📅 Ethereum's big day!

Markets

Less than 1% of staked ETH estimated to sell after Shanghai upgrade (2 minute read)Glassnode, an on-chain intelligence platform, has made a prediction regarding the unlocking of staked Ether (ETH) on the Beacon Chain during the first week of the upcoming Shanghai hard fork on the Ethereum network. According to their report on April 11, only 170,000 ETH out of the total 18.1 million ETH staked will be unlocked during this period, with 100,000 ETH ($190 million) coming from staking rewards and 70,000 ETH ($133 million) from staked Ether. Glassnode explained that this prediction is based on the fact that only 253 depositors are currently waiting to exit their stake and that measures have been put in place to prevent a sudden surge of Ether supply flooding the market.

Binance US to Delist Justin Sun's Tron Token Next Week (3 minute read)Binance US, the American arm of the world's top cryptocurrency exchange Binance, has declared its intention to remove TRON (TRX) and Spell (SPELL) from its trading platform. The delisting is set to take effect on April 18, but users will still be able to withdraw their TRX and SPELL tokens, although trading and deposits will no longer be available. Binance US has stated that it will continue to support USDT and USDC stablecoins issued on the TRON network. The decision to delist was made following a regular review process, in which the exchange assessed various factors such as trading volume, liquidity, and regulatory status in the U.S.

Tron founder Justin Sun not arrested, cites FUD meant to trigger a market reaction (3 minute read)Tron founder Justin Sun has refuted claims that he was arrested, dismissing it as FUD spread by individuals seeking to discredit him. The rumor of his arrest had circulated on social media after FXhedge, a trusted source, reported it. The source's reputation gave the rumor credibility, and Sun's tweet about his arrival in Hong Kong added to the speculation. However, Sun has denied the allegations. Industry players have come forward to discourage such rumors, with Binance CZ stating his disapproval and blocking individuals who spread FUD.

Tech

Ethereum’s Shanghai Upgrade: Here’s Our Guide to Watch Parties, Blockchain Tools (2 minute read)The highly anticipated "Shapella" upgrade on the Ethereum blockchain, scheduled for Wednesday, is expected to be a significant event in the world of cryptocurrency. It has been compared to other historic moments in crypto, such as last September's "Merge" and the quadrennial bitcoin halvings. For those unfamiliar with the industry, it's similar to watching a solar eclipse in the middle of a pasture. Ethereum and blockchain communities are planning watch parties, and analysts and historians are preparing to monitor the first-ever withdrawals of staked ether, which is a significant development for Ethereum and the entire crypto industry.

S. Korean Crypto Exchange Gdac Hacked for Nearly $13M (1 minute read)South Korean cryptocurrency exchange Gdac reported a hack on Monday, revealing that nearly $13 million worth of digital assets had been stolen the day before. The hackers took approximately 23% of the exchange's total custodial assets, transferring the funds from Gdac's hot wallet to an unknown wallet. The stolen assets include 61 bitcoins (BTC), 350.5 ether (ETH), 10 million wemix tokens (WEMIX), and 220,000 USDT. Gdac has informed the relevant authorities of the incident and is taking steps to retrieve the lost assets.

Misc

FTX's former sales chief says bankrupt crypto exchange should relaunch (2 minute read)Zane Tackett, former head of institutional sales at the now-defunct cryptocurrency exchange FTX, has suggested that the exchange should relaunch and offer a token representing creditor claims. This would provide some value to creditors and potentially limit their losses. Tackett recommends that FTX should return with all of the products it offered before its collapse in November, but also add a market for trading claims on the bankrupt firm. He cited Bitfinex's BFX token, created after the exchange suffered a hack in 2016, as an example of how this could work. The new exchange could offer a market for FTX claims based on one token per $1 lost, as Bitfinex did.

Hong Kong virtual bank to offer crypto conversions and accounts (2 minute read)Hong Kong's biggest virtual bank, ZA Bank, is preparing to offer cryptocurrency account services and facilitate crypto-to-fiat exchanges, according to a Bloomberg report on April 12. The bank will serve as a settlement bank to allow token deposits at licensed exchanges to be withdrawn in Hong Kong dollars, Chinese yuan, and US dollars. Additionally, ZA Bank will provide account services to local cryptocurrency firms. The move follows a trial in a regulatory sandbox that involved about 100 firms, but ZA Bank CEO Ronald Iu said that clients from mainland China would not have access to the service due to the country's restrictions.

🐥

Best of Twitter

Thanks for reading, if you enjoyed, tell your friends!