ALSO: Mango Markets exploiter returns $67M, Flashbots/MEV raise Ethereum centralization concerns and more |
The biggest crypto news and ideas of the day |
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Hello and welcome to The Node. This is Daniel Kuhn and Xinyi Luo, here to take you through the latest in crypto news and why it matters. In today's newsletter: If you were forwarded this newsletter and want to subscribe, sign up here. And click here to unsubscribe. – D.K. |
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Mastercard Joins With Paxos to Help Banks Offer Crypto Trading: Mastercard partnered with crypto trading platform Paxos to help financial institutions offer cryptocurrency trading. The payments giant will verify transactions and help banks follow compliance rules. $114M Mango Markets Exploiter Outs Himself, Returns Most of the Money: Avraham Eisenberg, a self-described "digital art dealer" once accused of embezzling $14 million from a DAO treasury he managed, has claimed partial responsibility for the $114 million Mango Markets exploit last week. He returned $67 million to the Solana-based decentralized exchange on Saturday, following a community investigation. - Mango Markets tweeted that its DAO would vote in the coming days to decide how to divvy up the returned funds.
Censored Ethereum Blocks Hit the 51% Threshold Over a 24 Hour Period: 51% of Ethereum blocks produced last Friday followed the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) compliance recommendations, meaning the majority of new blocks screened out transactions associated with sanctioned protocol Tornado Cash. - Flashbots, a service provider for "maximal extractable value" (MEV), a way to arbitrage or front-run block production, will comply with OFAC sanctions raising concerns over "base layer centralization" on Ethereum due to its increasing popularity.
- Meanwhile, Bitcoin failed to produce a block for 1 hour Monday, leaving more than 13,000 transactions pending, which is not altogether unheard of but is less common nowadays.
– D.K. and Xinyi Luo |
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Putting the news into perspective |
Displate is the leading marketplace for unique metal posters. So far, we have sold over 5 million posters all over the world – our main markets are the US, UK, France, and Germany. By working with over 40 thousand artists, Displate offers access to 1.5 million works, and among them you will find many official designs created in cooperation with our partner brands such as Star Wars, DC Comics, The Witcher, Cyberpunk 2077, Marvel, Netflix, and many more. |
SocialGood App - Handing Out $100s: The Ambition of a Shop-to-Earn App's Founder* How is the SocialGood App able to offer 100% back to shoppers? Why would they offer such a high reward rate when they could easily offer lower cashback percentages like their competitors? Is there any economic rationale for this business model? To answer these questions, we spoke with Soichiro Takaoka, the founder and CEO of the company that runs the SocialGood App, SocialGood Foundation Inc. Read the full interview here *This is sponsored content from SocialGood. |
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Overheard on CoinDesk TV... |
"We are on track to have the biggest year ever for hacking." – Chainalysis Director of Research Kimberly Grauer, on CoinDesk TV's "First Mover" |
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Metaverse Platforms Set the Record Straight About Daily Active Users (Blockworks) 'We've Got To Fight Until The Entirety of Ethereum Gets Burned Down' (The Defiant) NFT Bargain-Hunting Is in as Crypto Bust Craters Prices (Bloomberg - paywalled) A Crypto Alchemist Made Me an Accidental Billionaire (WIRED)
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