Aping Into 3AC NFTs? 🤡

In today's edition: 🕵️ FTC looks into Voyager, 📈 Abritrum transactions, 📉 BUSD depegs, and more!

February 23, 2023

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On the Pod…

What’s Poppin’?

The Federal Trade Commission has objected to Voyager’s proposed plan to sell its assets, arguing that it gives them a discharge to which they are not entitled.

A surge in on-chain activity has seen Arbitrum surpass Ethereum in daily transactions for the first time this week.

The TON community has voted to freeze inactive genesis miner wallets for four years to optimize its tokenomics.

Polyscan failed to update on Wednesday after Polygon saw a 157 block reorg.

In Other News…✍️✍️✍️

  • Lawyers for Sam Bankman-Fried agreed to appoint an independent technical expert to advise the court regarding his bail conditions.

  • The liquidators of Three Arrows Capital (3AC), Teneo, are putting up for sale a collection of NFTs purchased by the failed crypto hedge fund to realize their value for the liquidation.

  • Voyager Digital's asset sale to Binance US is proceeding with 97% creditor approval, according to Voyager's lawyers, but US regulators are objecting to it. 

  • Binance is shifting to a "semi-automated" method for handling the tokens it issues to manage its reserves, following years in which its reserves were combined with customer funds.

  • The Binance USD (BUSD) stablecoin experienced a sudden and temporary decline to 20 cents against DAI.

  • After appearing on The Chopping Block, the founder of NFT marketplace Blur revealed his identity. 

  • Messari laid off 15% of its workforce as part of a restructuring process.

  • A US district judge gave the green light for a class-action lawsuit against Dapper Labs for allegedly violating securities laws by selling NBA Top Shot Moments NFTs without proper registration and disclosure.

  • US Congressman Tom Emmer introduced a bill to prevent the Federal Reserve from issuing a central bank digital currency. 

  • The Canadian Securities Administrators banned algorithmic stablecoins and set new requirements for stablecoins to be legally compliant, including the need for monthly audited fiat backing.

  • The Bank of Israel proposed rules for stablecoins, including a 100% reserve requirement. 

  • Immutable, an Australian cryptocurrency gaming company, is reducing its workforce by 11%.

Today in Crypto Adoption...

  • BlackRock is launching a new ETF that will concentrate on tech firms involved in the metaverse, despite some institutional investors losing enthusiasm for the idea following the recent bull market boom.

  • Spotify introduced token-enabled playlists, allowing users who own certain NFTs to gain access to exclusive content and experience unique interaction with the music platform.

The $$$ Corner…

  • Indian gaming startup Kratos Studios raised $20 million in a seed funding round led by Accel.

What Do You Meme? 

📈 Your Market Update 📉

  • BTC is up 1.1%, trading at $24,351

  • ETH is up 1.63%, trading at $1,666

  • BTC dominance: 40.82%

  • Crypto market cap: $1.15 trillion

*All data as of today, 5 am ET

Recommended Reads

  1. Brendan Malone from Paradigm on geopolitics and crypto:

  2. EigenLayer whitepaper:

  3. Fortune Crypto: Binance aggressively converted rivals' stablecoins in a massive cash grab. It didn't always tell its customers

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