TLDR Crypto Daily Update 2022-09-21

FTX/Binance bidding war 💰, OpenSea adds Arbitrum 🖼️, Robinhood adds USDC 🪙

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Markets & Business

Crypto Exchanges Binance and FTX Have Both Bid Roughly $50M for Voyager’s Assets (1 minute read)

Binance and FTX have made bids of around $50 million for Voyager Digital's assets. Binance's bid is slightly higher than FTX's. Voyager's assets are being sold in a bankruptcy auction. The final results of the auction are expected to be announced on September 29.

Trading App Robinhood Markets Adds USDC to Its Crypto Lineup (2 minute read)

Robinhood has added Circle's USDC stablecoin to its crypto offerings for retail traders. The introduction of USDC is a sign that the platform is looking at international markets where the usage of stablecoins is more popular and useful for investors. It will allow Robinhood users to send payments for a wide variety of purposes. Robinhood's chief technology officer will be speaking about the integration at the Converge22 conference in San Francisco next week.
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Innovation & Launches

Nova Labs teams up with T-Mobile for crypto-powered Helium Mobile service (3 minute read)

T-Mobile and Nova Labs, the company behind the Helium network, have announced a five-year deal to provide 5G access to Helium subscribers. Helium Mobile subscribers will be able to access both Helium's 5G network and T-Mobile's wireless network throughout the US. The service will officially launch in the first quarter of 2023. There are currently over 900,000 Helium hotspots around the world. Hotspot owners are rewarded with crypto for each interaction on the network.

OpenSea will soon support Arbitrum (1 minute read)

OpenSea is launching support for Arbitrum. Creators will need to find their collections on OpenSea and set their creator fees directly. They should do this at launch to be ready for any new transactions. The launch is scheduled for sometime today.
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Guides & Resources

On building mobile first (11 minute read)

Billion dollar businesses take years of effort to develop. Consumer-facing mobile apps have been the biggest driver of growth in the industry in the last five years. They are able to onboard retail users who don't want to care about private keys and protocol maximalism. This article explores the motivations, macro-trends, and opportunities that could be tapped into by founders looking to build in the industry. Mobile-first applications make services more accessible to a larger population.

DAOs are not corporations: where decentralization in autonomous organizations matters (19 minute read)

This article offers a detailed perspective about where different kinds of decentralization are important. It focuses on three types of situations where decentralization is important: when decisions need to be made in concave environments, censorship resistance, and as a method to ensure credible fairness. Concave decisions prefer compromise, so large amounts of diverse input going into decision-making can make a lot of sense. Decentralizing power prevents any single party from having too much control and makes things fairer.
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Miscellaneous

Crypto market maker Wintermute loses $160 million in DeFi hack (2 minute read)

Wintermute, a crypto market maker, has lost around $160 million in a hack. The hack only affected the firm's decentralized finance operations. Wintermute's centralized finance and over the counter verticals were not affected. The firm remains solvent and lenders are able to recall their loans if they wish. There will be a disruption in its services potentially for the next few days.

Colorado Becomes First US State To Accept Bitcoin As Payment For Taxes (2 minute read)

Colorado citizens can now use cryptocurrency to pay individual income tax, business income tax, sales and use tax, withholding tax, severance tax, and excise fuel tax. People interested in paying tax with cryptocurrency will need to use a PayPal account with the entire value of their invoice in a single cryptocurrency. They will be charged an additional $1 plus 1.83% of the payment amount in fees. The state is not looking to hold any cryptocurrencies on its balance sheet.

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Uniswap V3 Development Book (Website)

This site contains a yet-to-be-finished guide on how to build Uniswap V3.

Decentralized Finance Protocol Coin98 Unveils Native Stablecoin CUSD (2 minute read)

CUSD is a dollar-pegged, decentralized stablecoin from DeFi platform Coin98 that supports its value through USDC and BUSD held in reserves.

Hackers in Arbitrum’s Inbox (4 minute read)

This article discusses a vulnerability that affected depositors attempting to bridge funds from Ethereum to Arbitrum Nitro.

Binance Expands Stablecoin BUSD to Polygon, Avalanche (2 minute read)

Binance's BUSD stablecoin is now available on Ethereum, BNB Chain, Avalanche, and Polygon.

Nasdaq Readies Crypto Custodial Offering For Institutional Players (2 minute read)

Nasdaq has a new digital department and it plans to offer crypto custodial services to institutional investors.

SEC Suit Hints at Case for US Jurisdiction Over Ethereum Network (3 minute read)

The SEC claims that Ether transactions originating from the US and validated by nodes clustered more densely in the US than any other country are under US jurisdiction.

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