SBF Can't Pay His Legal Fees? 🤔

In today's edition: 🎙️ New episode of The Chopping Block!, 💵 SBF's request, 🙅‍♂️ Euler Finance's ultimatum, and more!

March 16, 2023

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New Show Today!

Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Robert Leshner, Tom Schmidt, and Tarun Chitra chop it up about the latest news. This week: Silicon Valley Bank went belly up and knocked USDC off its peg with it. For good measure, Signature Bank was taken over by regulators. After a hellish weekend, what did we learn?

In this Premium interview, Laura speaks with Nick Bax, Head of Research at Convex Labs, about traceability in blockchain, Monero's evolving privacy and payment IDs, Zcash's anonymity, privacy developments in blockchain transactions, and more!

What’s Poppin’?

Sam Bankman-Fried filed a motion to permit FTX insurers to reimburse and advance costs related to his legal defense.

Euler Finance has given its exploiter the option to keep $20 million or face the consequences of law enforcement.

Coinbase said it can’t guarantee the “exact wait time” for rewards from unstaked ETH to be processed.

Circle said it has redeemed $3.8 billion and minted $800 million USDC since Monday after events that impacted liquidity operations.

📖 Unchained Guides

Ordinals are akin to Bitcoin NFTs. In this guide, we'll show you how to inscribe one to the Bitcoin blockchain.

Daily Bits…✍️✍️✍️

  • Guo Wengui, an exiled Chinese businessman, was arrested in New York for allegedly defrauding investors of $1.4 billion through multiple fraudulent schemes, with his luxury penthouse catching fire shortly after, prompting an FBI investigation.

  • SEC Chair Gary Gensler hinted that staking protocol tokens could be deemed securities under U.S. law, as investors anticipate returns from these tokens and engage with small groups of entrepreneurs and developers.

  • The SEC proposed new rules to enhance cybersecurity, privacy, and tech infrastructure requirements, potentially impacting cryptocurrencies, with unanimous support for customer information protection and split votes on cybersecurity risk and tech infrastructure regulations.

  • Europol revealed that U.S. and European authorities targeted ChipMixer, seizing assets, dismantling its infrastructure, and accusing the crypto tumbler of allegedly facilitating the laundering of $3.8 billion in crypto connected to various illegal activities.

  • The Federal Home Loan Bank of San Francisco denied forcing Silvergate Bank to repay advances which had been rumored to be the reason behind the bank’s shutdown, clarifying that Silvergate chose to do so based on its own assessment.

  • Uniswap announced its expansion to BNB Chain, following a governance proposal that passed with over 55 million UNI token holders' support.

  • U.S. Congress is exploring bipartisan support for crypto oversight legislation, with Sen. Thom Tillis stating that various ideas are under review to find common ground between political parties.

  • Starting from the 2024-25 tax year, the UK government will require taxpayers to separately report crypto profits on their Self Assessment tax return forms.

  • A year after raising $5 million, Solana-based NFT marketplace Formfunction is shutting down.

Today in Crypto Adoption...

  • Fidelity Digital Assets opened Fidelity Crypto to millions of retail users, allowing commission-free bitcoin and ether trading, with a maximum 1% spread, positioning itself ahead of most U.S. peers in offering crypto to retail clients.

The $$$ Corner…

  • Ark Invest amassed over $16 million for a new crypto fund, divided between a U.S. and Cayman Islands-based version, featuring private and limited-access investments.

What Do You Meme?

📈 Your Market Update 📉

  • BTC is down .11%, trading at $24,775

  • ETH is down 2.1%, trading at $1,665

  • BTC dominance: 44.4%

  • Crypto market cap: $1.08 trillion

*All data as of today, 6 am ET

Recommended Reads

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