Market Mix - Binance Locked Out in Australia

June 02, 2023 | Read Online

Binance Locked Out in Australia

Plus a new Nike NFT and Uniswap fee switch

The Breakdown First Five - Friday June 2, 2023

5. MakerDAO buys Treasuries

MakerDAO, the issuer of stablecoin DAI, taken another step in their reserve stability efforts, voting to purchase an additional $1.28B in US government bonds. The move more than doubles their holdings of treasuries, in addition to $500M in USDC holdings. The overcollateralized stablecoin now relies on Ethereum for less than 50% of its collateral mix.

4. New Coinbase Offshore offerings

Coinbase will expand their offshore products to include vanilla derivatives, with trading commencing next week. Contracts will be sized at 1 BTC and 10 ETH and settled monthly. Coinbase cited high demand from institutional customers. The products would be directly competing with similar offerings traded on the Chicago Mercantile Exchange.

Coinbase Institutional 🛡️ @CoinbaseInsto

1/ On June 5, Coinbase Derivatives Exchange, our CFTC-regulated futures exchange, will launch BTC and ETH futures contracts for institutions.

Here's what we've built 🚀📈:

Jun 1, 2023

547 Likes 100 Retweets 28 Replies

3. Nike NFTs kick off

Nike will be bringing its NFTs to EA Sports games. The shoe brand's digital products will presumably feature in segment dominating titles including FIFA and Madden NFL. Last week, Nike NFTs surpassed $1M in sales with almost 100,000 digital sneakers sold. This partnership represents the biggest crossover between Web 3 products and video gaming to date, shaping future business decisions about the viability of NFTs in mainstream games.

K. Adam Bloom @kadambloom

Start the clock for how long it takes my 8/9 y.o.’s to ask me how to buy the FIFA cryptocurrency shoes https://t.co/Go4IRzSXSI

Blockworks @Blockworks_

NEWS: Nike NFTs could debut on FIFA following EA partnership

https://t.co/vGJfJm4Zgx

Jun 1, 2023

1 Likes 0 Retweets 1 Replies

2. Uniswap fee switch vote fails

The Uniswap community has voted down a proposal to charge fees to liquidity providers. A majority of the community voted for fees but were split on the amount. Fees would be charged to LPs, who are generally large commercial market makers, rather than everyday users. As DEX volumes continue to surge, the protocol could be fumbling an opportunity to show significant revenues and a viable business model.

Yano 🟪 @JasonYanowitz

Uniswap fee switch vote was set up incorrectly.

22M voted to turn on fees, 18M voted against fees.

Yet the fee switch failed. https://t.co/s96aM3TUYJ

Jun 1, 2023

79 Likes 1 Retweets 12 Replies

5. Binance Locked Out in Australia

Binance stopped bank transfers in Australia after failing to find a new payments partner. The exchange warned customers of the possibility earlier in May but said it would be “working hard to find an alternative provider.” It turns out that no one wants to bank Binance down under as the global squeeze on the world’s largest exchange continues. Card services remain operational.

dumb0tics @dumbotics

And just like that we have an example of how quickly and how possible the whole playground could get wiped out for crypto… https://t.co/f2R672J9RO

Binance Australia @Binance_AUS

Fellow Binancians,

We regret to inform you that AUD deposits and withdrawals by bank transfer are no longer available to Binance users in Australia. Binance has ceased all AUD trading pairs as of June 1. In order to facilitate withdrawals and trading activities after June 1, you… https://t.co/dT1zcjEj6j

Jun 1, 2023

0 Likes 0 Retweets 0 Replies

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Key phrases

large commercial market makers New Coinbase Offshore offerings reserve stability efforts US government bonds Chicago Mercantile Exchange CFTCregulated futures exchange future business decisions K Adam Bloom new Nike NFT EA Sports games Coinbase Derivatives Exchange FIFA cryptocurrency shoes fee switch vote ETH futures contracts

Older messages

"Notes" of An Elder

Friday, June 2, 2023

We must not only act but also dream, not only plan, but also believe. We need more people who specialize in the impossible. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Edit ENS records on Optimism soon

Thursday, June 1, 2023

Worldcoin raises $110 million while promoting ENS ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Crypto Is Fueling the Fentanyl Crisis Now?

Thursday, June 1, 2023

Plus Circle gets out of USD debt altogether ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Building Character: The Key to Lasting Leadership Success

Thursday, June 1, 2023

While a strong brand may bring awareness, engagement or opportunities, our character is what ultimately sustains us as leaders. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

What makes for a perfect bowl sponsor?

Thursday, June 1, 2023

Why the Pop-Tart Bowl rules, and who else needs to sponsor one: ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

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