October 17, 2022 / Unchained Daily / Laura Shin
Magic Eden, the largest NFT marketplace on the Solana blockchain, announced it would give buyers the opportunity to determine how much royalties they want to pay to creators, spicing up the debate on NFT royalties.
by Samyuktha Sriram
The number of OFAC censorship compliant Ethereum blocks crossed 51% over the weekend in what some industry watchers are calling “a sad milestone” for the blockchain.
by Samyuktha Sriram
Crypto market maker Wintermute demonstrated its solvency following the $160 million hack after it repaid a $96 million debt obligation to TrueFi. This was DeFi’s largest ever uncollateralized loan and was repaid a day before the deadline.
Avraham Eisenberg owned up to being part of a team that orchestrated last week’s $100 million exploit of Mango Markets. Eisenberg has now returned $67 million to the Mango Markets DAO and maintains that he believes his actions were entirely legal.
In Other News… ✍️✍️✍️
- The hacker of the TempleDAO protocol moved the stolen funds via Tornado Cash, the crypto mixer sanctioned by the US Treasury.
- Troubled crypto lender Celsius has spent over $3 million in legal fees in its bankruptcy proceedings.
- Brian Armstrong, CEO of Coinbase, is planning to sell part of his company stake to fund research.
Today in Crypto Adoption…
- Popular crypto wallet MetaMask partnered with fintech firm Sardine to facilitate bank-to-crypto transactions.
- Société Générale, the third largest bank in France, was given approval to operate digital asset services.
The $$$ Corner…
- Investment app startup Stash raised $52.6 million via a debt offering.
What Do You Meme?
- Aave on GHO
- Justin Bons on social consensus
- Nassim Eddequiouaq and Riyaz Faizullabhoy on wallet security
On The Pod…
Peter Van Valkenburgh, director of research at Coin Center, comes to talk about the SEC probe into Yuga Labs, how to determine whether something is a security, and Coin Center’s lawsuit against the US Treasury over the sanctions on Tornado Cash. Show highlights:
- whether there’s an over-reliance on the Howey Test and how a token being non-fungible doesn’t mean it’s not a security
- what constitutes an investment contract and how it works in the Metaverse
- the consequences for NFT holders and issuers if the NFTs are considered securities
- why Coin Center is suing the US Treasury over the Tornado Cash sanctions
- Who the plaintiffs are
- whether this lawsuit differs from the one Coinbase is supporting
- how to solve the issue of bad actors like North Korea using tools such as Tornado Cash to launder money
- the remedy Coin Center is looking for in the lawsuit against the Treasury
- how long the lawsuit could take to be resolved
My book, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze, which is all about Ethereum and the 2017 ICO mania, is now available!
You can purchase it here: http://bit.ly/cryptopians