# The Coinweb Daily Spin

By [Coinweb.io](https://paragraph.com/@rukawin) · 2023-04-21

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\*\*The Daily Spin. _Fractal Friday Edition._ \*\*The markets are in full pullback with BTC dropping almost to $28k and over $300m in long liquidations within the past 48hrs. ETH Layer 2 bridging is up six-fold YoY, Coinbase’s Base network gets an OpenZepplin security integration, and The Graph launches subgraph hosted services to support their move to decentralisation. 1inch launches its protocols on zk-Sync Era, live as of today – as privacy and scaling continue to drive use cases for zero-knowledge technology. Aleph Zero launches a $50m ecosystem fund, and Microsoft Azure Marketplace integrates an on-ramp to blockchain data. Algorand is down 10% despite the Foundation denying allegations that Algo is a security, and ApeCoin DAO votes to give $1m to the Ethereum Foundation for support of further development activities.

The big news for the day is the EU Parliament passing the “Markets in Crypto Assets” (MiCA) regulatory framework, which will cover all cryptocurrencies and companies offering crypto-related services – and is widely considered the first comprehensive rule set for the crypto industry in the world. MiCA will come into effect in 2024. The regulations will also include the “travel rule,” which states that “information on the source of the \[crypto\] asset and its beneficiary will have to “travel” with the transaction and be stored on both sides of the transfer,” in an attempt to curb AML and CTF transactions.

Meanwhile, the BIS and BoE have concluded their pilot program for “DLT Settlements” (note the change from “CBDC’s”) and Societe Generale’s crypto-arm announces their plans to launch a Euro-pegged stablecoin. The Dutch authorities have released Tornado Cash developer Alexsey Pertsev “under supervision” with an ankle bracelet (how barbaric, these things we still do).

In today’s TL section, we take a look at the potential of multi-chain to connect and transform DeFi; Decentralized Physical Infrastructure, or DePIN, as one of the most important innovations of this technological iteration; there is another overview of the Shapella upgrade (in case you missed it); and lastly, Cardano releases its first “Annual Report” covering the protocol developments and foundation progress over 2022… 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)**

$300M liquidated in Bitcoin’s descent below $29k [https://cryptoslate.com/300m-liquidated-in-bitcoins-descent-below-29k/](https://cryptoslate.com/300m-liquidated-in-bitcoins-descent-below-29k/)

Ethereum layer 2 bridging up sixfold year-on-year in Q1 — Alchemy [https://cointelegraph.com/news/ethereum-layer-2-bridging-up-sixfold-year-on-year-in-q1-alchemy](https://cointelegraph.com/news/ethereum-layer-2-bridging-up-sixfold-year-on-year-in-q1-alchemy)

Coinbase’s Base network gets OpenZeppelin security integration [https://cointelegraph.com/news/coinbase-s-base-network-gets-openzeppelin-security-integration](https://cointelegraph.com/news/coinbase-s-base-network-gets-openzeppelin-security-integration)

Subgraph hosted service launches as The Graph prepares for decentralization [https://cointelegraph.com/news/subgraph-hosted-service-launches-as-the-graph-prepares-for-decentralization](https://cointelegraph.com/news/subgraph-hosted-service-launches-as-the-graph-prepares-for-decentralization)

1inch launches protocols on zkSync Era [https://cryptoslate.com/1inch-launches-protocols-on-zksync-era/](https://cryptoslate.com/1inch-launches-protocols-on-zksync-era/)

Algorand down 10% despite Foundation claims that it isn’t security [https://cryptoslate.com/algorand-down-10-despite-foundation-claims-that-it-isnt-security/](https://cryptoslate.com/algorand-down-10-despite-foundation-claims-that-it-isnt-security/)

ApeCoin community approves $1M donation to Ethereum development \[[https://cryptoslate.com/apecoin-community-approves-1m-donation-to-ethereum-development/](https://cryptoslate.com/apecoin-community-approves-1m-donation-to-ethereum-development/)

\]([https://cryptoslate.com/apecoin-community-approves-1m-donation-to-ethereum-development/](https://cryptoslate.com/apecoin-community-approves-1m-donation-to-ethereum-development/))

**Competitive Landscape**

Aleph Zero launches $50M ecosystem funding program [https://cointelegraph.com/news/aleph-zero-launches-50m-ecosystem-funding-program](https://cointelegraph.com/news/aleph-zero-launches-50m-ecosystem-funding-program)

Privacy, scaling drives use cases for zero-knowledge technology [https://cointelegraph.com/news/privacy-scaling-drives-use-cases-for-zero-knowledge-technology](https://cointelegraph.com/news/privacy-scaling-drives-use-cases-for-zero-knowledge-technology)

Microsoft Azure Marketplace integrates on-ramp to blockchain data [https://cointelegraph.com/news/microsoft-azure-marketplace-integrates-on-ramp-to-blockchain-data](https://cointelegraph.com/news/microsoft-azure-marketplace-integrates-on-ramp-to-blockchain-data)

Trezor confirms refusing coinjoin UTXOs to protect privacy of others [https://cryptoslate.com/trezor-confirms-refusing-coinjoin-utxos-to-protect-privacy-of-others/](https://cryptoslate.com/trezor-confirms-refusing-coinjoin-utxos-to-protect-privacy-of-others/)

BitTorrent token defies market uncertainty; BTT posts 22-week high [https://cryptoslate.com/bittorrent-token-defies-market-uncertainty-btt-posts-22-week-high/](https://cryptoslate.com/bittorrent-token-defies-market-uncertainty-btt-posts-22-week-high/)

Ripple, FTX, Tezos leaders affected by Twitter’s blue checkmark removals [https://cryptoslate.com/ripple-ftx-tezos-leaders-affected-by-twitters-blue-checkmark-removals/](https://cryptoslate.com/ripple-ftx-tezos-leaders-affected-by-twitters-blue-checkmark-removals/)

**US. Coordinated Regulation Failures**

SEC tells financial professionals that crypto assets demand ‘heightened scrutiny’ [https://cryptoslate.com/sec-tells-financial-professionals-that-crypto-assets-demand-heightened-scrutiny/](https://cryptoslate.com/sec-tells-financial-professionals-that-crypto-assets-demand-heightened-scrutiny/)

Texas bill could require crypto firms to show they can cover user balances [https://cryptoslate.com/texas-bill-could-require-crypto-firms-to-show-they-can-cover-user-balances/](https://cryptoslate.com/texas-bill-could-require-crypto-firms-to-show-they-can-cover-user-balances/)

Fed Governor highlights benefits, risks of tokenization and smart contracts [https://cryptoslate.com/fed-governor-highlights-benefits-and-risks-of-tokenization-and-smart-contract/](https://cryptoslate.com/fed-governor-highlights-benefits-and-risks-of-tokenization-and-smart-contract/)

**World**

BIS, Bank of England conclude DLT settlements pilot [https://cointelegraph.com/news/bis-bank-of-england-concludes-blockchain-int-l-settlements-pilot](https://cointelegraph.com/news/bis-bank-of-england-concludes-blockchain-int-l-settlements-pilot)

Societe Generale’s crypto arm to launch Euro-pegged stablecoin [https://cryptoslate.com/societe-generales-crypto-arm-to-launch-euro-pegged-stablecoin/](https://cryptoslate.com/societe-generales-crypto-arm-to-launch-euro-pegged-stablecoin/)

EU’s MiCA crypto regulatory framework passes final parliamentary voting [https://cryptoslate.com/eus-mica-crypto-regulatory-framework-passes-final-parliamentary-voting/](https://cryptoslate.com/eus-mica-crypto-regulatory-framework-passes-final-parliamentary-voting/)

Brazil investigating Binance over illegal derivatives offerings [https://cryptoslate.com/brazil-investigating-binance-over-illegal-derivatives-offerings/](https://cryptoslate.com/brazil-investigating-binance-over-illegal-derivatives-offerings/)

Dutch court to release Tornado Cash dev Alexey Pertsev under surveillance [https://cryptoslate.com/dutch-court-to-release-tornado-cash-dev-alexey-pertsev-under-surveillance/](https://cryptoslate.com/dutch-court-to-release-tornado-cash-dev-alexey-pertsev-under-surveillance/)

**Thought Leadership**

Connecting DeFi: How multichain token systems can improve liquidity [https://cointelegraph.com/news/connecting-defi-how-multichain-token-systems-can-improve-liquidity](https://cointelegraph.com/news/connecting-defi-how-multichain-token-systems-can-improve-liquidity)

DePIN will become one of this decade’s most important crypto investments [https://cointelegraph.com/news/depin-will-become-one-of-this-decade-s-most-important-crypto-investments](https://cointelegraph.com/news/depin-will-become-one-of-this-decade-s-most-important-crypto-investments)

Everything you need to know about ETH Shapella withdrawals [https://cryptoslate.com/everything-you-need-to-know-about-eth-shapella-withdrawals/](https://cryptoslate.com/everything-you-need-to-know-about-eth-shapella-withdrawals/)

Cardano Foundation releases its first annual report [https://cardanofoundation.org/pdf/cf-annual-report-2022.pdf](https://cardanofoundation.org/pdf/cf-annual-report-2022.pdf)

![](https://storage.googleapis.com/papyrus_images/1b393ff9a5d37f22f566a124f478add2916dc9648d3e72791445a1c3e455423f.png)

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*Originally published on [Coinweb.io](https://paragraph.com/@rukawin/the-coinweb-daily-spin-17)*