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Crypto && Coffee 139

Technology Recap:


  • Greg Sanders posted to the Bitcoin-Dev mailing list a description for how the proposed v3 transaction relay rules could potentially allow one to create a coinjoin-style multi-party transaction that would not be vulnerable to transaction pinning.
  • Lightning Labs shares a detailed post on how Lightning channels work and how nodes interact with Hash Time Locked Contracts (HTLCs).


  • On June 23rd, 2023, we surpassed 20M ETH staked on Ethereum. As of today’s prices that is ~$36B in USD.
  • Tim Beiko hints at Ethereum being the pioneer to push forward on financial privacy and the adoption of proper stealth addresses.
  • Check out the latest from the most recent Ethereum All Core Devs Execution Call. The call focused on EIP-4844, devnets, and moving ERCs to a new repository.

Other Chains: 

  • Circle announces that the Cross-Chain Transfer Protocol (CCTP) is now live on Arbitrum. This enables direct to-and-from transfers from Ethereum and Avalanche.
  • StarkWare announces StarkExpress. StarkExpress is a B2B SaaS platform that leverages STARK technology to provide a scalable, non-custodial solution for businesses that want to interoperate Web2 and Web3.
  • Similar to Ordinal Inscriptions on Bitcoin, there is now Ethscriptions which has spiked recently over the past week. View this thread to learn more.
  • Uniswap Labs shares Uniswap v3 Math Part 2 which touches on virtual liquidity, how to calculate LP holdings, and calculating uncollected fees in a position.
  • MobileCoin states that they have been actively engaging with Binance regarding the delisting of MOB in four EU geographies.
  • Tezos’ Nairobi upgrade will bring prominent enhancements to their network including 8x TPS (transactions per second), faster consensus, and Smart Rollups.
  • New research on blockchain privacy and stealth addresses is published with input and collaboration from Vitalik Buterin.
  • Breez, an interface to the Bitcoin Lightning network, shares the features of their SDK with focus on multi-app support, multi-device support, fiat on/off ramps, LNURL functionality, and more!
  • Ryan Smith introduces Index Supply which is being funded by 0xPARC and aims to focus on Ethereum node setup and maintenance through a consulting service.
  • Chainlink Data Feeds are now live on Celo.

Hacks | Vulnerabilities | Exploits:

  • Themis Protocol was exploited on June 27th, 2023 on Arbitrum for ~$370K. The exploit was issued via a flashloan attack which succeeded due to an inaccurate Balancer LP token price oracle.

Mainstream Recap:

  • Fidelity is expected to file with the U.S. Securities and Exchange Commission for a spot bitcoin ETF, joining other big money managers.
  • In the past two weeks, BlackRock, WisdomTree, Invesco, VanEck, and Bitwise have filed new applications for spot bitcoin ETFs.
  • Project Mariana is announced as the first BIS (Bank of International Settlements) Innovation Hub cross-centre project focused on wholesale CBDCs, which brought together the Bank of France, Monetary Authority of Singapore, and Swiss National Bank. The project expands on previous wholesale CBDC work with focus on DeFi.
  • Ark Invest states that BlackRock’s filing for a spot bitcoin ETF could be a significant turning point for Bitcoin.
  • Mastercard is piloting tokenized bank deposits in the UK through the Multi-Token Network (MTN).
  • HSBC Hong Kong now lets customers trade Bitcoin and Ether ETFs.
  • Binance’s current EUR banking partner, Paysafe Payment Solutions Limited, will stop supporting the crypto exchange after September 25th, 2023.
  • CoinDesk reports that a recent research paper from Bernstein stated that about 2% of global money supply, via stablecoins and CBDCs, could be tokenized over the next five years. This would be roughly $3 trillion dollars.
  • Gemini announces that StakingPro is now available to users in the UK. Staking Pro is built for institutions and customers with at least 32 Ether.
  • Fortune touches on the history of zero-knowledge proofs and their advancement through crypto.
  • The Canadian House of Commons Parliamentary Standing Committee on Industry and Technology (INDU) published a comprehensive report that delves into the intricacies of blockchain technology and crypto use in Canada.
  • MicroStrategy buys another 12,333 bitcoins for ~$347M at an average price of $28,136 per bitcoin. As of June 27th, 2023 MicroStrategy now holds 152,333 BTC acquired for ~$4.52B at an average price of ~$29,668 per bitcoin.
  • Warner Music Group and Polygon Labs partner to fund Web3 music projects through a new accelerator program.
  • Jayson Hobby becomes CEO of Compound Labs.

This Week’s Cup of Coffee:

This week, we are headed to Portland, OR for a cup of single origin Andino, Peru from Upper Left Roasters. This roast yields flavors of chocolate and hazelnut with a slight hint of plum at the finish. Recommended to be brewed via drip or french press, this is a solid coffee to kick start the day!!

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