Crypto News
What Is Blur’s NFT Lending Protocol, Blend?
Key Points Blur Lend (“Blend”) is a new NFT lending protocol for the Blur NFT platform. It lets users take out ETH loans against NFT collateral or borrow ETH (i.e., buy now and pay later) to purchase NFTs on the Blur marketplace. The protocol went live on 5/1/2023. Blend loans are currently supported across 3 NFT collections (Azuki, Cryptopunks, Miladys)......
Ethereum Shanghai Upgrade – What it Means For Staking ETH
Key Points Since Ethereum’s Shanghai upgrade on April 12th, the total amount of ETH staked has decreased by ~450K (~2% decline in total ETH staked). Another ~490K ETH is slated to be withdrawn over the coming weeks. But it is unclear how much new ETH will be staked and thus offset these impending withdrawals. The......
zkEVMs: Shaking Up The Ethereum L2 Landscape
You’ve probably heard the term “zkEVM” a lot. Historically, we’d classify it as an abused marketing term that was best ignored. But now it’s probably worth paying attention to. Here’s why. zkEVM: From Imagination to Implementation To date, the zkEVM discourse has been laden with “announcements of announcements.” But zk-Rollup dev orgs are starting to......
Can Blur Find A Path To Sustainability?
Launched in October 2022, Blur has shot up the ranks and become the #1 trading platform for NFTs by volume. Over the past 4 weeks, it’s seen ~$1.1B worth of NFTs traded on its platform vs. OpenSea’s ~$270M. That’s ~4x more than OpenSea - a company that was valued at $13B in its most recent funding round. Milk Road & Dune......
Ethereum’s Shanghai Upgrade: What You Need To Know
Key Takeaways Ethereum’s Shanghai Upgrade is scheduled for April 12th. It will enable withdrawals of staked ETH for the first time since staking went live in December 2020. Post-Shanghai, ~$33B worth of staked ETH could theoretically be withdrawn and sold. But the chances of a Shanghai-induced ETH sell-off are slim. Shanghai should result in more......
Gemini Pushes Back On Report Of Cut Ties With JP Morgan
A new report from Coindesk claims that banking giant JP Morgan is severing ties with crypto exchange Gemini. JP Morgan began offering both Gemini and Coinbase banking services in May 2020 (Coinbase told Coindesk it still has a deal with the bank.) Gemini was quick to push back on the news, tweeting that “despite reporting to the contrary, Gemini's banking relationship......
A new liquid staking protocol comes to Coinbase & other exchanges
There’s a new way for crypto services to offer liquid staking for customers. Liquid Collective is a protocol that will let the likes of institutional players like Binance offer liquid staking to users. It launched Tuesday and is governed by a group of crypto leaders, including Coinbase, Acala, Alluvial, and Bitcoin Suisse. Why is this a big deal? Because......
Grayscale’s GBTC up 10% after hearing against the SEC
Lawyers for Grayscale and the SEC went before a federal appeals court Tuesday over the company’s proposal to launch the country’s first-ever Bitcoin spot ETF (exchange-traded fund.) Bitcoin spot ETFs aren’t legal in the U.S.— the agency has shot down over a dozen applications for one. So this case between Grayscale and the SEC is kind......
Yuga Labs made $16.5M in first Bitcoin NFT Twelvefold auction
Yuga Labs, the company behind the Ethereum-based Bored Ape Yacht Club NFT collection and the biggest player in the NFT world, just made 733 BTC ($16.5M) from its first-ever Bitcoin NFT auction. The top 3 winning bids out of the 288 NFTs, named Twelvefolds, were: 7.12 BTC ($159,954) 7 BTC ($156,963.8) 4.12 BTC ($92,384) The lowest......
Genesis Trading Pauses Lending: Crypto Brokerage Updates
On November 10th, Genesis revealed their derivatives business had $175 million in locked funds with the now-shuttered FTX crypto exchange. This page is intended as a living document to chronicle events related to Genesis Trading, the potential effects on other market players, and what these events may mean for the broader crypto market. Genesis Trading - Events Timeline......
Apple Blocks Coinbase Wallet, Demands 30% Cut Of NFT Gas Fees
Apple has restricted NFT functions within the highly-popular Coinbase Wallet on iOS, demanding a 30% cut of gas fees associated with token transfers. https://twitter.com/CoinbaseWallet/status/1598354819735031809 According to a tweet from the official Coinbase Wallet Twitter account, Apple has blocked the latest version of the non-custodial wallet on iOS – demanding that developers disable the ability to send NFTs in the......
Uniswap’s NFT Aggregator Finally Goes Live
Uniswap has finally released its NFT platform to the public, enabling users to find the best prices for their favorite NFTs across multiple marketplaces. The launch is accompanied by a USDC airdrop to historical users of Genie, the NFT aggregator it acquired in June of this year. The first 22,000 NFT buyers on the platform will also receive gas rebates, for a......
Bybit Debuts $100M Support Fund For Institutional Traders
Bybit, a well-known crypto derivatives exchange, has launched a support fund for its institutional clients at a fitting time for the crypto industry. It has announced a $100 million fund that'll help institutional traders and market makers facing financial difficulties to stay afloat. The crypto sector is facing tough times propelled by the recent collapse of FTX, a top-five crypto exchange.......
Genesis Creditors Recruit Brian Rosen To Retrieve Funds
Genesis creditors have banded together to coordinate expert legal representation, in the hopes of arriving at an amicable resolution with the digital asset company. Genesis is under fire after cutting off customer access to their deposits this month, following FTX's bankruptcy. An assembled group of creditors already has more than $700 million represented, making up a......
Curve Releases Stablecoin Whitepaper – crvUSD On The Way?
DeFi protocol Curve has released its stablecoin whitepaper via GitHub today, at last providing some more details on their long-awaited stablecoin, suspected to be named crvUSD. The whitepaper includes new insight into a brand new innovation known as “lending-liquidating AMM algorithm” or “LLAMMA” – a mechanism designed to improve upon the clunky liquidation mechanisms of stablecoin competitors. Many questions......
BitYard Partners With CoinLedger To Enable Tax Reporting
BitYard, a popular crypto exchange based in Singapore, has introduced a new feature for its users with the help of a partner. The exchange has partnered with CoinLedger, a crypto tax reporting platform, to enable users to easily prepare tax reports for their crypto transactions. CoinLedger is one of the top-five cryptocurrency tax software globally. It lets you import transactions......
US Congress Probes Binance’s Role in FTX Collapse
The United States Congress has decided to launch an investigation into Binance, citing it had a role in the downfall of FTX. This is much to the dismay of many crypto enthusiasts who seem to think Changpeng Zhao (CZ), CEO of Binance, was some kind of savior for the crypto community. But the question is,......
Crypto Investment Platform YouHodler To Start Referral Program
YouHodler, a well-known crypto investment platform, has announced that it’s starting a bonus and referral program for users. The new program coincides with the company's four-year anniversary. YouHolder is a platform that lets you earn interest on your crypto assets. You can also borrow crypto funds from the platform to invest and repay with interest– think of it as......
A Dormant-Since-2011 Bitcoin Wallet Just Became Active
The recent market crash seems to have woken up a few Bitcoin whales which had been in a decade-long hibernation. On Friday morning (ET), a BTC wallet that had been inactive since 2011 suddenly started sending BTC. 3500 "sleeping bitcoins" (approximately $60 million) were moved for the first time in 11 years to a new address,......
Brian Armstrong on FTX Collapse: “I Did Not See This Coming”
Brian Armstrong, co-founder and CEO of Coinbase, appeared on the The All-in Podcast where he discussed the high profile collapse of the FTX exchange. During his appearance on the show, Armstrong confirmed he was in contact with Sam Bankman-Fried (SBF) — the CEO of FTX, and Changpeng Zhao (CZ) — the CEO of rival exchange Binance, earlier in the week.......
