🥊Uniswap Readies For Legal Battle With SEC

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Uniswap Labs, the company behind the leading decentralized exchange, Uniswap, said it is “ready to fight” after receiving a Wells Notice from the SEC. The regulator issues Wells Notices to entities it plans to bring future enforcement actions against.

Bitcoin’s web3 ecosystem continues to grow, with Nomic DAO and Babylon Bitcoin teaming up to launch a BTC liquid staking token for the Cosmos ecosystem. Runestones, an NFT-like Ordinals collection, also flipped Bored Ape Yacht Club by market cap.

In other news, EigenLayer AVSs attract $500 million in 24 hours, users converge on FriendTech amid airdrop anticipation, Marginfi’s CEO and founder resigns, Masa Network launches a data and AI marketplace, and Layer N’s testnet is live.

Plus, Chainlink has entered the cross-chain bridging space with the launch of its Transporter application.

✍️ In today’s newsletter:

• Uniswap Labs receives SEC Wells Notice
• Bitcoin liquid staking on Cosmos
• Runestones overtakes BAYC
• EigenLayer AVSs absorb $500M
• FriendTech adoption surges
• Marginfi CEO abandons ship
• Masa Network joins web3 AI race
• Layer N’s testnet is live
• Chainlink launches Transporter bridge

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📈 Markets in the last 24 hrs:

🎬 WATCH

Check out our interview with founder of Script3, to learn about Blend Capital, its Stellar-based lending protocol deployment platform. Also, watch our podcast with Mike Silagadze, the founder of EtherFi, and Nikhil Raghuveera, the co-founder of Aethos, for a preview of EigenLayer’s AVS ecosystem.

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🦄 SEC Moves to Sue Uniswap Labs; Team is "Ready to Fight"

Uniswap Labs, the company behind Uniswap, is gearing up to do battle with the U.S. Securities and Exchange Commission after receiving a Wells Notice from the agency. The SEC issues Wells Notices to entities it is preparing to file a formal complaint against. Uniswap hosted $16 billion worth of trades during the past week.

🥩 Liquid Staking Lands On Bitcoin As Layer 2 Race Heats Up

Cosmos-based projects Nomic DAO and Babylon Bitcoin have teamed up to launch a liquid staking token for BTC. Babylon allows users to secure Cosmos-based chains by staking BTC in exchange for native token rewards. The news comes amid expanding DeFi use cases for Bitcoin in web3.

⬆️ Bitcoin Ordinals Are Dominating NFT Trading

Runestones, a Bitcoin Ordinals collection recently airdropped to existing Ordinals holders, has overtaken Bored Ape Yacht Club by market cap. The move coincides with Ordinals driving three-quarters of revenue for NFT trading venues.

🚀 First 24 Hours of EigenLayer Brings $500M In Delegated Stake As TVL Hits All-Time High

Actively Validated Services (AVSs) secured by EigenLayer absorbed $500 million worth of delegated staked Ethereum in 24 hours following the mainnet launch of the pioneering restaking protocol. EigenLayer already hosts 28 AVS operators, including ventures from Coinbase, Google Cloud, and Blockdaemon.

🪂 FriendTech Sees Renewed Interest Ahead Of Anticipated Airdrop

Airdrop opportunists are once again congregating on FriendTech, with the protocol boasting $7.4 million in inflows and hosting 40,000 transactions on April 8 as speculators anticipate the platform will soon launch a token. The momentum comes amid surging socialfi activity, with Lens and Farcaster both enjoying a recent boost in adoption.

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🚶‍♀️ Marginfi CEO Resigns Amid Points Controversy and SolBlaze Dispute

Edgar Pavlovsky, the founder and CEO of the Solana-based margin protocol, Marginfi, has resigned from the project. Pavlovsky’s departure comes amid increasing pressure on Marginfi to launch a token for loyalty points holders and a public spat with the Solana-based staking protocol, SolBlaze.

🤖 Masa Network Launches Marketplace For Tokenized Data To Train AI Models

Masa Network is joining the race to bring AI to web3 with the mainnet launch of its decentralized data and AI marketplace. Users can earn tokens in exchange for securely providing data that developers can access to train AI models via the platform.

🌐 Layer N Launches Testnet, Aims To Host Unified Ecosystem Of Appchains

Layer N has deployed the first phase of its testnet launch, allowing users and developers to explore NordVM, a high-performance appchain rollup facilitating thousands of trades per second and advanced margin trading features. Layer N bills itself as a Layer 2 execution environment aiming to provide a gateway to a network of interoperable rollups via a unified interface.

🌉 Chainlink Launches Cross-Chain Bridging App ‘Transporter’

Chainlink launched Transporter, a token bridge leveraging its recently booming Cross-Chain Interoperability Protocol. Transporter boasts initial support for Ethereum, Layer 2 networks Arbitrum, Base, Optimism, the Polygon PoS sidechain, and Layer 1 networks Avalanche, BNB Chain, and Wemix.

🌍 ELSEWHERE

• BlackRock tokenized BUIDL fund now convertible to USDC 24/7 via Circle integration (CryptoSlate)
• Former Ethereum Adviser Intends to Sue U.S. Government for $9.6B Over Dropped Extortion Charges (CoinDesk)
• London mayoral candidate wants to give £100 in crypto to every resident (The Block)

🔥 TRENDING

• Aave Reduces MakerDAO's DAI Collateral After Proposal to Completely Eliminate It
• Do Kwon And Terraform Labs Found Liable For $40 Billion Fraud
• Markets Rally as Old Holders Are Met By New Money
• Ethena Labs ENA Launches at $1 Billion Market Cap Post Airdrop As “Sats Campaign” Kicks Off
• Chile Stands to Lead Latin America For Crypto Regulation, Even as it Lags in Adoption
• Airdrop April Continues as Solana NFT Platform Tensor Launches Token
• Vana Launches DAO Allowing Users To Control and Sell Their Reddit Data
• AI-Powered Web3Firewall Raises $2.5 Million Round Led By Nomura's Laser Digital
• The Bitcoin Halving Is 19 Days Away — How Did BTC Perform In Past Cycles?
• BlackRock Adds Five New Firms To ETF, Including Goldman Sachs, Citigroup
• Sushi Team Under Fire For Proposed Treasury Takeover
• Crypto Markets Bounce As Hedge Funds Pile On Bitcoin Shorts
• nuco.cloud Transforms with Rebrand to Become Global Cloud Computing Leader