Providing Regulatory Clarity (Binance and Coinbase Edition)

The SEC sued Binance and Coinbase this week, presenting the industry with both further analysis on why it thinks certain cryptocurrencies are securities and its biggest test to how cryptos may be regulated in the U.S. going forward.Source

Are DAOs Doomed to ‘Decentralization Theater’?

Consensus 2023 guests highlighted their concerns over ‘decentralization theater’ in DeFi projects, emphasizing the importance of genuine decentralization in the development of the Web3 ecosystemSource

Cut the Jargon, Keep Your Promises: How Crypto Can Fix Its Image Problem

Consensus 2023 attendees argued that improving crypto’s image requires a clearer explanation of digital assets and a focus on tangible, user-centric products and servicesSource

Aave-Developed Lens Protocol Raises $15M to Expand ‘Social Layer’ of Web3

Uniswap CEO Hayden Adams, OpenSea co-founder Alex Atallah, entrepreneur Balaji Srinivasan and Polygon co-founder Sandeep Nailwal joined the round as angel investors.Source

Banks Have Come to the Metaverse

JPMorgan, HSBC and others have created metaverse-native banking experiences, hoping to entice a new generation of clients.Source

Jack Dorsey-backed Nostr Creator Collaborates With Zebedee on New Social Media Layer

Zebedee users will be able to join a waitlist for alpha access to an updated version of the app which will feature integration with decentralized social media protocol Nostr (an acronym for “notes and other stuff transmitted by relays”).Source

ConsenSys’ MetaMask Institutional Integrates With Custody Tech Provider Fireblocks

The partnership, scheduled to go live June 12, will offer greater DeFi and Web3 Access to builder and institutional investors.Source

Crypto.com Integrates With CoinRoutes Smart-Order Routing System

The integration is part of CoinRoutes’ bid to expand liquidity access for its clients.Source

Polygon Spinoff Avail Network Starts Phase 2 of Its Testnet

This second phase will include a more thorough testing environment to encourage validator participation.Source

U.S. SEC Enforcement Could Boost Europe’s Crypto Chances, Officials Say

EU officials are hoping to tempt crypto innovators as Binance and Coinbase complain of regulation by enforcement in the U.S.Source