Coinbase 🤝 Circle: Is Something Big Brewing?
In today's edition: 🎙️ New episode on MakerDAO's endgme, 🧐 SBF's legal meeting and jury guidelines, 📊 Friend.tech's user data leak, 🕵️ Vitalik's Coinbase deposit, and more!
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What’s Poppin’?
Coinbase Acquires Equity Stake in Circle Amid USDC Updates and Market Challenges
by Juan Aranovich
Coinbase acquires a stake in Circle, aligning with key updates to USDC and navigating a fluctuating market landscape.
Prosecutors File Jury Instructions for SBF’s October Trial
by Samyuktha Sriram
The instructions specify what jurors should keep in mind if they vote to convict the FTX founder at his criminal trial.
SBF to Meet Lawyers in Court on Tuesday
by Samyuktha Sriram
The FTX founder will be allowed to access one internet-enabled laptop and one WiFi device for around six and a half hours while he meets with his counsel.
Friend.tech Clarifies That Database of 100,000 Users Was Not Leaked
by Samyuktha Sriram
The team behind the decentralized social media platform Friend.tech refuted a report that user details on its platform had been leaked to the public.
Ethereum’s Vitalik Buterin Sends $1 Million in ETH to Coinbase
by Samyuktha Sriram
The Ethereum cofounder transferred 600 ETH to Coinbase amid a week of negative price action for the second largest cryptocurrency by market cap.
Maker’s Endgame Will ‘Change the Industry’: Rune Christensen
by Juan Aranovich
The introduction of subDAOs, combined with the strategic use of AI, reflects a thoughtful and ambitious approach to overcoming the challenges of growth and collaboration within a DAO.
On the Pod…
The height of the last bull run was when MakerDAO cofounder Rune Christensen felt most disillusioned by DeFi and DAOs. “I didn’t even see how Maker was going to survive,” Christensen tells Laura Shin in the latest episode of Unchained. Now Christensen is leading an effort to help DAOs escape their trough of disillusionment. He says the ambitious “Endgame Plan” for MakerDAO seeks to overcome “the central issue of voter apathy.” Will it work or are DAOs doomed to fail?
Daily Bits…✍️✍️✍️
🚨 The SEC charged New York-based Titan Global Management with securities violations, which included some related to crypto, resulting in an $850,000 civil penalty and a cease-and-desist order.
🔑 Friend.tech renamed "Shares" to "Keys" in response to community concerns that the original name might imply securities.
⚖️ Yi Xiao, a former provincial-level official in China's Jiangxi province, was sentenced to life in prison for corruption, including facilitating crypto mining activities, and accepting bribes.
📉 A wallet that borrowed over $150 million from Venus Protocol was liquidated for $30 million as BNB prices fell. The tokens were likely manually liquidated by the BNB Chain developer team.
✉️ Crypto policy nonprofit Coin Center sent a letter to Congress members urging for clearer cryptocurrency tax regulations and guidance on capital gains taxation.
🚔 The FBI seized nearly $1.7 million in cryptocurrency between March and July 2023, with the majority of the seizures coming from Binance accounts.
🌐 Terra's website was compromised by hackers over the weekend, leading to phishing attacks on visitors; developers have warned users to avoid interacting with the site.
📉 Crypto investment products faced outflows of $55 million last week, influenced by the market crash and uncertainty surrounding the SEC's approval of a spot Bitcoin ETF.
🐶 Shiba Inu developers are preparing for a public restart of the Shibarium network, enhancing and optimizing it after a botched launch marred by network issues.
The $$$ Corner…
🍏 San Francisco-based Momentum Capital garnered $10 million in funding from Canada's BM Fund to support early-stage web3 projects and find "the next 'Apple' in crypto."
What Do You Meme?
Learn 🤓
What Are Zero-Knowledge Proofs?
Learn about Zero-Knowledge Proofs (ZKPs) and why they are important in ensuring privacy and security in web3.
📈 Your Market Update 📉
BTC is up .2%, trading at $26,042
ETH is down .2%, trading at $1,665
BTC dominance: 46.35%
Crypto market cap: $1.09 trillion
*All data as of today, 6:30 am ET
Recommended Reads
bartek.eth on using on-chain zk verifiers
gino.eth on Blur
wassielawyer on the FTX reorganization plan term sheet
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