Scenius Sync (Issue #46)

Coinbase & Gemini Launching Non-US Derivatives Exchanges, PayPal Extends Crypto to Venmo, & Solana Preps ChatGPT

Scenius: The intelligence and the intuition of a whole cultural scene. The communal form of the concept of genius.

Welcome to The Scenius Sync.

Our mission with this concise publication is twofold:

1. Share the essential stories driving the crypto industry and markets.

2. Highlight innovative applications and mainstream adoption of crypto and blockchain technology.

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Essential News 🗞

1. Introducing Coinbase International Exchange

   • In executing on the next chapter of the company's Go Deep, Go Broad global expansion strategy, Coinbase International Exchange brings the safest, most trusted name in crypto to the global derivatives market. Additional coverage here from The Block.

2. Gemini launches Offshore Derivatives Platform as Winklevoss Twins Tire of U.S. Crypto Quagmire

   • Tyler and Cameron Winklevoss announced the move today, contributing to a growing trend: U.S.-based crypto firms taking their business elsewhere in response to increasingly hostile regulatory environment at home.

3. UK Crypto Tax Advisors Welcome Proposed Changes to DeFi Lending, Staking Treatment

   • On Thursday, the U.K. government's tax branch, His Majesty's Revenue and Customs (HMRC), announced it will be consulting crypto stakeholders for the next eight weeks on its plan.

4. Robinhood Gives Users a New Way to Fund Their Web3 Wallets

   • The popular trading platform has unveiled "Robinhood Connect," a new feature for users to fund their Web3 wallets without having to leave a decentralized app (dapp) or be in their crypto accounts. Robinhood Connect will also let developers embed the feature directly into their dapps, so that Robinhood users can buy, transfer and fund their self-custody wallets, the company announced at CoinDesk's Consensus 2023 conference in Austin, Texas.

5. Coinbase Insiders Got $1 Billion Richer by Not Disclosing Negative Information, Lawsuit Claims

   • Coinbase’s top executives made themselves richer by $1.09 billion by failing to disclose negative information about the company prior to listing its shares in April 2021, according to a lawsuit filed in a Delaware state court. Coinbase denies the claims, calling the action "frivolous" and "meritless."

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Innovation & Adoption 💡📈

1. PayPal extending crypto transfers to more than 60 million Venmo customers

   • Nearly a year after PayPal allowed users to transfer crypto between its platform and other wallets, the company is set to roll out a similar feature for its more than 60 million Venmo customers located in the United States.

2. Solana Labs Preps ChatGPT Plugin for Real-Time Blockchain Analysis

   • When the plugin launches, Solana Labs said, users will be able to perform various tasks through the ChatGPT user interface, including checking wallet balances, transferring tokens, and purchasing NFTs. Solana Labs hopes it will make it easier for users to navigate the Solana blockchain.

3. Mastercard teaming with Solana, Polygon on new Crypto Credential standards

   • Mastercard is teaming with public blockchain developers Aptos Labs, Ava Labs, Polygon and The Solana Foundation on a new set of standards it's dubbing Crypto Credential in an effort to build the trust of consumers, businesses and governments in the sector. 

4. Sotheby's Launches On-Chain Secondary NFT Marketplace

   • Through its Web3 arm, Sotheby’s Metaverse will now offer direct transactions between collectors on its platform. The integrated sales system will be fully on-chain via the Ethereum and Polygon networks, and users can pay in either native token ETH or MATIC.

5. Phantom Solana Wallet Adds Ethereum and Polygon Support

   • Popular self-custodial wallet Phantom announced yesterday that simultaneous support for Ethereum and Polygon networks is live on its mobile app and browser wallets, widening users' access to dApps across the Web3 landscape, including Magic Eden, Uniswap, Aave, blur, and OpenSea.