Highlights
FTX Creditors to Receive 118%-142% Repayment
Cryptocurrency exchange FTX has amassed billions in funds exceeding losses from its November 2022 collapse, enabling full repayment to clients post-bankruptcy. Additional cash will cover interest for over 2 million customers—a rare outcome in U.S. bankruptcies where creditors typically recover minimal amounts.
- Total Payout: Up to $16.3 billion after asset sales.
- Debt Owed: ~$11 billion to non-government creditors.
Repayment Rates:
- Up to 142% for select creditors.
- 118% for most customers (based on FTX platform holdings at bankruptcy filing).
- Timeline: Payments may take months as FTX nears the final bankruptcy stages.
👉 Explore crypto investment strategies for maximizing returns in volatile markets.
Vitalik Buterin’s EIP-3074 Alternative
Wallet Connect developer Pedro Gomes revealed Vitalik’s proposal to replace EIP-3074’s opcode approach with a transaction-type method, leveraging 4337 infrastructure for lower developer risk.
- Key Benefit: Smoother migration from EOAs (Externally Owned Accounts) to smart accounts via Wallet Connect’s 7377 transaction type.
Market Update (Latest Prices)
| Coin | Price (USD) | 24h Change |
|-------|------------|------------|
| BTC | $62,362.69 | -1.3% |
| ETH | $3,011.74 | -1.7% |
| BNB | $577.42 | -1.8% |
| SOL | $148.11 | -3.1% |
| DOGE | $0.1501 | -4.1% |
| XPR | $0.5245 | -2.9% |
Regulatory Developments
SEC Chair Gensler on Crypto Disclosure Gaps
Gary Gensler emphasized that crypto investors lack proper disclosures under U.S. securities laws, calling most tokens "crypto securities."
- Key Quote: "Investors deserve full, fair, and truthful information—they’re not getting this in crypto."
Terraform Labs Faces SEC Pushback
The SEC rejected Terraform’s claim that its fraud occurred outside U.S. jurisdiction, citing misapplied laws and factual errors in its defense.
Proposed U.S. Bill Targets Crypto Mixers
A new bill aims to combat money laundering via crypto mixers, with Rep. Sean Casten highlighting USDT’s role in illicit finance.
👉 Stay compliant with evolving regulations using trusted platforms.
Blockchain Innovations
Germany’s KfW Bank to Issue Blockchain Bonds
KfW will launch its first blockchain-based digital bond under Germany’s eWpG law, with major investors like Union Participation.
Silent Protocol’s “Ghost Layer” for Ethereum
This 1.5-layer solution uses ZK and 0VM tech for private asset storage and cross-chain value transfers, enhancing privacy compliance.
Ethernity Shifts to Ethereum L2 for Entertainment NFTs
Optimism-based upgrade integrates AI-driven DRM protocols for IP protection, targeting global entertainment brands.
Cryptocurrency Sector Updates
Digitex CEO Admits BSA Violation
Adam Todd pleaded guilty to failing AML/KYC programs at Digitex Futures Exchange, per U.S. Bank Secrecy Act charges.
Grayscale Withdraws Ethereum Futures ETF Filing
The surprise move came three weeks before the SEC’s decision deadline.
RFK Jr. to Speak at Consensus 2024
The pro-crypto U.S. presidential candidate will address institutional adoption trends.
Q1 RWA Leaders: BlackRock, Ondo, Superstate
Tokenized treasuries surged 41% to ~$1.3B, driven by institutional products like BlackRock’s digital liquidity fund.
Economic Outlook
Fed Rate Pause Likely in June (91.2% Probability)
Morgan Stanley delayed rate-cut forecasts to September, citing inflation stagnation but maintaining three 25bps cuts in 2024.
FAQ
What is liquid staking?
Liquid staking lets users stake tokens while retaining liquidity via derivative tokens (e.g., Lido’s stETH), enabling DeFi yield opportunities.
Why did FTX creditors get over 100% repayment?
Asset sales generated surplus funds ($16.3B vs. $11B owed), allowing interest payments—uncommon in bankruptcies.
How does Ghost Layer enhance Ethereum?
It combines ZK-proofs and 0VM for private, compliant transactions without sacrificing composability.
Disclaimer: This content is informational only. Conduct thorough research before investing.