🚨🧳 Terra's Do Kwon Goes Stateside
In today’s edition: 🔥 Ethena's USDe surge, 🚫 Gauntlet leaves Aave, 📉 Risk in ether ETFs?, 💸 $350M AVAX unlock imminent, and more!
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This week the boys dive deep into Starknet’s airdrop controversies, the psychological toll of internet backlash on founders, and the groundbreaking Ethena project inspired by Arthur Hayes. This episode questions the effectiveness of airdrop strategies in user engagement, the resilience founders must muster against online criticism, and Ethena’s potential to revolutionize crypto finance with its tokenized cash and carry trade. They also tackle the security threats on platforms like GitHub, the balance between egalitarian distribution versus market dynamics, and the transparency required in token economics. What legal challenges arise from token vesting schedules, and how does Ethena innovate in crypto finance inspired by traditional models?
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
What’s Poppin’?
by Sam Sriram, Brandy Betz, Euny Hong, and Sage Young
Terraform Labs Founder Do Kwon to Be Extradited to U.S. From Montenegro
Terraform Labs founder Do Kwon is facing fraud charges related to the collapse of the UST stablecoin.
Rise of Ethena’s USDe to a $352 Million Market Cap Prompts Discussions About Protocol Design
The inflows into Ethena’s “synthetic dollar” partly stem from people’s appetite for yield, with investors who decide to stake their USDe after minting the token receiving a whopping annual percentage yield of 27.64%.
5 Security Measures Crypto Investors Should Take in Bull Markets
When the market shows a renewed interest in crypto, you can be sure that scammers have renewed interest as well. Here are some of the best ways to protect your assets.
Aave’s Risk Manager Gauntlet Cuts Ties With DAO
Gauntlet has ended its four-year relationship as Aave’s risk manager, citing difficulties in the past year with navigating “ inconsistent guidelines” and “unwritten objectives” by the protocol’s largest stakeholders.
Spot Ether ETFs Could Introduce New Concentration Risk in Ethereum: S&P Global
An increase in ether staking ETFs could affect Ethereum’s validator mix, and potentially increase the network’s concentration risk, say analysts from S&P Global.
Avalanche’s Unlocked Supply of AVAX Set to Increase by $350 Million
The upcoming unlock of 9.54 million AVAX tokens comes as Avalanche’s native cryptocurrency slid nearly 11.5% in the past seven days, making it among the worst-performing of the top ten cryptocurrencies by market cap for that period.
Daily Bits…✍️✍️✍️
👔 Sam Bankman-Fried, who is facing sentencing negotiations, replaced his legal team with new lead counsel Marc Mukasey as he prepares for the next phase of his legal proceedings.
🌟 Polygon and StarkWare announced a collaboration on a new cryptographic proof technology, "Circle STARKs," aiming to enhance transaction speed and cost efficiency for Ethereum-based layer 2 networks.
📖 Turkey is advancing regulatory measures for the industry, focusing on consumer protection while encouraging innovation, according to a statement from a government official.
👨💼 Yuga Labs appointed co-founder Greg Solano, known as Garga, as its new CEO, taking over from former Activision Blizzard executive Daniel Alegre.
⚖️ A new lawsuit challenges the SEC's approach to digital asset regulation, arguing that the commission lacks the proper authority to regulate digital assets.
🚨 Hong Kong reported a significant increase in crypto crime, with police handling a 170% rise in cases over the past year.
Today in Crypto Adoption...
🖥️ Wormhole is set to use AMD's FPGA hardware accelerators for scaling cross-chain communication using zero-knowledge proofs on its interoperability platform.
The $$$ Corner…
💵 Bitcoin-focused layer 2 project Citrea raised $2.7 million in seed funding to develop a zero-knowledge rollup solution, aiming to broaden Bitcoin's capabilities in decentralized finance and NFTs. Learn more about Citrea here.
What Do You Meme?
Recommended Reads
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DL News: Bitcoin mining giant Marathon is ‘shopping around’ for acquisitions ahead of halving
Unchained: What Are Schnorr Signatures in Bitcoin?
📈 Your Market Update 📉
BTC is up 1.4%, trading at $51,637
ETH is up 2.9%, trading at $2,984
BTC dominance: 48.81%
Crypto market cap: $2.07T
*All data as of today, 06:40 am ET. Source: CoinGecko
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