Why Everything Changed With NFTs 🖼️
In today's edition: 🎙️ New episode on NFTs, 🚫 DCG's institutional trading unit, 🗣️ Andre Conje on Multichain, and more!
What’s Poppin’?
by Samyuktha Sriram
DCG to Shut Down Institutional Trading Unit TradeBlock
The Digital Currency Group plans to close down its prime brokerage subsidiary TradeBlock on May 31.
4 Key Points in the Legal Challenge to U.S. Treasury’s Tornado Cash Sanctions
The six individuals seeking to overturn the U.S. Treasury’s sanctions on Tornado Cash argued that the government has improperly interpreted the IEEPA and free speech clause of the First Amendment.
Fantom Most Exposed to Multichain Wrapped Tokens: Why Andre Cronje Isn’t Concerned
Fantom Foundation director Andre Cronje said that the $2.4 million MULTI withdrawal from liquidity pools on SushiSwap to a cautionary measure.
Binance to Launch NFT Loans Feature With Zero Gas Fee
Binance will enter the NFT lending market with the launch of a new feature that allows users to secure an ETH loan using their NFTs as collateral.
New Pod Today!
Ethereum L2s Are About to Be the Hot New Thing in NFTs
It’s in the name: mint.fun. Cofounder Luke Miles joins the show to talk about his platform’s efforts to make NFTs more discoverable, more accessible and more fun. He also shares his on-the-ground perspectives on emerging trends in the NFT space — everything from Bitcoin Ordinals to the rise of Ethereum L2s as NFT hot spots. With last cycle’s NFT mania in the rearview, what’s next?
Daily Bits…✍️✍️✍️
👨⚖️ Alex Grebnev, CEO of Maps and Oxygen crypto projects associated with Sam Bankman-Fried's FTX, is facing a lawsuit from Cointelegraph owner Gregory Fishman over alleged fund misappropriation and idea theft.
🔒 Binance temporarily halted deposits for 10 tokens operating on multiple blockchain networks due to complications with the Multichain bridge project.
💬 Presidential candidate Vivek Ramaswamy said he is the only candidate with sufficient understanding of Bitcoin to discuss it intelligently, following fellow contender Ron DeSantis's recent comments of support for the world’s most dominant cryptocurrency.
📃 South Korean legislators enacted a law requiring officials to report their cryptocurrency holdings to address potential conflicts of interest, prompted by concerns about a former lawmaker's sizable crypto assets.
🔄 VC firm Paradigm is shifting its focus from solely cryptocurrency to a broader spectrum of "frontier tech," including artificial intelligence, marking a rebrand in light of industry volatility and regulatory ambiguity.
🎨 Since its launch on May 1, Blend has captured 82% of the NFT lending market, achieving a trading volume of approximately $308 million. (Learn more about Blend here).
🔒🇰🇷 A former executive of South Korea's Coinone exchange accepted allegations of securing $1.51 million in bribes to list specific digital assets, as reported by local media outlets.
📱 French legislators reached a consensus on a less restrictive law that permits social media influencers to promote products of cryptocurrency firms registered with the Financial Markets Authority.
⏰ The planned Nasdaq listing of Coincheck, a Japanese cryptocurrency exchange, via a merger with SPAC Thunder Bridge Capital Partners IV, may be postponed for up to a year, as the July 2 deadline for the merger is unlikely to be met.
Today in Crypto Adoption...
🇧🇷 Brazil's central bank chose 14 participants, including top local banks, Visa, and Microsoft, for its central bank digital currency (CBDC) pilot set to begin in mid-June 2023.
The $$$ Corner…
🌍 Tools for Humanity, the main developer of Sam Altman’s Worldcoin project, raised $115 million in a funding round spearheaded by Blockchain Capital. (Curious about Worldcoin? Don’t miss this interview).
💰 Hong Kong-based asset manager, Metalpha, received a $5 million investment from Bitmain for a fund focused on Grayscale products, contributing to its overall goal of raising $100 million.
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🏠 Real Estate Tokenization: What Is It & How Does it Work?
Real estate tokenization is revolutionizing the property sector, broadening access to real estate assets for investors and creating fresh funding avenues for developers.
📈 Your Market Update 📉
BTC is up .9%, trading at $26,454
ETH is up 1.6%, trading at $1,813
BTC dominance: 44.23%
Crypto market cap: $1.16 trillion
*All data as of today, 7:00 am ET
Recommended Reads
Big Floppa on BTC’s new SRC-20 Standard
Dan Elitzer on why DeFi is broken and how to fix it
Sandra’s summary of the ongoing proposal to turn on the fee switch for Uniswap
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