‘Long Live 3AC Ventures’ 🤡
In today's edition: 🤑 3AC Ventures, 🤥 Court: SEC lied about Binance.US, 🫡 Chair Powell bullish on stablecoins?, and more!
What’s Poppin’?
by Samyuktha Sriram
3AC Founders Launch Venture Capital Firm
The founders of bankrupt crypto hedge fund Three Arrows Capital (3AC) have launched a new firm called 3AC Ventures to invest in crypto projects.
Binance.US: SEC Made Misleading Statements About Exchange Commingling Customer Assets
Lawyers representing the crypto exchange pointed to a court transcript that shows the SEC conceding that it had no evidence customer funds were diverted offshore.
Federal Reserve Chair Jerome Powell: We Do See Payment Stablecoins As Money
The Federal Reserve chair believes that the central bank should play a role in approving stablecoin issuance.
Valkyrie Applies for Bitcoin Spot ETF ‘BRRR’
The cryptocurrency fund manager applied to list the Valkyrie Bitcoin Fund on the NASDAQ.
On the Pod…
🦄 Uniswap Founder Hayden Adams on How ‘Hooks’ Make v4 Different
Daily Bits…✍️✍️✍️
🔄 Circle resumed purchasing U.S. Treasury bills as a reserve asset for its $28 billion USD Coin (USDC), managed by BlackRock, after getting rid of all holdings during last month's U.S. debt ceiling crisis.
🏦 The Bank of International Settlements (BIS) presented a blueprint for a global "unified ledger" supporting CBDCs and tokenized assets, while critiquing crypto as a flawed system.
📜 Ripple received in-principle approval from the Monetary Authority of Singapore for a Major Payments Institution License.
💻 The Monetary Authority of Singapore, in collaboration with the IMF and several central banks, proposed common standards for retail payments using digital money, with Amazon and Grab participating in a pilot test.
📈 MakerDAO increased its U.S. Treasury holdings by $700 million to boost the reserve backing its DAI stablecoin, raising the total to $1.2 billion.
🤖 Polygon launched Polygon Copilot, an AI interface powered by OpenAI's ChatGPT, to support developers in creating decentralized apps on the Polygon blockchain.
🕵️♀️ The German Intelligence Agency (BND) launched an NFT collection "Dogs of BND" as part of a blockchain-based treasure hunt aimed at recruiting new talent.
🎨 Zora rolled out a Layer 2 blockchain network, secured by Ethereum and built on Optimism's tech stack, aimed at enhancing the NFT minting process by making it quicker, cost-effective, and more user-friendly.
The $$$ Corner…
💡 Cosmos-based blockchain Neutron raised $10 million in a seed funding round led by Binance Labs and CoinFund, aimed at expanding its ecosystem.
💸 DeFi infrastructure project Maverick Protocol secured $9 million in funding in a round led by Founders Fund.
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📈 Your Market Update 📉
BTC is up 4.4%, trading at $30,203
ETH is up 5.4%, trading at $1,909
BTC dominance: 47.84%
Crypto market cap: $1.23 trillion
*All data as of today, 6:40 am ET
Recommended Reads
Reviewing the Tether Documents by Nikhilesh De
The Rise of LSDfi and Innovative New Primitives by Noah Roy
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