500 Episodes of Unchained! 🎉
In today's edition: 🎙️ New episode on the 500 milestone, ⛔ Uniswap fees, 💲 USDC on Arbitrum, 🥇 MakerDAO's reserves, and more!
What’s Poppin’?
by Samyuktha Sriram
Uniswap DAO Rejects Fee Switch Proposal
A proposal to turn on protocol fees for liquidity providers narrowly missed being passed by the Uniwap community.
Circle to Launch Native USDC on Arbitrum
The Arbitrum-based USDC will be the official version of the stablecoin, replacing the existing Ethereum-based bridged version.
MakerDAO to Drop $500 Million in Paxos Dollar Stablecoin From Reserve
The MakerDAO community has voted to remove the entirety of Paxos Dollar (USDP) stablecoins held in its reserves.
Binance to Delist Privacy Coins in 4 European Countries
Binance will delist 12 privacy coins, including Monero and Zcash, in France, Italy, Poland, and Spain.
New Pod Today!
Laura Shin Reflects on 500 Episodes of ‘Unchained’
If a year in crypto is like a decade in other industries, then Laura Shin has seen a lot. To commemorate the 500th episode of “Unchained” (actually, there’s about 150 more under a different brand name), Laura hops on the other side of the microphone to field questions from Unchained Contributing Editor Zack Seward about standout moments dating back to 2018.
From the early rise of Binance to a charged interview with Terra founder Do Kwon, Shin takes you behind the scenes for rare insights into her process, her favorite moments, and how key episodes have aged.
Daily Bits…✍️✍️✍️
🗳️ The MakerDAO community approved a proposal to invest an additional $1.28 billion in U.S. government bonds via BlockTower Capital, using a newly-established real-world asset vault.
🖥️ The Commodity Futures Trading Commission (CFTC) is considering a rules revision to account for risks associated with "evolving technologies" such as cryptocurrencies and artificial intelligence.
📈 Despite the overall stablecoin market shrinking, Tether's USDT rebounded to an all-time high market capitalization of $83.2 billion, fully recovering from the setback following the Terra blockchain project's collapse last year.
⏱️ Silvergate Bank, the crypto-friendly institution, agreed to the Federal Reserve's order to submit a self-liquidation plan within 10 days, marking a step toward winding down the bank's operations.
🔄 The Synthetix's community greenlit a strategy to shift about $150,000 worth of lingering positions from the soon-to-close version one perpetuals market to version two, by gradually raising margin requirements to eventually liquidate all v1 positions.
🌍 The Financial Action Task Force (FATF) criticized Qatar for inadequate enforcement of its 2019 crypto ban, urging the Qatar Central Bank to actively identify and penalize violating crypto companies.
Today in Crypto Adoption...
🔺 Avalanche, a Layer 1 blockchain network, recorded over a million monthly active users for the first time, spurred by the recent launch of AvaCloud, a platform that enables developers to easily create subnets or custom blockchains.
📊 Coinbase Derivatives Exchange will start providing Bitcoin and Ether futures for institutional clients from June 5, in response to a rise in institutional demand following the launch of its nano Bitcoin and Ether contracts last year.
✈️ All Nippon Airways (ANA), Japan's biggest airline group, introduced an NFT marketplace on the Ethereum blockchain, featuring aviation-related digital collectibles, including photography and 3D airplane models.
The $$$ Corner…
⛏️ CleanSpark procured 12,500 Bitmain bitcoin mining machines for $40.5 million, aiming to bolster its computational power by 1.76 exahash/second and move closer to its 16 EH/s goal by the end of 2023.
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How to Earn Interest on Stablecoins: A Step-by-Step Guide
You can earn interest on your stablecoin holdings in the centralized and decentralized finance markets.
📈 Your Market Update 📉
BTC is up .7%, trading at $27,083
ETH is up 1.5%, trading at $1,890
BTC dominance: 44.18%
Crypto market cap: $1.19 trillion
*All data as of today, 6:30 am ET
Recommended Reads
Patience Is Beautiful by Arthur Hayes
“Regulation by Enforcement” in the Digital Asset Industry: A Lagging Response to Stale Facts by Karen Ubell, Mitzi Chang, and Adam Bruce Fovent
CoinDesk: Why Elizabeth Warren Is Wrong About Crypto and the Fentanyl Epidemic
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