Supreme Court Supports Ripple's Argument in SEC Case, Backs Law Adaptation
As the high-stakes legal battle between Ripple and the Securities and Exchange Commission (SEC) approaches its summary judgment, legal experts are speculating about the potential outcome. Stuart Alderoty, chief legal officer of Ripple, recently shared a significant development on Twitter that could potentially reshape the interpretation of securities laws in the digital age. Alderoty highlighted a recent Twitter opinion by the Supreme Court, emphasizing the crucial role of adapting legal factors from previous cases to suit the evolving landscape of the new world. This recognition aligns with Ripple’s central argument, asserting that the Howey test and its accompanying statute should be interpreted within the common law framework. Additionally, the unsealing of the Hinman documents, which provide insight into how the regulator initially categorized cryptocurrencies such as Bitcoin and Ethereum as securities, is set to take place on June 6.
"LayerZero Protocol Launches Airdrop for Early Adopters to Simplify Blockchain Interoperability"
LayerZero, a blockchain interoperability protocol valued at $3 billion and backed by major players such as A16z, Sequoia Capital, and Coinbase Ventures, is launching an airdrop for early adopters. The protocol aims to simplify the user-side transition of money between incompatible substrates and allows direct transactions between different blockchains. To participate in the airdrop, users must interact with certain bridges supported by the interoperability protocol using their own non-custodial wallet, such as MetaMask, and stake STG tokens on the bridge platform. Active users who stake STG on the bridge platform and participate in on-chain discussions may be rewarded in the event of a future airdrop. LayerZero technology offers several bridges, including Bitcoin Bridge, Aptos Bridge, and SushiSwap Bridge, that allow for on-chain transfers between different blockchains. It is recommended to avoid transactions with the Ethereum network to save on fees.
Cardano Makes Strides in Smart Contracts and Scalability to Challenge Ethereum Dominance
Cardano, a blockchain platform often referred to as an "Ethereum killer," is making strides in smart contracts and scalability. The network, created in 2017, aims to challenge Ethereum's dominance in the dApp space with a focus on scalability, security, and energy efficiency. Recent developments such as Hydra and an increase in smart contracts have bolstered Cardano's position as a competitor to Ethereum. While Cardano still trails behind Ethereum in terms of adoption and dApp ecosystem, it has the potential to become a major player with continued progress and widespread adoption.
Charles Hoskinson Criticizes Ethereum Classic and Ledger Hardware Wallets in Candid Opinions
Charles Hoskinson, the creator of Cardano, has been vocal about his criticism of Ethereum Classic (ETC) and Ledger, a hardware wallet manufacturer.
Ether Holders Rush to Stake Tokens as Total Volume of Crypto-Asset Staked Surpasses 20 Million
The recent Shapella upgrade on the Ethereum network has led to a surge in deposit activity, with ether holders rushing to stake their tokens with network validators. This has resulted in the total volume of crypto-asset staked exceeding 20 million, a significant milestone.
Ether staking surge helps small players chip at Lido’s dominance: ‘A good thing’ for DeFi
The amount of Ether staked through liquid staking providers Rocket Pool and Frax Ether has grown 38% each over the past month, outpacing industry leader Lido. This suggests that investors are opting for smaller players to stake their Ethereum in order to diversify away from Lido's dominance, which threatens Ethereum's decentralisation. The recent move by Lido to enable staking withdrawals on May 15 may help bring its dominance down as people seek other pools or start solo staking. Despite growing at a faster pace than Lido, Rocket Pool and Frax Ether still trail in terms of total staking deposits.
VanEck sees Ether soaring 27-fold to $51,000. Or, it could sink to $300
Investment management firm VanEck has predicted that the price of Ether, the transactional cryptocurrency of the Ethereum network, could rise to $51,000 or fall to $300 by 2030. The company sees a base case scenario of an $11,800 Ether price. VanEck expects Ethereum to remain the dominant blockchain settlement network and predicts its annual revenue will hit $51bn by 2030. The investment manager also believes that state actors looking to maximise human capital will view ETH as a store-of-value asset. Despite competition from other layer 1 blockchain networks claiming superiority over Ethereum in terms of faster transaction speeds at cheaper costs, it continues to dominate all other layer 1 networks in terms of economic activity.
Space Pepes Outpace Bored Apes and Bitcoin Frogs as Top-Selling Bitcoin-Based NFT Collection
Space Pepes, a collection of unique Bitcoin-based digital collectibles, has surpassed Bored Ape Yacht Club and Bitcoin Frogs in trading volume over the past 24 hours, according to CryptoSlam data.
BitDAO Merges with Mantle to Establish DAO-led Web3 Ecosystem
BitDAO, the world's largest DAO by treasury size, has partnered with Mantle, a high-performance modular L2 blockchain built on Ethereum, to create a DAO-led web3 ecosystem called the Mantle Ecosystem.
The Evolution of AirDAO: Embracing Decentralization and Empowering Community Governance
AirDAO is a Decentralized Autonomous Organization that manages the Ambrosus Blockchain (AMB-Net) and its suite of dApps.
