🐝 VITALIK JUST CASHED OUT BIG TIME! 💰
GM. This is Web3 Buzz, your daily espresso shot of crypto—small in size, big in impact.
So, what’s brewing today?
Vitalik Buterin cashes out: A betrayal or strategic move? 💰
Twitter swoops in with a crypto license 🐦
Polygon introduces a Chain Development Kit 🛠
USDC set to dethrone USD Base Coin 👑
VITALIK JUST CASHED OUT BIG TIME! 💰
Over the weekend, Vitalik made waves…
Ethereum's co-founder liquidated his lingering MakerDAO stash, turning 500 MKR tokens into a cool 353 ether ($580,000).
Why the sudden move? MakerDAO's own co-founder and CEO, Rune Christensen, dropped hints on Friday about a potential pivot away from Ethereum to a Solana-forked blockchain named NewChain.
His reasons? Christensen praises Solana for its technical prowess, its resilience, especially post-FTX disaster, and its flourishing forks like the Pyth Network.
Not just that. The CEO sees this NewChain as a bridge - connecting Ethereum and Solana, amplifying the reach of the multichain economy. Although, he does see Cosmos as a potential player too.
But here's a scoop: MakerDAO's DAI stablecoin is the third-biggest in the USD-pegged game, boasting a $3.9 billion supply. However, it's still trailing behind Tether's massive $82.9 billion.
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And here's what Vitalik had to say: Replying to a Discord post about Christensen's idea, he hinted, “if MakerDAO is torpedoing itself in weird directions," maybe it's time for Reflexer's RAI to step up and mirror DAI's model a bit more.
Flashback: Buterin’s 2018 acquisition of 1,071 MKR has now garnered a neat 27% profit. Remember when he donated 100 MKR to India's Covid relief last year? Since then, that MKR stash had stayed untouched.
Here’s how the markets reacted:
MKR saw a modest dip, down about 4% after the news broke.
Ethereum remained surprisingly steady, with a minor uptick in trading volume.
So there you have it. Drama, crypto, and a lot of numbers.
TWITTER GETS A CRYPTO LICENSE 🔥
Twitter made a BIG move last week…
For those who like it simple, Twitter got a special license called "Currency Transmitter" in Rhode Island.
What's it for? This license allows Twitter to hold, transfer, and swap digital assets like crypto.
So now Twitter's just a hop, skip, and a jump away from letting you mess around with digital money on its platform.
(Sweet Scoop: Rhode Island isn't just about beaches; it's one of the few states with a legal framework for digital assets.)
If you're a crypto fan, this is like Christmas in July. More big names are jumping on the digital cash wagon.
Remember when PayPal started accepting Bitcoin? That was big. This could be too.
Bottom line? Social media and digital money might just be the new PB&J.
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THE BUZZ REPORT: TOP STORIES 📰
Despite Grayscale's recent win boosting sentiment, analysts remain cautious about Bitcoin's outlook for September.
Polygon rolls out a 'Chain Development Kit' focused on ZK technology, aiming to enhance Ethereum networks.
Next week, USDC will replace the existing USD Base Coin on the Base network, offering a natively supported stablecoin.
SWIFT successfully trials Chainlink integration, in collaboration with BNP Paribas and BNY Mellon, exploring blockchain's potential in financial messaging.
PancakeSwap goes live on Base and four other Ethereum chains, including Arbitrum and zkEVM, broadening its decentralized exchange platforms.
Binance begins to sunset support for BUSD stablecoin, urging users to transition to other stable assets.
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.