What's News With You?
Covering the latest news in the DeFi space. If you haven't seen it before, it's news to you!
In this week’s edition of ‘The Cortex Connection’, we thought we’d take it a bit lighter and share some of the latest informative and exciting news we’ve come across. So sit back, relax, and let’s dive in!
Security
“For the past 48hrs I’ve been unwinding a massive wallet draining operation…”
Popular blockchain sleuth and Twitter personality @tayvano_ is on the case for a potential exploit of (currently) unknown origins responsible for draining atleast 5000+ ETH and countless other digital assets across many chains.
Everlasting.io, an up-and-coming digital asset security firm, has provided a perspective that answers some users' FAQs while the investigation is underway.
“Did they really think this one out?”
Hardware wallet manufacturer @Ledger has a promotion running that includes an ‘exclusive chain with free shipping’ when you order their Ledger Nano X OnChain bundle. @0xngmi rightly insinuates that this may not be a popular move.
Regulatory News
“Chair Gensler’s absolute trainwreck of an oversight hearing yesterday…”
Ryan Selkis, founder of DeFi research firm Messari, has provided his take on SEC head Gary Gensler’s testimony in front of the House Financial Services Committee.
“Perpetual swaps and other exotic crypto-related derivatives make up a large part of daily trading activity, but are for the most part unavailable in the U.S. due to regulatory strictures.”
Fortune magazine reports that Coinbase is planning to launch their Bermuda based exchange in the coming weeks having now obtained their license to operate on the crypto friendly island. CEO Brian Armstrong only days earlier warned that the absence of clear regulations could force crypto firms to relocate offshore.
For Your Information
“Here are the 7 most important charts to understand the United State’s fiscal position…”
A thread created by former hedge fund manager Jesse Myers has been circulating Twitter detailing why he believes the US is “heading toward a debt-spiral black hole.”
“Crypto oracles are the key to bridging the real world with decentralized networks”
Read Forbes magazine’s latest article breaking down why blockchains need oracles. Also covered in the article are the issues with centralized oracles and how decentralized oracles can solve the problem.
“Pivotal point in the market”
Venture investor and prominent crypto trader Andrew Kang shares some data on the current state of BTC, ETH, Gold, DXY.
“Overall the report reflects a healthier industry than market prices may indicate…”
The crypto arm of the Andreesen Horowitz venture capital fund has published 7 key takeaways from their 2023 State of Crypto report. You can read the full report on their website here.
Voyager, the UCC, and the Government reached a resolution that will allow the plan to move forward…”
Customers turned creditors of Voyager Digital have been going through the bankruptcy proceedings since July 2022 can rest a little easier today knowing that Binance.US is being allowed to move forward with their plan to acquire Voyager’s assets. If the plan is approved by the courts, affected users will finally get back what remains of their assets.
Governance News
“Cosmos Hub governance will have to determine if the potential value Neutron can provide for ATOM stakers justifies the additional costs...
AJ Scolaro with Messari.io reports on the effort to onboard Neutron, Cosmos Hub’s first Partner Chain secured via Replicated Security. He also gives a breakdown in great detail on what all this means for the Cosmos ecosystem. The proposal, still moving through the draft discussion phases, should be posted for on-chain voting soon.
“Deploying early on zkEVM helps solidify Uniswap’s place as the number one DEX and a thought leader…”
After a unanimous governance vote, Uniswap is set to deploy its v3 iteration on Polygon’s newly launched zkEVM Layer 2 netwok.
“This will enable brands to establish and manage their virtual stores in Decentraland…”
A proposal to integrate Metaverse pioneer Decentraland with leading e-commerce platforms such as Magento, WooCommerce, and Shopify is underway. The aim is to “offer users an immersive shopping experience that blends the convenience of online shopping with the excitement of exploring physical retail spaces.” The proposal, which closes on April 25th, appears to have heavy initial support with nearly 75% ‘yes’ votes.
On a Lighter Note
Bitcoin wallet provider Alby shares a thread on how to convert your email address into a Lightning address, just like Michael Saylor did.
Jim Cramer tweeted yesterday that the market is “Getting near being oversold!”. Be sure to scroll through and enjoy the comments Crypto Twitter dropped in.
That's it for this week's edition of 'The Cortex Connection'. We hope you found these updates informative and useful. As always, if you have any feedback or suggestions for topics you'd like to see covered in future issues, please feel free to visit our Discord channel to let us know.
Until next time!