Everything web3, crypto, defi, degen
In brief FTX investors have filed a lawsuit against Silicon Valley law firm Fenwick & West, accusing it of being “deeply intertwined” in the crypto exchange’s collapse. Of 130 firms that worked with FTX named in multidistrict litigation, Fenwick & West is the only one accused of having actual knowledge of FTX’s scheme and providing…
In brief Almost 8% of Ethereum’s total supply is now taken up by ETH ETFs and strategic reserves, up from 3% at the start of April. Ethereum ETFs account for over 5% of the circulating supply of ETH. Firms that missed the Bitcoin treasury moment are “jumping on Ethereum and other altcoins,” analysts told Decrypt.…
In brief Stripe is reportedly building a payments-focused Layer 1 blockchain called Tempo with VC firm Paradigm. The stealth project was revealed via a job listing on the Blockchain Association’s careers board. Analysts say Tempo could offer predictable fees and performance, but success may hinge on privacy and openness. Stripe, a private financial technology firm…
Alleged crypto crook Do Kwon—who was behind the failed crypto project Terra—is now expected to plead guilty, court documents show.A scheduling order for a potential change of plea in the United States’ case against Kwon was filed Monday ahead of the conference on Tuesday, August 12.Kwon previously pleaded not guilty in a New York court to…
In brief Stablecoin issuer Paxos applied for a national trust charter with the OCC. The firm joins Circle and Ripple among stablecoin companies seeking the national charter. In May, the OCC announced it would allow national banks to custody and manage crypto. Stablecoin and tokenization firm Paxos has filed an application with the Office of…
In brief The Uniswap Foundation published a proposal for Uniswap Governance to become a Wyoming Decentralized Unincorporated Nonprofit Association (DUNA). The Cowboy State enacted the legal framework for DAOs last year. It would allow Uniswap Governance to operate with greater legal clarity, Uniswap Foundation General Counsel Brian Nistler said. The Uniswap Foundation published a proposal…
In brief Vitalik Buterin, the co-founder of Ethereum, is a billionaire following ETH’s 20% weekly rise. Wallets connected to Buterin hold $1.045 billion worth of assets, mostly Ethereum. ETH’s recent surge has seen it pass several traditional companies in market capitalization, including defence contractor Palantir. Ethereum co-founder Vitalik Buterin is an “on-chain billionaire” again, as…
In brief Ethereum ETFs led digital asset funds with $268 million in weekly inflows, narrowly outpacing Bitcoin’s $260 million despite early-week volatility, according to CoinShares. The turnaround came after $1 billion in combined outflows early in the week, triggered by weak U.S. payroll data, before a $1.57 billion surge following 401(k) crypto approval. Ethereum’s year-to-date…
In brief Ethereum’s recent surge, driven by institutional ETF inflows, has sparked increased market confidence in potential altcoin season. Top altcoins like Solana, Dogecoin, XRP and meme coins are likely to see an increased speculative activity. Analysts believe this phase could last until November Ethereum-betas could catch a headwind due to the cautiously optimistic due…
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.GM!Today’s top news: Crypto majors sell off after big overnight pump; BTC at $120,500 ETH soars to $4,350 in big weekend run; Punks hit $235k…
