Solana Imploded, Again 💥🙌⛔️

Valko

Solana Imploded, Again 💥🙌⛔️ Valko

Specs’ Insights

SOL Dips 4% Following Solana Network Outage - Decrypt

The price of Solana's SOL token wavered after the network rolled out a software update to validators following a "major outage."

⌐◪-◪ → Solana has stopped processing transactions for over 5 hours now due to a network outage as their engineers are desperately for a fix.

Solana is notorious for its network outages, this one being the first network outage in 282 days. At this point, one could argue that Solana isn’t even a blockchain because blockchains don’t go down.

I’ve gotta say, this is NOT a good look for Solana, their days of unreliability are not over yet. I’m glad I don’t have any exposure to that ecosystem.

I wonder if this will be the last straw for some Solana maxis and if it is, where will they go? Base, Cardano, Polygon — what do you think?

Bonus: 5 days ago Arthur Hayes said, “time to get back on the Solana Train”, which aged like milk. Meanwhile, Ethereum maxis be like.

Let me know in Specs Chat!

Ethereum's Vitalik Buterin Praises Farcaster, Disses Friend.Tech - Decrypt

The Ethereum co-founder appears big on Farcaster, a decentralized social media network making waves in crypto.

⌐◪-◪ → Vitalik must be reading Specs because just a few hours after I endorsed Farcaster in yesterday’s issue, he did the same.

Coincidence, I think not.

Seriously though, it’s becoming increasingly obvious to me and everybody else that Farcaster is doing something different than every other attempt at decentralized social or basic Twitter clones.

Again, I strongly urge all of you check out the platform and secure your handle — use my invite link for access.

More specifically, make sure you check out Farcaster frames. They are seriously a next-level 0-1 innovation. Just look at adoption after Frames launched, the numbers don’t lie.

If you want to learn more, check out these quality resources from trusted friends of Specs:

Zeneca on why farcaster is different
Farcaster co-founder on how Frames work
Fellow CryptoPunk DCinvestor’s bullish take

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Binance to delist Monero after previously adding 'monitoring tag;' XMR drops 15%

Binance will delist the well-known privacy coin Monero on Feb. 20 — alongside three other tokens: Aragon, Multichain and Vai.

⌐◪-◪ → Binance announced its plans to delist Monero later this month, causing XMR to plunge over 15%. While this might not be the most exciting headline, it’s actually pretty important for two reasons.

it’s a major loss in crypto’s battle for privacyit’s a new, more compliant, tone from Binance

The increased control regulatory authorities have over crypto is a double-edged sword as it may help weed out bad actors, but also at the cost of our individual liberties, specifically our right to privacy and freedom to transact.

With that said, I have a “glass half full” mindset and believe there is no stopping crypto or its privacy-preserving technologies. One could argue that this delisting proves that Monero’s privacy-preserving tech is the real deal — that it’s “too private” for the powers that be.

To my fellow privacy warriors, we may have lost the battle, but not the war.

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Everything Else

⛓️ Crypto & DeFi

EigenLayer lifts staking cap, TVL soars past $3B
Markus Thielen predicts Bitcoin will reach $70k by end of year
Solana hacker house mntDAO grows quickly in Salt Lake, UT
Solana 'Chapter 2' crypto phone reaches 60,000 preorders

🏦 Wallstreet & VC

Bitcoin ETFs put BlackRock and Fidelity as top 10 by Jan inflows
Mechanism Capital accumulates Trump mem-coin ahead of election
Multicoin Capital in talks to sell $100M in FTX bankruptcy claims
WisdomTree ETF bets on wealth advisor adoption
Hashnote US Treasuries now available through custodian Copper
Oobit raises $25M Series A led by Tether for crypto payments
Dymension (DYM) trading at $4, implying $4B FDV
Bitlight Labs raises seed round from Gate Ventures for Bitcoin infra

🏛️ Legal & Regulatory

Bitcoin ETFs may pose a risk for Coinbase
Treasury Secretary Janet Yellen again warns of crypto risks
Craig Wright accused of forgery in attempt to prove he’s Satoshi
Judge orders Ripple hand over financial documents to SEC
FTX wants to sell 8% stake in Anthropic for sake of 'shareholders'

🌎 Rest of the World

South Korea arrests Haru Invest exec over $826M embezzlement
Wemade, South Korean web3 game devs, report $142.6M Q4 ‘23 loss
British Colombia court backs ban on crypto mining
Former Terraform Labs dev testifies against Do Kwon in South Korea

🖼️ NFTs & Metaverse

SEG3 Los Angeles conference has gaming leaders split on blockchain
Pudgy Penguins partners with Magic Eden as a preferred marketplace
Heroes of Mavia game airdrops token after securing 1M downloads
Taproot Wizards sell out Qunatumn Cats, raking in $13M

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Specs Chat is more than just a group chat, it’s a community designed to help you become a better crypto investor and operator.

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