🪖 A War Against DeFi?
In today’s edition: 🚶♂️ $130M exits Marginfi after CEO resigns, 🛡️ Worldcoin introduces privacy features, 📝 Tax filing tips for crypto investors, and more!
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Union is the first sovereign interoperability layer pioneering trustless bridging between appchains, L1s, and L2s without depending on trusted third parties, oracles, multi-signatures, or MPC. Looking to future-proof blockchain bridging, it is the only protocol that fully addresses the sovereign bridging trilemma, unlocking a horizontally-scaled future.
What’s Poppin’?
by Michael Bodley, Sam Sriram and Cortney de la Rosa
UNI Drops 16% as SEC Targets Uniswap Labs
The SEC warned Uniswap Labs of an impending enforcement action in a Wells notice on Wednesday. The DeFi protocol’s founder Hayden Adams said he was disappointed, but not surprised.
$130 Million Withdrawn From Marginfi as CEO Departs
Marginfi CEO Edgar Pavlovsky has resigned from his role, saying he doesn’t agree with “the way things have been done internally and externally.”
Worldcoin Adds Privacy Features as Regulators Crack Down on Project
Worldcoin’s token has fallen by 30% over the past 30 days.
6 Last-Minute Tax Filing Tips for Crypto Investors
It’s especially important for last-minute filers to understand how crypto assets are taxed and make sure they’re filing everything correctly.
Daily Bits…✍️✍️✍️
📉 Grayscale Bitcoin Trust recorded its lowest daily net outflow at $17.5 million, signaling a potential market equilibrium, according to CEO Michael Sonnenshein, amid a broader context of significant recent outflows.
🔐 Voyager Digital progressed in its bankruptcy proceedings by securing $484 million from settlements, notably with FTX, aiming to cover 25% of creditor claims in the aftermath of the crypto market downturn.
🇦🇺 The Australian Securities and Investments Commission's legal pursuit of wallet provider Finder echoes SEC's stringent regulatory stance, stirring debates on the impact of “regulation by enforcement” in the crypto industry.
🔍 SushiSwap's community is debating a controversial plan to move more than $40 million from its treasury to a new development vault, with the initial vote passing.
Today in Crypto Adoption...
🌏 Hong Kong is on the verge of approving the first set of spot Bitcoin ETFs, potentially launching as soon as next week.
The $$$ Corner…
⛏️ Bitcoin miner maker Auradine closed $80 million in funding prior to the upcoming halving.
🏔️ Alpen Labs, a Bitcoin layer 2 developer, emerged from stealth with $10.6 million in funding to develop Bitcoin rollup infrastructure using zero-knowledge proofs, aiming to introduce smart contracts to the Bitcoin network.
📊 Data labeling company Sapien secured $5 million to improve its AI and expand its team.
🫂 Tomo, a social media app with built-in rewards for creators, raised $3.5 million.
💸 Stream Trading, a company building a crypto derivatives platform on the Ethereum blockchain, secured $1.5 million in seed funding.
What Do You Meme?
Recommended Reads
Unchained: What is EIP-7251 (MaxEB) in Ethereum? A Beginner’s Guide
Protos: What does Avraham Eisenberg’s ‘code is law’ defense mean for DeFi?
Forbes Crypto: How RWAs In Web3 Are Impacting Consumer Experience
📈 Your Market Update 📉
BTC is up 2.4%, trading at $70,659
ETH is up 1.6%, trading at $3,574
BTC dominance: 50.37%
Crypto market cap: $2.76T
*All data as of today, 06:15 am ET. Source: CoinGecko
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