The $1M Bitcoin Bet

All the defi, crypto, web3 news you need in one scroll

May 03, 2023

Welcome to the Crypto Scroll. Get caught up on all web3, defi, and crypto news in just one quick scroll. We do the homework so you don't have to. Powered by The Drop.

gm Scrollers,

Here’s your midweek update that includes pieces about: Former Coinbase CTO settling a $1M BTC bet, Mastercard x Polygon partnership, more web3 startup funding, United States’ issues with crypto, and FTX’s $103M bill in Q1! Enjoy the read and keep on scrolling! 🤝🏼🖤

  • TradFi banks team up to create digital bonds platform on blockchain (CD)

  • Justin Sun to reverse $56M Binance transfer (CD)

  • Mastercard teams up with Polygon to bring crypto credentials (TB)

  • Bitcoin processed 568K transactions on Sunday (BW)

  • Former Coinbase CTO, Balaji Srinivasan, burned $1M of BTC to prove a point about a ‘fiat crisis’ (DT)

  • Poloniex to pay $7.6M settlement for illegal KYC procedures between 2014-2019 (CD)

  • Fineqia is launching a crypto fund, Fineqia Glass Slipper Ventures (FGSV) focused on digital assets, also including blockchain infrastructure, gaming, metaverse, and emerging protocol plays (ALXB)

  • Crypto custodian Zodia Custody bags $36M Series A from SBI Holdings (FSME)

  • Shima Capital leads Tangem’s $8M funding round for their hardware wallet solution (AF)

  • Entrende Finance secures $4M for automated web3 accounting solution (PRN)

  • SuperDuperSecret raises $1M from Polygon Ventures, Solana Foundation and others for a battle royale game (BW)

  • House crypto regulation is weeks away (PYMNTS)

  • Congress preps bill before crypto war (PYMNTS)

  • Coinbase sued over biometric privacy violations (DECRYPT)

  • California legislations seeks legal framework for DAOs (COINMARKETCAP)

  • The White House reiterates its plans for 2024 crypto mining tax bill, DAME Tax (WH)

  • Gemini warns DCG about $630M default risk (DT)

  • Level Finance hit by smart contract vulnerability leading to 214k LVL token draining, then swapped for 3,350 BNB tokens, valued at $1.1M (BC)

  • YouTube assists in a channel recovery process to prevent $XRP scam (CN)

  • The TON Foundation, advancing The Open Network, has partnered with Chainalysis for its Crypto Incident Response Service (CIRS) (CD)

  • The How and Why of Ethereum developments (AMBCRYPTO)

  • Centralized exchanges responsible for roughly 88% of ETH withdrawals (BEINCRYPTO)

  • Vitalik slept on Ripple CTO couch while looking for an internship (U)

  • Phantom launches support for ETH and Polygon (@Phantom)

  • Digital Currency Group CFO, Michael Kraines, steps down (INFO)

  • Marvel Studios says web3 has ‘same seed’ as early Marvel days (CD)

  • Venmo is rolling out crypto to fiat onramp features (CD)

  • Visa is hiring more developers for its crypto team (BW)

  • FTX lawyers and advisers have an accounts receivable bill of $103MM for Q1 ‘23 (CT)

  • What is happening with MT. Gox (BM)

  • Ray Dalio on China-US Regulations (LINKEDIN)

  • 5 security tips crypto investors must consider (NASDAQ)

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