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Crypto && Coffee 058 |  Bitcoin Corrects 

Technology Recap:


  • Bitcoin corrects after all-time highs.
  • Andrew Poelstra posted a partial rewrite of the BIP322 generic message signing proposal back in December. This change will allow wallets that don’t implement a complete set of checks to return an “inconclusive” state for signatures that use scripts that they don’t understand.


  • The full December 2020 progress update from David Burkett has been published. This update includes the first-ever implementation of one-sided transactions on Mimblewimble and the subsequent testing/review. LTC members have also included MWEB components to the wallet GUI.


  • Ben Edgington shared a brief 2020 round-up of ETH2 and more!
  • Ethereum Cat Herders shared their review of 2020, including ETH1.0 specification, on-chain projects, infrastructure providers, network upgrade frequency, community feedback and EIP awareness.

Other Chains:

  • Ren published their 2020 recap as well as what they have planned for 2021.
  • Fuel Labs announced that they are now officially on mainnet. Fuel is using their optimistic rollup to bring scalability to Ethereum and DApps.
  • It has now been over 100 days since the mainnet launch of Avalanche. The ecosystem continues to grow with projects and innovations from Chainlink, Polyient Games, and Binance.
  • Zora made its announcement! Zora is a protocol to create, share, and exchange universally accessible and valuable information on the Internet.
  • Ethereum Optimism shared their Year-in-Review, including their soft launch code freeze for the anticipated community release after thorough testing of Synthetix completes.
  • Zapper rolled out their 2020 recap, including all of their updates and releases per month.
  • Yam Finance shared their Yam Treasury Quarterly Update, where they looked to explore their community governed treasury.
  • Coinbase published the technical challenges and solutions involved in upgrading the USDC smart contract, a multi-billion-dollar ERC-20 token.
  • Volmex Finance announced that they will leverage Ethereum Optimism to make their protocol cheaper and faster. Layer-2 technologies like Optimism will provide DeFi users a 100x improvement in user experience.
  • Primitive Finance is now live on mainnet. Primitive is a new protocol that harnesses the power of simplicity to deliver tokenized options for any asset on Ethereum.
  • OpenBazaar shared that OBI Company will be decommissioning most of the infrastructure that powers OpenBazaar on January 15th, 2021.
  • StarkWare released their Cairo Playground! This release will allow developers to write Cairo code directly in their browser.
  • Loopring hit a new volume record. Their Ethereum-based zkRollup DEX had $5.49M in volume on January 3rd, 2021–2.5x greater than the day before.
  • Yearn Generation of Yield (YGY) announced that they have integrated with Chainlink to use their VRF features on mainnet.
  • 1inch Exchange stated that $350k in 1INCH tokens were collected from Spread Surplus. All rewards will be distributed to stakers within a week.
  • As prices rise, so do the fees. THORChain announced on January 6 that they had collected over $30k in fees and distributed $60k in block rewards over the previous 24 hours.
  • Illuvium, a decentralized NFT collection and auto battler game on Ethereum, was announced. The token genesis event will take place in late Q1 of 2021.
  • Oiler, a protocol for blockchain native derivatives, shared their view on the specific sets of properties to call instruments ‘blockchain native’.
  • MobileCoin released their first edition preview of the Mechanics of MobileCoin.
  • Zcash Foundation called for a Protocol Hangout to discuss the impact and technical needs of Halo within the ecosystem on January 14th.
  • BTSE announced Wrapped Monero, WXMR, which brings Monero to the Ethereum Network as an ERC-20, backed 1:1 by Monero and secured by BTSE.
  • Uniswap published their 2020 Year in Review!
  • Synthetix shared their Year in Review with notes on fee reclamation, sUSD Curve Pool, and overall community impact.


Mainstream Recap:

  • ShapeShift announced that it has integrated decentralized exchange protocols and is sunsetting its 6+ year business of trading with customers. As such, ShapeShift will no longer require KYC and users will no longer need to provide PII.
  • Two attack vectors have been published regarding the yCredit smart contract. These exploits have also been ported to Aave V2 and passed successfully.
  • One of the many various Parity multisig hackers from 2017 just moved ETH funds on December 27th, eventually swapping them into BTC via RenVM.
  • Coinbase called for crypto users to make their voices heard regarding the proposed regulations from the U.S. Department of Treasury that would require exchanges to collect and share personal information about you and the people with whom you transact when engaging with unhosted wallets. Many platforms and services have made their voices heard so far:
    • CipherTrace filed formal response to FinCEN proposed rule.
    • Kraken filed formal response to FinCEN proposed rule.
    • Square shared on Twitter their feelings and thoughts towards the rule.
    • Coinbase filed a formal response to FinCEN.
    • Gemini submitted their comment letter to express concern to FinCEN.
    • Andreessen Horowitz (aka a16z) opposes the rulemaking and filed as well.
    • Dr. Neha Narula of the Digital Currency Initiative submitted comments.
    • Electronic Frontier Foundation (EFF) published their concerns.
    • And so many more…
  • As privacy-focused cryptocurrencies are being delisted on various exchanges and services, Grayscale shared their Zcash Trust to help gain exposure for ZEC.
  • eToro is one of the latest exchanges to announce that they are suspending XRP trading in the US beginning January 3rd, 2021. Other exchanges include Coinbase, Binance, Bitstamp, OKCoin, Ziglu, Wirex, Bittrex, Swipe Wallet, Crosstower, Beaxy, OSL,, Jump Trading, Galaxy Digital, and Bitwise.
  • Winklevoss Capital re-shared their post on The Case for $500K Bitcoin as prices continue to soar in the new year.
  • Jameson Lopp, CTO and co-founder of Casa, shared his annual review of Bitcoin.
  • Bittrex announced that they will remove various privacy-focused cryptocurrency markets on Friday, January 15th, 2021 at 23:00 UTC. Those markets include BTC-XMR. ETH-XMR, USDT-XMR, BTC-ZEC, ETH-ZEC, USDT-ZEC, USD-ZEC, BTC-DASH, ETH-DASH, USDT-DASH, and USD-DASH.
  • In response to Bittrex’s delisting, the Electric Coin Company published their thoughts, asserting there is no public regulatory rationale for delisting Zcash.
  • Pratyush Mishra shared his recent publication, Proof-Carrying Data without Succinct Arguments, which focuses on more efficient recursive proofs with Benedikt Bünz, Alessandro Chiesa, William Lin, and Nicholas Spooner.
  • Bitwise announced on January 4th that it recently surpassed $500M in assets under management (AUM). The Bitwise 10 Crypto Index Fund, which seeks to track an index of the 10 largest crypto assets, saw the largest demand crossing over $400M in AUM.
  • The Office of the Comptroller of the Currency (OCC) released new guidance allowing federally chartered banks to use public blockchains and stablecoins as settlement infrastructure within the U.S. financial system.
  • Gemini now accepts the Singapore Dollar. Users can buy, sell, and trade crypto with SGD using a debit card or deposit SGD funds into a Gemini account.
  • Grayscale Investments, Genesis Global Trading Inc., announced that The Fund has removed XRP and and that effective January 15th, 2021, at 5pm ET, it will temporarily suspend trading for XRP.
  • CoinDesk reported that BitGo’s Ethereum-based tokenized bitcoin project, Wrapped Bitcoin (WBTC), has now expanded to its second blockchain, TRON.
  • Kraken shared that clients have staked 300,000 ETH2.0, roughly over $330M on the beacon chain thus far.


Jake’s Cup of Coffee:

This week, Jake is jumping to the virtual coffee store of Pucker Punch Coffee Roasters. This specialty coffee roaster has some bold flavors coming from their Force of Nature, a light to medium roast with notes of chocolate and cherry, with some crazy aromatics. Sip up and enjoy.

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