Binance Bid for Singapore License is Back On (3 minute read)
Binance is looking to secure a permit to offer crypto-related services in Singapore with a focus on corporate clients rather than retail investors. The exchange's custodial arm, Ceffu, will apply to the Monetary Authority of Singapore once the application for a custody license opens. After withdrawing its application in 2021 after several months of waiting, Binance has decided to resubmit its application. While it will still take time to be approved, this delayed registration process is likely preferred over regions with a lack of clarity, like the United States. Singapore regulators have introduced tighter rules around the crypto industry to limit risks to retail investors, which Binance is taking into account in their application. |
Australia's Central Bank Taps Mastercard and Others to Test CBDC Use Cases (2 minute read)
The RBA has revealed its set of digital dollar pilot projects which it hopes to complete by mid-2023. The projects will look at use cases ranging from offline payments to bond settlement to securities trading, and involve industry participants ranging from smaller fintechs to large financial institutions. Projects will be aimed at using the eAUD and USDC stablecoin for use cases like offline transactions and streamlining foreign exchange trades and remittances. These initiatives come amid a regulatory crackdown in the US on BUSD and looming threats of regulations on stablecoins as a whole. |
Ethereum Developers Deploy "EntryPoint" to Let Wallets Operate as Smart Contracts (2 minute read)
Ethereum developers have released EntryPoint, a mechanism that enables crypto wallet accounts to operate as smart contracts. This new release facilitates complex tasks such as automated payments and adding recovery methods, which are currently unavailable. Following a security audit conducted by security firm OpenZeppelin, EntryPoint is now accessible on several blockchain networks. It will enable developers to provide smart wallet features that greatly enhance user experience like account recovery, native multi-signatures, and covering gas fees for users. |
Magic Eden to Host More than a Dozen Free Gaming NFT Mints in March (2 minute read)
Magic Eden is holding a special event called 'Mint Madness' in March, with 13 projects set to launch gaming NFTs on Polygon, Ethereum, and Solana. Users who trade from collections listed on Magic Eden's secondary marketplace will be entered into a prize pool of 20,000 MATIC for the top 10 traders by volume, with the first-place finisher receiving a prize of 4,500 MATIC. The event will feature a cross-chain mint for the AAA FPS title Shrapnel, launching on Polygon on March 15 and Ethereum on March 22. |
An Overview Of Crypto Bridges (10 minute read)
Over the past several years, blockchains have proliferated, and the crypto landscape has become increasingly multichain. This has created the need for bridges or ways to move assets between these different chains. This article provides a great explanation of Crypto Bridges and the differences between each one. Popular bridge projects include Synapse, Connext, RelayChain, and Stargate. Synapse is a cross-chain liquidity protocol that allows users to bridge assets between the various chains. Connext is an Ethereum L2 solution that facilitates the transfer of assets across blockchains and roll-ups. Relay is a bridge aggregator and features a lottery system for users and staking for liquidity. Stargate is a native asset bridge that solves the bridging trilemma of instant guaranteed finality, native assets, and unified liquidity. |
Ethereum Liquid Staking 101 (4 minute read)
DeFi and concepts like staking and liquid staking can be extremely confusing; however, they are important concepts to understand, especially over the past several months as the liquid staking narrative has been one of the central themes of crypto. This thread provides a comprehensive guide to the Ethereum Liquid Staking (LSD) market, discussing five protocols for staking ETH, the economics of each of the protocols, future projections for ETH liquid staking, and overall takeaways and insights on the sector. |
Mt. Gox Creditors May Finally Start Seeing Their Bitcoins this Month (3 minute read)
Creditors of the now-defunct Mt. Gox cryptocurrency exchange may start to receive their first bitcoin payments as soon as March 10th. Payments will be made in Bitcoin, Bitcoin Cash, and fiat money, with claimants expecting to receive around 21% of the civil rehabilitation claim value. Exchanges have set various processing timeframes, but BitGo and Kraken have said it may take up to 20 and 90 days to process payments, respectively. Two of Mt. Gox's biggest creditors, Bitcoinica and MGIF, have elected to take the early lump sum payment option and will therefore receive their payments in crypto and cash. |
Beyond Extraction: The Role of Block Building in the Future of Ethereum (8 minute read)
This article explores the potential role of block building in the future of applications and Ethereum. Block building is a process by which validators are elected to select transactions for the next block. As the block-building market develops, MEV is becoming an increasingly competitive space with more sophisticated block builders carving out profit; however, as this market becomes more competitive and margins decrease, block building will likely evolve from MEV extraction to include other products and services such as gas optimization, conditional transaction execution, and security. All of this could lead to block building becoming increasingly important for both the user and developer experience and the future of scaling Ethereum. |
What Do Crypto VCs Know that You Don't? (3 minute read)
This thread gives a high-level update on crypto VC activity over the past month and dives into 5 different DeFi projects that recently raised capital. Notably, total deal count was up in February again after reversing its multi-month downtrend in January. |
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