status/1629558678541176832
- 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
- This is the kind of tweet the SEC loves to quote in its complaints. https://twitter.com/InputOutputHK/status/1629063058306867200
- Pavia says they’ll reveal District 3 of the plaza before the end of March. https://twitter.com/Pavia_io/status/1630231391303528448
- Charles received an open letter on Reddit and read it on video. https://www.youtube.com/live/A2sHSecdkvc
- 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
- Coinbase will suspend its listing of BUSD. https://twitter.com/CoinbaseAssets/status/1630236377622228994
- It would be nice if things were this simple. https://twitter.com/MetaLawMan/status/1630213937600839681
- 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
- Gensler’s aggressive attacks on crypto are earning him disapproval even among his own party. https://twitter.com/RonwHammond/status/1630277258286977025
- CZ is getting pissed about all the negative articles showing up. https://twitter.com/cz_binance/status/1630466326102777859
- It looks like your Cardano Island Crib can now be a gallery to sell your NFTs. https://twitter.com/VirtuaMetaverse/status/1630703257873006593
- Rep. Tom Emmer came out strongly against the US CBDC. https://twitter.com/GOPMajorityWhip/status/1630629291837800457
- February was the “highest volume month” for Minswap. https://twitter.com/MinswapDEX/status/1630584366878392323
- 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
- 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
- Reuters is posting about World Mobile. https://twitter.com/Reuters/status/1630996321955115010
- Pavia is looking beautiful in footage in the latest Dev Update. https://youtu.be/DkO8MetsVYo?t=119
- 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
- Liqwid encountered a delegation problem and explained the impact today. https://twitter.com/liqwidfinance/status/1631089402486173700
- Three Genius Yield stakepools are retiring. https://twitter.com/GeniusyieldO/status/1631380611557621760
- Anzens has released its latest newsletter where you can learn all about USDA. https://twitter.com/AnzensOfficial/status/1631001911464787984
- Here’s a view of an amphitheater in Pavia. https://twitter.com/Pavia_io/status/1631278184422576133
- Looks like treasury is very much pushing forward on their CBDC agenda. https://home.treasury.gov/news/press-releases/jy1314
- Reports: Multiple crypto companies are winding down their relationship with Silvergate. https://twitter.com/tier10k/status/1631338664180555804
- 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
- Here’s IOG explaining what Ouroboros Genesis solves in just a single post. https://twitter.com/InputOutputHK/status/1631214882702884865
- 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
- Rogue Galaxies is pulling back on some of their initial vision and re-focusing their plans. https://twitter.com/Padierfind/status/1632057117191417856
- 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
- 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
- People are mentioning that FutureFest could host the 2023 Cardano Virtual Summit. Interesting idea. https://twitter.com/CWorld_Josh/status/1632097173696569344
- 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
- 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
- Jpg.store got some coverage in Bloomberg and Yahoo Finance. https://twitter.com/jpgstoreNFT/status/1632798873948233728
- They show us once again that their definition of “liquid staking” is not the same as ours. https://twitter.com/StakeWithPride/status/1632870453391024128
- NFT volume has seen better days. https://twitter.com/SubcriticalTV/status/1632896018152050688
- 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
- John Woods (now CTO of Algorand) made a beautiful video on wallet security. https://twitter.com/JohnAlanWoods/status/1632799303512014850
- 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
- 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
- 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
- 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
- The Coinbase Chief Legal Officer will be testifying before the House Financial Services Committee on Thursday (March 9). https://twitter.com/iampaulgrewal/status/1633151254418579458
- 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
- Powell says interest rates are likely headed higher than the Fed expected. https://twitter.com/FirstSquawk/status/1633121298309345280
~Army of Spies
Thursday, 9th March 2023
The Daily Spin. Trillion Thursday Edition. The global crypto market capitalization fell under the $1T mark today where it has been over since Jan 20, as Jerome Powell continues to deliver testimony to the House Senate Committee. With the likelihood of an upcoming 50bps rate hike increasing and the market pricing this in, we have the CPI data print on the 14th to look forward to as an indicator and possible mover of the markets in anticipation of the FOMC Meeting that will be held on the 21st-22nd and announce the decision to further increase interest rates or not.
Silvergate Capital, formally announced today that it will be closing operations and going into liquidation – a few days after having shut down the Silvergate Exchange Network (SEN) which constituted many of the largest centralized crypto exchanges and accounted for the lion share of fiat on-ramping in USA. Glassnode has kept an eye on the FED addresses that hold approx. 40K BTC attained from seizures such as the Silk Road, and has reported that almost 10K BTC has been sent to addresses belonging to Coinbase. Despite the fears of an imminent sell-off, consumer confidence has remained high throughout the FTX collapse. In addition, a new report claims that 90% of Bitcoin mining was powered by sustainable energy sources.
What’s in store for the “interchain” future, and who is responsible for what role in bringing that future about? Cardano DeFi tokens hit a new ATH at $341M, MEXC has reported its highest volume ever due to a reduction in trading fees. Shibarium (BONE) is set for public beta rollout and sees 23% gains on their token, and the Metacade token pre-sale has raised $9.3M with 2 rounds remaining. Biden is to propose changes to crypto tax rules, and CFTC Chair Rostin Benham deems Ethereum, stablecoins to be commodities – in contrary to SEC’s Gary Gensler, who has been losing cases left and right in court deeming everything aside from Bitcoin to be an unregistered security. Current cases to keep an eye on are SEC vs. Ripple, SEC vs. Greyscale (Bitcoin Spot ETF), and the latest, SEC vs. Binance. Meanwhile, the Financial Action Task Force (FATF) is currently holding a plenary session in Paris discussing the global adoption of cryptocurrencies… 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
“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, Mar 10 (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)
Crypto Observers Look to Treasury Yields for Cues as Bitcoin Remains Comatose
https://www.coindesk.com/markets/2023/03/07/crypto-observers-look-to-treasury-yields-for-cues-as-bitcoin-remains-comatose/
Feds consolidate 40k BTC, prompting fears of imminent sell-off
https://cryptoslate.com/feds-consolidate-40k-btc-prompting-fears-of-imminent-sell-off/
Silvergate Bank will halt operations and undergo liquidiation
https://cryptoslate.com/silvergate-bank-will-halt-operations-and-liquidate-assets/
Bitcoin exchange deposits decline, mimicking 2019’s bearish trend
https://cryptoslate.com/insights/bitcoin-exchange-deposits-decline-mimicking-2019s-bearish-trend/
Bitcoin holds firm on strong economic data, while Powell testifies to House discussing CBDC
https://cryptoslate.com/insights/bitcoin-holds-firm-on-strong-economic-data-while-powell-testifies-to-house-discussing-cbdc/
Consumer confidence in crypto remains high despite fallout from FTX
https://cryptoslate.com/consumer-confidence-in-crypto-remains-high-despite-fallout-from-ftx/
Investors adopt risk-off approach as Bitcoin futures OI plummets to YTD low
https://cryptoslate.com/insights/investors-adopt-risk-off-approach-as-bitcoin-futures-oi-plummets-to-ytd-low/
Third-largest YTD Bitcoin exchange withdrawal driven by whales
https://cryptoslate.com/insights/third-largest-ytd-bitcoin-exchange-withdrawal-driven-by-whales/
Cardano’s DeFi ADA tokens TVL touches new all-time high of 341M
https://cryptoslate.com/cardanos-defi-ada-tokens-tvl-touches-new-all-time-high-of-341m/
Sustainable sources mined over 90% of BTC during January, February
https://cryptoslate.com/sustainable-sources-mined-over-90-of-btc-during-january-february/
Competitive Landscape
Does an interchain future mean dApps developers have the responsibility to unify?
https://cryptoslate.com/does-an-interchain-future-mean-dapps-developers-have-the-responsibility-to-unify/
Gemini denies reports of banking relationship ending with JPMorgan
https://cryptoslate.com/gemini-denies-rumors-of-banking-relationship-ending-with-jpmorgan/
MEXC Global Reports Record Volume Since Slashing Trading Fees
https://cryptoslate.com/press-releases/mexc-global-reports-record-volume-since-slashing-trading-fees/
Marathon says it has repaid Silvergate loan, terminated credit facility
https://cryptoslate.com/marathon-says-it-has-repaid-silvergate-loan-terminated-credit-facility/
Shibarium set for public beta rollout – BONE token sees 23% spike
https://cryptoslate.com/shibarium-set-for-public-beta-rollout-bone-token-sees-23-spike/
Metacade Token Sale Advances to Stage 6 with $9.3m Sold and Only 2 Stages Left
https://cryptoslate.com/press-releases/metacade-token-sale-advances-to-stage-6-with-9-3m-sold-and-only-2-stages-left/
World
Biden to propose changing crypto tax rules: WSJ
https://cryptoslate.com/biden-to-propose-changing-crypto-tax-rules-wsj/
CFTC chair Rostin Benham deems Ethereum, stablecoins to be commodities
https://cryptoslate.com/cftc-chair-rostin-benham-deems-ethereum-stablecoins-to-be-commodities/
UK FCA tightens control on unregistered crypto ATMs
https://cryptoslate.com/uk-fca-tightens-control-on-unregistered-crypto-atms/
FATF holds second Plenary in Paris, updates on worldwide crypto adoption
https://cryptoslate.com/fatf-holds-second-plenary-in-paris-updates-on-worldwide-crypto-adoption/
New legal opinion paper looks into the legality of staking services
https://cryptoslate.com/new-legal-opinion-paper-looks-into-the-legality-of-staking-services/
Thought Leadership
Retail investors’ habits vary between exchanges when it comes to Bitcoin
https://cryptoslate.com/insights/retail-investors-habits-vary-between-exchanges-when-it-comes-to-bitcoin/
Elon Musk has ambitions of making Twitter the world’s biggest financial institution
https://cryptoslate.com/elon-musk-has-ambitions-of-making-twitter-the-worlds-biggest-financial-institution/
The Defiant: What is ERC-4337 and why does it matter?
https://www.youtube.com/shorts/wzPrZhY5ps8
Data.ai Report: State of Mobile 2023
https://drive.google.com/file/d/1ydN_BfR4lOaUsKbQeY-UIkpm1WoTfl3f/view?usp=share_link
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