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StarkWare Scales Bitcoin
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🚀 Bitcoin Scaling Plan by StarkWare
StarkWare's Scaling Vision: StarkWare plans to scale Bitcoin using a $1 million fund for research into OP_CAT, an opcode initially proposed by Satoshi Nakamoto. CEO Eli Ben-Sasson emphasizes the potential unlocked by the 2021 Taproot upgrade.
Controversy and Support: OP_CAT, allowing data concatenation in transactions, has mixed support. Udi Wertheimer and Ben-Sasson support it for scaling without altering Bitcoin's core, but some, like Robin Linus, warn of new security risks.
Community Response and Testing: Testing on Bitcoin's testnet began in April 2024. The community must decide on OP_CAT's revival, balancing scaling benefits with potential risks. Ben-Sasson's team remains committed to their ambitious vision. Read More.
️ On today's Top Picks:
- 🔜 zkSync v24 Mainnet deploys on June 6th.
- 🪂 Taiko launches $TAIKO airdrop.
- 🚀 BlackRock & Citadel to launch stock exchange.
- 💰 Avail raises $43M in Series A funding.
Read time: ⏰ 8 minutes
Crypto News
• ⭐️ StarkWare plans to scale Bitcoin with ZK-STARKs & transform Starknet $STRK into both an Ethereum & Bitcoin L2.
• US Lawmakers urge President Biden to bring Binance executive Tigran Gambaryan home from detention in Nigeria.
• US CFTC adds Aptos $APT Labs CEO Mo Shaikh to digital assets subcommittee.
• Dapper Labs settles NBA Top Shot Moments lawsuit for $4M.
• Watford Football Club to sell 10% of club as digital equity to investors & fans.
• Worldcoin $WLD suspends operations in Spain until end of 2024 or until GDPR audit is complete.
• Paxos launches yield-bearing stablecoin Lift Dollar $USDL in Argentina as its first market.
• Thailand's SEC approves first Spot Bitcoin ETF.
• MoonPay cuts 10% of its staff citing high cost structure & below-expected operating margins.
Alpha
• ⭐️ zkSync to move forward with v24 Mainnet deployment on June 6th.
• Taiko details Trailblazers Program with a blog post on Mirror.
• Superseed posts "TESTNET LOADING... ✱ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓░ 97%" on X.
• Bebop launches support for Taiko Mainnet.
• Jumper May XPs of the Jumper Loyalty Pass will be updated by this weekend.
• RedStone launches 1st RedStone Sprint on Zealy.
• Lava Network advises users to connect Twitter to their Magma account to crack down on bots.
• Snapshot potentially hints at $SNAPSHOT token with post on X.
Airdrops
• OG Of Airdrops by Olimpio.
• ⭐️ Taiko launches Phase 1 of $TAIKO airdrop until July 5th.
• Loopring launches Taiko $TAIKO airdrop for Loopring users.
• Swell outlines $SWELL airdrop & governance plans in The Road to Decentralized Governance blog post.
• Sanctum introduces $CLOUD token, its tokenomics, & airdrop details.
• Aethir outlines $ATH airdrop details in Aethir Cloud Drop: An Airdrop for the Community blog post.
• Pirate Nation introduces $PIRATE token with TGE scheduled for June 13th.
• ionic extends $ION airdrop claim period for 4 weeks.
Finance News
• ⭐️ BlackRock $BLK & Citadel Securities plan to start new national stock exchange in Texas.
• NVIDIA $NVDA surpasses a $3T market cap & briefly surpasses Apple $AAPL.
• Elon Musk reallocates thousands of Nvidia chips from Tesla $TSLA to X & xAI.
• Intel $INTC & Apollo Global Management $APO strike $11B deal for chip-manufacturing facility in Ireland.
• Epoch Times CFO arrested in alleged $67M money-laundering scheme.
Security and Exploits
• SlowMist Weekly Security Report highlights over ~$312M in losses.
• Tether CEO Paolo Ardoino posts that a prominent email vendor used by crypto companies might have been compromised.
• DMM Bitcoin crypto exchange outlines funding plan to cover $300M hack.
• Fuel launches $1.3M Attackathon in partnership with Immunefi.
• Aleo launches $155K ARC-0041 Audit Contest in partnership with SHERLOCK.
Token Unlocks
• Euler / 60.56K $EUL / ~$277K / JUN 06
• Hashflow / 13.62M $HFT / ~$4M / JUN 07
Funding
• Bain Capital Crypto raises money for second fund; first fund worth $560M.
• ⭐️ Avail, a unification layer for web3, raises $43M in Series A funding led by Founders Fund, Dragonfly, & cyber Fund.
• M^0, a decentralized money middleware, raises $35M in Series funding led by Bain Capital Crypto.
• XREX Group, a blockchain-enabled financial institution, raises $18.75M in Strategic funding from Tether.
• Fhenix, an Ethereum L2 powered by FHE, raises $15M in Series A funding.
• Nubit, a Bitcoin-native data availability layer, raises $8M in Seed funding led by Polychain Capital.
• GoPlus Security, a Web3 cybersecurity company, raises $10M in Private funding.
• Cookie3, a MarketingFi & AI data layer, raises $5.5M in Seed & Strategic funding led by The Spartan Group & Animoca Brands.
• Stashh, an omnichain NFT hub, raises $3.3M in funding.
• El Dorado; a Latin America-focused payments platform, raises $3M in Seed funding led by Multicoin Capital.
• Starpower, a decentralized energy network, raises $2M in Pre-Seed funding.
• CARV, a modular data layer for gaming & AI, raises an undisclosed amount in Strategic funding from Intella X.
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PROTOCOL | ASSETS | APY |
---|---|---|
![]() | USDCUSDC | 70.19% |
![]() | MIMUSDCUSDT | 69.96% |
![]() | USDT | 66.11% |
![]() | USDC | 56.48% |
![]() | NUSDC | 55.54% |
![]() | USDCSUSD | 40.88% |
![]() | USDB | 38.54% |
![]() | IUSD | 37.19% |
+$600,000,000 in airdrops was lost | ![]() |
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That’s it for today’s edition! See you soon.
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