The Daily Spin. *Wet Wednesday Edition. *April 18th saw the absolute grilling that SEC Chair Gary Gensler received yesterday at the hands of the House Financial Services Committee – noting in the opening remarks that under Chair Gensler’s lead, 53 new regulations have been introduced haphazardly with “half-baked” cost-benefit analyses supporting their justification, and that “regulation by enforcement” is not conducive to the mandate of the SEC and the Congressional oversight thereof. While the full session is a whopping four-and-a-half hour long roasting of bipartisan politics and ineffective leadership, the first 30 mins will give a pretty good foreshadowing of what happens next…
In other news, Solana launches SAGA – the world’s first “fully Web3 mobile phone.” Apple users are exposed to iOS and macOS vulnerabilities, and there is a current wallet draining of pre-2015 Ethereum addresses that is going on and still being investigated. EToro partners with Twitter to offer direct on-ramping to Twitter users. DCG’s Merit Circle launches gaming subnet “Beam.”
Banks are under continued pressure as the front-end yield curve surges past 5%. Polygon explains to the EU why they must know the difference between “permissioned” and “permissionless.” Another deep dive into the impacts of the ETH Shapella upgrade, and BanklessHQ interviews a16z’s CTO about the “State of Crypto Report 2023” to understand some of the logic and motivations behind this year’s landmark market analysis… here is our round-up of curated news and opinions (surely biased) from the world of Blockchain, keeping you informed into the market news with the most trending, in-the-know, and controversial topics. In the name of transparent, dissemination of information to keep you curious, inspired, and clinically sane…
Ongoings at Coinweb
Coinweb Completes Integration of 4 New Blockchains Delivering Along its Roadmap for Cross-Chain Interoperability
https://finance.yahoo.com/news/coinweb-completes-integration-4-blockchains-154031366.html?guccounter=1
Coinweb Prioritises Community Trust with Transparent Reserve Allocation
https://medium.com/@Coinweb.io/coinweb-prioritises-community-trust-with-transparent-reserve-allocation-ce14063b6fa9
CWEB Token Usage and Utility
https://medium.com/@Coinweb.io/cweb-token-usage-913307f8f441
Coinweb has Closed $2 Million Fundraising Round from SAVA Investment Management
https://www.benzinga.com/pressreleases/23/04/a31637718/coinweb-has-closed-2-million-fundraising-round-from-sava-investment-management
The Coinweb Monthly Spin - Sixth Edition: Coinweb Project's Monthly Round-Up and Curated News & Events From The Bleeding Edge of All Things Web3
https://coinweb.beehiiv.com/p/coinweb-monthly-spin-sixth-edition?_gl=1*1lv6vvu*_ga*NjEwNTkwMjc0LjE2NzU3NTc5NjQ.*_ga_E6Y4WLQ2EC*MTY4MDQ5NDg4Mi4yMy4xLjE2ODA0OTU1ODcuMzguMC4w
SoftServe, Ultra, Coinweb, ConsenSys, DSCVR and XDC Foundation on Blockchain Misconceptions
https://thefintechtimes.com/softserve-ultra-coinweb-consensys-dscvr-and-xdc-foundation-on-blockchain-misconceptions/
Coinweb’s Layer 2 marks 4 million transactions milestone
https://twitter.com/CoinwebOfficial/status/1638125472814092291?s=20
Coinweb Partners With Ceffu for Institutional Crypto Custody
https://www.ceffu.com/blog/coinweb-partners-with-ceffu-for-institutional-crypto-custody?utm_source=twitter&utm_medium=organic_social&utm_campaign=cweb0321
Coinweb’s Fireside Chat Series, digitALL: Innovation and Technology for Gender Equality
https://twitter.com/CoinwebOfficial/status/1636676933361745920?s=20“
A Thread on Refereed Delegation of Computation” by Kawin on Twitter
https://twitter.com/CoinwebOfficial/status/1635952081302589441?s=20
Coinweb to bring cross-chain tokenisation to Layer 2
https://cryptoslate.com/coinweb-to-bring-cross-chain-tokenisation-to-layer-2/“
A Thread on L2 Scalability, Network Efficiency and Throughput/TPS” by Anton on Twitter
https://twitter.com/CoinwebOfficial/status/1633424957693915137
A Leading Layer 2 Platform Looking To Tackle Crypto's Interoperability Issue
https://www.benzinga.com/markets/cryptocurrency/23/02/31067514/a-leading-layer-2-platform-looking-to-tackle-cryptos-interoperability-issue“
The Reality of Large-scale Enterprises Adopting Blockchain Technology” an article by Toby Gilbert for CityAM Magazine
https://www.cityam.com/the-reality-of-large-scale-enterprises-adopting-blockchain-technology/
Coinweb Labs is proud to unveil LinkMint 📷📷, our groundbreaking Cross-Chain Tokenisation Platform and DeconX, our integrated native DEX! Live Walkthrough Demonstration for the Community by Toby, Knut, and Alexander.
https://www.youtube.com/watch?v=CSKA3cAB15U“
Toby’s full presentation at Token2049-London
https://youtu.be/pdtKx3vAs9c
On the Radar
Consensus 2023, Apr 26-28 (Austin, Texas)
Web3 Weekend, May 8-13 (Jakarta)
Non Fungible Conference, Jun 7-9 (Lisbon)
AIBC Asia, Jul 19-22 (Manila)
TOKEN2049, Sep 13-14 (Singapore)
Blockchain Events curated by CryptoNomad
https://docs.google.com/spreadsheets/d/1KtyFTb_W282bQ1xoVA5rlTwTDz3QfhswWIVpXhpbQIc/edit
On the Block(chain)
Staked Ethereum deposits exceed ETH withdrawals in latest 24-hour period
https://cryptoslate.com/insights/staked-ethereum-deposits-exceed-eth-withdrawals-in-latest-24-hour-period/
Solana Launches SAGA, world’s first Web3 mobile phone
https://twitter.com/solanamobile/status/1646580454768910344?s=20
Bitcoin whales enter deep accumulation for the first time since January
https://cryptoslate.com/insights/bitcoin-whales-enter-deep-accumulation-for-the-first-time-since-january/
Messari: State of Cardano Report
https://messari.io/report/state-of-cardano-q1-2023?__s=s53o07sx3i8m6dc09x2o
Messari: State of Boba Report
https://messari.io/report/state-of-boba-network-q1-2023
Messari: State of NEAR Report
https://messari.io/report/state-of-near-q1-2023
Developers Block Potential ‘Eight-Figure’ Exploit Involving Cosmos-Based Ethermint
https://www.coindesk.com/tech/2023/04/14/developers-block-potential-eight-figure-exploit-involving-cosmos-based-ethermint/
Zipmex's rescue investor now wants to pay only 10 to 20 cents on the dollar
https://www.theblock.co/post/226378/zipmex-rescue-investor-discount
Apple crypto users potentially exposed to iOS, macOS vulnerabilities
https://cryptoslate.com/apple-crypto-users-potentially-exposed-to-ios-macos-vulnerabilities/
Crypto veterans targeted in mysterious MetaMask heists – 5k ETH stolen
https://cryptoslate.com/crypto-veterans-targeted-in-mysterious-metamask-heists-5k-eth-stolen/
SafeMoon hacker agrees to return 80% of stolen funds
https://cryptoslate.com/safemoon-hacker-agrees-to-return-80-of-stolen-funds/
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Competitive Landscape**
EToro to Offer Crypto Trading Directly to Twitter Users
https://www.coindesk.com/business/2023/04/13/etoro-to-offer-crypto-trading-directly-to-twitter-users/
Crypto Exchange Bybit Opens Global Headquarters in Dubai
https://www.coindesk.com/policy/2023/04/18/crypto-exchange-bybit-opens-global-hq-in-dubai/
Intel Bitcoin mining chips discontinued despite chip efficiency, $63M revenue boost in 2022
https://cryptoslate.com/intel-bitcoin-mining-chips-discontinued-despite-chip-efficiency-63m-revenue-boost-in-2022/
Liquid staking protocols TVL could ‘flip’ DEXs TVL soon
https://cryptoslate.com/liquid-staking-protocols-tvl-could-flip-dexs-tvl-soon/
DCG portfolio company Merit Circle set to launch gaming subnet – Beam
https://cryptoslate.com/dcg-portfolio-company-merit-circle-set-to-launch-gaming-subnet-beam/
A16z hints at blockchain product by imitating Coinbase’s ‘blue dot’ campaign
https://cryptoslate.com/a16z-hints-at-blockchain-product-by-imitating-coinbases-blue-dot-campaign/
SwissBorg Raises over €20M with Revolutionary Community-Centric Fundraising
https://cryptoslate.com/press-releases/swissborg-raises-over-e20m-with-revolutionary-community-centric-fundraising/
FTX relaunch could be funded by Tribe Capital
https://cryptoslate.com/ftx-relaunch-could-be-funded-by-tribe-capital/
Dfinity Foundation says ICP consumes less energy than Cardano, launches ‘proof of green’ initiative
https://cryptoslate.com/dfinity-foundation-says-icp-consumes-less-energy-than-cardano-launches-proof-of-green-initiative/
US. Coordinated Regulation Failures
SEC Chair Gensler Testifies in Front of House Financial Services Committee (4hrs 30mins)
https://youtu.be/5JXeSEVxaR4
House Committee slams SEC Chair Gary Gensler over inconsistent approach to crypto regulation
https://cryptoslate.com/house-committee-slams-sec-chair-gary-gensler-over-inconsistent-approach-to-crypto-regulation/
SEC Labels Algorand and Five Other Tokens as Securities in Bittrex Lawsuit
https://decrypt.co/136990/sec-bittrex-lawsuit-algorand-five-tokens-securities
Draft U.S. Stablecoin Bill Shows Major Difference Between Stablecoins and CBDCs
https://www.coindesk.com/consensus-magazine/2023/04/17/us-stablecoin-bill-picks-winners-and-losers/
SEC reopens dark pools rule proposal that would regulate DeFi
https://www.dlnews.com/articles/regulation/sec-reopens-comment-period-reg-ats-defi-exchange-amendments/
SEC inclusion of DeFi in ‘exchange’ definition attracts pushback
https://www.ledgerinsights.com/sec-defi-exchange-definition/
Gary Gensler’s old pro-Algorand video ignites debate amid unregistered security claims
https://cryptoslate.com/gary-genslers-old-pro-algorand-video-ignites-debate-amid-unregistered-security-claims/
SEC’s Gary Gensler says he has never owned crypto
https://cryptoslate.com/secs-gary-gensler-says-he-has-never-owned-crypto/
Fed board member says CBDC risks outweigh benefits
https://cryptoslate.com/fed-board-member-says-cbdc-risks-outweigh-benefits/
**
**World
Permissioned vs Permissionless: Why Polygon Is Telling the EU to Know the Difference
https://blockworks.co/news/polygon-eu-permissionless-permissioned
IMF denies involvement in purported CBDC
https://cryptoslate.com/imf-denies-involvement-in-purported-cbdc/
Banks face further pressure as front end of the yield curve surges past 5%
https://cryptoslate.com/insights/banks-face-further-pressure-as-front-end-of-the-yield-curve-surges-past-5/
Microsoft building in-house AI chip “Athena”
https://cryptoslate.com/microsoft-building-in-house-ai-chip-athena/
Kraken gets regulatory approval to operate in Ireland
https://cryptoslate.com/kraken-gets-regulatory-approval-to-operate-in-ireland/
Coinbase CEO meets with UK Economic Secretary to discuss crypto innovation
[https://cryptoslate.com/coinbase-ceo-meets-with-uk-economic-secretary-to-discuss-crypto-innovation/
](https://cryptoslate.com/coinbase-ceo-meets-with-uk-economic-secretary-to-discuss-crypto-innovation/)
Thought Leadership
BanklessHQ: a16z Crypto’s CTO on State of Crypto 2023 Report (80mins)
https://www.youtube.com/live/01qi-FNpmR8?feature=share
Op-ed: Communities are not built around JPEGs
https://cryptoslate.com/op-ed-communities-are-not-built-around-jpegs/
Here’s why GPT-4 outperforms GPT3.5, LLMs in code debugging
https://cryptoslate.com/heres-why-gpt-4-outperforms-gpt3-5-llms-in-code-debugging/
Before and after Shanghai: A deep dive into the consequences of Ethereum’s latest upgrade
https://cryptoslate.com/market-reports/shanghai-upgrade-a-blip-or-a-turning-point-for-ethereum/
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