November 4, 2022 / Unchained Daily / Laura Shin
What’s Poppin’?
Coinbase Misses Analyst Estimates During Crypto Market Downturn
Coinbase misses earnings targets in Q3 earnings – but interest income triples.
GALA Drops 30% After Community Fears $1B Exploit But Network Says ‘Everything is Fine’
Multichain bridge protocol pNetwork drained the GALA liquidity pool on PancakeSwap to prevent a potential attack, but some users jumped to the conclusion that GALA had been exploited.
Do Kwon Renews Interest in Terra While Prosecutors Gather Fresh Evidence
by Samyuktha Sriram
Korean prosecutors have somewhat pinpointed Do Kwon’s whereabouts and say they have evidence of his price manipulation. Meanwhile, Do is still working on Terra.
Goldman Sachs Introduces Digital Assets Taxonomy for Institutional Investors
by Samyuktha Sriram
Goldman Sachs has teamed up with MSCI and CoinMetrics to develop a new resource for investors to understand the crypto industry.
Japan’s Digital Ministry Creates DAO to Explore Web3
by Samyuktha Sriram
The Digital Ministry of Japan has formed its own DAO to understand the risks and benefits of decentralized governance.
In Other News… ✍️✍️✍️
- Instagram influencer Jebara Igbara pleaded guilty for stealing $2.5 million worth of Bitcoin from his followers. He promised to buy crypto above market rates but never followed up with the payment.
- The European Union will defer a vote on the Markets in Crypto Assets framework until February next year. The new regulation requires exchanges to seek a license.
- In a unanimous vote, the community of lending protocol Aave approved a governance proposal to deploy on zkSync, the privacy-preserving Ethereum scaling network.
Today in Crypto Adoption…
- Fidelity Investments offers a Bitcoin trading product to retail investors.
- Investment bank UBS unveiled a bond that settles on the blockchain.
- Kraken’s NFT marketplace went live in a private beta. Those on a long waitlist were granted access.
The $$$ Corner…
- Digital asset platform Bakkt is set to acquire Apex Crypto for up to $200 million.
- Startup WalletConnect raised $12.5 million to bolster its decentralization efforts.
What Do You Meme?
Recommended Reads
- Nathan Schneider on governance
- StakingRewards on Ethereum vs. Juno
- Jeff John Roberts on Coinbase’s lackluster earnings
On The Pod…
Nick Hansen, cofounder and CEO of Luxor Technologies, talks about the Bitcoin mining industry, why some miners are struggling while others are succeeding, and the next steps for the industry. Show highlights:
- the current state of the Bitcoin mining industry
- why miners have the lowest margin environment ever
- why there are so many mining rigs sitting latent
- how to calculate the profitability of mining cryptocurrency
- why miners are not moving to other countries for lower energy prices
- what the impact of a Core Scientific bankruptcy would be
- whether finance pools to aid struggling miners are helpful
- why some miners are succeeding in this environment
- whether Bitcoin miners can adopt renewable resources and help with the transition to green energy
- how the mining industry is going to change in the following years
Book Update
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
