Mar-Apr Edition: Bitesize Crypto News
A summary of what has happened in March and April bimonth!
Welcome to another edition of Crypto Explained.
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Another 2 months have passed by, and as usual, we are bringing you a selection of relevant news.
Regulations related news
Adoption news
Ongoing development within the industry
Bonus track!
So let’s get right to it.
Chapter 1 - Regulation News
The Coinbase saga:
The SEC decided to issue a Wells notice to the leading crypto exchange signaling intent to sue over crypto offerings (read more here).
Coinbase sues SEC over months-old rulemaking petition (read more here), and responds to SEC’s Wells notice in person and on video, stating they are prepared to go to court (read more here).
And in case everything goes downhill, Coinbase ensured their License to operate in Bermuda, (read more here) - which if they really do move their operations there, will definitely be very sad for the US.
In the meantime, the SEC Chair Gary Gensler had been testifying before the House Financial Services Committee and it’s been painful to watch (read more here).
Binance also got charged: CFTC charges Binance and its founder CZ with willful evasion of Federal Law and operating an illegal digital asset derivatives exchange (read more here).
And yet, another bank just collapsed, this time the First Republic Bank collapsed, with JPMorgan ready to take over (read more here).
While the US is seemingly attacking the crypto industry, lawmakers in the European Union voted 517-38 in favor of a new crypto licensing regime, Markets in Crypto-Assets (MiCA), making it the first major jurisdiction in the world to introduce a comprehensive crypto law (read more here).
Chapter 2 - Adoption News
Google is on fire!
Google Cloud announced that it’s rolling out benefits to allow Web3 startups to apply for its Startups Cloud Program (read more here).
Google Cloud is also working with Polygon Labs to help developers make it easier to build, launch and grow their Web3 products and decentralized applications (dapps) on the Ethereum-based layer 2 blockchain via the Blockchain Node Engine - the tech giant's fully managed node hosting service (read more here).
Microsoft, the software conglomerate, has introduced an Ethereum-based cryptocurrency wallet in the testing version of its Edge web browser (read more here).
Twitter is partnering with the online trading platform eToro to provide users with real-time information about stocks and shares, cryptocurrencies, commodities, and other investments. They will also be able to click through to the eToro site from Twitter to make trades (read more here).
Mastercard launches crypto credential service for cross-border transactions (read more here).
PayPal to enable On-Chain transfers from Venmo accounts, including to On-Chain Wallets (read more here).
Nasdaq is reportedly aiming at Q2 2023 to release its custody services for Bitcoin and other cryptocurrencies.
In the meantime, MicroStrategy continues to accumulate Bitcoin: it repays Silvergate loan, reclaiming the 34K~ BTC held as collateral, and spent another $150M buying bore BTC (read more here).
Chapter 3 - Crypto Development News
Polygon is on fire:
Polygon’s highly expected zkEVM goes live on Ethereum Mainnet! (read more here).
Polygon launches Decentralized ID service powered by ZK Proofs (read more here).
And it seems that the leading Dex Uniswap is getting ready to launch on Polygon's zkEVM (read more here).
Surging user activity on Polygon in March saw the network become the second-largest blockchain gaming network in terms of unique active wallets (read more here).
Speaking of Uniswap, its mobile wallet is now live on Apple’s app store (read more here).
Ethereum scaling solution zkSync launches Alpha Mainnet (read more here).
In the meantime, Polkadot quietly registers Trademark for Blockchain Communication Platform (read more here).
Layer 1 protocol Avalanche is releasing “Evergreen Subnets” – a suite of blockchain deployments, tooling and customization services – for financial institutions (read more here).
Decentralized storage platform Filecoin has implemented its own virtual machine, enabling it to support smart contracts, and support all applications common to Ethereum-compatible blockchain platforms (read more here).
Helium finished high-profile migration to Solana (read more here).
Arbitrum launched and airdropped highly anticipated ARB tokens (read more here).
BNB Chain prepares for Planck hard fork to enhance cross-chain security (read more here).
The Cardano network has had its first oracle integrator launch (read more here).
And bonus track…
Do Kwon, the man behind the collapse of Terra LUNA and UST, was arrested in Montenegro! (read more here). Finally some justice.
And that’s it for today. Thanks for making it this far! Make sure to like, subscribe and share, so more people can find us!