November 7, 2022 / Unchained Daily / Laura Shin
Binance’s CEO Changpeng Zhao announced he would sell the company’s holdings of FTT, the native token of crypto exchange FTX.
Exchange reserves monitored by CryptoQuant show that FTX’s stablecoin reserves have declined 93% over the last two weeks.
Huobi claims that pNetwork is entirely to blame for the GALA token incident that resulted in the massive losses for the exchange’s users.
Google Cloud announced that it is running a block-producing Solana validator and intends to bring its Blockchain Node Engine to the network next year.
by Samyuktha Sriram
Litecoin’s mining difficulty surged to an all-time high over the weekend.
In Other News… ✍️✍️✍️
- The U.S. Securities and Exchange Commission charged the operators of Trade Coin Club for an alleged $295 million crypto Ponzi scheme.
- Vitalik Buterin revealed a new phase in the Ethereum roadmap.
- OpenSea launched a feature to help NFT creators earn royalties from their artworks.
- The Web3 Foundation, the entity behind the development of Polkadot, declared that DOT is not a security. The SEC, which regulates securities in the U.S., is yet to weigh in.
- Puerto Rican police found no evidence of foul play in the death of Maker cofounder Nikolai Mushegian. Days before his death, Mushegian had tweeted that the CIA and Mossad will “torture me to death.”
- UK bank Santander will block transfers to crypto exchanges next year to prevent customers from fraud. It hasn’t said when its changes will take effect, but will limit transfers to £1,000 per transaction ($1,144) on November 15.
Today in Crypto Adoption…
- Circle’s EuroCoin will launch natively on Solana in the first half of 2023.
The $$$ Corner…
- Crypto trading platform Amber Group reduced its valuation from $10 billion to $3 billion during its latest fundraise, for which it aims to raise $100 million.
- Arca, a crypto hedge fund that was exposed to failed stablecoin project Terra, has shut down its $20 million Digital Yield Fund.
What Do You Meme?
- The Block’s Catarina Moura on crypto mining
- Alex, researcher at Friktion Labs, on Uniswap fees
- Larry Florio, general counsel at Delphia, on regulating front ends
On The Pod…
Welcome to The Chopping Block! Crypto insiders Haseeb Qureshi, Robert Leshner, Tom Schmidt, and Tarun Chitra chop it up about the latest news in the digital asset industry. Show topics:
- Elon Musk’s acquisition of Twitter – and its effect on DOGE
- the irony that people working in centralized companies want to decentralize Twitter
- whether Twitter is going to become like Facebook
- why Twitter has been the most pro-crypto among big tech companies
- why Tarun thinks Binance Pay is an impressive product
- whether it is possible to run a decentralized social media for billions of users
- the debate between Sam Bankman-Fried and Erik Voorhees about crypto regulation
- whether crypto exchange CEOs are true believers in the philosophy of crypto
- why Haseeb believes Sam Bankman-Fried is a very honest person
- how Reddit used a simple strategy to gain massive adoption
- whether it is necessary to rebrand NFTs
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: https://amzn.to/3CvfrbE