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  • 11/28/23: The Blockchain Résistance ✊🧠🪙

11/28/23: The Blockchain Résistance ✊🧠🪙

Author

Valko
November 28, 2023

Top News

  • ✊ BitMEX founder calls U.S. treatment of Binance & CZ “absurd”

  • 🧠 Vitalik proposes “d/acc” philosophy in techno-optimism blog post

  • 🪙 Coinbase dominates custody service for BTC ETF applications

U.S. Treatment of CZ, Binance Is 'Absurd:' Arthur Hayes

The former BitMEX CEO said the record-breaking penalties imposed on Binance represent an institutional bias against the transformative impact of cryptocurrency and blockchain technology.

⌐◪-◪ → Arthur Hayes’ recent essay on Binance and CZ’s settlement is a must read. He argues that it’s indicative of the government’s resistance against decentralization and the blockchain revolution, comparing CZ’s punishment to the more lenient outcomes of comparable historical cases. Hayes’ language is strong and empassioned, as expected from somebody previously prosecuted by the state, where Hayes plead guilty to violating the Bank Secrecy Act, just like CZ.

Vitalik Buterin Proposes 'd/acc' Philosophy in Techno-Optimism Post - The Defiant

Ethereum creator Vitalik Buterin introduced a novel philosophical approach to technology, termed 'd/acc' - Defensive (or Decentralization, or Differential) Acceleration, in a blog post published Monday.

⌐◪-◪ → A new Vitalik blog post just dropped, coining a new philosophical approach to technology called: d/acc: Defensive (or decentralization, or differential) acceleration. While his blog post is very well thought out, he’s essentially saying that he agrees with both the e/acc or the tecno optimist folks and the anti-technology doomsdayers - and that we must continue to accelerate and build while ensuring we steer things in the right direction. His meme sums it up perfectly. Only a Sith deals in absolutes.

Coinbase Is Dominating a Key Bitcoin ETF Service. Can Anyone Else Join the Race?

Brian Armstrong's exchange is way ahead in being the custodian for ETF applications, and a famous name in custody, BitGo, has been missing from the conversation.

⌐◪-◪ → Coinbase was selected as the custodian in 9 of the 12 pending Spot Bitcoin ETF applications. While this is definitely exciting for coinbase, especially after stock market highs, it’s not ideal from a decentralization standpoint. As for the other applicants, Fidelity decided to custody their own asssets, VanEck picked Gemini, and 1 applicant remains undecided. This means the entire Bitcoin ETF market may boil down to 3 players, with BitGo left on the sidelines.

Peripheral Vision

⛓️ Crypto & DeFi

  • Vitalik wants to redesign Ethereum staking, praising UTXO model

  • Binance's new CEO says he’s committed to the “Binance Way”

  • Stablecoin market cap increased $5B over the last 30 days

  • EVM chains see tx count spike over 1,000% since mid-November

  • Tornado Cash to be delisted by Binance, token plummets 56%

  • “Lightning Cat” AI model can detect smart contract vulnerabilities

  • Solana MEV developer Jito launching governance token

  • Cube.Exchange emerges from private beta to early access

  • Kronos Research offers 10% bounty to hacker behind $25M heist

  • Vertex passes dYdX as top perpetual DEX with $1.5B daily volume

🏦 Wallstreet & VC

  • Ark Invest sells $5.3M Coinbase shares after 18-month high

  • BlackRock may be purchasing Bitcoin from miners in secret

  • MYX Protocol raises $5M for crypto derivatives led by HongShan

🏛️ Legal & Regulatory

  • Federal judge officially orders CZ to stay in the US until sentencing

  • Charles Hoskinson accuses SEC of special treatment for Bitcoin

  • SEC has 44 days to make a final decision on Ark’s spot BTC ETF

  • SEC wants to prove Binance founder CZ committed an FTX-style fraud

🌎 Rest of the World

  • EU lawmakers want a bloc-dependant metaverse strategy

  • TRM Labs partners with Australian exchange Sqyftx to combat scams

  • Spot BTC ETFs have nearly $100M in AuM in Brazil, led by Hashdex

  • Nine Block, a crypto hedge fund, secures Dubai digital assets license

  • MAS calls BTC a “private cryptocurrency” that “failed miserably”

  • South Korea’s largest crypto exchange reports -81% in net profits

🖼️ NFTs & Metaverse

  • Gordon Goner continues NFT buying spree with Refik Anadol & more

  • Pudgy Penguins release exclusive Walmart “influencer box”

  • Animoca Brands becomes the largest validator on the TON network

  • Animoca Brands invests in Farcana, an upcoming game on Bitcoin

  • DeGods makes a difficult decision to kill Points Parlor