Signature: ‘No Real Insolvency’ 🤷♀️
In today's edition: 🎤 New episode on Ethereum's Shanghai, 🚀 BTC rockets, 📨 regulators 'send a message', 🙈 $197 million lost, and more!
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New Show Today!
How Will ETH React to Ethereum’s Shanghai Upgrade?
ETH staking began in December 2020. With Ethereum’s Shanghai upgrade, which could happen as early as mid-April, withdrawals of staked ETH will finally be enabled. Will validators rush to cash out? Or will Shanghai bring more institutional stakers into the fold? Christine Kim, VP of research at Galaxy Digital, joins the show to discuss how Etheruem’s latest upgrade will affect the network, and maybe even ETH’s price.
What’s Poppin’?
by Samyuktha Sriram
Was Signature Bank Actually Insolvent?
Signature board member Barney Frank thinks regulators closed the bank down to send “a strong anti-crypto message.”
Euler Finance Loses $197 Million in Flash Loan Exploit
An attacker made off with $197 million worth of crypto after executing a flash loan exploit on DeFi lending protocol Euler Finance.
Meta Winds Down NFTs on Facebook and Instagram
Meta is ending support for NFTs to focus on other areas of its business, less than a year after the feature was first launched.
Ethereum Co-Founder Vitalik Buterin Bought USDC at $0.88
Vitalik Buterin is one of the few who bought USDC at a discount after the stablecoin lost its peg to the U.S. dollar over the weekend.
Learn With Unchained 🤓
zkEVM: The Computing Overhaul to Help Scale Ethereum
by Ben Munster
zkEVMs would make Ethereum’s computing infrastructure compatible with a new, faster way of batching transactions off-chain.
In Other News…✍️✍️✍️
The FDIC is making a second attempt at auctioning off the failed Silicon Valley Bank (SVB) after its initial one over the weekend was unsuccessful.
US law enforcement agencies, including the FBI and the Southern District of New York, are investigating the collapse of the TerraUSD stablecoin and have questioned former team members of Terraform Labs.
Prominent trading firms, including Jump Trading Group and Jane Street Group, are being investigated by US prosecutors over discussions in chat groups about TerraUSD.
Coinbase stopped trading of the Binance USD (BUSD) stablecoin on its platform. In addition, the exchange expressed its interest in listing securities if provided with proper guidance from the SEC.
Binance will suspend GBP deposits and withdrawals following an announcement from its payments partner Paysafe that it will no longer support these transactions, affecting both new and existing users.
OKCoin, the U.S. affiliate of OKX, temporarily halted the deposit of U.S. dollars and over-the-counter services due to the collapse of its primary bank, Signature Bank.
The $$$ Corner…
Jungle, a web3 gaming studio from Brazil, raised $6 million in a seed funding round.
Arthur Cheong's crypto investment firm, DeFiance Capital, completed the first close of a new $100 million liquid token fund.
What Do You Meme?
📈 Your Market Update 📉
BTC is up 10.38%, trading at $24,291
ETH is up 6.08%, trading at $1,668
BTC dominance: 43.23%
Crypto market cap: $1.09 trillion
*All data as of today, 6 am ET
Recommended Reads
DeFi Cheetah on LUSD:
MEV on Ethereum by bertcmiller
Sreeram Kannan on based rollups
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