🥶 $65 Million in Frozen Assets
In today's edition: 🔫 SEC fires back at Coinbase, 🗣️ DCG slams Gemini lawsuit, 🦜 Vitalik's advice to Bitcoin, and more!
What’s Poppin’?
by Samyuktha Sriram
Tether and Circle Freeze Over $65 Million in Assets Tied to Multichain Exploit
The stablecoin issuers froze millions of dollars’ worth of assets tied to addresses associated with the Multichain hacker.
DCG Calls Gemini Lawsuit a ‘Publicity Stunt’ From Cameron Winklevoss
The Digital Currency Group said that any suggestion of wrongdoing on its part was baseless, defamatory and completely false.
SEC Says Coinbase Understood That Securities Laws Applied to Its Business Before Lawsuit
Coinbase repeatedly informed shareholders that assets on its platform could be deemed securities, the securities regulator claimed in a new filing.
Vitalik: Bitcoin Needs Plasma or zk Rollups to Be More Than Payments
The Ethereum cofounder suggested that the solution to Bitcoin’s issues with scaling could lie in solutions like rollups, but the network’s “weird politics” could hold it back.
On the Pod…
Daily Bits…✍️✍️✍️
⚖️ Terraform Labs cofounder Daniel Shin, indicted on several charges including fraud, did not attend the first preliminary hearing held by the Seoul Southern District Court.
📈 Grayscale added Lido's token to its DeFi Fund, making it the fund's second largest component, following Uniswap.
🔒 Tether froze approximately $2.5 million in USDT connected to a suspected exploit of the Multichain protocol, which is linked to the Fantom Foundation breach.
📉 Binance's market share among exchanges lacking USD support has decreased from 72% to 58%, coinciding with the departure of several top executives.
🚨 Impostors are posing as renowned Crypto Twitter users on Meta's newly-launched microblogging app, Threads, as the platform's sign-ups near 100 million.
🔗 Thomas Braziel, cofounder of 507 Capital, is establishing 117 Partners, a new firm blending investment and advisory work to navigate the landscape of crypto-related bankruptcies.
The $$$ Corner…
💰 Shardeum, a Layer 1 blockchain implementing dynamic state sharding, raised $5.4 million to enhance its ecosystem and support its mainnet launch later this year.
Bringing institutional-grade financial products on-chain, starting with the tokenization of US Treasuries and money market funds.
What Do You Meme?
Learn 🤓
What Are Ethscriptions? A Beginner’s Guide
Ethscriptions provide a new way to create image-based NFTs on the Ethereum blockchain, taking inspiration from the emergence of Bitcoin Ordinals.
📈 Your Market Update 📉
BTC is down .2%, trading at $30,191
ETH is down .2%, trading at $1,862
BTC dominance: 48.16%
Crypto market cap: $1.22 trillion
*All data as of today, 7:12 am ET
Recommended Reads
Blockchain and regenerative finance: charting a path toward regeneration
MetaLawMan on the SEC v. Coinbase case
Ryan Selkis on the “SEC’s utter incompetence”
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