🆘 Genesis Creditors: Rescued or Still at Risk?
In today's edition: 🎙️ New episode on Pyth and blockchain oracles, 🥇 Friend.tech's points system, ⏱️ Clockwork's shutdown, and more!
Dive into Overtime, explore your onchain web3 sportsbook. 40+ leagues. Token rewards. Smart contract security. Join thousands and get in the game today.
What’s Poppin’?
by Samyuktha Sriram
DCG and Genesis Reach In-Principle Deal With Creditors
The company is finalizing a restructuring agreement that would either result in a sale of Genesis or turn over its equity to creditors.
Friend.tech Threatens to Penalize Users That Move to Copies or Forks
The decentralized social media application plans to revoke any existing points from those that use copycat platforms.
Pyth Network Adds Douro Labs as Core Contributor in Push Towards Permissionless Mainnet
The blockchain infrastructure company will work towards implementing the Perseus Upgrade on Pyth Network as it moves to a permissionless mainnet with token-led governance in 2023.
Solana-Based Project Clockwork to Shut Down
The team behind the smart contract automation platform cited “limited commercial upside” in continuing to develop the protocol.
On the Pod…
Oracles are all about bringing important data (mostly asset prices) onto the blockchain. As such, they’re a key part of decentralized finance. But oracle provider Pyth sees room for improvement as it relates to being more real-time than crypto incumbents like Chainlink. Mike Cahill, the CEO of a brand new Pyth-linked firm called Douro Labs, joins the show to explain the opportunity he sees in building better oracles.
Daily Bits…✍️✍️✍️
🔒 The U.S. Department of Justice (DOJ) seeks to bar all seven expert witnesses proposed by Sam Bankman-Fried for his upcoming trial, questioning their credibility and reliability.
👨⚖️ Sam Bankman-Fried's legal team is appealing a U.S. judge's decision to jail him pre-trial for allegations related to the collapse of his former crypto exchange FTX, citing witness tampering.
🌍 Binance is reassessing its operations in Russia, including the possibility of a complete market exit, amid increasing legal risks, according to a company spokesperson.
🛑 Following a SIM swap attack on Kroll, the claims agent in FTX's bankruptcy proceedings, former FTX users are now targeted by phishing emails attempting to exploit leaked personal information.
📜 Three Republican lawmakers accused the Federal Reserve of hindering progress on their stablecoin regulation bill, claiming the central bank's oversight actions are discouraging banks from issuing payment stablecoins.
🚫 Yearn Finance governance participants declined Wintermute Trading's request for a 12-month loan of 350 YFI tokens, deeming the proposal unfavorable.
🛠️ Coinbase is investigating a technical issue that has left some Wallet users with empty balances, assuring customers that their funds are secure while they work on a fix.
🎥 Ben Armstrong has been removed from the Bitboy Crypto brand by parent company BJ Investment Holdings, citing Armstrong's relapse into substance abuse and harm caused to the brand and its community.
🎙️ The SEC charged Los Angeles-based podcast studio Impact Theory for "conducting an unregistered offering of crypto asset securities."
🔄 Binance is rerouting its Belgian customers through a Polish entity to circumvent a ban imposed by Belgium's Financial Services and Markets Authority, which had ordered the crypto exchange to cease operations in the country.
Today in Crypto Adoption...
🐭 Cryptoys, a web3 startup backed by Andreessen Horowitz, is set to launch a new collection of digital toys featuring Disney's iconic character Mickey Mouse, priced at $39.99 each.
The $$$ Corner…
🎨 FirstMate, a startup focused on empowering NFT creators with digital storefronts, secured $3.75 million in a funding round led by Dragonfly, with participation from Coinbase Ventures and NextView.
What Do You Meme?
Recommended Reads
📈 Your Market Update 📉
BTC is flat, trading at $25,952
ETH is up .2%, trading at $1,640
BTC dominance: 46.48%
Crypto market cap: $1.09 trillion
*All data as of today, 7:47 am ET
ICYMI: On Unchained Premium 💎
👯♀️ Refer Unchained with a friend and earn a Premium subscription
⛓️ Join Unchained Premium to get access to:
🎙️ Behind-the-scenes interviews, in which I talk with crypto experts and entrepreneurs to learn all about the latest developments in the industry.
💬 A subscriber-only Telegram group, where you can talk with the other members of the Unchained community, build a network in crypto, and talk directly with me and the Unchained team!
📰 Transcripts of all the shows, for subscribers only.
If You Like What You Read:
👍 follow Laura on Twitter, Facebook, Instagram, TikTok, Mastodon and/or LinkedIn
🎧 subscribe to Unchained on YouTube, Apple Podcasts, Spotify, Google Podcasts, Pandora or wherever you get your podcasts
and/or 📚buy Laura’s book, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze