Issue #121

Regulation

1. Terraform Labs and Do Kwon found guilty of civil fraud (source)

-- Allegedly misled investors about the stability of their algorithmic stablecoin

-- Do Kwon still in Montenegro awaiting extradition to either S Korea or the US

2. FTX's bankruptcy estate plans to start repaying customers by the end of 2024

3. DEX dYdX moving part of its operations to Cayman Islands to protect against potential regulatory threat in the US

4. Bank of England/FCA target Fall '24 as start date for UK Digital Securities Sandbox

-- Approved applicants can provide tokenized securities services and operate a trading venue under a single legal entity

-- The sandbox has an anticipated lifetime of 5 years; goal is to establish permanent regulations for digital asset trading and settlement

5. GSR Markets obtains a major payment institution (MPI) license in Singapore, allowing it to offer spot OTC and market-making services

6. Coinbase becomes the 1st international exchange to be registered in Canada

Infrastructure

1. Solana runs into congestion issues

-- Here is a great explanation on why

2. Celestia makes its data availability solution compatible with Arbitrum Orbit Chains

3. Chinese government launches public blockchain platform in collaboration with Conflux Network

-- Hope is to further cross-border cooperation

Finance

1. BlackRock adds Citi, Goldman Sachs, UBS, and Citadel as authorized participants for its Bitcoin ETF, joining JP Morgan and Jane Street

2. Thailand's largest crypto exchange Bitkub Capital Group gearing up for an IPO in 2025

3. Crypto(.com) expanding to S Korea via acquisition of local exchange OK-BIT

4. Crypto VC Paradigm in discussions to raise $750-800M for a new fund

5. GoldenTree Asset Management exits crypto space

-- Sold its digital asset unit, GoldenChain, to Republic

-- Joe Naggar set to lead the new entity as CEO and CIO

-- GoldenTree exiting crypto due to regulatory and reputational concerns

6. Galaxy Digital to launch $100M fund to invest in early stage crypto startups

7. Alliance aiming to raise a $100M Fund III by July

-- Brevan Howard and Galaxy Digital have each committed $10M

8. a16z investing in web3 games via SPEEDRUN

-- A 12-week accelerator program that provides $750k

-- Applications open until May 19

Consumer

1. Telegram enables Toncoin payments for in-platform ad purchases

-- 50% of revenue goes to channel owners

2. Web3-native Minecraft alternative Hytopia enters closed beta

3. Ethena becomes 5th largest stablecoin by market cap

-- Ethena's USDe uses unique mechanisms such as derivative hedging to maintain its peg to USD while generating yield for holders through strategies like staking ETH

4. Binance will stop supporting Bitcoin Ordinals on its marketplace after April 10

-- Users are advised to withdraw their Ordinals by May 18

5. PayPal's Xoom service now allows US users to fund international money transfers using its stablecoin PYUSD

6. Ripple plans to launch its own stablecoin

Security

1. Bitcoin Lightning exchange FixedFloat possibly exploited

-- Security firm CertiK reported suspicious transactions totaling over $3M from FixedFloat to Ethereum and Tron wallets

Research

1. Breaking confidential VMs with malicious interrupts (source)

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