Issue #109

Regulation

1. FTX creditors file class action lawsuit against Sullivan and Cromwell, FTX’ bankruptcy law firm

-- Claim that Sullivan and Cromwell was enabling fraudulent behavior and engaging in civil conspiracy

2. Japan approves proposal allowing local investment LPs to acquire/hold cryptocurrencies

3. Pro-crypto super PAC Fairshake raises $4.9M

-- Investors include a16z, Electric Capital, Winklevoss twins, and Blockchain Capital

-- Has raised over $85M to date

4. Hong Kong issues provisional guidance for tokenization and digital asset custody

-- Requires custodians to hold clients' assets in segregated accounts to protect against insolvency

5. Honduras bans supervised institutions from engaging with cryptocurrencies

-- Citing risks of fraud, money laundering, and terrorism financing

6. TradFi Hong Kong brokerages Tiger Brokers and Victory Securities obtain licenses to offer crypto trading

7. Montenegro makes decision to extradite Do Kwon to the US (as opposed to Korea), timeline uncertain

8. Former FTX exec Ryan Salame to be sentenced on May 1st

-- Accused of fraud and unlawful political contributions

-- US Attorney’s Office has proposed probation for Salame

9. US Dept of Energy faces pushback for data collection initiative against crypto miners

-- Texas Blockchain Council and Riot Platforms secure a temporary restraining order against Dept of Energy

Infrastructure

1. Optimism airdrops $41M to 23k addresses thanking web3 artists for their contributions

-- Eligible users created NFT art on Ethereum or Optimism’s Superchain

2. Fuel Labs unveils Rollups OS ahead of 3Q24 mainnet release (source)

3. StarkWare modifies token distribution plan after facing criticism

-- Reduced initial unlock amount for core contributors and investors from 13.4% to 0.64%

4. Avalanche faces block finalization stall for almost 2 hours

-- Developers identified and removed a gossip-related mempool bug

5. Vitalik Buterin highlights the benefits of Verkle trees for Ethereum (source)

-- Enable stateless validator clients, which can allow staking nodes to run with near-zero hard disk space and sync nearly instantly

6. Stellar Development Foundation rolls out smart contracts for Stellar following bug fix delays

7. Bitcoin miner Marathon Digital launches Slipstream to expedite complex Bitcoin transactions by leveraging its mining pool

-- Aims to streamline the confirmation process for large or non-standard transactions

Finance

1. Hack VC closes $150M for new VC fund investing in AI and web3 startups

2. Risk management protocol Gauntlet ends partnership with Aave after 4 years

-- Gauntlet cited difficulties working with the DAO governing Aave

3. Uniswap Foundation suggests governance upgrades

-- Reward UNI token holders for their active participation in governance decisions

-- Collect protocol fees and distribute these fees pro-rata to token holders who have staked and delegated their UNI votes

4. Mad Lads’ crypto exchange Backpack surpasses $1B in 24h trading volume days after its pre-season launch

5. RIA platform with $30B AUM Carson Group adds support for spot Bitcoin ETFs from BlackRock, Fidelity, Franklin Templeton, and Bitwise

6. Y Combinator adds stablecoin finance as a category in its request for startups (RFS) list

7. Aave expands to BNB Chain

8. PancakeSwap plans affiliate model to fuel expansion

-- Allows developers to fork its code and create versions of the platform on other blockchains

-- CAKE token holders will benefit from affiliate forks by receiving native DEX tokens and a portion of trading fee revenue

Consumer

1. Circle discontinues support for TRON blockchain as part of its risk management strategy

-- Users have until Feb 2025 to transfer their USDC to other blockchain networks or redeem them for fiat currency through Circle

2. Yuga Labs Co-Founder Greg Solano to take over as CEO

-- Prior CEO Daniel Alegre was only CEO of Yuga for 1 year and was President at Activision Blizzard for 3 years before Yuga

-- Leadership changed to address concerns over the Otherside metaverse project's progress

3. Social network Farcaster now supports Solana

4. Soccer club Paris Saint-Germain joins Chiliz Chain as network validator

-- Using the revenue generated via validation to buy back Paris Saint-Germain’s fan tokens on Chiliz

Security

1. Crypto exchange FixedFloat exploited for $26M

2. DeFi protocol Blueberry paused its lending services after discovering a mysterious exploit

-- Urging users to withdraw their funds immediately

Research

1. Confidential and certifiable fairness for neural networks (source)

-- A system that uses zero-knowledge proofs to publicly verify the fairness of a model, while maintaining confidentiality

-- Propose a fairness certification algorithm for fully-connected neural networks

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