😮 How SBF Is Funding His Legal Defense ✍️
In today's edition: ⛓️ Do Kwon extradited?, 🫰 SBF is accused of *more* things, 🗓️ FDIC gives a deadline, ⏸️ THORChain halted, and more!
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On the Pod…
Why Zero-Knowledge Proofs Are Critical to Ethereum’s Future
What’s Poppin’?
by Samyuktha Sriram
SBF Charged With Paying $40 Million Bribe to Chinese Official
Sam Bankman-Fried allegedly directed Alameda employees to transfer millions in crypto to Chinese government officials to unfreeze frozen accounts in 2021.
FDIC Gives Signature Crypto Clients Until Next Week to Close Accounts
The FDIC informed Signature’s crypto depositors that funds held in their accounts after April 5 would be delivered via a check in the mail.
THORChain Briefly Halted Due to Network Security Threat
THORChain paused all trading activity for several hours after receiving credible reports of a potential vulnerability on Tuesday.
ConsenSys Launches zkEVM ‘Linea’ Public Testnet
A public testnet of ConsenSys’ zkEVM solution ‘Linea’ is now live, having processed over 1.5 million transactions since its private beta.
Daily Bits…✍️✍️✍️
FTX's former CEO Sam Bankman-Fried is reportedly funding his legal defense through a multi-million dollar gift he gave to his father before the company's collapse, which was funded by a loan from Alameda Research.
American authorities have requested the extradition of Do Kwon from Montenegro through diplomatic channels.
The founders of crypto hedge fund Three Arrows Capital (3AC), Kyle Davies and Su Zhu, were summoned to appear in court in the British Virgin Islands on May 22 for the liquidation proceedings of the fund, with the threat of contempt of court charges if they fail to comply.
Do Kwon, the co-founder of Terraform Labs, reportedly told Montenegrin officials that he received VIP treatment during his months on the run.
Ethereum core developers confirmed that the Shapella network upgrade will be implemented on the Ethereum mainnet on April 12.
FTX received court approval to sell its assets in Sequoia Capital Fund to Abu Dhabi's investment arm for $45 million.
Executives at Genesis had early privileged access to new tokens backed by FTX crypto exchange, which was allegedly involved in the theft of customer assets, according to sources cited by the Financial Times.
Safemoon, a Binance Smart Chain-based exchange, was hacked due to a bug that allowed the attacker to burn a majority of SFM tokens in the Safemoon liquidity pool, resulting in the loss of nearly $8.9 million to the exploiter.
A US judge rejected a motion to exclude bZx DAO token holders from a class-action lawsuit filed by victims of a $55 million hack in November 2021, making them potentially liable for the group's obligations under the California partnership law.
Despite the recent lawsuit filed by the Commodity Futures Trading Commission (CFTC) against Binance, legal experts suggest that the case is unlikely to have a significant impact on Binance's acquisition of Voyager's assets.
Voyager Digital, despite regulatory objections regarding possible violations of securities law, sent $150 million in USDC to Centre, a Coinbase-Circle joint venture.
Disney reportedly laid off its entire metaverse unit of 50 employees while retaining the head of the team, as part of company-wide layoffs.
North Korean group APT43 used hash rental and cloud mining services to launder stolen bitcoin in order to sustain its own operations, according to a report by Mandiant.
Today in Crypto Adoption...
StarkWare's zero-knowledge proofs, initially tested on Ethereum, have been launched on the Bitcoin blockchain through the ZeroSync Association.
Fidelity is hiring a senior lead for its crypto and token research development team to develop data and technical frameworks for evaluating tokens and blockchain protocols in the Crypto and DeFi economy.
The $$$ Corner…
Blockchain Capital led a $50 million Series A round for staking protocol developer Eigenlayer.
Orderly Network, a decentralized trading infrastructure based on the Near blockchain, raised an undisclosed amount of funds from CoinDCX Ventures at a $200 million valuation.
So-Col, a web3 social platform, raised $4.5 million through two funding rounds.
🤓 Guides: How To Make Proposals and Vote in a DAO
DAOs, or decentralized autonomous organizations, facilitate collective decision-making and governance through token voting and blockchain verification, and this guide will delve into the process of proposing a DAO and various voting methods.
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📈 Your Market Update 📉
BTC is up 5.7%, trading at $28,470
ETH is up 5.33%, trading at $1,826
BTC dominance: 46.0%
Crypto market cap: $1.2 trillion
*All data as of today, 6 am ET
Recommended Reads
The Block: CFTC's complaint against Binance seeks permanent trading and registration bans, and other details
CoinDesk: The Liability of DAOs and Their Founders Has Been Put to the Test in Court
Steven Kelly on the banking crisis:
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