Circle Dropped Automated Clearing House Payments: Dapper Labs (2 minute read)
On Monday, Dapper Labs reported it could no longer process ACH payments due to its payment partner, Circle. Later, Dapper Labs announced in its Discord that Circle had decided "effective immediately" to stop processing ACH payments for all of its partner companies. This decision leaves Dapper Labs and other companies using Circle with one less on and off ramp solution for their customers, forcing their customers to use wire transfer or USDC to withdraw from the platform or credit cards, debit cards, and crypto to purchase items on the platform. It's unclear what might have caused Circle to take this action, but it comes amidst a time of intense scrutiny on stablecoins. |
Grayscale Products Buoyed Following Oral Arguments in Case Against the SEC (2 minute read)
Oral arguments in Grayscale's appeal against the SEC concluded today and shares of GBTC and ETHE traded up around 5% and 6% respectively, despite trading in broader crypto markets being flat, indicating the markets saw the arguments as going in Grayscale's favor. Don Verrilli, Grayscale's lead counsel, laid out his arguments as expected and received questions from the judges. Emily Parise, SEC senior counsel, faced early roadblocks as Judge Rao questioned the regulator's argument. The SEC appeared "a bit rattled" as Judge Rao asked questions regarding the relationship between bitcoin futures and the spot price. |
Pennsylvania is Now Home to a 100% Nuclear-Powered Bitcoin Mining Facility (2 minute read)
TeraWulf, an owner and operator of domestic Bitcoin mining facilities powered by 91% zero-carbon energy, has announced the energization of its Nautilus facility, a 100% nuclear-powered Bitcoin mining facility located in the US. Powered by the 2.5GW Susquehanna nuclear generation station, the facility has over 8,000 miners onboard and will run at the lowest cost of $0.02/kWh for a term of five years. |
Viem – a TypeScript Interface for Ethereum (2 minute read)
Viem is a TypeScript Interface for Ethereum that provides low-level stateless primitives to interact with Ethereum. Viem focuses on stability, efficiency, and excellent developer experience. It provides a great developer experience through modular and composable APIs, comprehensive documentation, and automatic type safety and inference. It boasts a small bundle size, optimized encoding/parsing algorithms, and provides developers with the option to choose their opinions while still maintaining secure defaults. |
The Interoperability Thesis: Connecting the Archipelago of Blockchains (7 minute read)
Throughout the last bull market, new L1s and L2s proliferated as developers and users sought an alternative to the increasingly high gas fees on Ethereum. We saw chains like Solana, Avalanche, BSC, and others gain share due in part to their speed and fee advantages. This led to a fragmentation of liquidity amongst chains and created a cumbersome user experience moving from chain to chain. This UX drove innovation in cross-chain messaging seeking better solutions for interoperability. This article dives into some of these cross-chain messaging techniques, their similarities and differences, and the overall thesis for interoperability and connecting chains and their liquidity. |
Overcoming Cognitive Biases in Crypto Trading (7 minute read)
This thread presents 14 cognitive biases that can impact crypto investors and explains how they work. The biases covered include FOMO, Confirmation Bias, Sunk Cost Bias, Endowment Effect, Survivorship Bias, Narrative Bias, and Authority Bias. The thread also provides tips for avoiding these biases, including keeping a trading log, creating a cognitive bias checklist, and understanding market caps. By recognizing and avoiding cognitive biases, crypto investors can make better investment decisions. |
Crypto Startups, Beware the 'Dry Powder Fallacy' (7 minute read)
Crypto venture funds raised more than $99 billion last year, seemingly leading to an abundance of dry powder as top tier firms like Haun Ventures, a16z and BlockTower have deployed less than 50% of their multi-million or billion-dollar funds. However, veteran venture capitalists are warning founders not to fall for "the dry powder fallacy". Factors such as limited partner capital calls and changes in valuations of paper wealth investments could reduce the overall reserves. Ultimately, while dry powder is a directional indicator, it is essential to understand that dry powder is not a static or absolute measure, and it does not guarantee that funds must deploy this "remaining" capital. |
Like a Blur: Tensor Plans Massive Airdrop for Solana NFT Traders (4 minute read)
Tensor, a relatively small player in the Solana NFT marketplace wars, is quickly gaining market share with a tactic taken from Blur's playbook, offering rewards in proportion to trading activity on the blockchain network and 'loyalty' rewards for using its marketplace. It saw a surge in trading volume on Monday and announced that it had raised a $3 million seed round. The platform is built around automated market makers and offers a pro trader interface. It has launched a second season airdrop that rewards trading activity on its platform with a loyalty metric and points leaderboard to gamify the trading experience. |
Making "The Blockchain" the Next Place you Need to Be (6 minute read)
To cross the chasm and become inevitable, blockchain technology needs to become the next understood notion, allowing people to buy and sell goods in a way that was previously impossible. This article from TCG compares where blockchain is in relation to past understood notions such as getting "online", the web, and the cloud. |
Real World Assets as an Upcoming Crypto Narrative (3 minute read)
RWAs are blockchain-based representations of real-world assets, such as commodities, real estate, insurance, securities, and bonds, that can be traded, transferred, used as collateral for loans, verified, etc. This thread highlights some of the benefits of on-chain RWA representation including innovation, liquid markets, reduced costs, built-in compliance, increased efficiency, and increased transparency. |
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