Ethereum Is A Security

Alpha-Team
March 20, 2024

📈 SEC's Ethereum Security Stance

SEC Targets Ethereum: The SEC is aiming to classify Ethereum as a security, impacting its future and possibly affecting the approval of a Spot Ethereum ETF.

Subpoenas Issued: The SEC has subpoenaed U.S. companies related to an investigation into Ethereum, particularly since its shift to a proof-of-stake model in 2022.

Investigations Underway: Investigations focus on Ethereum's governance model change and interactions with the Ethereum Foundation. No official confirmation has been received from the Foundation. Read More.

️ On today's Top Picks:

🏦 BlackRock launches $100M fund on Ethereum.
🪂 Saga Mainnet set to launch in April.
📈 Federal Reserve leaves interest rates unchanged.
💰 Morph raises $20M in Seed funding.

Read time: ⏰ 7 minutes

Crypto News

• US SEC pursues legal campaign to classify Ethereum $ETH as a security.

• BlackRock launches $100M tokenized digital asset fund on Ethereum $ETH.

• MicroStrategy aquires an additional 9,245 Bitcoin $BTC for ~$623M.

• Genesis pays $21M penalty as part of a settlement over SEC charges.

• Sam Bankman-Fried's defense team pushes back against 40 - 50 year prison sentence recommendation.

• Do Kwon to be extradited to South Korea as Montenegro court rejects appeal.

• Netherlands indicts Tornado Cash developer Alexey Pertsev alleging he helped launder $1.2B in illicit funds.

Alpha

• Taiko launches Exploring Taiko with OKX Wallet campaign on Galxe.

• Linea Park Week 5 Mini-Game Gala is live on Layer3.

• Fluent releases Road To Mainnet details.

• Avantis raises vaults capacity for liquidity providers.

• DeBank releases EtherFi $ETHFI Airdrop Hunter Web3 Badge.

• RWA Report 2024 by CoinGecko.

Airdrops

• Polyhedra $ZK airdrop is live.

• Saga posts, "Saga Mainnet. April 2024." on X.

• Starknet fixes airdrop status for three groups of users.

• Omni Network releases details on $OMNI as Mainnet launch approaches.

Finance News

• US Federal Reserve leaves interest rates unchanged at 5.25% - 5.50%.

• GPIF, Japan's largest pension fund seeks information on Bitcoin $BTC as part of diversification plan.

• Bakkt $BKKT replaces CEO amid warnings of NYSE delisting.

• Intel $INTC awarded $8.5B in funding for semiconductor manufacturing in the US.

Security and Exploits

• ParaSwap V6 contract exploited for ~$400K due to vulnerability.

• Trezor X account was temporarily compromised.

Token Unlocks

• Immutable / 34.19M $IMX / ~$88M / MAR 21
• SpaceID / 78.49M $ID / ~$125M / MAR 21
• Acala / 4.66M $ACA / ~$776K / MAR 24

Funding

• Morph, an Ethereum L2 network; raises $20M in Seed funding led by Dragonfly.

• Mantra, a regulatory compliant RWA infrastructure; raises $11M in funding led by Shorooq Partners.

• Umoja, a smart money protocol; raises $4M in Seed funding.

• GVRT, a self-custodial CEX; raises $2.2M in Strategic funding.

• EarlyFans, a SocialFi project on Blast; raises $1.5M in Seed funding.

• HyperPlay, a web3-native game store; raises an undisclosed amount in Strategic funding from Square Enix.

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PROTOCOL	ASSETS	APY
Uniswap V3 (Ethereum)	USDCWCOMAI	84.98%
Notional V3 (Arbitrum)	NUSDC	82.66%
Aerodrome (Base)	DOLAUSDC	82.26%
Turbos (Sui)	USDTUSDC	57.42%
Solv Funds (Arbitrum)	USDT	46.96%
Curve DEX (Ethereum)	IDAIIUSDCIUSDT	45.70%
Ethena (Ethereum)	SUSDE	43.98%
Jones DAO (Arbitrum)	JUSDC	40.81%