Issue #113

Regulation

1. Montenegro Court of Appeals overturns the extradition of Do Kwon to the US

-- Citing issues in the process and lack of clear reasoning in the High Court's decision

-- New ruling sends Do Kwon to S Korea

-- US plans to appeal the new ruling

2. Bitstamp receives in-principle approval to operate as a Major Payment Institution in Singapore

-- Makes Bitstamp the first EU-based crypto trading platform to obtain this license

3. SEC files cease and desist order against crypto exchange ShapeShift

-- Claiming it operated as un unregistered securities dealer, resulting in a $275k civil penalty settlement

4. DCG and Barry Silbert file motion to dismiss lawsuits by NY Attorney General

-- Fighting allegations of defrauding investors out of $3B after the collapse of Three Arrows Capital and FTX

5. Spain bans Worldcoin for 3 months due to GDPR violations

-- Complaints about consent withdrawal and data collection from minors

-- As a reminder, the project involves iris scanning for crypto

6. Wyoming passes a new legal framework for DAOs

-- Allows DAOs to establish themselves as unincorporated nonprofit associations

-- Allows DAOs to enter contracts, open bank accounts, and pay taxes

-- a16z plans to guide DAOs to adopt this status

7. BRICS plan a blockchain-based payment system to reduce reliance on US Dollar

8. India now hosts 8M government docs across 5 blockchains

-- Leverage blockchain for verification of property ownership, birth/death certificates, and supply chain management; aiming to tackle document forgery issues and enhance service delivery

9. Philippines begins blocking of unlicensed crypto exchanges

Infrastructure

1. Avalanche releases Durango upgrade

-- Notably introduced Teleporter, a cross-subnet messaging protocol built on Avalanche Warp Messaging

2. Frax stablecoin launches Fraxtal, a L2 optimistic rollup

3. Cross-chain protocol Wormhole airdropping 617M tokens to users of ecosystem applications and community members

-- Constitutes 6% of the total token supply

4. Solana client Jito Labs disables mempool feature after increase in MEV attacks

-- A Solana-based MEV bot made $1.8M in seconds by back-running a memecoin trader, prompting action by Jito

Finance

1. BlackRock files to include Bitcoin exposure in Strategic Income Opportunities Fund and Global Allocation Fund

2. TradFi exchange Deutsche Börse launches crypto trading platform for institutions

-- Crypto Finance providing settlement and custody services

3. Figment Europe and Apex Group set to launch Ethereum and Solana staking ETPs on the SIX Swiss Exchange

-- Aim is to provide institutions with easy access to staking rewards

-- Management fee of 1.5%

4. MIT and Harvard alumni launch startup accelerator to support web3 founders

-- Called the MIT x Harvard Blockchain Accelerator

-- Offers mentorship without taking equity

5. US-listed spot Bitcoin ETFs now hold ~4% of the total BTC supply

6. Stablecoin MakerDAO attempting to stabilize DAI reserves

-- Raising the DAI savings rate to 15% and increasing stability fees, aiming to prevent a liquidity crunch

7. Pantera fundraising for Pantera Solana Fund to purchase discounted Solana tokens

-- Helping FTX liquidate its holdings by buying up to $250M worth of SOL tokens at a 39% discount

-- Investors must commit to a 4-year vesting period for this opportunity

8. Web3 app store Magic Square unveils $66M grant program

Consumer

1. Coinbase faces $0 balance glitch again

-- Assured users that their funds are safe

2. Revolut and MetaMask partner to launch Revolut Ramp

-- Allowing users to fund their MetaMask wallets directly from their Revolut accounts using fiat or cards

Security

1. WOOFi DEX experiences $8.75M exploit

-- sPMM algorithm was manipulated through flash loans

-- A 10% white hat bounty offered to the attacker for the return of stolen funds

2. Bitcoin bridge OridZK suffers $1.4M rug pull

-- Developers allegedly conducted an exit scam

3. FBI: crypto investment scams in the US surged to $3.94B in 2023, up 53% from the previous year

Research

1. An analysis of intent-based markets (source)

-- Background: in intent markets, solvers compete to satisfy user orders, which may include complicated user-specified conditions (aka intents)

-- Conclusion: the congestive, costly effort of fulfilling intents leads to a limited oligopoly of solvers

2. Security implications for upgradeable smart contracts (source)

3. Making Merkle and Verkle Trees more efficient (source)

-- Use of adaptive restructuring (instead of static tree structures) to reduce the average path length/computational overhead required for data verification

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.