1. Biden vetoes congressional repeal of SEC's crypto accounting bulletin (SAB 121)
-- "This Republican-led resolution would inappropriately constrain the SEC's ability to set forth appropriate guardrails and address future issues," Biden said in a statement released by the White House
2. Terraform Labs and Co-Founder Do Kwon have reached a settlement in principle with the SEC regarding the collapse of the Terra USD stablecoin
-- The terms of the settlement are expected to be finalized by June 12, 2024
3. SEC Commissioner Hester Pierce suggests a cross-border sandbox collaboration between the US and UK
-- Will allow crypto firms to safely test tokenized securities issuance and trading under regulatory oversight for 2 years
-- The proposal builds on the UK's Digital Securities Sandbox initiative to create a conducive environment for crypto industry growth and development
4. Former FTX exec Ryan Salame sentenced to 7.5 years in prison
-- Ordered to pay over $11M in forfeiture and restitution for his involvement in unlawful political contributions and operating an unlicensed money-transmitting business
5. New York issues guidance for consumer complaints to crypto firms
-- The guidance includes policies for monitoring, reporting, and maintaining records of customer requests and complaints, emphasizing transparency and timeliness in resolving issues
-- Failure to comply may result in penalties
1. Ethereum developers plan to roll out Pectra upgrade in 1Q25 (source)
-- Includes: (i) Ethereum Virtual Machine Object Format, (ii) a new EIP allowing validators to stake up to 2,048 ETH, (iii) EIP-7702: a transaction type enabling account addresses to temporarily act as smart contract wallets
2. L2 zk-rollup Taiko launches to mainnet
-- Taiko boasts type-1 EVM equivalence
3. Cross-chain messaging protocol LayerZero adds support for Solana
4. Riot Platforms plans to consolidate the US bitcoin mining sector via hostile takeovers
-- Debt-free with over $1.3B in cash and bitcoin
-- Rival Bitfarms declined Riot's acquisition offer, citing undervaluation and lack of response to confidentiality requests
1. Nomura and GMO Internet Group are partnering to explore the issuance of Yen- and USD-denominated stablecoins in Japan
-- The collaboration aims to provide "stablecoin-as-a-service" products to assist companies in issuing stablecoins
2. Crypto prime broker Hidden Road halts client access to Bybit due to disagreements over KYC and AML requirements
3. The New York Stock Exchange is partnering with CoinDesk Indices to list index options tracking the price of bitcoin
4. BlackRock's IBIT becomes the largest spot bitcoin ETF in the US
-- Dethroned Grayscale, which has struggled with lowering fees
5. Bybit undergoes leadership changes following delays in Notcoin airdrop
-- The delayed distribution of tokens led to a lower trading price for those who received their tokens later
-- In response, Bybit issued $26M in cumulative compensation to users
1. Celebrities rush to release memecoins
-- Drops by Caitlyn Jenner, Iggy Azalea, Rich the Kid, and Floyd Mayweather
-- Fans rugged by celebrities who are partnering with serial scammer Sahil Arora for their projects
2. Circle launches USDC in Brazil in partnership with BTG Pactual
-- Brazil's Central Bank plans to unveil a regulatory framework for cryptocurrencies by the end of the year
3. PayPal USD now available on Solana
-- Will support confidential transfers on Solana
4. MoonPay launches new web3 tool platform for brands venturing into crypto
5. Telegram-based Catizen achieves over $10M in in-game revenue
-- Has a strategic partnership with memecoin project Notcoin and plans to expand into a mini-game platform
6. Memecoin project Floki launches a Telegram-based trading bot for FLOKI holders on the BNB Chain network
-- Plans to expand to Ethereum and Base blockchains
-- The bot charges a 1% fee on transactions, with half of the fees used to buy FLOKI on the open market
1. Japanese exchange DMM Bitcoin reports $306M worth of bitcoin stolen from its wallet
-- Promising to reimburse affected users
2. Memecoin project NORMIE faces exploit, leading to 99% price crash
-- Attacker calls NORMIE’s tax contract a 'copy-paste' job
1. A study of fairness in protocols (source)
2. A framework to identify sandwich attacks (source)
-- Accuracy of 96.73% and an F1 score of 95.71%
3. Copyright protection with physical unclonable functions and blockchain tech (source)
-- Use of blockchain tech to maintain provenance of copyright transfers
4. Implementing private queries for IPFS, a decentralized storage system (source)
5. Algorithms to identify arbitrage and sandwich attacks in the mempool (source)
6. Targeted Nakamoto (source)
-- A proof of work protocol that incentivizes miners to hone in on a target hashrate interval
-- When hashrate is above target a ceiling is placed on the block reward a miner can receive
-- When hashrate is below target a floor is placed underneath the miner’s block reward
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