Top Crypto Stories This Week: From Naked Sushi Models to Faceless Directors
April kicks off with one of the world's weirdest and whackiest traditions: April Fool's Day. But when it comes down to the truly weird and whacky, even April 1st can't compete with crypto.
This week alone, we've seen a crypto custody firm descend into Wolf of Wall Street debauchery by holding a private event to eat sushi from the semi-naked bodies of models at a 5-star hotel. Meanwhile, a crypto behemoth of an exchange has been busy putting together its first-ever board of directors, which comprises mysterious nobodies.
Try coming up with an April Fool's joke to compete with that.
Even the markets failed to give us anything to cheer about. Bitcoin slid almost 6% over the week while Ethereum dropped close to 10%.
We're still telling ourselves it's a bull market though as it wasn't too long ago that Bitcoin was sub $40K... And we still have Bitcoin halving and Ethereum ETFs to look forward to us right? Right???
Despite BTC's and ETH's price drop, risk appetites on the Fear & Greed Index have remained in the "Extreme Greed" zone.
The Fear & Greed Index uses 5-6 measurements to assess the current sentiment of the market and then rates that level of emotion on a scale of 1-100 – 1 is extreme fear and 100 is extreme greed.
Copper Apologizes for Serving Sushi From Semi-Naked Models at 5-Star Hotel Private Party
In a moment that Jordan Belfort would be proud of, crypto custody firm Copper has apologized for hosting an event at which guests were served sushi from the bodies of semi-naked models.
Copper held the private party at London's five-star Mandrake Hotel. A photo obtained FT shows a man and woman wearing very little clothing lying on a long dining table with food on their bodies.
Ripple to Launch USD-Pegged Stablecoin, Boosting XRP Ledger Liquidity
Ripple has announced plans to launch a stablecoin pegged to 1:1 to the US dollar (USD).
The stablecoin is 100% backed by USD deposits, short-term US government treasuries, and other cash equivalents. Ripple promises its stablecoin will be enterprise-grade and compliance-first.
Eyes Roll as Goldman Sachs Flip-Flops on Clients' Crypto Appetite
Goldman Sachs has been a staple of the investment industry for over one hundred years, establishing a legacy in the financial world unmatched by most. Despite its age, Goldman Sachs has remained at the forefront of its sector and has retained an esteemed reputation throughout its years.
However, the financial juggernaut is now telling us that its largest clients are "exploring" crypto but are also not enquiring about crypto.
Bitcoin also has "applications beyond a store of value" but also "creates no value" according to them.
Singapore Grants License to Crypto Market Maker GSR, Signaling a Progressive Shift
Singapore regulators have granted a Major Payment Institution (MPI) license to cryptocurrency market maker GSR Markets.
The MPI license allows GSR Markets to conduct spot over-the-counter (OTC) trading and market-making services under the watchful eye of the Monetary Authority of Singapore (MAS).
Gary Gensler Needs You! SEC Seeks ETH ETF Opinions
After months of deliberation, the Securities and Exchange Commission (SEC) is turning to the public for comments on Ethereum ETF applications.
The regulator has given the public 21 days to submit comments on ETH ETF applications from Fidelity Ethereum Fund, Grayscale Ethereum Trust, and Bitwise Ethereum Trust
US Government Preparing to Sell More Silk Road Bitcoin
The US Marshals Service (USMS) is reportedly preparing to auction off another batch of Bitcoin seized from the now-defunct Silk Road marketplace.
Silk Road was an online black market that operated from 2011 to 2013. It was the first major marketplace to use Bitcoin as its currency, and its founder, Ross Ulbricht, is currently serving a life sentence for his role in its operation.
The US Department of Justice (DOJ) seized a large amount of Bitcoin from Silk Road in the course of its investigation. In March 2023, the USMS auctioned off a portion of this Bitcoin, selling just over 9,861 BTC worth $216 million.
Is It Time to Take Memecoins Seriously? Arthur Hayes, Vitalik Buterin, Binance Say Yes
It's hard to argue that something with "meme" in its name is anything other than a joke product. What's more, the names of memecoins such as dogwifhat, Bonk, Jeo Boden, Pepe, and of course, Dogecoin, aren't exactly helping the matter.
However, at a time when blue-chip cryptos are losing steam and memecoins continue to rally, is it time to consider the world of degen trading seriously?
Arthur Hayes, Vitalik Buterin, and Binance seem to think so.
Singapore Strengthens Regulation of Cryptocurrencies
The Payment Services (Amendment) Bill passed in January 2021, which expands the scope of payment services the Monetary Authority of Singapore (MAS) has gone live.
The amendment to the Payment Services Act brings three new activities under its purview: crypto custody services, facilitating the transmission or exchange of crypto, and facilitating cross-border money transfer.
Exploring DePin & Filecoin's Innovative Data Storage Solution
Filecoin is revolutionizing the data storage ecosystem. What effect does this have on its token and its price action?
Recently, DePin (Decentralized Physical Infrastructure Networks) are gaining massive traction in the crypto ecosystem. DePins are blockchain applications and protocols that aim to provide real world services.
Binance's First-Ever Board of Directors Comprises Faceless Executives
Binance has announced its first seven-member board of directors. We know Richard Teng but who are Arnaud Ventura, Gabriel Abed, Heina Chen, Jinkai He, Lilai Wang and Xin Wang?
Not even the internet knows.
Vitalik Buterin Reveals Ethereum 'Purge' Plans
Vitalik Buterin has laid out new steps for Ethereum's 'Purge' to improve the blockchain's efficiency.
In a blog post written by Buterin, the Ethereum co-founder detailed how upcoming initiatives, known as The Purge, will refine the protocol.
The Purge removes excess and obsolete network history to simplify its process while introducing new Ethereum Improvement Proposals (EIPs) to streamline operations and security.
Sam Bankman-Fried Has Ruined April Fool's Day for Crypto
April Fool's Day is one of the most fun days in an editorial calendar. Whilst some miserable sods might regard it as a poxy and tried tradition, some think of it as a creative challenge to see how far the boundaries of people's beliefs can be pushed and how morphed their realities can become.
Sadly, Sam Bankman-Fried rug pulling the entire industry is too much of an unbelievable story to compete with for April Fool's pranksters.
Blockcast EP 21 | From "Tezos Lady" to Launching Her Own Web3 Venture Builder: Katherine Ng Discusses Her Journey And Vision For Katashe
Katherine Ng might be leaving her Tezos days behind her, but the former TZ APAC MD is taking her experience and channelling her Web3 wisdom into a new project: Katashe. Focusing on Venture Building, Katashe has just signed its first partner, Filliquid (the premier decentralized liquidity pool on Filecoin), through which Katherine serves as the Chief Strategy and Marketing Officer.
Events
Onchain 2024
Saison Capital, a Singapore-based venture capital firm and subsidiary of Saison International, has announced the inaugural launch of ONCHAIN 2024, marking Asia's first RWA conference.
Taking place on 26 April 2024, 9 am - 5 pm (ICT), in SO/Bangkok Hotel, Bangkok, Thailand, the event features an impressive lineup of speakers and attendees from TradFi institutions including Citibank, Standard Chartered, SCBx, Woori Bank, and SBI Holdings, as well as real-world asset (RWA) leaders including Helicap Group, Evertas, HELIX, D3 Labs, OpenEden and Rakkar Digital.
“The trend of tokenizing RWAs has gained momentum in 2023 despite depressed markets across traditional finance and crypto," said Qin En Looi, Partner at Saison Capital. "The launch of ONCHAIN 2024 aims to bring more partners into the conversation to shape the financial ecosystem of the future."
Early bird tickets, priced at S$99, are available now. But as the exclusive supporting partner for ONCHAIN 2024, we've got an exclusive 20% discount on tickets for the Blockhead family. Simply use the promo code 'blockhead' at checkout to unlock this special offer.
ETH Seoul/BUIDL Asia 2024
The fifth edition of BUIDL Asia Week is set to take place on 27–31 March 2024 in Seoul, South Korea. This year's event, BUIDL Asia and ETH Seoul, is poised to unite a diverse group of visionaries, developers, and innovators, aiming to solidify South Korea's status as a global hub for digital innovation and collaboration in the Web3 space.
For more details on the event schedule and speaker lineup, interested parties are encouraged to visit the official BUIDL Asia 2024 and ETH Seoul 2024 websites.
Blockhead is a media partner for the event. See you there!
zkLink’s Layer 3 Summit Heads to TOKEN2049 Dubai
zkLink is bringing its third rendition of its L3 Summit to TOKEN2049 Dubai, as part of its initiative to put the spotlight on Layer 3 developments.
The in-person event follows zkLink's previous L3 Summits at Devconnect Istanbul in November 2023 and at ETH Denver in March 2024.
zkLink's L3 Summit will be held at TOKEN2049 Dubai on 16 April 2024, from 11:00 to 19:00 local time, at the One & Only Royal Mirage Resort at Jumeirah Beach.
Blockhead is a media partner of the L3 Summit.