🪂 5 Best Airdrop Practices for Crypto Protocols
In today’s edition: 📉 80% of Binance-listed tokens down, 🇪🇺 Kraken stands firm on USDT in Europe, and more!
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In this episode, Evan Zinaman, founder and principal at Trailbreak, delves into the first-of-its-kind case of the Bueno brothers, who face Department of Justice charges for exploiting Maximal Extractable Value (MEV) in a cryptocurrency scheme. Accused of manipulating transaction ordering to create an arbitrage opportunity, the brothers are charged with conspiracy to commit wire fraud as well as wire fraud itself.
Zinaman explores the broader implications of MEV exploitation, and addresses critics who say that the MEV exploiters just got a taste of their own medicine, and the need for block building participants to consider their legal and compliance responsibilities.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
What’s Poppin’?
by Sam Sriram and Sage Young
5 Best Airdrop Practices All Crypto Protocols Should Follow
In an increasingly competitive landscape, the importance of adhering to good airdrop practices cannot be overstated.
80% of Tokens on Binance Are Down Since Listing Date: SwissBorg Researcher
The venture capitalist and centralized exchange cartel have rigged the game for crypto, says SwissBorg’s “tradetheflow.”
Kraken Has ‘No Plans’ to Delist USDT in Europe Ahead of MiCA Guidance
Kraken’s head of asset growth and management said the crypto exchange has no plans to delist USDT in Europe at this time.
Daily Bits… ✍️✍️✍️
🚔 The alleged exploiter of Solana memecoin platform Pump.Fun, Jarett Dunn, was arrested in London after being tracked down by a private intelligence firm.
🔐 Ethereum co-founder Vitalik Buterin addressed concerns about the network's decentralization in a blog post, discussing issues like MEV, liquid staking, and node hardware requirements, and proposed solutions through smart protocol designs.
🛑 LayerZero Labs CEO Bryan Pellegrino announced a temporary pause in the Sybil "bounty-hunter" process for the platform's airdrop due to an overwhelming number of reports and appeals, describing the situation as a "warzone."
🔙 Gemini Earn will begin returning 97% of customers' crypto assets by the end of the month following the approval of Genesis's Chapter 11 bankruptcy plan, which aims to return about $3 billion in cash and assets to creditors.
💸 U.S. authorities arrested Daren Li and Yicheng Zhang for laundering over $73 million through an international "pig butchering" scam, converting the illicit funds into USDT.
💻 Crypto personality Thomas Sfraga, also known as "TJ Stone," pleaded guilty to wire fraud charges for promising investors high returns on a fake cryptocurrency wallet and using the funds for personal gain, potentially facing up to 20 years in prison.
🎁 ZkSync, an Ethereum Layer-2 network, hinted that a governance token airdrop could happen by the end of June, coinciding with its final protocol upgrade before community governance begins.
🖼️ Dolce & Gabbana is being sued for delays in delivering its DGFamily NFTs, with a customer claiming the mishap resulted in significant financial losses and unusable digital outfits.
🇳🇬 A Nigerian court denied bail for Binance executive Tigran Gambaryan, who is facing charges of tax evasion and money laundering, and ruled that Binance can be served the charges through him.
Today in Crypto Adoption...
📊 Morgan Stanley disclosed that it held nearly $270 million worth of Grayscale’s Bitcoin Trust (GBTC) as of the end of March, likely on behalf of its wealth management clients rather than as a direct investment.
What Do You Meme?
📈 Your Market Update 📉
BTC is down .3%, trading at $67,099
ETH is down .1%, trading at $3,098
BTC dominance: 51.9%
Crypto market cap: $2.55T
*All data as of today, 07:50 am ET. Source: CoinGecko
Recommended Reads
Blockworks: Don’t dismiss the misunderstood techno-optimist voter
Coinbase Institutional Monthly Outlook: Expectations on Ethereum
a16z crypto: 8 reasons why blockchain mechanism design is hard
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