Welcome to the 141st issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between April 16th and April 23rd, 2023.
🔥 The DeFi Bulletin
- US Representative Davidson may introduce legislation that could fire Gensler for overreach.
- Gensler was also grilled in the House of Representatives over the SEC’s take on crypto, specifically Ethereum.
- Coinbase’s CEO, Brian Armstrong, has stated that Coinbase could move away from the United States if there is no clarity on crypto regulation.
- The EU’s parliament has approved crypto licensing and funds transfer rules, set to take effect in 2024.
- Maple Finance, a crypto lender, opened the US Treasury Bill Pool for cash management.
- Alchemy released its Q1 2023 web development report.
- Carbon recently launched on the Ethereum mainnet.
- An MEV bot earned around $700K through sandwiching and has spent millions on gas.
- Berachain secured $42M in funding, aiming to launch another L1 blockchain.
- Fractal, a project aiming to provide on-chain transparency, raised $6M in funding.
💵 State of the Stablecoins
- The Bank of England has warned that stablecoins may need limits to avoid disruptions to financial stability.
- Some of Circle’s representatives spoke at the House hearing, discussing the urgency of passing stablecoin legislation.
- Societe Generale’s crypto division introduced a Euro stablecoin on Ethereum.
- MakerDAO approved a $500M max transfer in $USDC to Coinbase for a 2.6% yield.
💱 DEX Report
- CoW Swap has improved limit orders, adding partially fillable limit orders.
Thanks for reading, and be sure to catch the 142nd issue of The Defiprime Post out this time next week! 👋♦️👋