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Crypto && Coffee 148

Top Story:

  • The U.S. Securities & Exchange Commission (SEC) approved all 11 spot Bitcoin ETFs yesterday January 10th, 2024! As of today, January 11th, 2024 the ETFs are trading with surpassing $1.2B in trading volume just in the first 30 min.

Technology Recap:

Bitcoin:

  • Antoine Poinsot posted to Delving Bitcoin further details around v3 transaction relay policy and ephemeral anchors. These would go hand-in-hand with how Lightning Network allows on-chain transactions to pay fees exogenously.

Ethereum:

  • On January 17th, 2024 at 06:32 UTC Dencun will go live on Goerli testnet. This will be the last upgrade on Goerli before core teams stop supporting it. Assuming the upgrade goes well, the Sepolia and Holesky testnets will be next in the coming weeks.
  • Vitalik Buterin posted support for an immediate 33% gas limit increase on Ethereum.
  • The Ethereum Foundation research team hosted a Reddit AMA on January 10th, 2024. A lot of the discussion was around EIP-4844 and gas limits.
  • Trenton Van Epps shares Capital and Enclosure in Software Commons: Linux & Ethereum.
  • Paradigm releases reth alpha.14! This release includes hardcoded timestamps for the Ethereum testnet hardforks for Dencun.

Other Chains: 

  • Base shares their 2024 vision to build a global on-chain economy.
  • Offchain Labs publishes what new upgrades are in development for Arbitrum One and Nova.
  • Uniswap shares EIP-6963 support by allowing users a communication channel between wallets and apps.
  • Keep3r network publishes an update on evolving the Keep3r network and utilization across network incentives.
  • BracketX introduces Passage, an all-new volatility market to play short-term price action.
  • A researcher dives into the architecture of upgradable contracts and the use of the Proxy pattern.
  • C3 launches a public mainnet and invites users to join the future of trading through a self-custodial trading experience.
  • To ensure clear distinctions between Aleo and AleoSwap, the team has transformed and rebranded AleoSwap to AlphaSwap.
  • Synthetix launches on Base!
  • Uniswap’s 30-day volume on Arbitrum hit $12.03B as compared to ~$3B on Polygon.
  • Morpho Blue is now live on mainnet! Morpho Blue allows users to lend and borrow on Ethereum.

Hacks | Vulnerabilities | Exploits:

  • De.Fi Rekt reports crypto loss ~$1.95B in 2023.
  • Scam Sniffer shares that crypto phishing scams drained ~$300M from 320,000 users in 2023.
  • On December 25th, 2023 Telcoin was exploited on Polygon for ~$1.25M due to an uninitialized contract.
  • On December 26, 2023 Levana was exploited on Cosmos for ~1.14M due to price oracle manipulation. The exploit lasted for 12 days by draining roughly 4% of Levana liquidity.
  • On December 26, 2023 Thunder Terminal was compromised after leaking their session tokens which resulted in a loss of $250K on Ethereum.
  • On December 28th, 2023 INSC NFT was compromised via access control rights which resulted in their assets being stolen on Ethereum.
  • On December 30th, 2023 Channels Finance was exploited for $320K on BSC due to price oracle manipulation.

Mainstream Recap:

  • VanEck shares a new advertisement on how users can now buy and hodl Bitcoin via their ETF.
  • Circle Internet Financial, the company behind USDC, filed for a U.S. IPO on Thursday, January 11th, 2024.
  • Coinbase releases their Q1 2024 Guide to Crypto Markets in collaboration with Glassnode.
  • Gemini shares thoughts on being the custodian of VanEck’s newly launched spot bitcoin ETF.
  • Polygon announces Verify, by Fox Corporation built on Polygon PoS. Verify allows media companies to register content and grant usage rights. With this, users can verify the origin of a piece of content through the open protocol.

This Week’s Cup of Coffee:

This week, we are headed to Rotterdam, NL for a cup of Ethiopia – Enat Buna from A Matter of Concrete. This roast can be brewed both as espresso or filter with different tasting notes depending on the brew. For espresso it will yield notes of orange, gingerbread and spices while via filter you will get more strawberry and fig notes. Sip up and enjoy!!

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