Should Ethereum's Issuance Curve Change? 🤔
In today’s edition: 🏛️ Binance faces trial in Nigeria, 🎮 Crypto: The Game sequel frenzy, 🏆 2024's winning crypto trends, 🔝 Bitcoin's demand surge, 💰 Galaxy Digital's $100M venture fund, 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.
What’s Poppin’?
by Juan Aranovich, Sam Sriram, Jacob Oliver, and Sage Young
Why the Ethereum Community Is Up in Arms Against a Proposal to Change the Monetary Policy
Ethereum researchers claim that a high staking ratio is bad for the network as well as for ether (ETH) as an asset. They’re proposing a solution, but is it worth the cost?
Binance on Trial: Nigerian Prosecutors Target Exchange and Executives Alike in Criminal Trial
Nigerian prosecutors are seeking to hold Binance and two of its officers equally accountable on charges related to money laundering and tax evasion.
Crypto: The Game’s Second Installment Maxes Out Player Roster in 15 Minutes
The sequel to the hit onchain game, “Crypto: The Game,” saw 800 players secure their spots for 0.1 ETH each, bringing the winning pot size to over $263,000.
The 8 Most Profitable Crypto Narratives in Q1 2024: CoinGecko
Memecoins, real-world assets (RWA), and artificial intelligence (AI) tokens led the way with the highest returns in the first quarter of this year.
Bitcoin Realized Cap Reaches New High of $540 Billion: Glassnode
Fresh demand and liquidity are pouring into bitcoin, say analysts at Glassnode, noting that the realized cap metric has increased at an “unprecedented rate” of $79 billion per month.
Galaxy Digital Plans to Launch $100 Million Crypto Venture Fund: Report
The Galaxy Ventures Fund I, LP, will aim to invest in 30 startups over the next three years, targeting firms building financial applications, software infrastructure and crypto protocols.
Daily Bits…✍️✍️✍️
💬 The SEC opened a three-week comment period for proposed Ethereum ETFs by Grayscale Investments, Fidelity, and Bitwise, a standard step in the approval process similar to prior Bitcoin ETF applications.
🔒 Binance stated that Tigran Gambaryan, detained in Nigeria, lacks decision-making authority at the firm and shouldn't be held accountable amid ongoing negotiations with the Nigerian government, following his and another executive's detention on tax evasion charges.
🚀 Investment firm VanEck predicts Ethereum layer 2 networks could reach a $1 trillion valuation by 2030.
🏛️ Irina Dilkinska, the legal chief for OneCoin, was sentenced to four years for her role in the crypto pyramid scheme, including forfeiting $111.4 million.
🔚 Effective Ventures Foundation, a UK charity funded by FTX with $26.8 million, plans to shut down, ceasing to sponsor new projects and transitioning existing ones elsewhere. The charity is also selling its Oxfordshire manor, which it bought with a $21.5 million grant in 2021.
🔗 Frax Finance partnered with Noble to introduce the Frax stablecoin and sFrax tokens to the Cosmos ecosystem, offering a decentralized stablecoin alternative across interconnected blockchains.
Today in Crypto Adoption...
👨⚖️ The Bank of England and the FCA are aiming for autumn 2024 to introduce the first cohort of applicants to the UK's Digital Securities Sandbox, encouraging the adoption of digital asset technologies in financial markets.
The $$$ Corner…
🚀 Zeus Network, a Solana interoperability layer, raised $8 million, valuing the firm at $100 million, with funding from Mechanism Capital and other investors. It’s also poised to launch its token today.
🎮 Hychain Games is set to launch a closed beta of its Web3 game Hytopia, a Minecraft-inspired venture, after closing $8 million from a node sale to secure its layer 2 blockchain, Hychain.
🧠 Raiinmaker, a Web3 artificial intelligence firm, secured $7.5 million in seed funding to develop decentralized AI tools and infrastructure in a round co-led by Jump Capital and Cypher Capital.
What Do You Meme?
Recommended Reads
Can a Staked ETH ETF Work for US Tax? By Jason Schwartz, aka Cryptotaxguy
DL News: Missed Ethena’s $500m airdrop? The DeFi project is already planning the next one
📈 Your Market Update 📉
BTC is down 0.2%, trading at $66,248
ETH is down 0.2%, trading at $3,335
BTC dominance: 49.62%
Crypto market cap: $2.63T
*All data as of today, 06:20 am ET. Source: CoinGecko
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