How Solana's Memecoin Frenzy Resembles Ethereum in 2017 🎢
In today’s edition: 🛡️ Hacker's $4.6M exploit claim, 🇰🇷 Challenge to South Korea's request, 🚨 Unsolicited Tornado Cash transfer, and more!
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On Wednesday, BlackRock, the world’s leading asset management firm, announced the launch of a tokenized investment fund, the BlackRock USD Institutional Digital Liquidity (BUIDL) Fund, developed in collaboration with Securitize.
Carlos Domingo, founder and CEO of Securitize, discusses the launch of the fund, which is native to the public Ethereum blockchain and aims to bring an institutional-grade cash management product to crypto institutions, offering faster token issuance, redemption, and transferability.
He also talks about how Blackrock has embraced crypto, how the launch of the fund was “front run” by crypto Twitter, and how Blackrock will deal with issues such as the fund being dusted with ETH tainted by sanctioned Tornado Cash ETH.
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
What’s Poppin’?
by Sage Young and Sam Sriram
Solana’s Memecoin Boom Has Many Recalling Ethereum’s 2017 ICO Mania
Some crypto users have observed parallels between Solana’s current meme frenzy and Ethereum’s ICO mania in 2017.
‘White Hat’ Hacker Offers to Reimburse Users After $4.6 Million Exploit
After draining $4.6 million from Super Sushi Samurai — a newly launched gaming token on the Blast network — the hacker claimed it was part of a “white hat rescue” effort and offered to work with the protocol to reimburse users.
Do Kwon’s Extradition to South Korea Challenged by Montenegro Prosecutor
The Supreme State Prosecutor of Montenegro has stepped in and put a hold on Do Kwon’s extradition to South Korea.
Wallet Associated With BlackRock’s Tokenized Fund Spammed With Unsolicited ETH From Tornado Cash
The transfer via the sanctioned crypto mixer could potentially create legal problems.
Daily Bits…✍️✍️✍️
🔒 Sam Bankman-Fried's defense team argued against the Department of Justice's call for a 40-50 year sentence, citing a misapplication of legal precedents and suggesting a more appropriate sentence of around 6 years.
🧳 Just days before Three Arrows Capital's collapse, Kyle Davies attempted to persuade LayerZero to invest its entire treasury with 3AC, a move that CEO Bryan Pellegrino alleges was deceitful and exploitative.
🌈 Vitalik Buterin announced "Ethereum Rainbow Staking," aiming to refine the network's economic framework by balancing the allocation between heavy and light services, thereby boosting network resilience and emphasizing the significance of solo stakers.
🔄 Frax Finance advanced a proposal to reactivate its protocol fee switch, aiming to support the full collateralization of its decentralized stablecoin, FRAX, while also proposing enhancements to its tokenomics and yield structures.
Today in Crypto Adoption...
🔍 Google introduced a feature displaying Ethereum Name Service wallet balances in search results, enhancing user access to Ethereum wallet information via simple domain searches.
The $$$ Corner…
🔒 Succinct Labs closed $55 million in a round led by Paradigm to make zero-knowledge proofs accessible to all developers.
☕ Espresso Systems secured $28 million from a16z crypto to enhance its blockchain infrastructure and scale its team.
🔄 Bi.social garnered $3 million for its decentralized social trading protocol, aiming to enhance Web3 social trading experiences.
What Do You Meme?
Recommended Reads
Unchained: Who Owns the Most Bitcoin Now?
Kristin Smith on why the digital assets industry is at a political ATH
The Defiant: Bitcoin ETF Outflows Persist Despite Markets Bouncing
DL News: The $100tn reason why institutions will tap into Bitcoin ETFs
📈 Your Market Update 📉
BTC is down 3.4% trading at $64,782
ETH is down 3.1% trading at $3,438
BTC dominance: 49.02%
Crypto market cap: $2.6T
*All data as of today, 07:14 am ET. Source: CoinGecko
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