TOP STORIES OF THE WEEK
BlackRock's iShares Files Paperwork for Spot Bitcoin ETF
BlackRock filed paperwork Thursday afternoon with the U.S. SEC for the formation of a spot bitcoin ETF with assets custodied by Coinbase. The SEC has notably rejected other fund management company attempts at opening a spot bitcoin ETF, including those from Grayscale, VanEck, WisdomTree, and many others. BlackRock, however, may not be as easy for the SEC to turn away. It's the world's largest asset manager with more than $10 trillion in AUM and the company and its CEO Larry Fink has political power to possibly match that of the SEC and its leader Gary Gensler. Indeed, only a single BlackRock filing has been denied across its 576 applications historically.
Polygon Labs Rolls Out Open Database for Blockchain Use Cases
Polygon Labs, the Ethereum scaling platform, has launched an open database showcasing positive use cases of blockchains. Called "The Value Prop," the database hosts as many as 39 use cases and over 300 applications, with numbers expected to increase. Polygon Labs conceived the project as a “Wikipedia for [blockchain] use cases", and the use cases are categorized under seven different verticals – education, security & risk management, social impact & sustainability, finance, business & marketing, governance and information technology.
Hong Kong regulator urges banks to accept crypto clients
The Hong Kong Monetary Authority (HKMA) is encouraging banking giants to accept crypto exchanges as clients, the Financial Times reported on June 15. While no restrictions hold Hong Kong banks back from accepting crypto clients, banks are wary of drawing regulatory scrutiny. Under the circumstances, HKMA is trying to motivate banks to take on crypto clients to further its aim of turning Hong Kong into a global crypto hub.
EigenLayer goes live on Ethereum with initial $17 million LST deposit limit
Re-staking protocol EigenLayer launched on Ethereum, enabling holders of liquid staking tokens to double down for additional yield — at the cost of extra risk. The core idea behind EigenLayer is that the staking security provided by ETH stakers can be re-used to secure other modules or actively validated services (AVS) on the network. The process bears some parallels to the concept of merge mining. While EigenLayer's deployment is an important first step, the TVL growth represents more of a signal for early support as there are not any modules deployed that restakers can opt-in to secure just yet.
Uniswap Labs Releases Its Plan for Uniswap v4, Invites Community Feedback
With the v4 upgrade, Uniswap Labs plans to expand on the DEX's coin-swapping capabilities with the introduction of “hooks” and custom liquidity pools. In a blog post published on Tuesday, Uniswap Labs CEO Hayden Adams described hooks as “plugins to customize how pools, swaps, fees, and LP positions interact.” Uniswap Labs is inviting community feedback on Uniswap v4 before its public launch, but some ecosystem participants have taken issue with the ask for open community help while releasing the v4 implementation under a Business Source License that limits the use of the source code in commercial or production settings for up to four years (i.e., it's the same license as v3 but for four years instead of two).
Polygon unveils plan to build network of ZK-based Layer 2 chains
The core team at Polygon has unveiled its plan for building Polygon 2.0 — envisioned as a network of zero-knowledge-powered Layer 2 blockchains. The team explained that the architecture of Polygon 2.0 is being designed to facilitate instantaneous and secure cross-chain interactions with Layer 2 chains without additional trust assumptions. The vision largely resembles Optimism's vision for the Superchain.
BITCOIN
Liquidations reach almost $130M as Bitcoin drops below crucial $25k level
Strike Expands Lightning-Powered Cross-Border Payments to Mexico
Ordinals 2.0 reduces bloat, brings smart contract-like functionality to inscriptions
Ordinals recursive inscriptions could unlock 3D video games on Bitcoin
Bitcoin spreads soar 20 times higher on BinanceUS than on Coinbase, Kraken: Kaiko
ETHEREUM
Frax Finance to launch Ethereum Layer 2 named Fraxchain
EigenLayer’s Restaking Smart Contracts Reach Max Limit on Same Day as Mainnet Launch, Pulling in $16M
Ethereum Devs Cry Foul on Uniswap v4 'Open Source' Promises
P2P.org’s Ethereum Staking Application Is Now Available on Popular Wallet Provider Safe
AWS experienced outages in the US, but Ethereum kept humming
Ethereum (ETH) Needs To Make Three ‘Crucial’ Transitions To Avoid Failure, According to Vitalik Buterin
ALTCOINS
Sturdy stablecoin market reopens three days after $800K exploit
MakerDAO Hikes DAI Savings Rate, Ousts Paxos Dollar, Curbs Gemini Dollar in Reserve
Curve’s (CRV) price hits a 1-year low amid looming liquidation threat
Arbitrum's New 'Layer-3' Xai Network Is Built to Power Web3 Games
Polkadot Revamps Governance System, Removes ‘First Class Citizen’ Voting Groups
Curve founder returns 1.3 million USDT to Aave to curb liquidation risk
Aave proposal to freeze alleged Curve founder’s loans draws controversy
The Graph migrates to Arbitrum to enhance scalability
Cardano’s DeFi TVL surges past 500 million ADA amid growing ecosystem interest
Polkadot, Cosmos to Bridge Pseudonymous IDs via peaq, Fetch.ai
Blur set to increase circulating supply by 40% with $60 million token unlock
XRP Prices Jump as Hinman Speech Released in Ripple Labs Filing
Venus Protocol faces liquidation on $150 million BNB loan as team takes preemptive action
Curve Finance Founder Deposits $24M CRV into Aave to Safeguard $65M Stablecoin Loan
Terra Founder Do Kwon Allegedly Moved $29,000,000 in Crypto Away From Luna Foundation Guard After Arrest: Report
Court Finds a 'DAO Is a Person,' Owes $643,542 in Shutdown Order
STABLECOINS
Coinbase customers can now earn 4% USDC rewards despite SEC scrutiny
Tether stops fighting freedom of information request, allows disclosure of reserve data
BUSD dips beneath DAI market cap after $95 million burn
Tether CTO Says 'Let Them Come' as Stablecoin's Dollar Peg Wobbles
USDT Selling on Curve, Uniswap Spooks Traders Amid Bitcoin Drop
MakerDAO Weighs Ditching $390M of Gemini Dollars from DAI Reserve
TUSD regains $1 parity after three-day depeg
Australian payments firm Novatti expands its AUDD stablecoin to XRP Ledger
Tether treasury sends Binance $750M USDT in chain swap transaction
Tether mints 1 billion of USDT on Ethereum to support chain swaps
Former CFTC Chairman Heath Tarbert Joins Circle as Chief Legal Officer
US House Financial Services Committee Republicans Reach Some Compromise With Democrats on Latest Version of a Stablecoin Bill
TrueUSD Loses Dollar Peg Following Minting Suspension with Prime Trust
CRYPTO ECOSYSTEM
Lens Protocol Releases Open Governance Framework
Jack Dorsey's Block Bitcoin Wallet Opens Beta, Announces Coinbase Support
Unveiling the Uniswap Foundation's Bridge Report: Winners and Losers
‘Who the hell’ is Prometheum and what did it say to Congress about SEC compliance?
Prime Trust Partner Banq Files for Bankruptcy Following BitGo Deal
Bitcoin and Ethereum subscribers on Reddit reach all-time high
TRON brings in investment firm DWF Labs to add liquidity to ecosystem
Prime Trust subsidiary Banq declares bankruptcy
Crypto Lender Genesis Amends Reorganization Plan as Mediated Talks Continue
Crypto Earn Platform Haru Invest Freezes Withdrawals, Citing Service Partner Issue
Crypto Investing Platform Finblox Starts Offering Tokenized Treasury Yield With OpenEden
BlockFi has to update wallet, platform before distributing funds
Ripple expands Canadian engineering activities with U of Toronto XRP validator
Galaxy Digital wins dismissal of BitGo lawsuit, looks to non-US markets amid ‘legislative stalemate’
Blockchain Staking Provider Chorus One Expands to Peer-to-Peer Network Urbit
Crypto Global Bid and Ask Metric Plunged 20% Over Weekend, Points to Paper Thin Liquidity
Exodus’ profitability soars despite decline in revenues
Jack Dorsey-Backed Nostr Platform Collaborates with Zebedee to Create New Social Media Later – How Does it Work?
Custodia's Suit Against Fed Over Denial of Master Account Can Proceed, Court Rules
Crypto unicorn TaxBit cuts staff by 40%: The Information
NFTS / GAMING / METAVERSE
ApeCoin DAO Special Council Six-Figure Salaries Sparks Tension
Adidas Reveals Sneaker Collab With NFT Artist Fewocious
Snoop Dogg's NFT Tour Pass Lets Fans 'Travel the World' With Him Virtually
Crypto hype machine MoonPay gifted Hollywood celebs Bored Apes to promote itself: sources
Ether.fi Launches NFTs Backed By Staked ETH
Thirdweb Plots Web3 Gaming Push With Ex-Facebook Exec Hire
MINING
Binance launches Bitcoin mining cloud services amid SEC crackdown in the US
Bitcoin Miner Crusoe Energy Secures 50 BTC on Newly Launched Liquidity Platform Block Green
Tick tock, next block: Bitcoin difficulty sees another positive adjustment
Bitcoin Infrastructure Firm Blockstream to Unveil Its Long-Awaited Mining Rig in 3Q of 2024
Bitmain's S19 Bitcoin Miners Account for Bulk of Network Hashrate, Says New Research
Bitcoin Miners Transfer $174M Worth of Coins to Exchanges in Two Weeks
Hut 8 Says Repairs to Damaged Crypto Mining Equipment Are Taking Longer Than Expected
EXCHANGES
Binance Shrinks EU Presence: Exits Netherlands after Cyprus
Coinbase redeems $65M in convertible notes at 29% discount
Exchanges pledged $2.5B to user protection funds amid FTX’s collapse: Report
Crypto Exchange OKX Wins Preparatory License in Dubai, Set to Boost Staff
Crypto Exchange Bybit Integrates ChatGPT Into Trading Tools
Crypto Exchange Bit2Me Raises $15M to Grow in Spain and Latin America
Voyager app set to reopen for customer withdrawals as soon as June 20
Binance Gears Up To Leave Cyprus Ahead of New EU Regulation To Focus On Other Markets: Report
eToro to delist Polygon, Decentraland, Dash and Algorand on US platform
Binance CEO denies selling Bitcoin amid market manipulation allegations
Bankrupt Crypto Exchange Bittrex U.S. Set to Allow Withdrawals Starting Thursday
Bitstamp, Interactive Brokers gain UK crypto register approvals
Investing Platform eToro to Delist Four Cryptocurrencies for U.S. Users Next Month
Binance.US hires former SEC enforcement official amid lawsuit: Report
Coinbase Invited To Move to Hong Kong By Regulators As SEC Lawsuit in US Develops
Binance US Market Shrinks 78% in Just 7 Days After SEC Lawsuit
Robinhood saw crypto trading volumes plummet 43% in May
Binance.US sees 78% decline in market depth following SEC lawsuit
Moody’s Drops Coinbase Outlook From Stable to Negative Over Medium Term
Binance's BNB Token Saw Millions in Sell Orders Right Before SEC Lawsuits
Binance CEO CZ responds as data points to billions in exchange outflows
FTX authorized to ‘permanently redact’ names of individual customers: Report
Hong Kong legislator invites Coinbase to the region despite SEC scrutiny
SEC Asks Courts for Permission To Hunt Down Binance CEO Changpeng Zhao via ‘Alternative Means’
Binance Faces Regulatory Hurdle in Nigeria: Ordered to Cease Operations
CAPITAL RAISES
Interoperability Protocol Connext Labs Raises $7.5M at $250M Valuation
DeFi Protocol Maverick Raises $9M Led by Peter Thiel's Founders Fund
Blockchain-Based, AI Compute Protocol Gensyn Closes $43M Series A Funding Round Led by a16z
INVESTMENT MANAGEMENT
Crypto fund outflows reach $417M over 8 weeks as investor caution persists
21Shares expands crypto ETP offerings with Lido DAO exposure
Curve Founder Says VCs Seek to Leverage “Hostile Crypto Climate” in U.S.-Based Lawsuit
a16z opening London crypto office citing ‘predictable’ environment
TRADFI / TECH
Apple rejects latest version of Bitcoin wallet Zeus
AMD reveals new AI chip challenging Nvidia’s dominance
Apple threatens to remove Damus from App Store over Bitcoin Lightning payments
Reddit’s Crypto Communities Go Dark In Support of Protest Against API Changes
EU Consumer Watchdog Slams Instagram, TikTok for Enabling Crypto Scams
CBDC
EU’s Leaked Digital Euro Bill Outlaws Interest, Large Holdings, Programmability
China to Showcase Digital Yuan at Summer World University Games
U.S. Treasury Examining How Using Digital Dollars Could Be Kept Private
Thailand launches retail CBDC pilot with 2 banks and Singapore payment service
Overwhelming Majority of Americans Oppose US CBDC That Would Allow Government to Track and Control Spending: Survey
Hong Kong Monetary Authority to Prepare for Retail CBDC
REGULATORY / COUNTRIES
FDIC Targets Crypto Exchange OKCoin Over ‘False’ Insurance Assertions
Avraham Eisenberg’s criminal trial set for December 4: Bloomberg
Ukraine Wants to Tax Crypto Gains at 18% from 2024
Crypto Lobbyists Ask SEC for Info on Prometheum, The Mysterious 'Regulated' Crypto Firm
EU regulator will launch MiCA consultation starting in July
Ripple partners with Colombia’s central bank to explore blockchain use cases
U.S. Justice Department Agrees to Try Sam Bankman-Fried on Original Charges Only for Now
Brazil Appoints Central Bank and Securities Commission as Crypto Market Regulators
Genesis and Gemini File for Dismissal of SEC's Earn Program Lawsuit – Here's the Latest
SEC snubs Coinbase’s seven-day rulemaking request but could act by October
House Republicans tell SEC to refrain from expanding defintion of exchange
Gary Gensler used to be much clearer on which cryptos are securities
SEC comments on Hinman speech released in Ripple Labs filing
Sygnum Inches Closure to Get Singapore's Payment Institution License
SEC’s Gensler says BTC, ETH ‘not securities’ in a newly surfaced video
Jump Trading seeks to move Terra class-action lawsuit to California
Binance Fights Back Against SEC Lawsuit Over Alleged Securities Violations
Crypto-Friendly Congressmen Draft Bill to Reform SEC, Fire Gary Gensler
US, UK lawmakers to hear arguments around crypto regulations on June 13
Lummis Renews Commitment to US Crypto Regulation: ‘The Fight is Far From Over’
SEC Crypto Crackdown Adds Urgency for U.S. Lawmakers to Produce Regulatory Framework This Year: JPMorgan
EU starts countdown to crypto legislation, adds MiCA to official journal
EU Governments Friendly to Tough Crypto Bank-Capital Restrictions, Negotiator Says
Nigeria to tax crypto, digital assets 10% on capital gains — Experts react
U.S. Justice Department Charges Two Russian Nationals for Involvement in Infamous Mt. Gox Crypto Exchange Hack
‘Get out of crypto platforms now,’ former SEC chief warns
Gary Gensler Says Crypto Industry Teeming With Hucksters, Fraudsters, and Ponzi Schemes: Report
Solana, Cardano, Polygon Push Back Against SEC 'Security' Label
Russian and Iranian Crypto Sectors in Cooperation Talk
SURVEYS, HACKS, MISC
Crypto Broker FPG Suspends Services After $15 Million Cyberattack
Depicting Powell’s speech: Higher for longer
Hashflow assures users will be made whole following $600K exploit
Pro-Bitcoin Miami Mayor Francis Suarez files for 2024 presidential bid
Haru Invest files criminal complaint against consignment operator
SBF seeks to sever new charges from trial, says proceedings may take ‘years’
North Korea’s Lazarus Group reemerges with new $100 million crypto hack
Someone Flash Loaned $200M From MakerDAO to Make $3 Profit
DeFi lending protocol Sturdy Finance offers $100,000 bounty to its attacker
Bitcoin Ordinals Hype Lures Meme Token Traders Into Wallet Drainer Attack
Scammers steal nearly $1M after hijacking 8+ prominent Crypto Twitter accounts
Lending protocol Sturdy Finance drained of $800,000 in security attack
Founders of Collapsed Crypto Fund, Three Arrows Capital, Turn to Bali and Shrooms
