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💬😯 Will You Be Moving From X to Farcaster?
In today’s edition: 👁 MicroStrategy introduces Bitcoin-based ID solution, 📈 Aave Labs proposes V4 upgrade, 💼 Wall Street firm expands into digital assets, 🐢 Ethena’s USDe growth slows, 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.
What’s Poppin’?
by Sam Sriram, Sage Young, Kari McMahon, Juan Aranovich, and Michael Bodley
As “casters” descend on Venice Beach for FarCon, Unchained looks at how discussions on Farcaster are kinder and gentler than the often rough-and-tumble dynamic on X (Twitter). Here’s what to know and who to follow.
Aimed at enterprises, MicroStrategy Orange would use inscriptions in witness data to store and manage decentralized IDs.
The proposed new liquidity layer would allow the Aave DAO to onboard new borrow modules and offboard old ones without the need to migrate liquidity.
The closely-followed multi-manager firm Schonfeld has expanded its longtime traditional finance strategies into digital assets.
The rapid growth in Ethena’s USDe market cap has stalled amid broader market turmoil, but founder Guy Young remains positive.
The development of Build on Bitcoin (BOB), which launched its mainnet on Wednesday, is part of a cultural shift towards experimentation within the Bitcoin ecosystem.
Daily Bits…✍️✍️✍️
📈 Tether reported a record quarterly profit of $4.52 billion, in its first quarter attestation report, primarily from its US Treasury holdings.
🌐 LayerZero Labs completed an initial snapshot for a potential user airdrop, determining eligibility based on transactions up to the end of May 1.
🏦 The Federal Reserve held interest rates steady following their latest policy meeting, continuing their pause due to persistent inflation and a robust labor market.
🔍 Block, founded by Jack Dorsey, is under federal scrutiny for potential compliance failures related to processing crypto transactions linked to sanctioned entities.
📜 US lawmakers introduced a bill aimed at simplifying the taxation of staking rewards, proposing taxation only upon sale to prevent double taxation and encourage innovation within the US.
🚨 Idin Dalpour was charged with wire fraud for allegedly running a $43 million Ponzi scheme involving fake investments in hospitality and crypto trading.
📉 DeFi lender Pike Finance suffered losses totaling $1.9 million from two hacks within four days, revealing vulnerabilities in their protocol.
The $$$ Corner…
🔗 Real-world asset tokenization firm Securitize raised $47 million in a funding round led by BlackRock, signaling a strong interest in the tokenization of real-world assets.
🗳️ Agora, a cross-chain governance platform, secured $5 million in seed funding led by Haun Ventures, aimed at enhancing decentralized community governance tools.
🍷 Baxus, a blockchain platform for trading wine and spirits, closed $5 million in a seed round led by Multicoin Capital, with participation from Solana Ventures, FJ Labs, and Narwhal Ventures.
What Do You Meme?
📈 Your Market Update 📉
BTC is up 0.1%, trading at $57,608
ETH is up 1.9%, trading at $2,939
BTC dominance: 49.95%
Crypto market cap: $2.28T
*All data as of today, 06:41 am ET. Source: CoinGecko
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