Code Is Law? Apparently Not 🙅♂️
In today’s edition: 💬 Centralized stablecoins as a Trojan horse, 🌍 Middle East tensions affect the crypto market, 🌐 Tether diversifying into new sectors, 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.
The Bitcoin Halving Is Almost Here!
Not only will April 20 (or 19, depending on which part of the world you are) mark the fourth Bitcoin halving, but also the launch of a new primitive on Bitcoin called Runes Protocol.
Charlie Spears, co-founder of Blackspace Media, joined Unchained to talk about all things Runes, which is a messaging protocol that allows for the creation of fungible tokens on Bitcoin. It is designed to fix some of the issues with the BRC-20 token standard, such as inefficiency and proliferation of unspent transaction outputs. Charlie believes that the launch of Runes will increase demand for Bitcoin’s blockspace and potentially lead to higher transaction fees. He also discusses the potential for Runes to interact with Bitcoin covenants and layer two solutions.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
What’s Poppin’?
by David Z. Morris, Sam Sriram, and Michael Bodley
DeFi Has ‘Higher Level of Accountability’ Following Eisenberg Conviction, Experts Say
An acquittal of Mango Markets’ exploiter Avraham “Avi” Eisenberg could have opened the door for more exploitations of DeFi smart contracts.
Opinion: Regulated Dollar Stablecoins Created by a Proposed New Senate Bill Would be Crypto’s Ultimate Trojan Horse
Cypherpunks don’t have to love centralized, censorable dollar tokens. But make no mistake—trusted stablecoins would be incredibly bullish for real crypto.
Bitcoin Briefly Falls Under $60,000 As Middle East Conflict Escalates
Bitcoin slipped under the crucial $60,000 price level late on Thursday, as risk assets sold off on news of Israel launching an attack on Iran.
Tether Expands Beyond Stablecoins With Four New Divisions
Tether will reorganize into four business divisions that will service areas from strategic investments to sustainable Bitcoin mining.
Daily Bits…✍️✍️✍️
📉 Bitcoin spot ETFs in the US experienced a total withdrawal of $4.3 million on Thursday, marking a continuous five-day outflow streak totaling over $319 million, with GBTC seeing significant reductions.
🌱 Chia Network, known for its unique blockchain consensus mechanism, is advancing towards an IPO, having recently made progress with regulatory filings despite last year's setbacks related to its primary banker's financial issues.
🔄 Avail confirmed the details of its token airdrop set for the upcoming Avail data availability launch, aiming to bolster interconnectivity between various blockchain rollups.
💹 Coinbase International Exchange and Coinbase Advanced will offer perpetual futures trading for the dogwifhat ($WIF) memecoin to non-US customers starting April 25, expanding its range of crypto derivatives offerings internationally.
💲 Senator Lummis highlighted that US consumers would benefit from choosing Circle over Tether under proposed US stablecoin regulations, citing greater compliance and regulatory oversight as key advantages for US-based Circle.
⛏️ Bitcoin mining firm Foundry plans to distribute any profits from mining the first satoshi in the upcoming Bitcoin halving block to members of its USA Pool Team, capitalizing on the unique value of this "epic sat" in the crypto community.
Today in Crypto Adoption...
🌐 Aptos Labs partnered with Microsoft, Brevan Howard, and SK Telecom to launch Aptos Ascend, providing banks and large institutions with streamlined access to decentralized finance.
The $$$ Corner…
🚀 Blast DEX Thruster secured $7.5 million in a seed round led by Pantera Capital, boosting its valuation to $70 million as it expands its decentralized exchange services on Ethereum layer 2 network Blast.
🤝 Safe acquired the crypto treasury management platform Multis, backed by Sequoia, integrating its technology and leadership into the Safe ecosystem to enhance cross-network user experience for digital asset management.
📈 Kraken acquired TradeStation's crypto division to expand its reach in the US, gaining money transmitter licenses across over 40 states and enhancing its service offerings.
🔐 Zengo expanded its reach in the stablecoin sector by acquiring the Minke wallet, enhancing its offerings and broadening its user base in the crypto wallet market.
What Do You Meme?
Recommended Reads
Unchained: BlobScriptions: A New Type of Inscription on Ethereum
Blockworks: How the Bitcoin halving could impact ailing mining stocks
DL News: Scroll community hits back at the layer 2′s second attempt to launch a loyalty scheme
📈 Your Market Update 📉
BTC is up 5.1%, trading at $64,808
ETH is up 3.2%, trading at $3,096
BTC dominance: 51.93%
Crypto market cap: $2.46T
*All data as of today, 06:27 am ET. Source: CoinGecko
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