# The Coinweb Daily Spin

By [Coinweb.io](https://paragraph.com/@rukawin) · 2023-04-19

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**The Daily Spin.** \*Wet Wednesday Edition. \*April 18th saw the absolute grilling that SEC Chair Gary Gensler received yesterday at the hands of the House Financial Services Committee – noting in the opening remarks that under Chair Gensler’s lead, 53 new regulations have been introduced haphazardly with “half-baked” cost-benefit analyses supporting their justification, and that “regulation by enforcement” is not conducive to the mandate of the SEC and the Congressional oversight thereof. While the full session is a whopping four-and-a-half hour long roasting of bipartisan politics and ineffective leadership, the first 30 mins will give a pretty good foreshadowing of what happens next…

In other news, Solana launches SAGA – the world’s first “fully Web3 mobile phone.” Apple users are exposed to iOS and macOS vulnerabilities, and there is a current wallet draining of pre-2015 Ethereum addresses that is going on and still being investigated. EToro partners with Twitter to offer direct on-ramping to Twitter users. DCG’s Merit Circle launches gaming subnet “Beam.” 

Banks are under continued pressure as the front-end yield curve surges past 5%. Polygon explains to the EU why they must know the difference between “permissioned” and “permissionless.” Another deep dive into the impacts of the ETH Shapella upgrade, and BanklessHQ interviews a16z’s CTO about the “State of Crypto Report 2023” to understand some of the logic and motivations behind this year’s landmark market analysis… here is our round-up of curated news and opinions (surely biased) from the world of Blockchain, keeping you informed into the market news with the most trending, in-the-know, and controversial topics. In the name of transparent, dissemination of information to keep you curious, inspired, and clinically sane…

**Ongoings at Coinweb**

Coinweb Completes Integration of 4 New Blockchains Delivering Along its Roadmap for Cross-Chain Interoperability [https://finance.yahoo.com/news/coinweb-completes-integration-4-blockchains-154031366.html?guccounter=1](https://finance.yahoo.com/news/coinweb-completes-integration-4-blockchains-154031366.html?guccounter=1)

Coinweb Prioritises Community Trust with Transparent Reserve Allocation [https://medium.com/@Coinweb.io/coinweb-prioritises-community-trust-with-transparent-reserve-allocation-ce14063b6fa9](https://medium.com/@Coinweb.io/coinweb-prioritises-community-trust-with-transparent-reserve-allocation-ce14063b6fa9)

CWEB Token Usage and Utility [https://medium.com/@Coinweb.io/cweb-token-usage-913307f8f441](https://medium.com/@Coinweb.io/cweb-token-usage-913307f8f441)

Coinweb has Closed $2 Million Fundraising Round from SAVA Investment Management [https://www.benzinga.com/pressreleases/23/04/a31637718/coinweb-has-closed-2-million-fundraising-round-from-sava-investment-management](https://www.benzinga.com/pressreleases/23/04/a31637718/coinweb-has-closed-2-million-fundraising-round-from-sava-investment-management)

The Coinweb Monthly Spin - Sixth Edition: Coinweb Project's Monthly Round-Up and Curated News & Events From The Bleeding Edge of All Things Web3 [https://coinweb.beehiiv.com/p/coinweb-monthly-spin-sixth-edition?\_gl=1\*1lv6vvu\*\_ga\*NjEwNTkwMjc0LjE2NzU3NTc5NjQ.\*\_ga\_E6Y4WLQ2EC\*MTY4MDQ5NDg4Mi4yMy4xLjE2ODA0OTU1ODcuMzguMC4w](https://coinweb.beehiiv.com/p/coinweb-monthly-spin-sixth-edition?_gl=1*1lv6vvu*_ga*NjEwNTkwMjc0LjE2NzU3NTc5NjQ.*_ga_E6Y4WLQ2EC*MTY4MDQ5NDg4Mi4yMy4xLjE2ODA0OTU1ODcuMzguMC4w)

SoftServe, Ultra, Coinweb, ConsenSys, DSCVR and XDC Foundation on Blockchain Misconceptions [https://thefintechtimes.com/softserve-ultra-coinweb-consensys-dscvr-and-xdc-foundation-on-blockchain-misconceptions/](https://thefintechtimes.com/softserve-ultra-coinweb-consensys-dscvr-and-xdc-foundation-on-blockchain-misconceptions/)

Coinweb’s Layer 2 marks 4 million transactions milestone [https://twitter.com/CoinwebOfficial/status/1638125472814092291?s=20](https://twitter.com/CoinwebOfficial/status/1638125472814092291?s=20)

Coinweb Partners With Ceffu for Institutional Crypto Custody [https://www.ceffu.com/blog/coinweb-partners-with-ceffu-for-institutional-crypto-custody?utm\_source=twitter&utm\_medium=organic\_social&utm\_campaign=cweb0321](https://www.ceffu.com/blog/coinweb-partners-with-ceffu-for-institutional-crypto-custody?utm_source=twitter&utm_medium=organic_social&utm_campaign=cweb0321)

Coinweb’s Fireside Chat Series, digitALL: Innovation and Technology for Gender Equality [https://twitter.com/CoinwebOfficial/status/1636676933361745920?s=20](https://twitter.com/CoinwebOfficial/status/1636676933361745920?s=20)“

A Thread on Refereed Delegation of Computation” by Kawin on Twitter [https://twitter.com/CoinwebOfficial/status/1635952081302589441?s=20](https://twitter.com/CoinwebOfficial/status/1635952081302589441?s=20)

Coinweb to bring cross-chain tokenisation to Layer 2 [https://cryptoslate.com/coinweb-to-bring-cross-chain-tokenisation-to-layer-2/](https://cryptoslate.com/coinweb-to-bring-cross-chain-tokenisation-to-layer-2/)“

A Thread on L2 Scalability, Network Efficiency and Throughput/TPS” by Anton on Twitter [https://twitter.com/CoinwebOfficial/status/1633424957693915137](https://twitter.com/CoinwebOfficial/status/1633424957693915137)

A Leading Layer 2 Platform Looking To Tackle Crypto's Interoperability Issue [https://www.benzinga.com/markets/cryptocurrency/23/02/31067514/a-leading-layer-2-platform-looking-to-tackle-cryptos-interoperability-issue](https://www.benzinga.com/markets/cryptocurrency/23/02/31067514/a-leading-layer-2-platform-looking-to-tackle-cryptos-interoperability-issue)“

The Reality of Large-scale Enterprises Adopting Blockchain Technology” an article by Toby Gilbert for CityAM Magazine [https://www.cityam.com/the-reality-of-large-scale-enterprises-adopting-blockchain-technology/](https://www.cityam.com/the-reality-of-large-scale-enterprises-adopting-blockchain-technology/)

Coinweb Labs is proud to unveil LinkMint 📷📷, our groundbreaking Cross-Chain Tokenisation Platform and DeconX, our integrated native DEX! Live Walkthrough Demonstration for the Community by Toby, Knut, and Alexander. [https://www.youtube.com/watch?v=CSKA3cAB15U](https://www.youtube.com/watch?v=CSKA3cAB15U)“

Toby’s full presentation at Token2049-London [https://youtu.be/pdtKx3vAs9c](https://youtu.be/pdtKx3vAs9c)

**On the Radar**

**Consensus 2023, Apr 26-28 (Austin, Texas)**

Web3 Weekend, May 8-13 (Jakarta) Non Fungible Conference, Jun 7-9 (Lisbon) AIBC Asia, Jul 19-22 (Manila)

**TOKEN2049, Sep 13-14 (Singapore)**

**Blockchain Events curated by CryptoNomad** [https://docs.google.com/spreadsheets/d/1KtyFTb\_W282bQ1xoVA5rlTwTDz3QfhswWIVpXhpbQIc/edit](https://docs.google.com/spreadsheets/d/1KtyFTb_W282bQ1xoVA5rlTwTDz3QfhswWIVpXhpbQIc/edit)

**On the Block(chain)**

Staked Ethereum deposits exceed ETH withdrawals in latest 24-hour period [https://cryptoslate.com/insights/staked-ethereum-deposits-exceed-eth-withdrawals-in-latest-24-hour-period/](https://cryptoslate.com/insights/staked-ethereum-deposits-exceed-eth-withdrawals-in-latest-24-hour-period/)

Solana Launches SAGA, world’s first Web3 mobile phone [https://twitter.com/solanamobile/status/1646580454768910344?s=20](https://twitter.com/solanamobile/status/1646580454768910344?s=20)

Bitcoin whales enter deep accumulation for the first time since January [https://cryptoslate.com/insights/bitcoin-whales-enter-deep-accumulation-for-the-first-time-since-january/](https://cryptoslate.com/insights/bitcoin-whales-enter-deep-accumulation-for-the-first-time-since-january/)

Messari: State of Cardano Report [https://messari.io/report/state-of-cardano-q1-2023?\_\_s=s53o07sx3i8m6dc09x2o](https://messari.io/report/state-of-cardano-q1-2023?__s=s53o07sx3i8m6dc09x2o)

Messari: State of Boba Report [https://messari.io/report/state-of-boba-network-q1-2023](https://messari.io/report/state-of-boba-network-q1-2023)

Messari: State of NEAR Report [https://messari.io/report/state-of-near-q1-2023](https://messari.io/report/state-of-near-q1-2023)

Developers Block Potential ‘Eight-Figure’ Exploit Involving Cosmos-Based Ethermint [https://www.coindesk.com/tech/2023/04/14/developers-block-potential-eight-figure-exploit-involving-cosmos-based-ethermint/](https://www.coindesk.com/tech/2023/04/14/developers-block-potential-eight-figure-exploit-involving-cosmos-based-ethermint/)

Zipmex's rescue investor now wants to pay only 10 to 20 cents on the dollar [https://www.theblock.co/post/226378/zipmex-rescue-investor-discount](https://www.theblock.co/post/226378/zipmex-rescue-investor-discount)

Apple crypto users potentially exposed to iOS, macOS vulnerabilities [https://cryptoslate.com/apple-crypto-users-potentially-exposed-to-ios-macos-vulnerabilities/](https://cryptoslate.com/apple-crypto-users-potentially-exposed-to-ios-macos-vulnerabilities/)

Crypto veterans targeted in mysterious MetaMask heists – 5k ETH stolen [https://cryptoslate.com/crypto-veterans-targeted-in-mysterious-metamask-heists-5k-eth-stolen/](https://cryptoslate.com/crypto-veterans-targeted-in-mysterious-metamask-heists-5k-eth-stolen/)

SafeMoon hacker agrees to return 80% of stolen funds [https://cryptoslate.com/safemoon-hacker-agrees-to-return-80-of-stolen-funds/](https://cryptoslate.com/safemoon-hacker-agrees-to-return-80-of-stolen-funds/)

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Competitive Landscape\*\*

EToro to Offer Crypto Trading Directly to Twitter Users [https://www.coindesk.com/business/2023/04/13/etoro-to-offer-crypto-trading-directly-to-twitter-users/](https://www.coindesk.com/business/2023/04/13/etoro-to-offer-crypto-trading-directly-to-twitter-users/)

Crypto Exchange Bybit Opens Global Headquarters in Dubai [https://www.coindesk.com/policy/2023/04/18/crypto-exchange-bybit-opens-global-hq-in-dubai/](https://www.coindesk.com/policy/2023/04/18/crypto-exchange-bybit-opens-global-hq-in-dubai/)

Intel Bitcoin mining chips discontinued despite chip efficiency, $63M revenue boost in 2022 [https://cryptoslate.com/intel-bitcoin-mining-chips-discontinued-despite-chip-efficiency-63m-revenue-boost-in-2022/](https://cryptoslate.com/intel-bitcoin-mining-chips-discontinued-despite-chip-efficiency-63m-revenue-boost-in-2022/)

Liquid staking protocols TVL could ‘flip’ DEXs TVL soon [https://cryptoslate.com/liquid-staking-protocols-tvl-could-flip-dexs-tvl-soon/](https://cryptoslate.com/liquid-staking-protocols-tvl-could-flip-dexs-tvl-soon/)

DCG portfolio company Merit Circle set to launch gaming subnet – Beam [https://cryptoslate.com/dcg-portfolio-company-merit-circle-set-to-launch-gaming-subnet-beam/](https://cryptoslate.com/dcg-portfolio-company-merit-circle-set-to-launch-gaming-subnet-beam/)

A16z hints at blockchain product by imitating Coinbase’s ‘blue dot’ campaign [https://cryptoslate.com/a16z-hints-at-blockchain-product-by-imitating-coinbases-blue-dot-campaign/](https://cryptoslate.com/a16z-hints-at-blockchain-product-by-imitating-coinbases-blue-dot-campaign/)

SwissBorg Raises over €20M with Revolutionary Community-Centric Fundraising [https://cryptoslate.com/press-releases/swissborg-raises-over-e20m-with-revolutionary-community-centric-fundraising/](https://cryptoslate.com/press-releases/swissborg-raises-over-e20m-with-revolutionary-community-centric-fundraising/)

FTX relaunch could be funded by Tribe Capital [https://cryptoslate.com/ftx-relaunch-could-be-funded-by-tribe-capital/](https://cryptoslate.com/ftx-relaunch-could-be-funded-by-tribe-capital/)

Dfinity Foundation says ICP consumes less energy than Cardano, launches ‘proof of green’ initiative [https://cryptoslate.com/dfinity-foundation-says-icp-consumes-less-energy-than-cardano-launches-proof-of-green-initiative/](https://cryptoslate.com/dfinity-foundation-says-icp-consumes-less-energy-than-cardano-launches-proof-of-green-initiative/)

**US. Coordinated Regulation Failures**

SEC Chair Gensler Testifies in Front of House Financial Services Committee (4hrs 30mins) [https://youtu.be/5JXeSEVxaR4](https://youtu.be/5JXeSEVxaR4)

House Committee slams SEC Chair Gary Gensler over inconsistent approach to crypto regulation [https://cryptoslate.com/house-committee-slams-sec-chair-gary-gensler-over-inconsistent-approach-to-crypto-regulation/](https://cryptoslate.com/house-committee-slams-sec-chair-gary-gensler-over-inconsistent-approach-to-crypto-regulation/)

SEC Labels Algorand and Five Other Tokens as Securities in Bittrex Lawsuit [https://decrypt.co/136990/sec-bittrex-lawsuit-algorand-five-tokens-securities](https://decrypt.co/136990/sec-bittrex-lawsuit-algorand-five-tokens-securities)

Draft U.S. Stablecoin Bill Shows Major Difference Between Stablecoins and CBDCs [https://www.coindesk.com/consensus-magazine/2023/04/17/us-stablecoin-bill-picks-winners-and-losers/](https://www.coindesk.com/consensus-magazine/2023/04/17/us-stablecoin-bill-picks-winners-and-losers/)

SEC reopens dark pools rule proposal that would regulate DeFi [https://www.dlnews.com/articles/regulation/sec-reopens-comment-period-reg-ats-defi-exchange-amendments/](https://www.dlnews.com/articles/regulation/sec-reopens-comment-period-reg-ats-defi-exchange-amendments/)

SEC inclusion of DeFi in ‘exchange’ definition attracts pushback [https://www.ledgerinsights.com/sec-defi-exchange-definition/](https://www.ledgerinsights.com/sec-defi-exchange-definition/)

Gary Gensler’s old pro-Algorand video ignites debate amid unregistered security claims [https://cryptoslate.com/gary-genslers-old-pro-algorand-video-ignites-debate-amid-unregistered-security-claims/](https://cryptoslate.com/gary-genslers-old-pro-algorand-video-ignites-debate-amid-unregistered-security-claims/)

SEC’s Gary Gensler says he has never owned crypto [https://cryptoslate.com/secs-gary-gensler-says-he-has-never-owned-crypto/](https://cryptoslate.com/secs-gary-gensler-says-he-has-never-owned-crypto/)

Fed board member says CBDC risks outweigh benefits [https://cryptoslate.com/fed-board-member-says-cbdc-risks-outweigh-benefits/](https://cryptoslate.com/fed-board-member-says-cbdc-risks-outweigh-benefits/)

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\*\*World

Permissioned vs Permissionless: Why Polygon Is Telling the EU to Know the Difference [https://blockworks.co/news/polygon-eu-permissionless-permissioned](https://blockworks.co/news/polygon-eu-permissionless-permissioned)

IMF denies involvement in purported CBDC [https://cryptoslate.com/imf-denies-involvement-in-purported-cbdc/](https://cryptoslate.com/imf-denies-involvement-in-purported-cbdc/)

Banks face further pressure as front end of the yield curve surges past 5% [https://cryptoslate.com/insights/banks-face-further-pressure-as-front-end-of-the-yield-curve-surges-past-5/](https://cryptoslate.com/insights/banks-face-further-pressure-as-front-end-of-the-yield-curve-surges-past-5/)

Microsoft building in-house AI chip “Athena” [https://cryptoslate.com/microsoft-building-in-house-ai-chip-athena/](https://cryptoslate.com/microsoft-building-in-house-ai-chip-athena/)

Kraken gets regulatory approval to operate in Ireland [https://cryptoslate.com/kraken-gets-regulatory-approval-to-operate-in-ireland/](https://cryptoslate.com/kraken-gets-regulatory-approval-to-operate-in-ireland/)

Coinbase CEO meets with UK Economic Secretary to discuss crypto innovation \[[https://cryptoslate.com/coinbase-ceo-meets-with-uk-economic-secretary-to-discuss-crypto-innovation/](https://cryptoslate.com/coinbase-ceo-meets-with-uk-economic-secretary-to-discuss-crypto-innovation/)

\]([https://cryptoslate.com/coinbase-ceo-meets-with-uk-economic-secretary-to-discuss-crypto-innovation/](https://cryptoslate.com/coinbase-ceo-meets-with-uk-economic-secretary-to-discuss-crypto-innovation/))

**Thought Leadership**

BanklessHQ: a16z Crypto’s CTO on State of Crypto 2023 Report (80mins) [https://www.youtube.com/live/01qi-FNpmR8?feature=share](https://www.youtube.com/live/01qi-FNpmR8?feature=share)

Op-ed: Communities are not built around JPEGs [https://cryptoslate.com/op-ed-communities-are-not-built-around-jpegs/](https://cryptoslate.com/op-ed-communities-are-not-built-around-jpegs/)

Here’s why GPT-4 outperforms GPT3.5, LLMs in code debugging [https://cryptoslate.com/heres-why-gpt-4-outperforms-gpt3-5-llms-in-code-debugging/](https://cryptoslate.com/heres-why-gpt-4-outperforms-gpt3-5-llms-in-code-debugging/)

Before and after Shanghai: A deep dive into the consequences of Ethereum’s latest upgrade [https://cryptoslate.com/market-reports/shanghai-upgrade-a-blip-or-a-turning-point-for-ethereum/](https://cryptoslate.com/market-reports/shanghai-upgrade-a-blip-or-a-turning-point-for-ethereum/)

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![](https://storage.googleapis.com/papyrus_images/b31544b02b642cae9fd46cafd8eed839f7ff881d37962e5b33a9cdb78517dd21.jpg)

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*Originally published on [Coinweb.io](https://paragraph.com/@rukawin/the-coinweb-daily-spin-15)*