July 28, 2021 / Unchained Daily / Laura Shin
Daily Bits ✍️✍️✍️
Binance reduced the withdrawal limit for non-KYC customers from 2 BTC to .06 BTC per day.
Code from a Robinhood test app would override certain trades to protect investors from volatility.
FTX Foundation Group has launched the FTX Climate Program, which has already purchased $1M in carbon offsets.
Stronghold Mining, a bitcoin mining firm based in the US, is looking to raise $100M in an IPO.
Over 3M unique addresses have interacted with DeFi protocols, marking 10X growth since July 27, 2020.
1inch, a DEX aggregator, plans to airdrop 10M tokens to DeFi users to refund high gas fees.
“Instead of leaving our financial system at the whims of giant banks, crypto puts the system at the whims of some shadowy, faceless group of super-coders and miners, which doesn’t sound better to me.” – Senator Elizabeth Warren
What Do You Meme?
Crypto fundraising is poppin’.
Ten projects combined to raise over $430M, as The Block’s Frank Chaparro pointed out on Twitter yesterday:
Most of yesterday’s funding went toward Fireblocks, a digital asset custody provider, which raised $310M a Series D that values the company at $2B, adding another company to the list of crypto unicorns.
A few other firms brought in substantial funding as well:
- Eco closed a $60M round led by Activant Capital and L Catterton to accelerate its “smart money” strategy.
- Valora, a mobile wallet for the Celo network, raised $20M in a Series A led by a16z.
- Lemon Cash, an exchange based in Argentina, announced a $16.3M Series A to expand to Chile, Colombia, Ecuador, Peru, and Uruguay.
- StormX, a crypto rewards app, secured $9M in funding with plans to launch a debit card later this year.
- Saber Labs, a Solana-based exchange, raised $7.7M, with participation from Chamath Palihapitiya’s Social Capital, among others.
The rest of the money was distributed evenly across a bunch of interesting protocols, companies, and platforms: Splinterlands ($3.6M), Hedgehog Markets ($3.5M), Lyra ($3.3M), and EthSign ($650,000).
- Electric Capital’s Gui Laliberte on Ethereum:
- The Atlantic’s Talmon Joseph Smith on America’s investing boom:
- CoinCorner released a report comparing Bitcoin’s energy usage to real-world things:
On The Pod…
ShapeShift recently announced an intent to decentralize — a move that would transition the one-time centralized exchange to a full-on DAO. Erik Voorhees, founder and CEO of ShapeShift, comes onto the show to talk about decentralizing the exchange, along with his thoughts on Bitcoin maximalism and crypto regulation. Show highlights:
- why ShapeShift is decentralizing the company
- how ShapeShift used to work
- what needs to happen for ShapeShift to decentralize
- why user experience should not change during the transition
- how the FOX token works
- what parts of a company cannot be decentralized yet
- how ShapeShift’s forthcoming foundation will function
- how ShapeShift decided upon the allocations for the FOX token airdrop
- why ShapeShift employee and shareholder FOX tokens are locked up for three years
- what Erik’s role will be going forward
- how ShapeShift plans to attract devs
- why Erik believes FOX is not a security
- how Erik wants the SEC to handle crypto
- why he believes THORChain is one of the most critical projects in crypto
- why he is opposed to Bitcoin maximalism
- Erik’s thoughts on BitMEX’s and Binance’s regulatory issues
- what he thinks about stablecoin regulation
- Why Erik believes ShapeShift and Uniswap are not competitors
My book, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze, is now available for pre-order now.
The book, which is all about Ethereum and the 2017 ICO mania, comes out Jan. 18. Pre-order it today!
You can purchase it here: http://bit.ly/cryptopians