Gensler: ‘Disappointed’ 😬
In today's edition: 🎙️ New pod on the Ripple ruling, 🫤 BlockFi creditors had warned the company, 🦄 the launch of UniswapX, and more!
What’s Poppin’?
by Samyuktha Sriram
SEC’s Gensler Reacts to Court Ruling on Ripple, Says SEC Will Continue Lawsuits Against Crypto Firms
The SEC Chairman said he was “disappointed” with the court ruling’s ruling on XRP with respect to retail investors, but the regulator was still “taking a look at” the decision.
BlockFi Ignored Warnings About FTX and Alameda, Say Creditors
Creditors of the bankrupt crypto firm allege that BlockFi loaned enormous sums to Alameda, collateralized by FTT tokens, despite being privy to the same balance sheet that set off alarm bells before FTX’s collapse.
UniswapX Launches With MEV Protection and Gas Free Swaps
Uniswap has launched a new blockchain protocol “UniswapX” that will bring more liquidity, better prices and MEV protection to users.
Hector Network to Liquidate $16 Million in Treasury After Multichain Hack
Fantom-based Hector Network will redeem HEC tokens against funds in the Treasury after a community vote ended on Monday with 81% in favor of liquidation.
On the Pod…
XRP isn’t itself a security; it depends on how it’s sold. So said a federal judge last Thursday in the SEC vs. Ripple case and the implications are significant.
Jake Chervinsky, chief policy officer at the Blockchain Association, and lawyer Kayvan Sadeghi, partner at Jenner & Block, join the show to discuss two major ramifications. One: U.S. District Judge Analisa Torres dealt a major blow to the legal theory underpinning the SEC’s case against Coinbase. Two: This order really “lights a fire” under U.S. lawmakers to act on a pair of crypto bills in Congress.
Daily Bits…✍️✍️✍️
🔮 SEC Chair Gary Gensler suggested that AI could significantly influence future financial crises.
📜 Coinbase CEO, Brian Armstrong, is set to discuss digital asset legislation and related topics with members of the New Democrat Coalition in a private meeting.
🚫 Ron DeSantis vowed that, if elected president, he would prohibit Central Bank Digital Currencies (CBDCs).
💼 Binance reduced employee benefits as profits declined, as reported by the Wall Street Journal.
🔨 The bankruptcy settlement of crypto lender Celsius will allocate $25 million from the GK8 sale proceeds toward Series B stakeholders, with the majority used for legal costs and a minor portion for shareholder distribution.
🏛️ Senior House Republicans and Democrats emphasized the necessity for stablecoin legislation, indicating potential progress toward a comprehensive framework.
🔗 Chainlink launched its cross-chain interoperability protocol on five networks including Avalanche, Ethereum, and Polygon.
🔍 Crypto investigator ZachXBT accused a scammer of stealing NFTs through fake Discord servers.
💹 Compound’s outstanding debt on Ethereum reached $1 billion, the highest level in one year.
📊 XRP surpassed Bitcoin to become the most traded crypto asset after last week’s court ruling in favor of Ripple.
The $$$ Corner…
💰🚀 Ethena, an Ethereum stablecoin developer, completed a $6 million seed funding round led by Dragonfly.
Bringing institutional-grade financial products on-chain, starting with the tokenization of US Treasuries and money market funds.
What Do You Meme?
Learn 🤓
What Are Soulbound Tokens? A Beginner’s Guide
Soulbound tokens (SBTs) could help to show credentials and prove achievements while remaining pseudonymous in the web3 ecosystem.
📈 Your Market Update 📉
BTC is down .8%, trading at $30,015
ETH is down .6%, trading at $1,9075
BTC dominance: 46.81%
Crypto market cap: $1.25 trillion
*All data as of today, 7:15 am ET
Recommended Reads
Decrypt: Pharrell Is the Future of Fashion—And the Future Looks Creative AF
Ryan Berckmans on L2s and L3s on Ethereum
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