Bitcoin Investors Are Plotting a Major Coup (9 minute read)
Activist shareholders of the world's largest bitcoin investment trust, GTBC, are attempting to oust Grayscale Investments, the trust's steward. Thousands of GBTC shareholders have voiced their support for the campaign. RedeemGBTC, the group behind the campaign, wants Grayscale to reduce its 2 percent management fee and to allow investors to exchange their shares directly for the underlying bitcoin. Grayscale CEO Michael Sonnenshein has stated that his firm has no intention of stepping down from its role. |
Jump Crypto Is Unnamed Firm That Made $1.28B From Do Kwon's Doomed Terra Ecosystem (3 minute read)
US regulators are suing Do Kwon and Terraform Labs for the failure of its TerraUSD (UST) stablecoin and LUNA token. The SEC's complaint accused Kwon and Terraform of securities fraud and selling unregistered securities that harmed US investors. The complaint also mentioned an unnamed US trading firm that had an exclusive market-making agreement with Terraform Labs, but the firm was not accused of any wrongdoing. The unnamed trading partner that made $1.28 billion in profits before Terra's $40 billion ecosystem collapsed is apparently Jump Crypto. |
OpenSea Goes Zero-Fee, Creator Royalties Optional (2 minute read)
OpenSea announced on Friday that it will temporarily eliminate its marketplace fees. Additionally, it will default all collections without on-chain royalty enforcement to optional creator royalties starting at 0.5%. OpenSea has adjusted its blocklist of other marketplaces to allow sales on NFT marketplaces with the same policies, including Blur. Creators can now earn full royalties on their collections without having to choose between OpenSea and Blur. |
DAI Finds Its Spark With Spark Lend (3 minute read)
Phoenix Labs recently launched Spark Lend, a new lending market that uses code from Aave v3. Spark Protocol will pay Aave DAO 10% of all profits made within the DAI market. Spark Lend will reactivate MakerDAO's DAI Savings Rate and make it available to DAI lenders and borrowers. Spark Protocol is collaborating with Element Finance and Sense Protocol to launch a fixed-rate product at scale. It also plans to launch its own liquid staking derivative called sEtherDAI. |
Bitcoin Protocol Development Curriculum (GitHub Repo)
This repository contains a curriculum for Bitcoin protocol development. The curriculum consists of two parts: grouped subjects that can be completed independently or in groups, and the Bitcoin Syllabus, a collection of resources grouped by subjects. The Bitcoin Syllabus covers the history and philosophy of Bitcoin, soft forks, protocols, security models, mining, hard forks, cryptography, transactions, and much more. |
Compute legos: driving the next phase of crypto innovation (7 minute read)
'Money legos' allow developers to build on existing DeFi infrastructure, driving fintech innovation at a fast pace. This helped create a rapid growth in DeFi usage. However, two key issues are preventing further crypto innovation: limited compute power and perverse incentives around open-source software. Cloud services provide compute legos to enable full composability with improved developer incentives. This could lead to a new wave of crypto innovation. |
Arbitrum Native Decentralized Exchange Camelot Growing Massively in February (3 minute read)
Camelot, a decentralized exchange on the Arbitrum network, has seen significant growth since its launch at the end of 2022. Daily trading volume has increased 369%, and the price of Camelot's native token, GRAIL, has increased 520%. The number of users and transactions grew more than 120% in 24 hours recently. Camelot's tokenomics includes two tokens: GRAIL and a non transferable governance token called xGRAIL. Swap fee earnings are redistributed to xGRAIL holders and used to buy and burn GRAIL from the open market. |
Nishad Singh, a Top Bankman-Fried Associate, Nears Plea Deal in FTX Probe (4 minute read)
Nishad Singh is expected to plead guilty to US criminal charges related to a multiyear fraud at crypto exchange FTX. The Commodity Futures Trading Commission and the Securities and Exchange Commission are planning to sue Singh over his alleged role in the scheme. Singh had a close relationship with Bankman-Fried. He helped write the software the exchange was built on. The deal, which could involve cooperating with authorities, has yet to be finalized. |
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