❌ Binance Suspends Spot Trading ❌
In today's edition: 🎙️ New show with Coinbase Chief Legal Officer, ⛓️ Do Kwon's charges, 🎈 $ARB airdrop, and more!
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On the Pod…
Coinbase’s Top Lawyer Calls SEC Wells Notice a ‘Massive Overreach’
Coinbase's chief legal officer, Paul Grewal, shares his concerns about the SEC's recent warning that it would pursue legal action against the crypto exchange, discussing the implications for Coinbase and for the future of crypto in the United States due to the regulator's failure to provide clear rules on digital assets.
What’s Poppin’?
by Samyuktha Sriram
Do Kwon Arrested in Montenegro, Faces Criminal Charges From US
Terraform Labs founder Do Kwon has been arrested in Montenegro after attempting to leave the country with falsified documents.
Arbitrum Airdrop Traffic Crashes Claims Website and Blockchain Scanner
High levels of network congestion caused Arbitrum’s main website and blockchain scanner Arbitrum to crash shortly after the airdrop went live.
MakerDAO Votes to Keep USDC as Primary Reserve
MakerDAO’s community has voted to keep USDC as the main reserve asset despite the depegging event earlier this month.
FTX to Sell $95 Million Stake in Mysten Labs
FTX debtors will sell the $95 million of preferred stock and $1 million SUI token warrants in Sui blockchain creator’s Mysten Labs.
Daily Bits…✍️✍️✍️
Binance temporarily suspended all spot trading due to an issue affecting the platform.
Short seller Hindenburg Research released a report accusing Jack Dorsey’s Block Inc. of facilitating crime and fraud, leading to an 18% drop in shares. Block denied the allegations and stated that it will work with the SEC and explore legal action.
Zipmex, a Thai crypto exchange, may be at risk of losing its $100 million venture capital buyout after its investor missed a $1.25 million payment, which was due on March 23.
European Parliament policymakers reinstated language to an anti-money laundering bill that will place a 1,000-euro cap on crypto transactions with self-hosted wallets, unless the owner is fully identified.
The U.S. Securities and Exchange Commission's Office of Investors Education and Advocacy advised caution when investing in crypto asset securities, warning that platforms offering crypto trading may not be complying with federal securities statutes.
A DappRadar report revealed that non-fungible token (NFT) trading in virtual worlds surged in Q1 2023 to $311 million, while virtual land trading hit an all-time high with 147,000 trades this quarter, driven by Yuga Labs' Otherside and MG Land.
Today in Crypto Adoption...
Ethereum infrastructure provider DRPC launched a decentralized RPC network for Ethereum-based apps to enhance security, reliability, and cost-efficiency by providing a globally distributed network of decentralized providers.
Xapo Bank and stablecoin issuer Circle are collaborating to offer Xapo Bank members a way to bypass the SWIFT payment system by supporting USDC transfers and providing one-to-one dollar conversion of USDC into USD.
The Graph partnered with Banxa, using its OpenRamp product to allow users to pay with fiat currency for accessing blockchain data, simplifying the interaction with decentralized protocols.
The $$$ Corner…
Radix, a Layer 1 blockchain network, achieved a $400 million valuation in a $10 million funding round entirely backed by DWF Labs.
BH Digital's Nova Digital Opportunities fund raised $9 million from investors for its liquid token strategy, overseen by portfolio manager Kevin Hu, who recently joined BH Digital from Dragonfly.
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📈 Your Market Update 📉
BTC is up 1.48%, trading at $28,355
ETH is up 2.01%, trading at $1,801
BTC dominance: 45.9%
Crypto market cap: $1.18 trillion
*All data as of today, 6 am ET
Recommended Reads
Nic Carter on whether the government kickstarted a financial crisis in its attempt to destroy crypto
CoinDesk’s Oliver Knight and Helene Braun on why FTX could never have been rebooted
Bartek on Abritrum’s governance:
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