TronWeekly

Crypto World News

You are here: Home / Archives for Laura shin

Laura shin

SEC’s Nod To Ethereum ETFs Comes With A Shocking Twist

by

Last week, Ethereum spot ETFs got the green light from the SEC, marking a significant milestone in the crypto world. Popular crypto journalist Laura Shin shed light on this development, noting that while the SEC’s approval of Ethereum spot ETFs is exciting, there’s a catch: these ETFs will likely remove staking.

Staking is a process where you lock up your Ethereum to help secure the network. Excluding staking from ETH ETFs means investors miss out on staking rewards, currently around 3% APY. This setup transfers value from non-staking ETF holders to direct stakers, who will enjoy enhanced returns. However, this exclusion might benefit direct stakers and improve Ethereum’s resilience. Here’s how:

By not incorporating staking, these ETFs bring attention to ETH’s high staking ratio. Unlike previously, these investment vehicles could address the high ratios that bring centralization and reduced liquidity [the ease of buying or selling ETH]. ETFs can promote a healthier network balance by locking in ETH liquidity without adding to staking contracts.

Ethereum
SEC's Nod To Ethereum ETFs Comes With A Shocking Twist 2

Ethereum ETFs with staking yields

So, are ETFs with staking yields on the horizon? Matt Hougan of Bitwise noted that the SEC’s approach is to simplify initially and consider complications later. This conservative approach aligns with maintaining a balanced staking ratio and ensuring network stability.

Will we see ETFs with staking yield in the future? Matt Hougan of Bitwise noted that the SEC’s approach is to simplify initially and consider complications later. This conservative approach aligns with maintaining a balanced staking ratio and ensuring network stability. The long-term impact depends on the SEC’s stance on staking in ETFs. For now, the exclusion benefits direct stakers and mitigates some risks.

Finally breaking the limbo, the US SEC has approved all eight-spot Ethereum ETF, heralding a new era in the crypto industry. According to market experts, the SEC greenlighting the ETH spot ETF is mainly due to the correlation between CME Ethereum futures and certain spot ETH trading platforms. Most of the SEC documents provide data evidence of high correlation, and the monitoring and sharing agreements of CME and others can help prevent fraud and manipulation.

Coinbase’s Legal Battle: Pursuit Of Clarity Amidst SEC Showdown

by

Coinbase, a leading player in the crypto sphere, is taking a unique approach to its legal tussle with the U.S. Securities and Exchange Commission (SEC). If regulatory guidelines are clear, Paul Grewal, Coinbase’s Chief Legal Officer, has laid out the company’s true intentions and commitment to compliance.

In a recent podcast episode hosted by crypto-journalist Laura Shin, Grewal provided insights into the exchange’s objectives in its ongoing legal showdown with the SEC. He emphasized the dedication of Brian Armstrong, the exchange’s CEO, and the board to build a robust case. Grewal underlined the global expectations placed on the company, stating, “Many people all over the world are counting on us to do our very best.”

Contrary to the perception that the exchange might adopt a “win it all or lose it all” stance, Grewal clarified that the case’s complexity transcends a binary outcome of victory or defeat. While there was speculation that any token, service, or product deemed security would spell doom for Coinbase, Grewal revealed that the company’s primary aim is regulatory clarity.

Coinbase’s Regulatory Pursuit Amid SEC Battle

Coinbase is actively pursuing concrete regulatory guidelines from the SEC. Grewal emphasized that if the regulatory body established clear standards, Coinbase would willingly adhere to them. He exuded confidence in a positive outcome for the case, highlighting their optimism.

Conversely, Grewal acknowledged an alternate scenario: a loss in court or establishing new industry standards for crypto companies to adhere to the exchange, and its peers would willingly align with the regulatory framework in such a situation. Grewal stated, “We’ll comply, and others will be able to comply in a way that just isn’t possible today.”

Adding his perspective to the mix, crypto lawyer John Deaton weighed in on Coinbase’s legal battle with the SEC. Deaton estimated a 35% chance that the lawsuit might ultimately be dismissed.

Coinbase’s pursuit of regulatory clarity amidst its legal duel with the SEC underscores its commitment to navigating the ever-evolving crypto landscape while upholding established rules and guidelines. The outcome of this case holds significant implications for the broader crypto industry, potentially influencing its approach to regulatory compliance.

Related Reading:| Coinbase Embraces New PayPal Stablecoin PYUSD with Ethereum Integration

Do Kwon Apologizes To Terra Investors In A Rare Interview

by

Do Kwon, the founder of Terra, made a long-awaited appearance in an exclusive interview on October 18 with renowned author and crypto journalist Laura Shin.

Since the Terra Blowout in May this year, Shin, host of the Unchained podcasts, has posed some challenging questions to the evasive founder.

The stablecoin UST and crypto asset LUNA of the Terra Ecosystem collapsed in a matter of days, wiping out the savings of countless people on May 12.

Do Kwon was first questioned about the Red Notice that Interpol had issued calling for his arrest. In response, Kwon said he was waiting for confirmation and refuted having obtained a copy of the arrest warrant.

He expressed his dissatisfaction with the Financial Services Commission of South Korea, for “creating new regulations through criminal enforcement proceedings.”

Calling the charges “illegitimate and politically motivated,” Do Kwon said he is complying with all the document requests made by the South Korean prosecutors.

He then mentioned how he had to deal with one of the worst effects of the collapse: investors losing billions of dollars across the globe. On one occasion, Shin asked Kwon how he felt about the suicide of an investor who lost his life savings, Kwon looked upset and expressed remorse.

I own up to the responsibility fully. It’s not easy — the hardest thing about the current situation is having to contend with so much astronomical loss. It’s quite hard to put into words, but the scale of the financial and emotional and economic damage that happened here is not easy to live.

The terra founder brushed aside reports of cashing out just before the event, calling them “too much misinformation”.

When Shin confronted him with on-chain evidence of 65 million worth of BTC being deposited on KuCoin and OKEx, Kwon retorted that transferring Bitcoin does not always imply selling on spot exchanges and that his auditing firm would soon come out with a report on the same.

Do Kwon Comes Clean On His “Cocky Attitude”

Do Kwon was also accused of having a “cocky attitude” which became notorious during his time on social media. He said he got “carried away with crypto Twitter” and “looking back now it seemed cringe”. But refuse to delete his controversial tweets or posts.

He further appealed to developers to learn from their errors while continuing to work on developing decentralized money that is “more robust, more transparent, and resistant to failure” in addition to being censorship-resistant.

TenX CEO likely stole $11B Ethereum from 2016 DAO hack

by

A crypto-journalist claims to have solved one of cryptocurrency’s biggest mysteries. She is said to have evidence about who hacked The DAO in June 2016, taking 3.6 million ether from its treasury and causing a controversial Ethereum network hard split.

Laura Shin, presenter of the Unchained podcast and author of “The Cryptopians,” is identifying TenX co-founder Toby Hoenisch as the attacker. She claims that he rejected the accusation in an email. She also adds that he never followed through on a commitment to give details debunking her findings.

Shin used Chainalysis to track funds from the hack to a Bitcoin mixer. It was then tracked to an obscure privacy currency called Grin, which was subsequently withdrawn to a Grin node linked to both Hoenisch and TenX.

The DAO attack that changed Ethereum’s fate

The DAO attack is seen as a watershed point in Ethereum’s history. It anticipated a slew of additional incidents involving unscrupulous actors misusing smart contracts in recent years.

The majority of the Ethereum community finally decided to undo the hack. But few dissenters who clung to a rigid “code is law” ethic resisted, resulting in the original network being renamed Ethereum Classic.

According to Shin, Hoenisch posted social media messages at the time promoting Ethereum Classic and insulting Ethereum developer Vitalik Buterin over the attack.

Shin told Forbes, her former employer, that the evidence she obtained was “very good” and that her research partners were “incredibly, extremely confident” in their findings.

$11 billion is no joke

When Shin informed him about her findings last week, Julian Hosp, Hoenisch’s co-founder at TenX, was taken aback.

He wrote that he sat “totally astonished” for half a minute. “Was he technically capable? Yes. Could I imagine it? Heck no – but that’s what all neighbors of serial killers say too!!”

In a YouTube broadcast, Hosp remarked, “It seemed astounding to me that he was the one who pulled it off.” “I mean, we’re talking about $11 billion at today’s pricing.” That’s a ridiculous sum of money.”

Looking back at his emails, Hoenisch appeared to be cash-strapped the week before the attack and cash-flushed three days later, according to Hosp.

The shocking revelations have made waves. Hackers who exploit and loot the money will think thrice before taking such actions. With advanced tracking systems and a single error from the hacker’s side, it’s not that hard to catch the culprit.