Issue #141

Regulation

1. Stablecoin issuer Terraform Labs settles with SEC for $4.47B in fines and a ban on "trading crypto asset securities"

2. Uniswap Labs appoints Katherine Minarik as its new Chief Legal Officer

-- Katherine formerly served as a legal exec at Coinbase

-- Uniswap was recently issued a Wells Notice by the SEC and preparing for legal action

3. European Banking Authority releases final technical standards for compliance under the Markets in Crypto Assets (MiCA) legislation

-- Includes stress testing and liquidity requirements for crypto firms

4. Donald Trump is doubling down on crypto

-- Wants US to be a clear leader in Bitcoin mining

5. Gemini reaches $50M settlement with New York AG over defrauding investors via its Earn program

-- Gemini Trust assures that affected users will receive 100% of the assets owed to them within 7 days

-- The settlement also bans Gemini from operating any cryptocurrency lending program in New York state

Infrastructure

1. Solana Foundation removes validators involved in enabling sandwich attacks

-- Over 30 Solana validators, many of whom were Russian, were removed from the Solana Foundation Delegation Program

2. Social platform FriendTech moving away from Base

-- Launching its own blockchain called Friendchain in partnership with Conduit, a RaaS provider

3. OP Labs (finally) introduces fault proofs to OP Mainnet, reaching "Stage 1" decentralization

-- Background: fault proofs are necessary for optimistic scaling

4. L2 ZKsync airdrops tokens and launches ZK Nation

-- Distributing 17.5% of its total token supply to early users and contributors (approx. 695k eligible wallets) through a one-time airdrop

-- ZK Nation: a community-driven governance system to oversee protocol upgrades and network changes

5. Deutsche Telekom's subsidiary T-Systems MMS to begin mining Bitcoin and validating PoS chains

6. Polygon plans to allocate 1B POL tokens over the next decade to ecosystem grants

-- Participants can choose between 2 tracks: General Grant Track and Consumer Crypto Track

7. Base overtakes OP Mainnet to become the 2nd-largest Ethereum L2 in TVL

-- TVL now exceeds $8B but still trailing Arbitrum One

Finance

1. Spot Ethereum ETFs expected to attract 10-20% of flows compared to Bitcoin ETFs

-- SEC expected to approve the trading of spot Ethereum ETFs as early as the 1st week of July

2. Crypto VC Paradigm raises $850M for Fund III

-- Georgios Konstantopoulos promoted to General Partner

3. Fidelity International is tokenizing a money market fund on JPMorgan's Onyx Digital Assets blockchain

-- Why? Enhanced efficiency in margin requirements delivery; reduced transaction costs and operational risks

4. A Bank for International Settlements survey revealed that 94% of central banks are considering issuing a CBDC, with a focus on wholesale CBDCs for institutions over retail versions

5. Binance hits 200M users mark

Consumer

1. Arbitrum Foundation allocating 225M ARB tokens over 3 years to support gaming projects

2. Stablecoin issuer Paxos lays off 20% of its staff

-- De-prioritizing initiatives unrelated to stablecoins and tokenization

3. Iggy Azalea's $MOTHER token aims to provide utility

-- Token holders may soon be able to use $MOTHER to buy phones and cell plans from Iggy's new telecom company

4. Coinbase's former head of comms Elliott Suthers joins Worldcoin

5. TipLink introduces TipLink Wallet Adaptor

-- Aims to mimic the Apple Pay UX on mobile but for crypto payments

6. Solana Labs introduces Bond, a blockchain-based customer engagement platform

Security

1. CoinGecko suffers from a data breach

-- 2M contacts' data exposed in breach

-- While user accounts remained secure, leaked information included names, emails, IP addresses, and locations of email opens

2. Lending protocol UwU Lend suffers a $24M exploit

-- Offering a $5M bounty to identify the hacker

-- Cause of the exploit is still under investigation

3. Omnichain tokenization protocol Holograph exploited with an attacker minting 1B HLG tokens

-- On-chain data links the exploit to wallet acc01ade.eth, potentially connected to a Github contributor with the same handle

-- Holograph has patched the exploit and frozen the hacker's accounts

4. Crypto exchange Lykke loses $22M to exploit

-- Confusingly assured users that funds are safe and will be recovered, while also initiating a criminal investigation into the incident

Research

1. A scheme to measure the reliability of mixnets (source)

2. A communication protocol optimized for MPC with abort (source)

3. Scaling smart contracts based on the UTXO model (source)

4. Outperforming state-of-the-art sharding protocols (source)

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