Together with | | GM Defiers! | Changpeng Zhou (CZ), the founder and former CEO of Binance, received a four-month prison sentence and a $50 million fine for Bank Secrecy Act violations perpetrated by Binance under his watch. The U.S. Department of Justice had sought a 36-month sentence for CZ. | The crypto markets continue to trend downward. The bearish momentum comes despite Bitcoin and Ethereum futures ETFs launching in Hong Kong, with the funds posting an underwhelming debut performance. | In other news, SynFutures v3 ranks as the top DEX by daily volume, Witness Chain attracts more than $5 billion in delegated staked Ether, and Kamino Finance's token tanks on its first day of trading. | Plus, Coinbase has launched support for the Bitcoin Layer 2, Lightning Network. | ✍️ In today's newsletter: | CZ cops four months and $50M fine Crypto market tumble to two-month low SynFutures overtakes dYdX by daily volume Restakers back Witness Chain with $5B KMNO crashes on debut Coinbase integrates Lightning Network support
| đSponsored | | đ Markets in the last 24 hrs: | TICKER | VALUE | 24 H |
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Bitcoin | $63,925 | 1.42 % | Ethereum | $3,217 | -1.29 % | Gold 1st Future | $2,345 | 0.45 % | S&P 500 | 5116.17 | 0.32 % | Arch Web3 | 2.09 | -0.28 % | Learn more about Arch Indices here. | |
| | | đŹ WATCH | Check out our podcast with Stani Kulechov, the founder of Aave, to learn more about his journey in web3. Plus, check out our video exploring how you can qualify for airdrops by playing web3 games. | | Earn Airdrops By Playing Games! |
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| | THANKING OUR NEWSLETTER SPONSORS | | NEWSLETTER CONTINUES BELOW | | | Stellar empowers builders to unlock human and economic potential. Explore the new Stellar smart contract platform, Soroban, designed for scale and sensibility. | | | Switch to Summer.fi and get curated access to top DeFi protocols, like Maker, Spark, AAVE and Morpho. Now with, Stop-Loss, advanced automation and one transaction multiply to increase exposure with ease. | | | | Changpeng Zhao, the founder of Binance, was sentenced to four months in jail and a $50 million fine by a Seattle court for Bank Secrecy Act violations perpetrated by Binance under his oversight. The sentencing follows CZ entering a guilty plea in November, while Binance paid a $4.3 billion fine. | | | Bitcoin has tumbled to its lowest level since late February, with BTC sliding below $57,000 earlier today, according to CoinGecko. The bearish move follows the launch of Bitcoin and Ethereum futures ETFs in Hong Kong, with the six funds hosting just $11 million in volume on their opening day of trade. | | | SynFutures v3, a Blast-based perpetuals DEX, has emerged as the top decentralized exchange by daily volume with nearly $1.5 billion, overtaking dYdX and Uniswap. The surging activity follows the launch of a points campaign in March and comes despite the exchange hosting just $50.5 million TVL. | | |
| | | Are you looking for your next 10X? Then don't miss Consensus 2024 – your exclusive pass to cutting-edge alpha. From humble beginnings during Bitcoin's infancy to now welcoming 15,000+ attendees from 100+ countries, Consensus is the biggest and most established global hub for all things crypto, blockchain and Web3. Celebrating its tenth year, Consensus offers an unrivaled, forward-looking perspective on the future of finance, encompassing digital assets, tokenization, blockchain technology, regulation and policy, startups and beyond. | Meet with investors, builders, founders, creators, developers and brands looking to shape the narrative of the digital revolution. Mark your calendar for May 29-31 in Austin, Texas and don't miss this landmark occasion celebrating a decade of decentralizing the future. | Save 15% with code DEFIANT | READ MORE: Celebrating 10 years of decentralizing the future through discovery, dialogue and dealmaking |
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| | | Witness Chain is now the third-largest Actively Validated Service on EigenLayer after attracting more than $5.2 billion worth of delegated ETH from restakers. Witness Chain seeks to facilitate the emergence of a unified DePIN ecosystem comprising an end-to-end supply chain of decentralized physical infrastructure. | | | KMNO, the native token of Kamino Finance, the top lending protocol on Solana, suffered a brutal debut day of trading. KMNO has crashed more than 65% since trading began to last change hands for less than $0.042. | | | Coinbase users can now use the Bitcoin Layer 2, Lightning Network, following a partnership between the leading U.S. centralized exchange and Lightningspark, a firm providing infrastructure for Lightning payments. Lightning Network transaction fees are currently more than 97% cheaper than transacting on Bitcoin. | | đ ELSEWHERE | BlackRock leads $47 million round for Securitize: 'Another step in the evolution of our digital assets strategy' (Fortune) Roger Ver, early Bitcoin booster, arrested for tax evasion (Axios) US lawmakers introduce bill to clarify taxation of staking rewards (The Block)
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