What are VASPs and should we be worried about them?
You see, if you thought that just because you’re “decentralized” the regulators can’t touch you, well you might have to think again. There’s new guidance and the implications are startling. A big conversation about a big topic with Joseph Weinberg of Shyft Network
Bobby Leshner came out swinging a few days back after a nasty bug was introduced via an update to the Compound smart contracts. Banteg called it the best kept secret in DeFi. Except. It ain’t a secret anymore, it’s out in the open and millions of dollars worth of tokens have been… ahem redirected. To the extent that this might well have been the largest loss of funds due to smart contract vulnerability.
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Links
https://twitter.com/rleshner/status/1443730726751506432?s=2
https://twitter.com/bantg/status/1444685796632670213?s=20
https://compound.finance/governance/proposals/62
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Only three days into the new year, we had an admission of guilt. No, not from Sam Bankman-Fried — he pleaded not guilty at a federal courthouse in Manhattan yesterday.
No, it was another crypto entrepreneur who made off with millions in customer [?] money. But the case has a couple of parallels with SBF’s — we’ll give you a quick rundown of what allegedly happened there, as well as news out of the World Economic Forum and the liquid staking industry.
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https://www.youtube.com/watch?v=YSO10D6WLfU
While everyone was busy arranging dates for the fight in Dubai and investigating who scammed who with pokemon cards, Vitalik Buterin was on Ethereum Research Forum quietly publishing an entry titled “EVM optimistic rollup using Truebit”. In this video we take a closer look at Vitalik's post and Truebit's recent soft launch.
Links
https://ethresear.ch/t/evm-optimistic-rollup-using-truebit/9318
https://twitter.com/VitalikButerin/status/1046190960093343751
https://www.reddit.com/r/CryptoCurrency/comments/n3eib4/truebit_apparently_did_a_stealth_launch_its/
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https://www.youtube.com/watch?v=zbM89A-AMLk
In this week’s episode we speak with Tim Beiko, who organizes the Ethereum core developers calls and knows all the intricacies and latest development of the world’s most active blockchain. We spoke right after Beiko had proposed a date for the implementation of one of the biggest changes expected to happen to the Ethereum blockchain in recent history EIP 1559. If you’re not 100% clear on what this means, fear not, because Tim explains in non-dev terms exactly how this change will reduce volatility in Ethereum gas prices and also reduce the uncertainty of whether user transactions are approved or not. Importantly, it also means that part of ETH paid per transaction will be burned. That means that if demand for ETH and use of the Ethereum blockchain are greater than ETH issued, it should put pressure on the ether price to increase.
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This is Crypto With Cami, a show where we go through all the major news in DeFi and Web3 in 30 minutes or less.
This week's headlines
0:00 Hot Take
0:35 Agenda
1:21 EigenLayer Removing Caps
3:13 What is Restaking?
7:54 How EigenLayer Works
12:52 EigenLayer Risks
14:42 SEC vs DeFi
17:15 Mountain Protocol
18:40 Ondo Finance on Sui
19:00 ERC-404
20:15 Morpheus AI
21:25 Wormhole Token
21:50 Pyth Airdrop
22:21 Dymension Launch
23:06 Frax L2
23:24 Farcaster Memecoins
24:00 Solana Outage
25:14 Metamask Robinhood Integration
25:29 ENS x GoDaddy
26:00 Dencun Upgrade
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https://www.youtube.com/watch?v=u1w7glRBe0Y
In this week’s episode, I interview Jaime Rogozinski, founder of Wall Street Bets, the famous Reddit trading group which earlier this year organized to push up the price of heavily shorted stocks like Gamestop and AMC to create a short squeeze, which had the double benefit of amplifying the group’s gains and screwing over big hedge funds. Jaime goes over what led him to create the subreddit back in 2012 and how it grew into several thousands and then millions of members. He started Wall Street Bets to make money, but also because he believed the financial system was broken and so-called retail traders should have a chance against the big guys. A lot of those sentiments mirror ideals that fuel the cryptocurrency community and so it’s only natural that after his exit from Wallet Street Bets, he has found his way into crypto. Thanking our sponsors:
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The DeFi Pulse Index, by Index Coop - DPI is the easiest way to capture the upside of DeFi with the benefit of diversification.
Buy DPI today on your favorite DEX.
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https://www.youtube.com/watch?v=zk-Z8WcGgJc
Today we’re blitzing through the Bitzlato story. A Moscow headquartered, Hong Kong registered crypto exchange which nobody seemed to know about until yesterday, when the founder was arrested by US authorities in Miami for allegedly laundering $700m worth of crypto.
Much of this story was a complete mystery until recently, so let's dive in and figure out which agencies were involved in the arrest and how significant this really is.
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Nick Duddy: https://twitter.com/nickduddy
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https://www.youtube.com/watch?v=nc_Blfra1CQ
Lucas Vogelsang is the founder of Centrifuge, a credit platform that brings Real World Assets onchain. Real World Assets (RWAs) have been a growing sector in DeFi over the last year. In our conversation we’ll talk about how RWAs bridge the gap between tradfi and DeFi, how the process of beginning on institutional lenders and matching with real life borrowers works, what protections are in place in case of loan defaults, and what the future looks like for this sector. But first, Lucas will provide an overview of Centrifuge.
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...
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