⛓️ Do Kwon’s Motion ❌
In today's edition: 🎙️ New episode of The Chopping Block, 🗣️ Multichain rumors, 😱wallet hacked?, and more!
What’s Poppin’?
by Samyuktha Sriram
Terra Founder Do Kwon’s Bail Revoked in Montenegro: Report
Do Kwon will remain in jail after a Montenegrin high court overturned an earlier decision that approved his release for $436,000.
Multichain Cites ‘Force Majeure’ as Some Cross-Chain Bridges Are Suspended
Several entities have begun withdrawing liquidity from Multichain amid rumors that the protocol’s team has been arrested in China.
Security Firm Unciphered Claims To Be Able to Hack Trezor T Wallet
Cybersecurity firm Unciphered claims to have successfully hacked a Trezor T wallet after dismantling the hardware and extracting the seed phrase.
Coinbase Layer 2 Base Prepares for Mainnet Launch With No Plans to Issue Token
The network shared its main priorities for a transition from the testnet to “Mainnet Genesis,” but a network token is not one of them.
New Pod Today!
The Chopping Block: Why Everyone Is Talking About EigenLayer
Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner, chop it up about the latest news. In this episode, EigenLayer founder Sreeram Kannan explains his vision for providing “decentralized trust” to new projects on Ethereum. Was Vitalik Buterin’s recent “re-staking” post a shot across EigenLayer’s bow?
Daily Bits…✍️✍️✍️
🏦 Fahrenheit, a consortium that includes Arrington Capital and US Bitcoin Corp, won the auction for the assets of bankrupt crypto lender Celsius Network, securing a portfolio that includes institutional loans, staked cryptocurrencies, and a mining unit.
🕵️ A report analyzing the Bitfinex hack in 2016 found that the exchange had systematic failures, including operational, financial, and technological controls.
🔍 "DF Fintoch,” a relatively unknown crypto project, appears to have conducted a $32 million exit scam, falsely claiming links to Morgan Stanley and misrepresenting its CEO, according to an investigation by ZachXBT.
👨⚖️ A Dutch court allowed Alexey Pertsev, the Tornado Cash developer facing money laundering charges, to question blockchain analytics firm Chainalysis to dispute evidence linking him to criminal activities.
🎙️ In a conversation with Elon Musk, Ron DeSantis, Florida's Governor and a contender for the Republican Party leadership, expressed his support for cryptocurrencies and criticized the current administration's stance towards Bitcoin.
🔒 Starting June 1, Japan will enforce stricter anti-money laundering measures, including the FATF's "travel rule,” in response to international pressure over its current safeguards.
📝 Decentralized finance platform Aave is contemplating a proposal to launch its V3 on Base, a Layer 2 blockchain solution endorsed by Coinbase, and is currently undergoing Aave community’s feedback in a "temperature check" phase.
Today in Crypto Adoption...
☁️ Ava Labs introduced AvaCloud, a 'no-code' Web3 launchpad, designed to facilitate businesses in creating fully managed blockchain ecosystems.
The $$$ Corner…
💰 Dispersion Capital, a new venture capital firm focusing on crypto and founded by Patrick Chang, launched a $40 million fund dedicated to pre-seed and seed investments in Web3 infrastructure projects.
🌎 Bitfinex invested an undisclosed sum in Chilean crypto exchange OrionX, aiming to increase its presence in Latin America.
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What Is NFT Farming? A Beginner’s Guide
NFT farming merges concepts from DeFi with NFTs to enable holders to earn a yield on NFTs.
📈 Your Market Update 📉
BTC is down 2.4%, trading at $26,249
ETH is down 1.7%, trading at $1,786
BTC dominance: 44.23%
Crypto market cap: $1.15 trillion
*All data as of today, 7:00 am ET
Recommended Reads
CoinDesk: The Bitcoin Mining Debate Is Ignoring the People Most Affected
Black Market for Worldcoin Credentials Pops Up in China by Eliza Gkritsi & Lingling Xiang
Nicholas Hall on why FTX Creditors should file a Proof of Claim
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