NewsBriefs - Vitalik Buterin discusses Signal's integrity amid US intelligence concerns

May 8, 9:57 AM Crypto Briefing

Vitalik Buterin discusses Signal's integrity amid US intelligence concerns

Ethereum co-founder Vitalik Buterin addressed concerns on Signal's association with US intelligence and highlighted the value of open-source in enhancing the security and trustworthiness of the messaging app. He suggested further decentralization through a multi-client/server ecosystem to reduce single team influence, underscoring the importance of freedom of speech and decentralized principles in response to recent scrutiny over Signal's board chair's ties and its initial funding sources.

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• May 20, 6:00 PM LayerZero Labs identifies 800,000 potential Sybil addresses in public list

  LayerZero Labs identifies 800,000 potential Sybil addresses in public list

  LayerZero Labs, a key player in blockchain interoperability, revealed a list of 800,000 suspected Sybil addresses to curb airdrop farming, accounting for 13% of six million eligible addresses. This initiative, part of their broader anti-Sybil measures, aims to enhance token distribution fairness by eliminating potential abusers from the airdrop process. Initially identifying over two million potential Sybils, LayerZero refined their analysis to reduce false positives, prioritizing the integrity of the user base. This move highlights a significant step in addressing deceptive practices in the decentralized finance (DeFi) ecosystem.

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• May 20, 5:56 PM Uniswaps Labs and Across Protocol introduce token standard ERC-7683 for better cross-chain interoperability

  Uniswaps Labs and Across Protocol introduce token standard ERC-7683 for better cross-chain interoperability

  Uniswap Labs and Across Protocol have jointly introduced a new Ethereum token standard, ERC-7683, aimed at improving cross-chain interoperability. This standard will enable more efficient and cost-effective transactions across different blockchain networks by reducing relayer fragmentation and lowering costs for users. ERC-7683 will be utilized in Uniswap's upcoming platform, UniswapX, which seeks to facilitate cross-chain swaps through a broad network of automated market makers and other liquidity sources.

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• May 20, 9:59 AM Cryptoslate

  COPA court case concludes Dr. Craig Wright is not Bitcoin creator

  The UK court has ruled against Dr. Craig Wright in the case brought by COPA, finding extensive evidence of dishonesty in his claim to be Satoshi Nakamoto, the creator of Bitcoin. The judgment notes that Wright forged documents and lied repeatedly to support his assertions, undermining his credibility and dismissing his claims to have authored the Bitcoin White Paper and developed the Bitcoin system.

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• May 20, 1:16 PM WSJ

  Grayscale CEO Michael Sonnenshein steps down

  Michael Sonnenshein, Grayscale Investments' CEO, is stepping down after a decade, with Goldman Sachs' Peter Mintzberg set to take over in August. Mintzberg joins amid challenges as GBTC lost $17B following its ETF conversion, while competitors gained $30B. Despite this, Grayscale maintains strong revenues from high fees and rising crypto prices. Managing $30B in assets, Grayscale played a key role in securing regulatory approval for spot Bitcoin ETFs by suing the SEC.

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• May 20, 12:31 PM Crypto Briefing

  Ethereum funds face $23 million in outflows amid ETF uncertainty

  Ethereum experienced $23M in outflows amid uncertainty over a spot ETH ETF approval by the SEC. However, digital asset products saw $932M in inflows, with Bitcoin attracting $942M. Altcoins like Solana, Chainlink, and Cardano also saw positive inflows. The overall trading volume was $10.5B, driven by a lower-than-expected CPI report. The US led with $1B in inflows, while Hong Kong and Canada faced outflows. Blockchain equities continue to struggle with $512M in outflows over 20 weeks.

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• May 20, 6:07 AM Cointelegraph

  Ethereum researcher's advisory role at EigenLayer raises concerns about potential conflicts

  An Ethereum Foundation researcher, Justin Drake, has accepted a paid advisory position with EigenFoundation, leading to debates over possible conflicts of interest due to the significant financial incentives involved. EigenLayer, a protocol that enables double staking of ETH tokens, presents a conflict scenario as Drake will be compensated with EIGEN tokens vested over three years. While some praise his transparency, others worry about the ethical and risk implications for the Ethereum Foundation.

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• May 20, 4:44 AM Cointelegraph

  Five crypto indicators signal a potential bull market onset, says analyst

  Despite recent stagnation in crypto market capitalization, key on-chain indicators highlighted by analyst "ELI5 of TLDR" suggest the commencement of a new bull market phase. Bitcoin's sustained market dominance, a sub-peak MVRV Z score, moderate Puell Multiple readings, positive HODL Waves trends, and significant miner revenue per hash all support early signs of a bullish trend. Despite some metrics indicating potential overheating, the overarching analysis portrays potential for market growth.

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• May 20, 2:26 AM Cointelegraph

  Pump.fun ex-employee claims UK arrest and bail after $1.9 million exploit

  Jarett Dunn, a former employee of the crypto trading platform pump.fun, has claimed responsibility for a $1.9 million exploit of the platform's systems. Dunn alleges he was arrested and charged in the United Kingdom, subsequently spending time in custody. He was released on bail and sectioned for mental health evaluation. Dunn continues to communicate via social media, stating that he remains free in the UK but faces restrictions under his bail conditions, including not contacting his former employer or its CEO.

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• May 19, 9:12 AM Beincrypto

  Kraken maintains USDT listing for European users despite regulatory challenges

  Crypto exchange Kraken has confirmed it will continue supporting Tether's USDT for users in Europe, addressing rumors about its potential delisting due to the MiCA regulations. Mark Greenberg of Kraken highlighted the importance of USDT for European clients and assured compliance with all upcoming legal requirements. Tether's CEO Paolo Ardoino also emphasized the need for stablecoins to maintain 100% reserves in treasury bills to mitigate risks related to bank failures.

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• May 19, 2:26 AM Cointelegraph

  Bitcoin maintains stability above $65,000, defying deep correction predictions

  Bitcoin's price remains stable above the critical $65,000 support level, contrasting with earlier predictions of major corrections. Despite a recent 15% price drop, market sentiment is buoyed by signs of recovery and a potential shift into a belief phase, as observed in bull market cycles. Analysts continue to monitor the price closely, particularly post the Bitcoin halving event, while some suggest significant movements may only be evident if Bitcoin surpasses the $70,000 threshold.

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• May 18, 12:48 AM Cryptoslate

  Ethereum ETF has 30%–40% chance for approval: Coinbase

  Coinbase estimates a 30% to 40% chance that the US Securities and Exchange Commission (SEC) will approve spot Ethereum ETFs by the end of the month. This assessment, influenced by the SEC's prior approval of spot Bitcoin ETFs linked to market dynamics between CME futures and spot exchange rates, reflects a cautiously optimistic outlook. Despite potential political repercussions, the timeline for approval varies, with decisions on different applications due until August. Analysts like Bloomberg's Eric Balchunas provide lower expectations, considering such optimistic assessments as risky.

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• May 17, 3:26 PM Coindesk

  Morgan Stanley holds $270 million in Grayscale Bitcoin Trust for clients

  Morgan Stanley reported holding approximately $270 million in Grayscale’s Bitcoin Trust as of March 31, primarily for client investments in spot Bitcoin ETFs. This move follows similar disclosures by other major banks like JPMorgan and Wells Fargo, indicating a growing institutional accommodation of crypto investments. The investments mainly serve the banks' wealth management clients and are not reflective of the banks’ own positions on Bitcoin price directions.

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• May 17, 1:58 PM Blockworks

  Oklahoma law supports fundamental Bitcoin rights and crypto self-custody

  Oklahoma has enacted a law, effective November 1, 2024, ensuring residents' rights to self-custody digital assets and mine crypto without substantial regulatory burdens. Signed by Governor Kevin Stitt and sponsored by four Republican legislators, the law OKHB3594 prohibits the restriction of digital asset usage in self-hosted or hardware wallets, bans discriminatory electricity pricing for crypto mining, and shields crypto used for payments from additional state or local taxes. This legislation has been applauded by industry figures for safeguarding fundamental Bitcoin rights and promoting financial autonomy.

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• May 17, 12:20 PM Coindesk

  Dolce & Gabbana faces lawsuit over delayed NFT deliveries

  Dolce & Gabbana USA has been sued for improper handling and delayed delivery of its non-fungible tokens (NFTs), causing financial losses to customers. The luxury brand allegedly failed to ensure timely access to digital outfits in the metaverse, further compounded by delayed approvals from the NFT marketplace UNXD. This mismanagement resulted in a significant devaluation of the DGFamily NFTs originally purchased for various digital and physical benefits, prompting legal action in the Southern District of New York.

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• May 17, 11:58 AM The Block

  Telegram CEO supports Notcoin's success on TON blockchain

  Telegram CEO Pavel Durov endorsed Notcoin, a TON blockchain-integrated Mini App, which rapidly attained 35 million users and launched its NOT tokens, distributing over 80 billion to players and NFT voucher holders. The launch on TON allowed for a trading start on crypto exchanges, boosting Notcoin's fully diluted valuation to approximately $700 million. Durov praised the success as indicative of the potent synergy between Telegram and its blockchain ecosystem, highlighting the rapid value creation for users.

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