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- 🦧 $ARB airdrop, here's what happened
🦧 $ARB airdrop, here's what happened
Plus Justin Sun vs Jake Paul, the SEC vs Coinbase and 9 major updates
ARB you having the time of your life?!
Ok ok, warning now… there are likely to be some ARB jokes in today’s newsletter because the excitement is still real as we look at how it went.
Bitcoin is still sitting comfy at $28,000, Ethereum is trying to decide if it wants to break towards $2,000 before the Shanghai upgrade and the SEC is still set out on spreading FUD across the entire crypto space.
Shout out to this blocmates community legend 👇
Here's what's inside today.
The big topics.
🔥 $ARB Airdrop = Free Money🔥 SEC vs Coinbase round 2🔥 Do Kwon BUSTED!
DeFi insights & project updates.
🖼 CathartesNFT official minting April 3rd & 4th📅 Vertex Protocol’s private beta🦧 Chart of the day, $ARB… back to $4.7?
Hot off the press.
🐮 Radix secures $10m fresh funding in a bear market🐻 Justin Sun vs SEC, alleged market manipulation👨🏻💼 What the FED?! Mark these dates
Plus Twitter Reads from @DCBExperience, @DigitsCapital and @0xkhan_!
🔥 The big topics.
🔥 Arbitrum Airdrop
TLDR: Really? You need a TLDR?! Ok, ok…
What happened? The most historical day in all of crypto happened, that's what… ARBy Day, baby! We saw 1,162,166,000 tokens gifted to ecosystem users, farmers and sybilers totalling close to $1.7bn (at the current price $1.5).
$ARB token launched which;
Crashed the network only to;
Force people into diamond handing whilst;
The lucky few dumped from the highs of $4.7 and now;
We wait to see the next move of the DAOs.
As the price tanked to the lows of $1, whales scooped up huge bags to create liquidity pools earning themselves over $500k in trading fees.
99 early winners
Oh and this guy who may have just managed to sell the peako top
1/ $ARB Top Seller
An unusual transaction was spotted in the ARB/USDC Uniswap pool by 0x88e6.
This wallet triggered the sale of 6250 $ARB tokens at a price of $10.27, resulting in a total profit of $64,187 and setting a record for the highest $ARB selling price.
— An Ape's Prologue (@apes_prologue)
Mar 23, 2023
Why it matters: Because we can now be at peace. That “wen airdrop?!” has finally been completed! phew
Are you prepared for a new era of Arbitrum, anon?
Arbitrum Orbit gives devs the opportunity to build a layer 3 network on top of Arbitrum.
DAO Governance makes Arbitrum the first EVM chain to reach stage 2 of becoming fully decentralized as the power for change is in OUR hands.
Turbo Boosting Growth by injecting a serious amount of free liquidity into the ecosystem along with top-tier projects flooding over to capture a percentage of it. Oh, and the micrcap space… that's probably going to help.
Is Arbitrum a future top-10 coin?!
First Polgyon then Cardano
PS. Do these last 25% of people not know what day it was?!
🏦 The SEC vs Coinbase
TLDR: SEC Chair Gary Gensler wants to be in charge and he isn’t happy.
He also clearly didn’t get the memo about the Aribtrum airdrop!
What happened? The SEC served Coinbase with a ‘Wells notice’ due to the identification of potential violations of the U.S. securities law. AKA we don’t like your staking services!
This is a strange move by the SEC as Coinbase is the poster boy for compliance and wants to achieve smart regulation and a rule book everyone can work towards. I mean check it, the SEC even reviewed Coinbase before it went public after mentioning staking 57 times!
2/ Two years ago the SEC reviewed our business in detail and approved Coinbase to go public. Our S1 clearly explained our asset listing process and included 57 references to staking. Coinbase runs a rigorous asset review process and has rejected more than 90% of assets that have… twitter.com/i/web/status/1…
— Brian Armstrong (@brian_armstrong)
Mar 22, 2023
You’ll remember that the SEC previously came after Coinbase for “security violations” about its Ethereum staking back in February.
According to Chief Legal Officer Paul Grewal, who mentioned that the SEC and Coinbase had been in talks to “build a path of registration,” this wells notice seemingly came out of nowhere blindsiding them.
Over the past 9 months, CB has met with the SEC more than 30 times, sharing details of our business to build a path to registration. During this time, the SEC hasn't given basically 0 feedback on what to change, or how to register. Instead, today we received a Wells notice. 2/15
— paulgrewal.eth (@iampaulgrewal)
Mar 22, 2023
It makes you think, how can crypto exchanges and projects comply with a rule book that officials are reluctant to write despite touting “regulations are needed!”
It’s now Coinbases turn to have the spotlight as they fight this head-on while Gary Gensler fails to be the big daddy dawwwwg.
Why it matters: This is net positive for crypto and Coinbase as it is their time to shine and become the hero in this SEC vs crypto saga. A win for Coinbase will mean a win for crypto and this should begin to lay down the foundations for an actual rule book.
Plus, it’s major publicity brownie points for Coinbase as they look to move operations to the land of carnivals in Brazil.
Big news! Coinbase is expanding in Brazil! 🇧🇷
Our mission is to democratize access to the crypto economy globally so we've integrated with Pix for smooth transactions, launched a fully localized app in Portuguese, and offer 24/7 support.
Mar 21, 2023
😱 Do Kwon Caught
TLDR: Luna Founder and market destroyer, Do Kwon was caught in Montenegro after trying to claim the Arbitrum airdrop on public WiFi, according to sources close to the matter.
What happened? According to a Tweet from Montenegro Interior Minster Filip Adzic, Do Kwon has been “arrested at Podgorica airport with forged documents.” Officials are currently confirming his identification.
Why this matters: Because we just MIGHT be about to see justice served to one of the most infamous crypto villains of all time.
Local media says Do Kwon was arrested alongside Terra's CFO attempting to board a flight to Dubai using fake Costa Rican documents
Also found with fake Belgium documents, 3 laptops and 5 phones
Mar 23, 2023
👀 DeFi insights & project updates.
The World of DeFi.
Arbitrum launched a token (the biggest day in crypto history, duh!) check out what we at blocmates had to say. (YouTube)
Vertex Protocol’s private beta is soon to be announced in discord (airdrop for those who use the protocol). (Twitter) (blocmates review)
Timeswap Labs have just launched the first lending & borrowing market for the $ARB token on Arbitrum. (Twitter)
Perpy Finance gets listed on BitGet with Nitro Pool PRY/USDC going live on Camelot. (Twitter)
Plutus DAO & Camelot DEX both add $1m incentivised $ARB pools. (Twitter) (Twitter)
The Land of NFTs.
Governance Updates.
Beranouns, the official name service of Bera Chain has submitted a proposal to the Bera holders to vote for the style, format and name of the service. (Twitter)
Vesta Finance has submitted a proposal to add a percentage of its ARB tokens as collateral for liquidity incentives and delegate governance rights. (Governance)
AAVE’s “Harmony Recovery Plan” voting ends on March 26th. (Snapshot)
Chart of the day. $ARB to $2?
$ARB 15M | Trading View
Crypto Twitter is screaming for it and Fibonacci lines are confirming a $2 is possible in the short term.
Bull case. Hype maintains, liquidity providers still earn big $$$ pushing the price towards $2 or even back to the dex listing price of $4.7.
Bear case. The rotation out of the ecosystem happens and we fall back to a $1.
Arbitrum price by Monday?
Let's speculate and see
🗞 Hot off the press.
🐮 Bullish News.
Mysten Labs to buy back equity as FTX debtors agree to sell back the $95m token holding FTX holds after the $300m funding round. This could be bullish for Aptos and the future of Sui. (Cointelegraph)
Bitcoin to the moon! Literally, as SpaceX send a wallet key attached to a Lunar Rover. Get there first and win yourself 62 Bitcoin which will be funded by a 24,000 NFT collection. (The Block)
Radix secures $10m in their latest round of funding led by DWF Labs ahead of the launch of Babylon mainnet launch allowing smart contract capability on the Radix network. (CoinDesk)
Funding Announcement!
#Radix Tokens Jersey has successfully closed a $10 million funding round led by @DwfLabs
For more information, check out the article below 👇
#Crypto#DeFi $XRD
— Radix - Radically Different DeFi (@radixdlt)
Mar 23, 2023
🐻 Bearish News.
US Banking Turmoil can’t be contained as creditor rating services Moody’s warns of the growing danger banks and the US economy faces. (Watcher Guru)
Yellen Treasury is ready to react and take “additional action” to stabilise banks by deploying more funds to ensure depositors’ funds are safe. (CNBC)
Justin Sun vs SEC. The Tron Founder is being accused of market manipulation by wash trading. Whilst his celebrity shill team including, Jake Paul, Ne-Yo and Souljah Boy are being charged for “illegal touting” the TRX and BTT tokens. (Reuters)
Justin Sun: "I would like to propose my own offer of $1.5 billion to acquire the SEC and integrate it into the Web3.0 world."
Mar 22, 2023
👨🏻💼 What the FED?!
In the news next week, US Consumer Confidence, US Unemployment Claims, US Core PCE with both Yellen & Lagarde speaking.
Forex Factory | Times in UTC
🐥 Twitter reads.
@DCBExperience hosted Grant and Jedi of blocmates on her recent podcast… yeah it’s not often you hear these two talk about themselves… tune in here!
@DigitsCapital, you either love 'em or hate ’em but this thread brings up good points on timing, trade size and managing your positions.
Timing and size are the most important aspects of trading. So, how do we time entries and exits properly, pick the correct size so we don’t get blown out, and manage these trades while things change in the middle?
Here’s a 🧵 on how I do it, and how you can do it too (TLDR #35)
— Digits Capital 🐻⛓️ (@DigitsCapital)
Mar 18, 2023
@0xkhan_ takes a look at a number of Polygon’s native projects ahead of the official release of the Polygon zkEVM.
zkEVM unleashes upon us a new ecosystem, built on the most cutting edge zk execution layer.
But more importantly, what are best upcoming Defi dapps on the the layer.
Sharing few tokenless novel native zkEVM protocols, who have a great chance to make it big, a 🧵
Mar 23, 2023
Did you like the new format?
And on that note, thanks for reading, catcha apes in the next edition!
blocmates team 🫡
👇 PS. share with a fren for some loot 👇
🤝 A final word.
A quick word from our super awesome sponsors who help us make this all possible...
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