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- 🔍 4 Months for CZ: Is It Fair?
🔍 4 Months for CZ: Is It Fair?
In today’s edition: 📉 Renzo and Kamino tokens plummet post-airdrop, 💹 Rise of RWA protocols in crypto, 🧐 Glassnode identifies key seller group, 😬 Hashprice hits all-time low, 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.
In this episode of Unchained, host Laura interviews Alexei Zamyatin, co-founder of Build on Bitcoin (BOB), Willem Schroé, founder of Botanix Labs, and Orkun Kılıç, co-founder of Chainway Labs. They discuss their respective projects, all of which are focused on developing Layer 2 solutions for Bitcoin.
Zamyatin’s Build on Bitcoin is a hybrid Layer 2 that connects to both Bitcoin and Ethereum, aiming to bring innovation back to the Bitcoin ecosystem. Schroé’s Botanix Labs is developing a decentralized Layer 2 solution using the ‘Spiderchain,’ which uses a series of multi-signature wallets to secure the chain. Kılıç’s Chainway Labs is building Citrea, a zk-Rollup on Bitcoin that aims to create a Bitcoin-backed economy.
All three projects are in various stages of development and testing, with BOB’s mainnet launch expected shortly.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
What’s Poppin’?
by Sam Sriram, Sage Young, Kollen Post, and Michael Bodley
How fair was the founder and former CEO of Binance’s sentence? See how it stacks up to other recent banking prosecutions across crypto, tradfi, and the casino industry.
The former chief of Binance, Changpeng Zhao, was sentenced by a Seattle judge to four months behind bars for violating the Bank Secrecy Act.
Tokens REZ and KMNO have both decreased substantially since their market debut early Tuesday, continuing a trend for recently airdropped tokens.
As memecoins drive much of the trading activity on one end of the crypto market, protocols with perhaps a more legitimate use case are quietly growing in value.
Onchain analysts at Glassnode have identified the cohort of investors behind the duration and depth of each market pullback, noting that we are still within “the Euphoria zone.”
While Bitcoin’s new non-fungible feature, Runes, has attracted attention and initially buffered the bottom lines of miners, its usage quickly plummeted.
Blockchains including Celo have recently chosen Optimism’s OP Tech Stack to deploy Layer 2s on Ethereum.
📈 Your Market Update 📉
by Juan Aranovich
With bitcoin, ether, and solana facing sharp declines, some point to dwindling bullish catalysts and regulatory risks, while others see potential for a market rally.
BTC is down 6.7%, trading at $57,523
ETH is down 5.1%, trading at $2,886
BTC dominance: 49.73%
Crypto market cap: $2.25T
*All data as of today, 06:57 am ET. Source: CoinGecko
Daily Bits…✍️✍️✍️
📉 Justin Sun's USDD stablecoin depegged again, trading at $0.97, amidst broader struggles within Sun’s cryptocurrency ventures, including issues with Poloniex's wrapped bitcoin and TUSD stability.
📜 Efforts to pass US stablecoin legislation by attaching it to the FAA reauthorization bill have been stalled, with congressional leaders opting for a clean bill.
👨⚖️ Roger Ver, also known as "Bitcoin Jesus," was indicted for tax fraud related to undeclared capital gains from selling bitcoin in 2017 and is currently awaiting extradition from Spain.
💼 BlackRock's USD Institutional Digital Liquidity (BUIDL) Fund reached $375 million in assets under management, slightly outperforming Franklin Templeton’s FOBXX mutual fund.
💰 The FTX estate concluded its second sale of locked solana tokens with successful bids of around $100 per token, involving 1.8 million SOL.
👨⚖️🔒 In Finland, a hacker was sentenced to nearly seven years in prison for blackmailing 30,000 psychotherapy patients, demanding over $500,000 in bitcoin.
Today in Crypto Adoption...
⚡ Coinbase introduced support for the Lightning Network to provide faster and cheaper bitcoin transactions, aiming to enhance the user experience significantly.
💳 Uniswap now allows users to buy cryptocurrencies using Robinhood Connect, enabling purchases with Robinhood funds, debit cards, or bank transfers, and offers a promotional $10 USDC for first-time buyers.
The $$$ Corner…
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