Gary Shilled ALGO!?️

In today's edition: 🎙️ New show on MEV distribution, 🤜 SEC goes after Bittrex, 😦Kyber urges users to withdraw, and more!

April 18, 2023

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On the Pod…

Maximal extractable value, or MEV, is a mainstay of the Ethereum landscape. But the process of validators reaping profits from handling new blocks is not without controversy. Ethereum Foundation researcher Justin Drake and bloXroute Labs CEO Uri Klarman assess the current state of MEV. Hear them disagree about the path forward for making Ethereum more fair for all its economic actors.

What’s Poppin’?

by Samyuktha Sriram

The regulator specifically named six tokens “securities” in a lawsuit filed against crypto exchange Bittrex.

Kyber Elastic’s TVL dropped by $95 million after liquidity providers were advised to withdraw funds as a precautionary measure.

The Terra founder sent a final payment to law firm Kim & Chang just ahead of UST and LUNA’s unraveling.

Four consecutive weeks of inflows into BTC funds and positive on-chain metrics could suggest the worst of the bear market is behind us.

Daily Bits…✍️✍️✍️

  • Coinbase CEO Brian Armstrong stated that the crypto exchange may consider relocating from the U.S. if regulatory clarity for the industry doesn't improve, with "anything on the table" to ensure the company's growth.

  • The New York Department of Financial Services adopted a regulation requiring crypto companies with a state-issued BitLicense to meet strict standards for capitalization, cybersecurity, and anti-money laundering protocols.

  • Agility, a DeFi platform focusing on liquid staking token trading, experienced a fivefold increase in locked value, reaching over $337 million after introducing an incentive program alongside Ethereum's Shapella upgrade.

  • Following Ethereum's Shanghai, crypto exchanges witnessed a net inflow of 179,500 ether (ETH), valued at around $375 million.

  • The Bank of England is considering implementing limits on stablecoin payments and plans to consult on new rules for the sector by year-end, according to Deputy Governor Jon Cunliffe.

Today in Crypto Adoption...

  • Nike is launching its "first digital-creation collection" on the platform .Swoosh, offering customers digital images of virtual shoe boxes for $19.82.

  • Crypto exchange Bybit established its global headquarters in Dubai, following the city's unveiling of licensing requirements for crypto entities.

The $$$ Corner…

  • Fractal, a startup offering a platform for crypto traders, raised $6 million in funding from Hack VC.

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Learn 🤓

Why prominent venture capitalist Balaji Srinivasan made a lopsided $2 million bet on Bitcoin—and the fate of the US economy. 

📈 Your Market Update 📉

  • BTC is up .1%, trading at $29,904

  • ETH is up .6%, trading at $2,104

  • BTC dominance: 43.79%

  • Crypto market cap: $1.32 trillion

*All data as of today, 7 am ET

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