November 2, 2022 / Unchained Daily / Laura Shin
What’s Poppin’?
Bitcoin Miner CleanSpark Spends Millions on Equipment as Others Struggle Amid Market Conditions
The Bitcoin mining industry is going through tough times as BTC’s price falters, but one mining outfit hopes to take advantage of the situation.
Lightning Network Issues Emergency Hot Fix after LND Nodes Fail to Sync
Lightning Labs issued an emergency fix after a pseudonymous developer triggered a bug that caused LND nodes to stop syncing.
MoneyGram Launches Crypto Services for U.S. Customers
by Samyuktha Sriram
MoneyGram users in the U.S. can now trade and hold Bitcoin, Ethereum and Litecoin through the platform’s mobile app.
Aptos Sees Its First Rugpull as NFT Project Drains 5K Tokens
by Samyuktha Sriram
An NFT project built on Aptos has been using a drainer wallet to steal funds from users by promising free mints of a Bored Ape style digital collectible.
Flashbots MEV-Boost Goes Live on Coinbase Cloud
by Samyuktha Sriram
Coinbase Cloud has added support for Flashbots’ MEV-Boost relay, allowing retail and institutional ETH stakers to earn additional rewards automatically.
In Other News… ✍️✍️✍️
- Grayscale Investments revealed the results of a survey showing that young Americans believe crypto is the future of finance.
- MicroStrategy missed third quarter estimates but the stock was up in after-market hours.
- Crypto exchange Coinbase asked for permission to file an amicus brief in support of Ripple’s case against the SEC.
- Mike Novogratz’s Galaxy Digital could lay off 15%-20% of its staff.
Today in Crypto Adoption…
- Solana’s move-to-earn project Stepn launched an NFT marketplace to enforce royalties and enable a monthly subscription.
- Ethereum’s layer 2 scaling solution Boba Network integrated with BNB Chain.
The $$$ Corner…
- CoinFund, a New York-based web3 investment firm, is looking to raise $250 million to invest in seed-stage startups.
- Orderly Network, a DeFi infrastructure protocol built on the Near blockchain, received a fresh capital injection from Nomura at a valuation of $200 million.
- Variant and FinTech Collective led a $4.2 million seed funding round for NiftyApes.
What Do You Meme?
Recommended Reads
- Will Comyns from Shima Capital on DeFi tokenomics
- Stephen D Palley, partner at Brown Rudnick, on DeFi legislation
- 0xStacker on why Bitcoin is not a store of value in its current state
On The Pod…
Sterling Crispin, artist and software developer and Holly Herndon, host of the Interdependence podcast, talk about the problems that creators face, some potential solutions, and the debate over creator royalties. Show highlights:
- how Holly and Sterling got into crypto
- how Holly used the Holly Plus Project to pay royalties
- how NFTs change the economic experience of being a creator
- how creators make money and why it is so difficult for most of them
- whether NFT royalties are necessary for artists
- why creators are the ones that should decide to charge royalties or not
- how the enforcement of royalties also occurs in the traditional art world
- whether NFT royalties only benefit big players vs. smaller creators
- what shifts could make paying royalties a norm, the way paying for music streaming became a norm over piracy
- other solutions to helping creators earn from their work besides NFT royalties
- whether NFT creators should use blocklists
- whether people objecting to blocklists can be hypocritical about decentralization
- whether creators can build their own marketplaces
- how a profit-sharing model among creators could work
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
