Episode Details

09th May: Crypto & Coffee at 8

🟢 Ethereum Proposal EIP 7702 by Vitalik Buterin 💳Mastercard + US banks work on Tokenization 👀Robinhood receives Wells notice by SEC 🔻Grayscale Withdraws Ethereum ETF

🟢 EIP 7702 Targets Enhanced Security and Compatibility

Ethereum Improvement Proposal (EIP) 7702 represents a pivotal advancement in Ethereum’s ecosystem, targeting enhanced security and compatibility. Authored by Vitalik Buterin along with co-authors Sam Wilson, Ansgar Dietrichs, and Matt Garnett. More info via GitHub here https://t.ly/PgcE5

🟢 EIP 7702 enhances Ethereum’s security and compatibility by avoiding obsolete opcodes, integrating with EIP 4337 for quantum computing readiness, and introducing a new transaction type. It simplifies interactions, reduces costs, and prioritizes user security. This proactive approach makes Ethereum resilient against future threats.

🎙️Check out Blockchain DXB podcast we explain this in detail. Also see slides 1 & 2 below for macro details of #defi, #stablecoins #BTC & more

💳 Mastercard, along with major US banks like Citigroup, Visa, and J.P. Morgan, is testing distributed ledger technology for banking settlements using tokenization. They’re trialing the Regulated Settlement Network (RSN), which streamlines settlement processes by converting various assets into tokens and settling them on a single platform. The ongoing trials, building on a previous 12-week pilot phase, now focus on simulating US dollar settlements. Source via Bloomberg https://t.ly/KXhMK

👀 Robinhood, a major American crypto exchange, received a Wells Notice from the U.S. Securities and Exchange Commission, suggesting possible enforcement action for alleged breaches of securities laws. Details of the wells notice can be seen here https://t.ly/tlQVt via StreetInsider.com

As a result of the news, Robinhood’s share price fell 2.5% before the market opened, hitting $17.95 at 12:50 p.m

🔻 This news led to discontentment among investors. Additionally, a significant amount of Dogecoin was cashed out as Robinhood faced increased outflows. Dogecoin’s price dipped below $0.15 despite rising trading volumes, partly due to these developments and the liquidation of long positions worth nearly $4M.

🟢 James Seyffart, CFA, CAIA mentioned via Twitter (x) that Grayscale Investments just withdrew their 19b-4 filing for an #Ethereum futures ETF. Info here