3/25/24: Elon Misses Vitalik 😢🐵💵

Top News

  1. Elon Musk asks why Vitalik Buterin left X

  2. Kevin Hart sells Bored Ape NFT for 83% loss

  3. Binance to discontinue USDC support on the Tron

Specs’ Breakdown

1. Elon Musk asks why Vitalik Buterin left X

⌐◪-◪ → Elon Musk just asked the public why Ethereum co-founder Vitalik Buterin left Twitter.

For those who don’t know, Vitalik left Twitter in favor of Farcaster, a more decentralized alternative that’s gained a lot of popularity with the crypto community.

This is pretty exciting for Farcaster as it puts them in direct competition with Twitter on a global stage; however, many still question Farcaster’s ability to sustain momentum/growth and compete long-term.

This whole exchange got me thinking…

It would be cool to listen to Elon and Vitalik discuss centralized vs. decentralized social media on Twitter Spaces. I for one would like to see a liquid market for usernames + the ability to export/migrate followers.

Let’s see if we can get Elon’s attention → Tweet this.

2. Kevin Hart sells Bored Ape NFT for 83% loss

⌐◪-◪ → Famous actor Kevin Hart just sold his Bored Ape NFT for 13.79 ETH ($45k) through bids.

For context, it was purchased 2 years ago for 79.5 ETH ($250k), which makes this a massive 83% loss.

I wonder how much Kevin was involved with this decision or if it was simply made in isolation by his agency/manager.

I suppose short of asking Kevin directly, we’ll never know.

Personally, I’ll never understand why a wealthy Hollywood celebrity like Kevin would take such a big financial/reputational L just to recoup $45k, which I reckon is chump change to him.

3. Binance to discontinue USDC support on the Tron

⌐◪-◪ → Starting April 5th, Binance will end support for $USDC deposits and withdrawals on the TRON blockchain.

While this headline initially struck me as an anti-USDC headline, it’s actually a follow-up to Circle’s own decision to discontinue USDC support on Tron. So funny crypto-politics here.

Users will still be able to trade USDC on Binance and deposit/withdraw USDC on other networks.

Meanwhile, the great stablecoin race is still underway with the top 5 by market cap being

  1. Tether (USDT) → $104B

  2. Circle (USDC) → $32.2B

  3. DAI (DAI) → $5.35B

  4. First Digital USD (FUSD) → $2.62B

  5. USDD (USDD) → $731.9M

And way down in 10th place is PayPal USD at $188.21M market cap, to be honest, I sort of forgot their stablecoin exited haha.

Everything Else

⛓️ Crypto & DeFi

  • Polygon zkEVM resumes operations after 10-hour outage

  • Worldcoin makes eye-scanning code open-source

  • ETH Pectra upgrade to raise validator stake between 32 & 2,048 ETH

  • Attacker mints 1B CGT governance token in Curio ecosystem exploit

  • $200M in OP & DYDX to unlock next week

  • Email phishing scam targeting BlockFi & FTX creditors steals millions

🏦 Wallstreet & VC

🏛️ Legal & Regulatory

  • SEC’s Gary Gensler says crypto could benefit from “disinfectant”

  • SEC and CFTC ask for millions to beef up crypto oversight

  • Government looks to sell luxury jets linked to Sam Bankfman-Fried

  • Coinbase CEO says being against Bitcoin is political suicide

🌎 Rest of the World

🖼️ NFTs & Metaverse

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