Do Kwon Has No Plans to Remain in Detention 💨

In today's edition: 🤜 Do Kwon fights, 🤑 $90 million returned, 👀 a new stablecoin?, and more!

March 27, 2023

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On the Pod…

What’s Poppin’?

by Samyuktha Sriram

Do Kwon plans to contest a Montenegrin court’s order for a month-long detention as South Korea puts extradition plans in motion.

The Euler hacker returned $90 million worth of ETH to the protocol over the weekend, sending the EUL token up 60% in 30 minutes.

Coinbase wants developers to create a decentralized stablecoin on its Layer 2 network that will put purchasing power back in the hands of users.

Optimism-based lending protocol Kokomo Finance has allegedly stolen $4 million from users just two days after its launch.

Laura talks with Zhen Yu Yong, cofounder of Web3Auth, to discuss how his company aims to replace traditional seed phrases for a more convenient and secure experience in the world of crypto wallets.

Daily Bits…✍️✍️✍️

  • First Citizens Bank agreed to acquire the deposits and loans of Silicon Valley Bank. The depositors of the failed bank will become depositors of First Citizens Bank, with all deposits remaining insured by the FDIC.

  • Daily transaction fees for minting Bitcoin Ordinals hit an all-time high of 9.28 BTC. This surge of interest in digital collectibles was ignited by Bitcoin Apes, a variation of the popular Bored Ape Yacht Club NFT collection.

  • The Federal Reserve revealed that it denied Custodia Bank's application to join its system due to the bank's management, financial condition, and heavy reliance on digital assets, aiming to prevent additional links between the volatile asset class and traditional banking.

  • The Ethereum Foundation doubled its maximum bug bounty to $500,000 to incentivize the identification of vulnerabilities related to the upcoming Shapella upgrade, also known as Shanghai-Capella, which is set to release on the mainnet on April 12.

  • A previously inactive bitcoin wallet from the now-defunct BTC-e crypto exchange has revived in the last two weeks.  This wallet had received 3,299 BTC from a BTC-e wallet in November 2022. 

  • The newly appointed Superintendent of Cryptoassets in Venezuela ordered the closure of all cryptocurrency exchanges registered with Sunacrip, the country’s crypto regulator.

  • Swerve Finance, a decentralized finance (DeFi) protocol, is currently facing a governance exploit that aims to steal $1.3 million in stablecoins. 

Today in Crypto Adoption...

  • Matter Labs launched the first-ever zk-EVM on Ethereum Mainnet, zkSync Era.

  • MetaMask now allows users to securely sign in to web services using Ethereum with its implementation of the EIP-4361 standard, offering a self-custodial alternative to centralized identity providers.

The $$$ Corner…

  • Particle Network, a middleware platform, closed a $7 million seed round of funding from investors such as ABCDE, Animoca, Longhash Ventures, GSR Ventures, OP Crypto and HashKey.

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📈 Your Market Update 📉

  • BTC is up .31%, trading at $28,199

  • ETH is down 1.34%, trading at $1,787

  • BTC dominance: 46.39%

  • Crypto market cap: $1.18 trillion

*All data as of today, 6 am ET

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