Which Bitcoin ETF Is Right for You? 🫡
In today’s edition: 🏛️ Testimony against Do Kwon, 💰 Multicoin's $100M FTX claim, 🚀 Farcaster's 500% user boost, 💹 LINK's remarkable return, and more!
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Trying to regulate DeFi is a huge challenge because in a truly decentralized system, there should be no centralized actors to make and enforce rules for. This could make combating illicit finance challenging since traditionally, regulation has been targeted at centralized intermediaries. Yet Rebecca Rettig, Chief Legal and Policy Officer at Polygon Labs; Michael Mosier, the co-founder of boutique law firm Arktouros; and Katja Gilman, senior lead for public policy at Polygon Labs, published a paper last week that proposes to do just that.
Rebecca and Michael join Unchained to discuss what prompted them to write the paper, what the difference is between “onchain CeFi” and “genuine DeFi,” how targeting high-risk wallets can be one part of the solution, how critical communications transmitters (CCTs) are another piece of the puzzle, and what next steps they are pursuing.
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
What’s Poppin’?
by Kari McMahon, Sam Sriram, Brandy Betz, and Sage Young
There Are Now 11 Spot Bitcoin ETFs. Here’s the One That’s Best for You
Are you a hodler, trader, or true believer? Here are Unchained’s recommendations for the best spot bitcoin ETF based on what type of investor you are.
Former Terraform Developer Testifies Against Do Kwon: Report
A former Terraform Labs developer has testified that the firm’s co-founders Do Kwon and Shin Hyun-seung knew they were in violation of local securities laws when they promoted the TerraUSD stablecoin as a payment option.
Multicoin Capital Looking to Sell $100 Million FTX Bankruptcy Claim: Report
Crypto investment firm Multicoin Capital is reportedly in talks to sell its $100 million FTX bankruptcy claim. Multicoin had 10% of its funds stuck on the crypto exchange when it collapsed and significant exposure to FTT, SOL and SRM.
Farcaster’s User Base Skyrockets Nearly 500% After Frames Launch
The Optimism-based social protocol Farcaster launched the Frames app on Jan. 26 to let users turn posts into interactive applications.
FTX Seeks Bankruptcy Court Approval to Sell $1.4 Billion Stake in AI Startup Anthropic
The bankrupt crypto exchange FTX could repay creditors and customers from the proceeds obtained by selling the 8% stake in the AI startup.
LINK Jumps to Two-Year High; Now Knocking at the Door of the Top 10 Cryptos by Market Cap
Chainlink’s native cryptocurrency LINK has returned to a price level not seen since Jan. 2022 and now has a market cap exceeding $11.2 billion.
Daily Bits…✍️✍️✍️
🇰🇷 South Korean authorities arrested three executives from yield platform Haru Invest, including the CEO, for allegedly embezzling $828 million in crypto from about 16,000 customers.
🚔 Terraform Labs' former chief financial officer Han Chang-joon was extradited to South Korea from Montenegro for legal proceedings, as decided by Montenegro's Ministry of Justice.
🤝 South Korean Financial Supervisory Service head plans discussions with the U.S. SEC about spot Bitcoin ETFs, focusing on crypto regulation.
⚖️ A court ordered Ripple to provide its financial statements for 2022 to 2023, as part of the ongoing SEC case, focusing on post-complaint contracts and institutional XRP sales.
🚨 U.S. Treasury Secretary Janet Yellen warned Congress about crypto risks, highlighting the “dangers of stablecoins” and potential for runs on digital assets.
🔓 EigenLayer temporarily removed its ether (ETH) staking cap, resulting in a rapid $750 million increase in total value locked (TVL).
🎨 Bitcoin NFT project Taproot Wizards' "Quantum Cats" collection sold out, earning nearly $13 million despite technical delays.
Today in Crypto Adoption...
🌐 Ethereum Name Service collaborated with GoDaddy to link blockchain wallet addresses with conventional web domains, bridging Web2 and Web3.
The $$$ Corner…
💸 Oobit, a crypto mobile payments firm, raised $25 million in a Series A round with key investors including Tether, Solana's cofounder Anatoly Yakovenko, CMCC Global and 468 Capital, aiming to simplify crypto transactions for consumers.
💡 Nibiru Chain secured $12 million from Kraken Ventures and others, enhancing its developer-focused layer 1 chain with high transaction speed and robust security features.
What Do You Meme?
Recommended Reads
CoinDesk: China Never Completely Banned Crypto
Unchained: What Is the Double-Spending Problem in Blockchain?
cygaar on Farcaster, a decentralized social media protocol built on Optimism
📈 Your Market Update 📉
BTC is down .8%, trading at $42,745
ETH is down .1%, trading at $2,320
BTC dominance: 48.77%
Crypto market cap: $1.72T
*All data as of today, 06:45 am ET. Source: CoinGecko
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