🏴 Bitcoin is Halved

Weekly Recap: Halving happened, Mango exploiter found guilty.

Bitcoin is Halved Published on Apr 20, 2024 View in Browser gm Bankless Nation, Bitcoin did the thing! The Halving unsurprisingly went off without a hitch; what happens next is the hard part. Today's Issue ⬇️ 📊 Week in Markets: Derisking Traders unload risky assets. 🗞️ Recap: Bitcoin + Runes What went down for BTC this week. 🎧 Rollup: It's Finally Here Bitcoin's block rewards get halved. 🕰️ Catch Up: What We Published Safety Checkup. SocialFi Resurrection. p.s. Join Bankless! We're hiring a Sr. Product Designer. Sponsor: Cartesi — Build app-specific rollups with Web2 tooling without the constraints of Web3! Visit cartesi.io to Learn More .  .  . THIS WEEK IN MARKETS Risky Bets Get Hammered 📊 Downside Deluge. Risk assets got hammered this week, experiencing unprecedented levels of selling, the likes of which had yet to be seen in 2024. What happened in markets this week? Read Full Free Market Analysis .  .  . WEEKLY RECAP BTC is Halved 1️⃣ Bitcoin's Halving & Rune Launch Last night, Bitcoin’s fourth-ever halving went live, bringing Runes along with it! These new fungible tokens, created by Ordinals inventor Casey Rodarmor, have generated a lot of excitement and stand poised to accelerate DeFi and NFTs for Bitcoin. Built for degens, plenty of opportunities exist around Runes, from owning tokens like PUPS and WZRD to NFTs like Bitcoin Puppets and Runestones. Learn more about Runes here.  2️⃣ Whales Buy Amid Geopolitical Tension Bitcoin had a rocky week, dipping down and even momentarily breaking $60K multiple times amid hawkish comments from the Fed and the tense standoff between Iran and Israel. Whales were not bothered, though. Data shows that hodlers with at least 0.1% of supply stepped and bought the dip, adding 19,760 BTC (>$1.2B) to their holdings during the volatility. David Han of Coinbase Institutional notes, "While sellers appear to be derisking, there's also opportunistic buying between $60K-62K," highlighting Bitcoin's unique, dual role as both a risk-on and safe-haven asset. 3️⃣ Mango Markets Exploiter Found Guilty A jury found crypto trader Avraham Eisenberg, who exploited Mango Markets in Oct 2022, guilty on charges of commodities fraud, manipulation, and wire fraud. Eisenberg faces up to 20 years in prison. Eisenberg is the second hacker convicted within a week, with former Amazon Engineer Shakeeb Ahmed sentenced to 3 years for his $12M exploit of Crema Finance. 4️⃣ New Chains on the Block Worldcoin’s World Chain L2 will launch this summer. It comes integrated with WLD’s identity protocol and is designed to streamline DeFi and identity verification applications by prioritizing transactions from World ID-verified users. OKX's X Layer arrived as a ZK L2 built on Polygon. Using OKB, OKX’s token, to pay transactions, OKX looks to bring its 50 million users onchain while maintaining security via Ethereum. EY’s OpsChain Contract Manager will use ZK on Ethereum to manage enterprise contracts. Their announcement specifically cites public blockchains’ security, privacy, and cost reduction as clear benefits.  5️⃣ Binance Converts SAFU Fund This week’s turbulence seemed to spook Binance, who converted all assets in its Secure Asset Fund for Users (SAFU) — totaling $1B — into USDC. Once essentially living outside of the law, the DOJ-hampered Binance has changed tunes recently, snapping into the role of impeccable rule-follower. FRIEND & SPONSOR: CARTESI Cartesi has a challenge for all talented devs! Try to hack their Honeypot dApp. Compete in a bug-bounty initiative to test, scrutinize, and refine the underlying code of Cartesi Rollups! Visit cartesi.io to Learn More .  .  . WEEKLY ROLLUP It's Finally Here The fourth-ever Bitcoin Halving has passed, now what's next for BTC? In today's Weekly Rollup, Ryan and David unpack the Halving and it's impact. They also talk about Worldcoin's new blockchain and the latest happenings in the world of ETFs. Hear their thoughts 👇 Watch the Full Episode .  .  . GET CAUGHT UP What We Published 📰 Articles: Solana’s Promising AI Plays on Bankless Solana AI projects to watch as io.net’s launch draws near. Bankless •David C Your Crypto Bull Run Safety Checkup on Bankless When prices move higher, your guard needs to go up, too. Bankless •Guest Author Bitcoin Ordinals versus NFTs on Bankless It’s time to break down the pros and cons of Ordinals & NFTs. Bankless •William M. Peaster SocialFi’s Second Coming with Friend.Tech v2 on Bankless Friend.Tech v2 and redefining crypto’s Social + DeFi trend. Bankless •David C 📺 Shows: Your Guide to the Bull Run | Raoul Pal on Bankless Bull Market Mastery Bankless The Unified Architecture of Ethereum | DH + RSA on Bankless Davids Takes on His New Article Bankless Runes: Tokens on Bitcoin | Casey Rodamor on Bankless His idea will change Bitcoin forever Bankless .  .  . GO BANKLESS Don't Miss Another Airdrop! Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's recent airdrop. Did you miss out again? Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 80 other crypto protocols in Airdrop Hunter waiting for you. Upgrade Your Account Manage your account Not financial or tax advice. Bankless content is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research. Disclosure. 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