Sup, nerds!

Here’s what you’re getting in today’s edition:

• 💅 This is cool: How many years will SBF get?

• 🔎 This seems important: The Good News Catalogue (Pt. 8)

• 🤝 Partner: Have a Web3 company? You might want to read this…​

• 🔪 Let's dissect this: The world’s most hated blockchain...

Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
Blockchain, Stablecoin.

💅 This is cool:

How Many Years Will SBF Get? (40-50, According to the Internet)

In one sentence: According to the crypto betting site Polymarket, the internet is wagering that SBF will get 40-50 years in prison for his part in the FTX collapse.

You know that turn of phrase “If I were the betting type…”?

E.g. When Chevy alludes to the idea that he and Keith Urban are personal friends, just because he saw him once at an airport Sweetgreen…

The expected/appropriate response is: 

“If I were the betting type, I’d wager that’s a bunch of malarkey.”

(…or if for some reason you don’t use slang from the early 1900’s — you might “wager that it’s a bunch of bs”).

Well, the internet is playing the exact same game with Sam Bankman-Fried’s potential jail time.

So far, the internet is saying:

“If I were the betting type, I’d wager that SBF gets 40-50 years.”

And at the time of this writing, folks are putting their money with their mouths are, to the tune of $428k.

($93k worth of which is weighted towards a 40-50 year sentence).

Our two cents?

As long as its north of 30 years, it should put a solid close to the god-awful chapter in crypto that was ‘The FTX Collapse.’

🥇 Want the news before anyone else?

🔎 This seems important:

The Good News Catalogue (Pt. 8): Three Pieces of Positive News That’ll Give You the Zoomies

In one sentence: Coinbase’s supply of BTC just hit a 9yr low, $390B has been added to the crypto market since Weds, and the UK is getting crypto ETNs (UK’s version of an ETF).

You might want to take a baby aspirin…

Cause we have three pieces of good news that’ll make your Apple Watch notify you of an elevated heart rate, while fully seated.

Ready? Here goes.

1. Coinbase’s supply of Bitcoin just hit a 9 year low!
   
   All of that Bitcoin selling coming from the Grayscale ETF, which we talked about yesterday?
   
   It has been met with massive demand, with the market buying up every single BTC Grayscale has to spare (a very healthy sign!)
    

2. $390B has been added to the crypto market since Wednesday.
   
   And with that, comes price appreciation! Over the weekend, the market rebounded from its no-good-very-bad-week, with…
   
   BTC reclaiming $70k (up from $60k)
   ETH hitting $3.6k (from $3k), and…
   SOL reaching $194 (up from $162)
    

3. The UK is getting crypto ETNs (aka the UK version of an ETF)!
   
   Grey cloud: these ETNs will only be available to ‘Professional Investors’ (aka folks with a net worth of 2M EUR or more).
   
   Silver lining: smaller investors don’t really need ETNs, because they don’t have mandates restricting them from buying crypto directly.
   
   Blinding sunlight: Both Bitcoin and Ethereum ETNs are on the books, and due to launch as soon as May 28th.
   
   Here’s the math on that:
   
   More ways for ‘big dog’ investors to buy BTC/ETH = the potential for more investment (and increased prices) over time.

This — and we cannot stress it enough — we love to see.

🤝 Partner:

Have a Web3 Company? You Might Want To Read This…

What do these three quotes have in common?

1. “Their team has the most proficient and knowledgeable security experts I know in the [Web3] space.”
   

2. “[They] came back with workable exploits and improvement suggestions in record time.”
   

3. “I can’t recommend this team highly enough for crypto specific security audits.”

They’re all real quotes from past clients of Coinspect. 

It’s hard to stress the importance of security audits in the Web3 space enough – one vulnerability can literally break your company!

And the scary thing is, you won’t even know they exist…until it’s too late.

(It’s enough to lose sleep over!)

Good news is: an audit from Coinspect can help identify and patch those vulnerabilities.

If you have a Web3 company and you’re yet to have an external team do a tailored security audit on your systems, reach out to the Coinspect team today.

They’ll create a customized audit that works specifically for your needs.

Ready to start sleeping better? Hit the big red button 👇

🔪 Let's dissect this:

Tron: The World’s Most Hated Blockchain

In one sentence: Binance will no longer support $USDC on the Tron blockchain, following Circle’s announcement last month that they would be removing $USDC from Tron.

Hot gossip!

Binance just announced it’s discontinuing support for $USDC on the Tron blockchain, just one month after Circle made a similar announcement. 

Which — when added together — could deal a pretty heavy blow to Tron’s trustworthiness and stability.

Here’s what all of that means: 

$USDC is the second largest player in the stablecoin space, and Circle (the company that runs it) is known for its transparency and security. 

The team runs blockchain assessments and scans to ensure everything they touch is transparent, secure, and follows regulation.

Point is: they’re very well trusted in the space.

(Good/great/we love it/two thumbs up!)

Now…

Just last month, Circle announced it was pulling $USDC off of the Tron blockchain (which also hosts $USDT — $USDC’s largest competitor) due to ‘security concerns.’

Which is where Binance comes in. 

Of late, Binance is very much Circle’s opposite as far as ‘industry trust’ goes — thanks mostly to CZ (Binance’s former CEO) being found guilty of money laundering by a US court.

(Yikes!)

Now, for Binance to restore its image, it’s of the utmost importance that they are seen to be compliant, transparent and secure — which is probably why they were quick to follow Circle’s lead in dropping support for Tron based $USDC.

(Can you see the snowball forming as it rolls down this metaphorical hill?)

The larger risk for Tron (and all of its associated tokens) is now this:

• Others in the industry play the “where there’s smoke there’s fire” game, and pull their support for the blockchain

• Which in turn, inspires users to move their assets off Tron (ASAP)

• And too much selling pressure all at once can lead to a collapse in price

Is that what’s happening here?

No idea. But better to be safe than sorry with these sorts of things.

(Cause if a blockchain can’t deal with heavy sell pressure, it’s not deserving of your money).

The Easiest Way to Convert Cash Into Crypto [partner]

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If you want a seamless, hands off fiat-to-crypto conversion & payment experience: Click this link to buy crypto right away; or look for the MoonPay logo within your chosen crypto app!

What is Tron?