Wendy O
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Former Alameda CEO Reportedly Taps Ex-SEC Crypto Regulator as Lawyer; Cathie Wood's Ark Buys More COIN
Bloomberg reports that former Alameda CEO Caroline Ellison recently hired Stephanie Avakian and law firm WilmerHale. Avakian is a former enforcement division chief at the Securities and Exchange Commission (SEC) who worked on several high-profile cases against figures like Elizabeth Holmes and Elon Musk. Plus, Cathie Wood's Ark Investment Management said in an email it bought 78,982 shares in cryptocurrency exchange Coinbase (COIN), its first investment in the crypto exchange in a month.
Coinbase Asks Users to Switch USDT for USDC; More Reported Crypto Layoffs
Coinbase is waiving the conversion fees for users switching to a "trusted stablecoin" in a new campaign that highlights the quality of reserves that back Circle-owned USD Coin (USDC). Meanwhile, crypto trading firm Amber Group is terminating a $25 million sponsorship deal with football club Chelsea F.C. amid new layoffs, according to a Bloomberg report. And Forum3 Co-CEO Adam Brotman joins "The Hash" to discuss connecting one of the world’s most successful retail loyalty programs with Web3.
Ethereum Developers Target March 2023 for Release of Staked Ether; Starbucks' Web3 Splash
Ethereum developers determined the network’s next hard fork, called “Shanghai,” will have a target release time frame of March 2023. This upgrade will include code known as EIP 4895 that will allow Beacon Chain staked ether (stETH) withdrawals. Plus, Starbucks Odyssey launches its Web3-powered experience in beta to certain rewards members of the coffee giant in the U.S.
Three Arrows' Founders Subpoenaed in US Bankruptcy Case; Guiding Mainstream Brands Into the World of Web3
A New York bankruptcy judge has agreed to issue subpoenas against the founders of Three Arrows Capital as liquidators seek to wind down the collapsed crypto fund. Plus, Vayner3 President Avery Akkineni joins "The Hash" to discuss how she is onboarding mainstream companies into Web3 and why much of corporate America still has a crypto appetite.
ConsenSys to Update MetaMask Crypto Wallet in Response to Privacy Backlash; Bitcoin Mining Outlook
ConsenSys, the company behind the MetaMask crypto wallet, will release a series of updates to the platform in response to user backlash regarding its data-collection practices. Plus, Gridless, a bitcoin mining company that helps generate new sources of energy in rural communities in East Africa, secures $2 million in a seed investment round led by bitcoin venture-capital firm Stillmark and payments company Block, a firm that is led by Twitter co-founder Jack Dorsey.
