SEC Appeals: Will It the Turn the Tide? 🌊

In today's edition: 🎙️ New episode of The Chopping Block, 🚨 15 crypto wallets at risk, 💔 the hack that drained It all, 💰 Maple Finance's USDC pool, and more!

Aug 10, 2023

Dive into Overtime, explore your onchain web3 sportsbook. 40+ leagues. Token rewards. Smart contract security. Join thousands and get in the game today.

What’s Poppin’?

by Samyuktha Sriram

SEC to Appeal Ruling on XRP in Ripple Case

The U.S. securities regulator plans to appeal a federal judge’s ruling that deemed programmatic sales of XRP through exchanges did not qualify as securities.

Fantom-Based SpiritSwap to Shut Down After Multichain Hack Drains Treasury

The decentralized exchange plans to wind down operations on Sept. 1 if it does not find time to take over the project.

Fireblocks Discloses Vulnerabilities Impacting 15 Major Crypto Wallet Providers

The set of vulnerabilities, dubbed “BitForge,” would allow an attacker to retrieve a private key from a single device.

Maple Finance Opens USDC Pool to US Investors

The blockchain-based institutional marketplace offered U.S investors access to its Treasury management solution after securing a Regulation D exemption from the SEC.

On the Pod…

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, a quiet conclusion to that Curve thing everyone was animated about. Plus, major developments from Web2 giant PayPal as it continues its journey down the crypto rabbithole. Also, is Maker’s juiced DAI Savings Rate the new Anchor? The gang discusses.

Listen Now!

Daily Bits…✍️✍️✍️

📱 Coinbase launched Base, its Ethereum layer-2 network, with over $142 million in total value locked, aiming to foster the development of decentralized apps without introducing native tokens.
📅 Jury trial dates for the SEC's case against Ripple Labs are being set for the second quarter of next year in the Southern District of New York.
🛑 Bitstamp will halt trading of seven tokens, including Polygon and Solana, in the United States on August 29, following recent SEC claims that they are unregistered securities.
🏛️ Leading Democrat Maxine Waters expressed concern about PayPal's launch of its own stablecoin, emphasizing the need for federal oversight to ensure consumer protection.
🎨 The y00ts NFT collection is migrating to Ethereum and returning a $3 million grant from Polygon, aligning with DeGods and marking a collaborative transition.
📉 Galaxy Digital reported a $46 million net loss in Q2, with a 54% decline in trading revenues, reflecting the impact of last year's crypto credit crisis and regulatory uncertainty.
💱 The Bank of Russia announced plans to test the digital ruble in an industrial environment, aiming to refine procedures and ensure user convenience in the next stage of the project.
🔗 Fantom Foundation is actively considering integrating optimistic rollups to connect the Fantom blockchain to Ethereum, aiming to access more liquidity from the Ethereum ecosystem.
📝 Nonprofit organization Better Markets urged the SEC to reject recent spot bitcoin ETF applications, citing concerns about investor harm and potential criminal activities.
📰 Vitalik Buterin said that he and the crypto community were skeptical about Sam Bankman-Fried and FTX right from the start, highlighting a lack of coherent vision for crypto's value.
📱 MetaMask has become the most popular crypto hot wallet, with over 22.66 million downloads, according to a report by CoinGecko.
🎵 Canadian musician Grimes revealed in an interview with Wired that she made more money from her NFTs in 2021 than from her entire music career, earning roughly $6 million.

Today in Crypto Adoption...

💻 Microsoft and Aptos Labs partnered to integrate AI technology into the Aptos Assistant and Github elements, aiming to enhance resources for developers and visitors within the Aptos ecosystem.
🏦💷 The Bank of England is seeking advisers for its digital pound project as it moves into the design phase, focusing on challenges of implementing a Central Bank Digital Currency (CBDC).

The $$$ Corner…

💼 Web3 security startup Cube3.ai, founded by Einaras Gravrock, emerged from stealth after a $8.2 million seed funding round.

What Do You Meme?

Learn 🤓

What Is a Smart Contract Audit?

Learn what smart contract audits are, what they typically entail, and the role they play in identifying vulnerabilities in web3.

📈 Your Market Update 📉

BTC is up 1.9%, trading at $29,795
ETH is up 1.6%, trading at $1,861
BTC dominance: 47.06%
Crypto market cap: $1.23 trillion

*All data as of today, 6:50 am ET

On Unchained Premium 💎

⛓️ Join Unchained Premium to get access to:

🎙️ Behind-the-scenes interviews, in which I talk with crypto experts and entrepreneurs to learn all about the latest developments in the industry.
💬 A subscriber-only Telegram group, where you can talk with the other members of the Unchained community, build a network in crypto, and talk directly with me and the Unchained team!
📰 Transcripts of all the shows, for subscribers only.

If You Like What You Read:

👯‍♀️ refer Unchained with a friend and earn a Premium subscription
Refer a friend
👍 follow Laura on Twitter, Facebook, Instagram, TikTok, Mastodon and/or LinkedIn
🎧 subscribe to Unchained on YouTube, Apple Podcasts, Spotify, Google Podcasts, Pandora or wherever you get your podcasts
and/or 📚buy my book, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze

Share Unchained