June 2, 2021       /       Unchained Day after day       /       Laura Shin

Day after day Bits ✍️✍️✍️

  • Sotheby’s to host an NFT auction alongside with the ‘first’ NFT ever minted

  • Union Square Ventures has invested in crypto publisher Replicate at a $100M valuation

  • JP Morgan analyst believes BTC payment would possibly maybe presumably decline even further

  • Ethereum on-chain quantity and miner revenue hit an ATH in Would possibly maybe presumably

  • Coinbase’s debit card now syncs with Apple pay

  • Dogecoin is now listed on Coinbase Real

  • DeFi protocols produced $370M in revenue last month

  • dYdX hit $2 billion in total quantity on its layer 2 protocol

What Invent You Meme?

Unchained Venture → ship for your simplest meme that explains a sizzling topic in crypto. It’s possible you’ll presumably maybe both tweet @Unchained_pod or ship an electronic mail over to [email protected]!

The most productive three submissions will most likely be showcased in the What Invent You Meme part sometime later this week or earlier next week, alongside with a shoutout to your Twitter profile.

Example:

Screen Shot 2021 06 01 at 1.04.56 PM

What’s Poppin’?

Would possibly maybe presumably turn out to be a busy month, a truly busy month. Here is your 600-observe recap:

Week 1 (Would possibly maybe presumably 1st – Would possibly maybe presumably Seventh)

Gigantic Account →  Fintech company FIS offered a partnership with digital asset manager NYDIG to conclude in an alternate first: clients at a complete bunch of US banks will most likely be in a local to aquire, HODL, or promote Bitcoin straight within their checking fable — with out having to battle via an replace, fancy Coinbase, or a value application, equivalent to PayPal.

Superlatives:

  • Bitcoin’s Taproot substitute started its fleet trial

  • Ethereum raced previous $3k whereas Ethereum Classic hit $150

  • Uniswap, the final observe decentralized replace by buying and selling quantity, officially offered the begin of its model 3

  • Dogecoin hit 69 cents

  • Mike Novogratz’s Galaxy Digital offered its acquisition of BitGo for $1.2 billion in cash and stock

  • A federal court in California is authorizing the IRS to originate the identities of any one who has traded $20,000+ on cryptocurrency replace Kraken

Week 2 (Would possibly maybe presumably eighth-14th)

Gigantic Account →  Tesla CEO Elon Musk mentioned that Tesla is suspending the aquire of vehicles with Bitcoin, citing area over the “impulsively rising insist of fossil fuels for Bitcoin mining and transactions.”

The announcement straight sent the price of BTC plunging — because, you know, sooooo worthy of the Bitcoin transaction insist turn out to be of us spending their BTC on Teslas.

Superlatives:

  • Vitalik proposed that UNI change into an oracle token

  • EBay launched an NFT platform

  • Tether, for the first time since 2014, printed the breakdown of its reserves

  • Bloomberg reported that Binance is below investigation by the DOJ and IRS

  • Shiba Inu and other memecoins took a hit attributable to Vitalik’s charitable donations

Week 3 (Would possibly maybe presumably 15th-twenty first)

Gigantic Account → Bitcoin and Ethereum lost 30% and 40% of their payment, respectively, in a single day. The stress of the dip resulted in Coinbase reporting “intermittent downtime” for clients attempting to aquire cryptos on sale. Binance turn out to be also disrupted, as the replace stopped Ethereum-linked token withdrawals from its platform.

Files from CoinMarketCap shows that the total cryptocurrency market capitalization turn out to be down 15%+ over week three, declining from $2.2 trillion to $1.8.

Superlatives:

  • SushiSwap reported its very best buying and selling quantity ever in a 24h period

  • Elon (erroneously) hinted that Tesla had sold more BTC

  • Acting OCC Head Michael Hsu offered his wish for the OCC, Federal Reserve, and FDIC to invent an “interagency speed group” to handle crypto

  • US Congressman Tom Emmer sent a letter to FASB urging roam accounting standards for digital currencies

  • Wells Fargo offered that this could presumably soon introduce an actively managed crypto strategy

  • Bitcoin hash rate fell nearly 20% as miners in China’s Sichuan space confronted rapid vitality obstacles

  • In China, three self-regulatory our bodies collectively printed a inform reiterating a previous ban on monetary and cost institutions from offering services and products linked to cryptocurrency transactions and initial coin offerings.

Week 4+ (Would possibly maybe presumably twenty second-Would possibly maybe presumably thirty first)

Gigantic Account →  Elon Musk took to Twitter once again with some excellent news for the Bitcoin neighborhood, tweeting, “Spoke with North American Bitcoin miners. They committed to post contemporary & deliberate renewable utilization & to test miners WW to carry out so. Doubtlessly promising.”

MicroStrategy CEO Michael Saylor offered further context to Musk’s doubtlessly promising dialog, announcing that he [Saylor] had, if truth be told, hosted the assembly between Elon and some excessive-profile North American miners, forming what Saylor named the Bitcoin Mining Council.

Superlatives:

  • Shark Tank “shark” Designate Cuban confirmed his funding in Polygon

  • GameStop offered it’s building an NFT group.

  • Mammoth Bitcoin holders scooped up 77,000 BTC at some point soon of week 3’s market correction.

  • 1confirmation raised $125 million for its third fund

  • Ray Dalio owns “some bitcoin” and would “rather have bitcoin than a bond.”

  • Carl Icahn is focused on a basic funding in crypto

  • Circle offered a $440 million elevate led by Constancy, FTX, and DCG

  • The US Treasury is proposing expanded crypto reporting to fight tax evasion

  • An announcement summarizing Affirm Council assembly in China mentioned: “Shall we aloof crack down on bitcoin mining and buying and selling actions and stop particular person risks from being handed to the total society.”

Advised Reads

  • Bitcoin is Batman… 😂:

Screen Shot 2021 06 01 at 1.41.32 PM

  • Glassnode broke down the last week of insist on-chain:

Screen Shot 2021 06 01 at 1.44.56 PM

  • Parker Lewis on why Bitcoin would possibly maybe presumably make all other cash stale (an oldie however a goodie):

Screen Shot 2021 06 01 at 1.48.32 PM

On The Pod…

June 14th is the 5-365 days anniversary of Unchained. 🎉

On Tuesday, June 15th, we’ll post a 5-365 days anniversary episode with questions or messages from you listeners to me.

Must you fancy to need to have your demand or message integrated:
  • file a video or audio message of 60 seconds or much less stating your name, where you’re from and your demand or message.
  • electronic mail it to [email protected] with “anniversary” in the topic line (or correct reply to this electronic mail)!
It’s possible you’ll presumably maybe also additionally electronic mail a requirement, and I could read it on the air. If that’s the case, please let me know the way you’d fancy to be identified. (And let me know systems to converse your name.)

The time limit to receive your submissions in is Thursday, June 10 by 5 pm ET/2 pm PT.

Thanks so worthy for supporting Unchained all these years! 🙏

Test out the most contemporary episode of Unchained:

Slash Tomaino on 1confirmation’s $125 Million Fund and What Future NFTs Will Detect Love

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Slash Tomaino, traditional accomplice of 1confirmation, discusses his company’s honest honest recently offered third fund of $125 million and provides his standpoint on many sizzling crypto issues, equivalent to NFTs, Layer 2 recommendations, Polkadot, DAOs, and more. Show highlights:

  • why Slash modified into attracted to crypto and his background
  • what drives 1confirmation’s funding thesis
  • why Slash believes NFTs have taken off in popularity this 365 days
  • why NFTs are at inform in a bubble
  • what we would possibly maybe presumably even accomplish with NFTs in the smash
  • how competitors between diversified NFT marketplaces will shake out
  • how music NFTs would possibly maybe presumably work
  • the feasibility of charging royalties in the secondary sale of NFTs
  • why environmental concerns over crypto mining to simplest be a short-time period area
  • why Slash is no longer an Ethereum maxi and how he feels about the fragmentation of Layer 2 recommendations on ETH
  • why Polkadot is this form of thrilling venture
  • whether, as an early Coinbase employee, he would voice the chunky protocols thesis is correct
  • what new vogue Slash is keeping an ogle on for 2021 and previous

E book Update

My e book, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Gigantic Cryptocurrency Craze, is now available for pre-recount now.

The e book, which is all about Ethereum and the 2017 ICO mania, comes out Nov. 2nd. Pre-recount it this day!

It’s possible you’ll presumably maybe aquire it here: http://bit.ly/cryptopians