October 25, 2022 / Unchained Daily / Laura Shin
Coinbase Prime, the institutional arm of crypto exchange Coinbase, will custody $1.6 billion worth of USDC for MakerDAO. However, not everyone agrees with this decision.
Reddit NFTs have onboarded millions of new crypto users – a vast majority of which appear to be unaware of their participation in the market.
by Samyuktha Sriram
Polygon-based DEX QuickSwap is closing its lending market after a $220,000 flash loan exploit on Market XYZ.
by Samyuktha Sriram
NEAR-native USN, a once partially algorithmic stablecoin, is winding down after it faced under-collateralization risks over the last few months.
by Samyuktha Sriram
Nearly 22 million AXS tokens will be released in a token unlock that will distribute 8% of Axie Infinity’s vested token supply.
In Other News… ✍️✍️✍️
- Binance is “narrowing down” the identity of the hacker who stole $570 million worth of BNB tokens from a cross-chain bridge.
- Community members of MakerDAO voted to support the founder’s ‘endgame’ plan, overruling opposition from a16z.
- Bitcoin mining difficulty keeps increasing as it hits a new all-time high.
- Commodity Futures Trading Commission Chair Rostin Behnam said that ETH is a commodity, disagreeing with SEC Chair Gary Gensler.
- Popular trading app Robinhood listed the tokens of layer 1 blockchain Tezos and DeFi lending protocol Aave.
- DeFi protocol Aave launched a Lido Staked Ethereum earn strategy through Oasis.app, the frontend for borrowing DAI.
- The judge overseeing the bankruptcy case of crypto lender Celsius appointed a consumer privacy ombudsman after the company revealed customer information earlier this month and also approved Celsius’ bidding procedure plans.
- Securities and Exchange Commission Chair Gary Gensler claimed there is centralization in the crypto market.
- South Korean authorities are investigating the role of stablecoins in money laundering.
Today in Crypto Adoption…
- Digital assets security platform Fireblocks launched a tool to facilitate the integration of businesses with crypto payments.
The $$$ Corner
- Cryptocurrency exchange Bybit invested $3.8 million in T-Scientific, the third-largest shareholder in South Korean crypto exchange Bithumb.
- Web3 publishing platform Paragraph raised $1.7 million in a round led by Lemniscap.
What Do You Meme?
- Thor Hartvigsen, blockchain and DeFi researcher, on GNS
- Alliance DAO on the DCCPA bill
- Ashu Pareek, research analyst at Messari, on Yearn tokenomics
On The Pod…
Eric Wall, crypto blogger and investor, and Udi Wertheimer, a recovering Bitcoin maxi, discuss everything about Bitcoin Maximalism, whether BTC can survive, and whether Ethereum constitutes a threat to Bitcoin. Show highlights:
- how Eric and Udi got involved with Bitcoin
- what Bitcoin was like in the first days
- how Bitcoin maxis appear to have a script to engage in discussions
- the philosophy behind Bitcoin maximalism
- why Eric believes Bitcoin maximalism is like a “weird cult”
- how Eric thinks that the BTC community has an unspoken rule forbidding criticisms
- whether Bitcoin has lost intellectual power
- why people have recently been turning away from Bitcoin maximalism
- why the poor Bitcoin culture doesn’t mean it’s the end for Bitcoin, according to Eric
- the perception of the Lightning network and how people are not interested in faster blockchains
- whether Bitcoin should increase the use cases of the blockchain, like DeFi, NFTs, and stablecoins
- El Salvador’s adoption of BTC and whether it had an impact
- what happens to internet subcultures and how the behavior of Bitcoiners could be predicted
- whether Ethereum is a threat to Bitcoin
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