🎈 Another Airdrop, Another Controversy
In today’s edition: 🤝 BlockFi's FTX settlement, 💡 How do spot ETFs' source BTC?, 🤖 Satoshi's legacy in an AI world, 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 John Metais and Sam Sriram
What’s Going on With Wormhole’s Airdrop?
Token bridging platform Wormhole plans to airdrop 617 million W tokens to eligible users, but some members of the community are contending that allocations have been unfairly determined.
BlockFi Settles With FTX and Alameda for $875 Million
A judge is still to sign off on a settlement that will see BlockFi receive $874.5 million in claims against FTX and Alameda Research, while FTX will drop its claims against BlockFi.
How the Bitcoins in Your ETF Get Sourced: The Real Story
The founder and CEO of Custodia Bank recently raised fears, and hopes of higher bitcoin prices, when she wrote that there was only a limited supply of bitcoin available for the fast-growing spot ETFs. Here’s what she got wrong, however.
Opinion: Satoshi’s Legacy Is Capitalism’s Software Upgrade in an AI World
by Nils Pihl
Just as Airbnb and Uber increased the utilization rate of our homes and cars, decentralized physical infrastructure networks (DePINs) are helping us deploy and utilize our computers and sensors more productively.
Daily Bits…✍️✍️✍️
🇺🇸 Crypto political action committees influenced the outcomes of congressional primaries, particularly opposing U.S. Representative Katie Porter's California Senate bid, highlighting the emerging impact of crypto dollars in political campaigns.
💼 MicroStrategy increased its convertible debt offering to $700 million, aiming to acquire more bitcoin, with the conversion price set at a significant premium to the market.
🔒 Digital Currency Group and Barry Silbert filed motions to dismiss the New York Attorney General's lawsuit, challenging accusations of concealing losses and defrauding investors.
🔄 Avalanche introduced the Durango upgrade and the Teleporter tool, aimed at enhancing interoperability across its subnet ecosystem to reduce network fragmentation.
🪙 Uniswap's UNI token rose by 20% as a proposal for a revenue-sharing mechanism for token holders moves towards approval, potentially setting a precedent for other DeFi protocols and stirring regulatory interest.
🚨 South Korea seeks Interpol's aid for Do Kwon's extradition, emphasizing its priority over the US in the request following a Montenegrin court's retrial decision.
🇪🇸 Spain imposed a temporary ban on Worldcoin, citing privacy concerns and GDPR violations, as the project's iris-scanning model faces scrutiny.
Today in Crypto Adoption...
📊 Figment and Apex Group are launching Ethereum and Solana staking ETPs on the SIX Swiss Exchange, offering institutions a new avenue for accessing staking rewards.
The $$$ Corner…
💰 Zama garnered $73 million for developing applications with 'Fully Homomorphic Encryption,' backed by investors including Solana and Ethereum co-founders.
🔐 Firewall, a blockchain security firm, secured $3.7 million in pre-seed funding to advance its technology for protecting blockchain networks against smart contract exploits through innovative mechanisms.
🛡️ Hedgehog protocol raised $1.5 million to develop a derivative token reflecting crypto transaction fee prices, offering a hedging tool against fee volatility for protocols and businesses.
What Do You Meme?
Recommended Reads
Opyn Research: Everything is a Perp
DL News: Experts see two factors driving Ethereum to $10,000 in catch-up rally with Bitcoin
📈 Your Market Update 📉
BTC is up 1%, trading at $67,245
ETH is down .8%, trading at $3,816
BTC dominance: 49.76%
Crypto market cap: $2.64T
*All data as of today, 06:10 am ET. Source: CoinGecko
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