A Big Day for… Bankruptcies? 🤨
In today's edition: 🚀 OPNX is launched, ❌ Paxful shuts down, 📈 ETH rockets, and more!
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On the Pod…
Is the Government Trying to Kill Off Crypto in the US?
What’s Poppin’?
by Samyuktha Sriram
3AC Founder’s OPNX Exchange Goes Live
The failure of a $10 billion crypto hedge fund and Twitter-served subpoenas hasn’t stopped 3AC founders Kylie Davies and Su Zhu from launching a new exchange.
Bitcoin Marketplace Paxful Suspends Operations
Peer-to-peer Bitcoin marketplace Paxful has shut down after key staff departed following a lawsuit filed by the company’s co-founder.
Tether Used Signature Bank’s Signet to Access US Financial System: Report
Tether directed its crypto clients to use Signature Bank’s payments platform as a pathway to exchange U.S. dollars for USDT.
On-Chain Data Shows No Evidence of Investors Fleeing Binance: Glassnode
On-chain analysts at Glassnode observed a stablecoin shuffle at Binance, but no widespread market concern about the crypto exchange’s standing.
Daily Bits…✍️✍️✍️
The SEC is reportedly close to reaching a settlement with ex-Coinbase product manager Ishan Wahi and his brother Nikhil over insider trading charges against them, according to a joint motion filed in court.
Marathon Digital Holdings mined a record 825 bitcoins in March and 2,195 bitcoins in Q1, driven by a 64% increase in its operational hash rate since the start of the year.
Uniswap V3 has been forked by developers after its Business Source License (BSL) expired, and the fork has already attracted $123 million in total value locked (TVL), with the majority of the capital locked on the Binance Smart Chain (BSC).
OpenSea launched OpenSea Pro, a marketplace that offers more robust trading tools, zero marketplace fees, and NFT-based trading rewards.
The $$$ Corner…
LayerZero Labs, a blockchain infrastructure provider, closed a $120 million Series B funding round at a $3 billion valuation.
Polyhedra Network, a Web3 infrastructure provider powered by zero-knowledge (ZK) proofs, raised $15 million in a pre-Series A funding round led by Polychain Capital.
P2P led a $13.5 million investment round for Delphi Labs, the incubation arm of crypto research firm Delphi Digital.
DeFi hub Nibiru Chain raised $8.5 million in seed funding at a $100 million valuation, with plans to launch its testnet and stablecoin this summer.
Astria, a modular blockchain company, garnered $5.5 million in a funding round aimed at creating a shared sequencer network for the deployment of censorship-resistant rollups.
Franklin secured $2.9 million in a seed funding round led by gumi Cryptos Capital and CMT Digital, among other investors, to expand its tax-compliant cash and crypto payroll services for startups and businesses.
🤓 Learn
What Is NFT Wash Trading? A Market Manipulation Technique
Wash trading is a method for artificially inflating trading volumes. Some see it rearing its head in the NFT space.
What Do You Meme?
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📈 Your Market Update 📉
BTC is up .5%, trading at $28,495
ETH is up 2.7%, trading at $1,912
BTC dominance: 45.56%
Crypto market cap: $1.25 trillion
*All data as of today, 7 am ET
Recommended Reads
Kofi on vector embeddings:
Alex on the game theory of airdrops:
Decrypt: End of Zero-Fee Program Hit Binance Market Share Harder Than CFTC Action: Research
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