🚀🦎 The UNIcorn comes charging 🦄

Thursday, May 11, 2023

Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox!

Pepe Please

Decentralized exchange (DEX) Uniswap overtook centralized exchange (CEX) Coinbase in daily volume.

As of today, Uniswap recorded $1.2 billion volume while Coinbase recorded $948 million.

The surge could be attributable to the wave of BRC-20 listing on Uniswap, with the likes of Pepecoin (PEPE) saw its market cap surpass $1 billion mark last week.

In today's news, the IRS claims $44 billion from FTX, Tether posts about $1.5 million quarterly profit and Franklin Templeton announces a blockchain fund.

Read on!

Most popular types of crypto exchanges

People might have the most complaints about Elon's Twitter, but the biggest decentralized social media aren't Twitter alternatives.

Instead, video sharing platform Odysee (5.30 million monthly users) and content sharing forum Steemit (3.11 million monthly users) are by far the most popular… for now.

24h Hot Searches Worldwide

Milady Meme (+10,452.3%)
Pepe (-13.3%)
SnailBrook (-19.8%)
Ignore Fud (+7.0%)
Baby Doge (-4.7%)
Arbitrum (+0.0%)
tomiNet (-9.1%)

What is Account Abstraction, and why is it the key to onboarding the next billion users into Web3? 🔑

Let's find out here!

IRS Aims at FTX

The United States Internal Revenue Service (IRS) has filed claims of about $44 billion against the defunct cryptocurrency exchange FTX and its affiliated entities.

The claim includes $20.4 billion against Alameda Research and nearly $20 billion in unpaid partnership taxes.

The claims are filed under "Admin Priority," which could take precedence over other claims from creditors in a bankruptcy case.

CoinDesk

Templeton Has Entered The Chat

Large asset manager Franklin Templeton has announced plans to add to its crypto market offerings with a second blockchain fund.

The Blockchain Fund II is a private equity fund with a minimum investment of $100,000.

The fund would focus more on serving institutional investors, with the growing interest from mainstream financial institutions.

CoinDesk

Tether Records Massive Profit

Stablecoin issuer Tether has released its Q1 report and disclosed $1.48 billion in net profit for the first quarter of 2023.

The company also revealed an all-time high of $2.44 billion in its reserves, with the majority invested in the U.S. Treasury Bills and less than 2% in Bitcoin.

Its stablecoin USDT has a market cap of $82.5 billion and a 24-hour trading volume of $16.5 billion.

Decrypt

There are a few crypto investing apps on the market right now, but almost none of them provide the types of features that eToro does. Price charts, stats, news, and more; plus, you get access to 40 of the world's most popular cryptocurrencies. For everything you need to invest in crypto, go eToro.

Discover why millions use eToro to invest in crypto. Join.

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

What is the Optimism Superchain? Find out how Optimism's OP Stack is enabling the creation of new Layer 2 chains like Coinbase's Base and consensus clients like A16Z's Magi.