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1. The SEC issues a Wells Notice to Robinhood Crypto
-- Robinhood recently Reported strong Q1 earnings with a 40% revenue increase driven by a surge in crypto trading
2. House votes to overturn SEC bulletin on crypto custody
-- SEC bulletin: require custodians to record customer crypto holdings as liabilities
-- President Biden plans to veto the House's resolution if it reaches him, citing concerns about financial instability and market uncertainty
3. Canadian regulators fine Binance $4.4M for not registering as a foreign money services business and failing to report large virtual currency transactions
4. Advocacy group Stand With Crypto establishes a PAC to raise funds from its members to back congressional candidates supportive of crypto
-- Members are limited to $5,000 contributions
5. Australian regulators tell crypto exchanges to hand over personal and transaction details of 1.2M users
-- This move aims to ensure compliance with capital gains tax obligations on crypto-related activities
6. Binance and KuCoin become the first offshore crypto entities to be registered by India's AML unit
-- Previously banned for operating illegally but made amends with regulators by paying fines
1. Ethereum's Dencun upgrade shifts ETH from deflationary to inflationary
-- Dencun upgrade on Ethereum has significantly reduced transaction fees, leading to a decrease in the amount of ETH being burned and causing the cryptocurrency to transition from a deflationary to an inflationary asset, reversing a key feature of the 2022 Merge
2. LayerZero Labs employees barred from claiming project's upcoming airdrop
-- Calling it a fireable offense
-- By doing so, the protocol is aiming to maintain fairness in distribution
3. Hong Kong Monetary Authority establishes "Project Ensemble Architecture Community"
-- The working group aims to facilitate seamless interbank settlement of tokenized deposits through wCBDC
-- Participants include HKMA, Securities and Futures Commission, BIS Innovation Hub, CBDC Expert Group, and private sector members like HSBC and Microsoft Hong Kong
4. Optimism’s Superchain now supports Layer 3 chains via OP Stack
-- Features include custom gas tokens and Plasma Mode (source)
5. Virtual Protocol introduces an audio-to-animation (A2A) model on Bittensor
6. SVM-compatible Ethereum L2 Eclipse CEO Neel Somani temporary reduces role amid sexual harassment allegations
-- Neel denying misconduct (source)
-- Sparked outcry by investors (Dragonfly, Tangent, among others)
7. Injective is launching inEVM, a L3 network powered by Arbitrum's tech
-- Most likely a play to boost the project's underperforming price action
8. Celo community votes to migrate to new L2 using Optimism's OP Stack technology
-- Background: a bunch of L2 tech providers (e.g. Polygon, Arbitrum, etc.) were competing to win Celo's business but Optimism came out on top
9. Polygon launches Miden ZK-rollup testnet
-- Miden is a zk-rollup with parallel transaction execution and client-side proving
-- Optimized for STARK-proofs and not for EVM-equivalence
1. FTX proposes generous repayment plan for creditors
-- Plans to repay 98% of creditors at least 118% of allowed claims
-- The proposed repayment, estimated between $14.5B - $16.3B, is subject to approval by a Delaware Bankruptcy Court and would occur within 60 days of the plan's effective date
2. VanEck releases index to track the largest meme coins
-- Includes tokens like Dogecoin, Shiba Inu, Pepe, Dogwifhat, and Floki Inu
3. Fireblocks unveils New York-regulated trust company
-- Pending regulatory approval, Fireblocks Trust Company plans to provide cold storage custody to US clients
4. Major American banks like JP Morgan and Wells Fargo report holding shares of spot Bitcoin ETFs
-- Worth noting that their exposure to Bitcoin is next to nothing with respect to their AUM
1. Revolut introduces Revolut X, a new crypto trading platform for UK users
2. Survey by DCG: over 20% of voters in swing states consider crypto a key issue in US elections
-- Trump will be the pro-crypto candidate in this election
3. SBI Holdings and Chiliz to set up joint venture in Japan for sports fan tokens
-- Plan to offer local fans access to tokens from popular football clubs like Manchester City and AC Milan
4. Exiled activist Mark Feygin launches a referendum on Russia2024 app to challenge Putin's presidency
-- Using blockchain and zero-knowledge cryptography, the app enables citizens to protest and vote anonymously
-- Pussy Riot's Nadya Tolokonnikova supports the initiative
-- The app was initially removed from the Apple store but is expected to be back online soon
5. Erik Voorhees launches AI platform Venice
-- Venice aims to build privacy-preserving and censorship-resistant alternatives to popular AI apps like ChatGPT (source)
6. Visa: 90% of stablecoin transaction volumes are not from genuine users
-- Only $149B out of $2.2T in April attributed to "organic payments activity"
7. MetaMask rolls out 'smart transactions' to combat Ethereum front-running
-- Allows users to submit transactions to a virtual mempool before they hit the blockchain
8. Jack Dorsey steps down from the board of decentralized social media platform Bluesky
-- Back to championing X/Twitter
9. NFT trading cards featuring crypto influencers on Fantasy(.top) generated $9.3M in fees
1. Zellic: bugs in Gains Network fork let traders profit 900% on every trade, regardless of token price
-- The vulnerabilities were reported to Gains forks like Gambit Trade and Holdstation Exchange to prevent potential exploitation, but other forks may still be at risk
-- The bugs, one in a previous Gains version and another in the fork, have since been patched to safeguard users' funds
1. A Monero-based covert transmission approach (source)
2. A tool to identify wallet vulnerabilities based on static and dynamic analysis (source)
-- Identified 116 vulnerabilities across 70 wallets
-- Have received confirmations of 10 vulnerabilities from 8 wallet developers and 12 wallet developers have silently fixed 16 vulnerabilities after the researchers' disclosure
3. Using MPC to query iris code uniqueness in a privacy-preserving manner without compromising on scalability (source)
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