Collective Shift

The team breaks down the news this week involving Coinbase & the SEC. Further, they discuss multiple tokens being delisted from exchanges and how this has impacted the market.

Key Takeaways 

• The SEC sued Coinbase, one day after suing Binance. Two distinct lawsuits. 
• Altcoins crash after delistings from certain platforms. Chilling effect in effect.
• Bank of China’s investment arm issued tokenised notes on Ethereum. Adoption continues amid a chaotic week.
• CommBank restricts withdrawals to crypt exchanges, citing security concerns.

The team breaks down the critical lawsuit filed by the U.S SEC against Binance. The Markets reacted as other cryptocurrencies have been named in the Lawsuit, including BNB, Solana, Cardano, Polygon, Cosmos. 

Key Takeaways

• Markets fall after the SEC sues Binance. The U.S. crypto strangle continues.
• Collective Shift advises ‘not your keys, not your coins’. Remove your crypto from exchanges.
• The “biggest piece of crypto legislation for this year” dropped in the U.S. Early stages, but encouraging to see!
• Crypto winter continues with Nansen and Binance laying off staff. All a part of crypto’s growth cycle.
• El Salvador raises $1M for new Bitcoin mine. Bullish.
• Prices Crash As SEC Sues Binance: What It Means For Long-Term Investors
• Australian Interest Rates

Key Takeaways:

1. Validators help secure the Ethereum blockchain and are compensated with ETH staking rewards.
2. The rate of return, or APY, changes based on various factors.
3. There are 4 ways to stake ETH:
4. Solo staking: Full rewards but requires 32 ETH and relatively high technical knowledge.
5. Staking as a service: It still requires 32 ETH. Must pay a small fee.
6. Pooled staking: The most popular option because you don’t need to have 32 ETH. Must pay a small fee.
7. Centralised exchanges: Usually offers the lowest rewards. Only option with exchange risk.
8. Staking is not risk-free. Each of the 4 options include different types of risks. The ‘best’ option for you will depend on your skill level, goals and risk tolerance.

The team discusses the new deal to raise the US debt limit. They also cover Ledger and the postponement of their new ledger recover program. 

• Crypto rebounded, but not by enough for May to be the market’s first monthly loss of 2023.
• A deal to raise the U.S. debt limit was finally reached, preventing the U.S. government from defaulting.
• Hong Kong will allow residents to trade certain cryptocurrencies as of June 1. Bullish news overall but unlikely to move markets in the short term.
• Ledger postponed the release of its controversial new service. Ledger owners can confidently upgrade their firmware in the interim.

Our Senior Research Analyst, Nick, explains why Solana and its ecosystem are far from dead, 6 months after many crypto enthusiasts wrote it off after FTX's collapse. He shares 3 reasons why he's encouraged by the recent progress the Solana ecosystem has made.

Solana is a blockchain optimised for smart contracts, similar in many ways to Ethereum and Avalanche. The native token of Solana is SOL.

Timestamps:

00:00 Intro

00:41 Solana vs Ethereum

03:14 Modular vs Monolithic

04:05 Firedancer by Jump Crypto

06:00 Blockchain Clients

06:38 Compressed NFTs

08:56 Community Strength

12:00 Outro

Our Head of Research, Matt, explains Ledger Recover, a new opt-in service offered available for owners of certain Ledger hardware wallets. He explains why the announcement of Ledger Recover was met with heavy criticism and confusion among the crypto community.

Other topics discussed include the risks of Ledger Recover, why it the service may be appealing to some people, and whether Ledger the company will be able to survive this heavy backlash.

Timestamps:

00:00 Intro

00:23 Ledger Recover

01:43 Community Backlash

03:59 Are Ledgers Safe?

06:19 Tradeoffs

07:35 Ledger's Miscommunication

11:05 Don't Panic & Await Clarity

12:40 Form Your Own Opinion

13:49 Security Self-Audit

14:11 Outro

The team discusses the communities reaction to Ledger's new service. They also cover Tether and their decision to buy Bitcoin with their profit. 

Key Takeaways 

1. The Debt Ceiling may be raised for the 79th time. 'Printer go Brrr'.
2. Bitcoin Miami 2023, a major conference was lackluster this year.
3. Tether announces buying Bitcoin with its profits. Bullish.
4. Ledger angers the crypto community with a new service. See Matt's post. 
5. Visa is excited about Ethereum Account Abstraction with new post. 
6. Pudgy Penguin's debuts physical toys on Amazon, they sold out.
7. Regulatory news continue; SEC enforcement on Grayscale & FIL, Binance suspends AUD PayID and DeFi may soon be regulated.
8. Withdraw your coins from Hotbit, which is shutting down.

Timestamps:

00:00 Market Update

04:00 Tether

06:29 Ledger

12:00 Visa

18:03 NFT's

22:00 Regulation

27:40 Alpha

30:20 HotBit

31:58 Optimism

32:39 Tornado Cash

In this guide, we'll be discussing everything you need to know about airdrops. Airdrops are a popular way for blockchain projects to distribute tokens to a wide audience. we'll be covering the basics of airdrops, including what they are, how they work, and the benefits and risks involved. We'll also take a look at some successful airdrop campaigns and provide you with key takeaways to keep in mind when participating in airdrops. So whether you're a crypto beginner or an experienced investor, this episode will give you the knowledge you need to get started with airdrops.

Key Takeaways:

1. Airdrops are a way to distribute tokens for free, and they can provide benefits such as increasing adoption and community engagement.
2. Participating in airdrops can have risks, such as the potential for scams, high transaction fees, and tax implications.
3. To participate in airdrops, users need to be mindful of the eligibility requirements, including holding the required tokens or completing certain tasks.
4. Overall, airdrops can be a valuable way for both projects and users to benefit from the growing blockchain ecosystem, but it's important to approach them with caution and do your research before participating.

Resource Link: HERE

Timestamps: 

00:00 Airdrops

00:40 Why Airdrop?

01:00 Types of Aidrops

02:36 Airdrop Strategies

05:20 Is it Worth it? 

Our Senior Research Analyst, Nick, explains what's ahead for the Ethereum blockchain, following its upgrade in April which enabled ETH withdrawals. Ethereum is the largest smart-contract blockchain and its cryptocurrency, ETH, is the second-largest by market cap.

Topics covered in this video include the EIP-4844 upgrade, scaling Ethereum, layer-2 solutions, and improving the user experience for Ethereum users.

In this weekly recap, Matt and Nick discuss whether Tether buying large amounts of Bitcoin (BTC) is the most bullish of news of the year so far. They also discuss PayPal integrating with the MetaMask wallet and MicroStrategy announcing a product built on Bitcoin's Lightning Network.

Ethereum's performance issues was another topic of conversation. They explain how the Ethereum blockchain did not go down, but its performance was severely degraded. If this keeps happening, it'd be cause for concern. 

Timestamps:

00:00 Intro

00:15 Market Update

01:54 Tether Buying Bitcoin

08:08 MetaMask x PayPal

10:28 MicroStrategy x Lightning Network

12:02 Ethereum Finality Issues

18:01 Solana Saga

18:25 MakerDAO

20:16 Worldcoin

22:22 Aave Treasury

24:09 Lido V2

24:47 Bitcoin Miami

26:48 Jump Crypto

28:40 Goldman Sachs Report

31:32 Outro