😨 SBF Be Like: Oops
In today’s edition: 🎉 Solana's fourth anniversary, 📈 Base's transactions hit 2M, 🚨 Milady founder reports hack, 📣 Senators caution SEC on ETFs, and more!
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Union is the first sovereign interoperability layer pioneering trustless bridging between appchains, L1s, and L2s without depending on trusted third parties, oracles, multi-signatures, or MPC. Looking to future-proof blockchain bridging, it is the only protocol that fully addresses the sovereign bridging trilemma, unlocking a horizontally-scaled future.
Ethereum’s long-awaited Dencun upgrade finally went live this week, and many layer 2s immediately saw their transaction fees fall dramatically, as was the intention. Among them was the Coinbase-incubated Base, which was created by Jesse Pollak. Pollak joined Unchained to discuss the impact Dencun was having on Base; how he thinks layer 1s and layer 2s will start to differ from one another and eventually spawn a multitude of specialized layer 3s, his response to criticisms of the increasing use of layer 2s, what he’s focusing on now, and why he supports using the word “onchain” over “crypto” or “web3.”
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, Jacob Oliver, Sam Sriram and Kyle Torpey
US Prosecutors Recommend 40 to 50 Years in Prison for Sam Bankman-Fried
Prosecutors told the court that “justice requires that he receive a prison sentence commensurate with the extraordinary dimensions of his crimes.”
Solana at 4: Memecoins Help Drive Network to All-Time High in Market Cap Post FTX Collapse
The network, which was once strongly tied to the fortunes of Sam Bankman-Fried, celebrated its fourth anniversary on Saturday, having put FTX’s troubles behind it and found success with meme coin darlings Dogwifhat and Bonk.
Base Daily Transactions Spike to 2 Million Post Dencun Upgrade
Coinbase’s Ethereum layer 2 network Base saw a massive uptick in daily transactions following the Dencun upgrade, surging to a record 2 million on Saturday.
Milady Founder Claims Hack After Millions in ETH and NFTs Drained
The founder of Remilia and Milady is claiming to have been hacked after millions of dollars worth of assets from the project’s treasury were transferred to another wallet and liquidated.
Arbitrum to Unlock $2 Billion in ARB Tokens to Offchain Labs on Saturday
Arbitrum’s token unlock represents the protocol’s most substantial release to date and will nearly double ARB’s circulating supply.
Senators Call on SEC’s Gary Gensler to Cool It on Approving More Crypto ETFs
Senators Jack Reed and Laphonza Butler expressed reservations about existing bitcoin ETFs and also insisted that the agency should not approve any other crypto exchange-traded products.
Bitcoin DeFi App Sovryn to Deploy on Hybrid Layer 2 Network Build on Bitcoin
Bitcoin’s most prominent DeFi app is integrating with a yet-to-launch Bitcoin layer 2 network known as Build on Bitcoin (BOB) in an effort to attract liquidity from Ethereum.
Daily Bits…✍️✍️✍️
Solana meme coins:
🚀 A meme coin frenzy on Solana led to unprecedented onchain activity, breaking previous volume records and significantly increasing the network's active addresses.
Also, 🎨 an unexpected presale for a new Solana meme coin, initiated by NFT artist Kero, quickly raised over $10 million in Solana tokens.
Meanwhile, 🔥 Slerf, a new Solana-based meme coin, faced a major setback as its developer accidentally burnt $10 million worth of funds raised from presale investors.
🪂 Following community input, Ether.fi revised its governance token airdrop plan, reducing the allocation for certain large holders to ensure a fairer distribution.
🔍 Aevo's trading volume soared to over $4.5 billion before plummeting, sparking wash trading allegations; the platform attributes the surge to users aiming to benefit from an airdrop.
🇸🇻 President Nayib Bukele revealed El Salvador received 4,560 bitcoins from Bitfinex, storing over 5,689 bitcoins in cold wallet in a vault, indicating the country holds more bitcoin assets.
🚨 NFT platform NFPrompt alerted the FBI following a hack compromising multiple wallets, including its treasury and ecosystem fund, urging users to avoid interactions with NFP from unverified sources.
💸 Nigeria's Securities and Exchange Commission proposed a 400% increase in crypto firm registration fees amid efforts to strengthen oversight on the industry.
Today in Crypto Adoption...
🇮🇩 Indonesia's crypto market experienced significant growth with transactions hitting $1.92 billion in February, as the number of crypto investors surged to 19 million.
What Do You Meme?
Recommended Reads
📈 Your Market Update 📉
BTC is up 2.2% trading at $68,351
ETH is up 1.0% trading at $3,606
BTC dominance: 49.55%
Crypto market cap: $2.7T
*All data as of today, 07:32 am ET. Source: CoinGecko
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