EigenLayer's Shitty Airdrop, Telegram Boosts TON, and Hong Kong ETFs Defy U.S. SEC Concerns

M6 Labs Alpha Bytes🚨: 30th April

GM Anon 🐺

In today’s Alpha Bytes,

EigenLayer Community Upset by Limitations on Recent Airdrop:
EigenLayer's airdrop tokens are indefinitely non-transferable, causing community unrest. A March 15th snapshot excluded key DeFi platforms like Pendle from Season 1, and strict anti-VPN measures have raised further accessibility concerns.

Telegram Partnership Catapults TON to New Heights:
Telegram's partnership has significantly boosted TON by integrating its blockchain technology with Telegram's messaging services, enhancing security and transaction capabilities.

Hong Kong's ETF Market Thrives Despite Potential SEC Ethereum Stance: Despite potential U.S. SEC regulations on Ethereum, Hong Kong ETF issuers remain active, believing regulatory changes will minimally affect their operations. Their resilience emphasizes Hong Kong's adaptability in the financial market.

BTC $60,928 (-3.0%), ETH $3003 (-5.3%), SOL $128.89 (-5.8%)

Crypto News 📰

  • EigenLayer users fume over restrictive airdrop 

  • TON takes off with Telegram tie-up 

  • Hong Kong ETFs begin trading, issuers unfazed if US SEC declares ETH a security 

  • Bitcoin ETF slowdown is only a short-term pause and not the start of a negative trend 

  • Hong Kong Exchange open to levered, Inverse crypto ETF products 

  • Veteran trader Peter Brandt suggests Bitcoin may have topped, predicts decline 

  • Dead protocol leaks crypto funds from hacked pool 

  • ZachXBT claims the Lazarus Group has laundered over $200 million worth of crypto

  • How India and the US teamed up to uncover Rs 3000 crore scam involving cryptocurrencies 

  • Changpeng Zhao planning comeback even as he faces prison time 

  • Hong Kong joins global crypto ETF race 

  • Crypto markets to hit $7.5 trillion, predicts Bernstein 

  • Ahead of EU elections, Crypto industry pushes merits of blockchain as focus shifts to AI

  • Nigeria freezes over 1100 bank accounts belonging to crypto traders amid a broader regulatory crackdown.

  • Hong Kong crypto ETFs seen opening door for Chinese investors 

  • US lawmakers press Biden administration on the use of crypto to evade sanctions 

  • Crypto and AI must be protected from financial nihilism 

  • What next for non-custodial crypto as Wasabi Wallet and Phoenix leave the US

  • Tether invests $200 million in brain chip maker Blackrock Neurotech 

  • Bitcoin confirms 1.6 million payments in a single day, a new record 

  • 68% of Runes are in the red, so are they really an upgrade for Bitcoin 

  • Solana illustrates the dark side of monolithic blockchains 

  • Bitcoiners furious after testnet griefing 

  • Safe token drops 42% after enabling transfers 

  • Karak has a good chance of becoming the next EigenLayer after EIGEN airdrop disappointment 

  • Web3’s 1995 moment 

  • Bitcoin and Ether ETFs have tough debut on first trading day in Hong Kong 

  • Apple poaches Google AI staff, creates ‘secretive’ laboratory 

  • ZK systems will have their ChatGPT moment: Telos Foundation 

  • Ripple breaks ground in Japan with SBI Group to use XRPL for supply chain solutions 

  • Elon Musk’s X to remove likes and reposts from timeline within weeks 

  • MicroStrategy Q1 net loss hits $53 million 

  • Samourai Wallet co-founder pleads not guilty, released on $1 million bond 

  • Terraform proposes $1 million penalty for SEC case

  • Crypto investment funds see $435 million outflow as bull market stalls 

  • EigenLayer releases EIGEN white paper, bans airdrop for US users 

  • South Korea looks to upgrade status of crypto crime unit

  • Bankruptcy judge signs off on $450 million FTX-Voyager settlement 

  • Binance sued in Canada 

  • Avalanche integrates with Stripe for fiat-to-crypto onboarding 

  • WBTC loses its peg to Bitcoin on Justin Sun-backed Poloniex 

  • Mollars founder’s video sparks debate, critiques Bitcoin’s hidden costs

  • CrypotQuant CEO does not see capitulation of crypto miners 

  • Changpeng Zhao in talks with Sam Altman to explore AI investments 

  • MicroStrategy boosts Bitcoin holdings to 214,400 with $7.8 million purchase 

  • HNT soars 14.5% as Helium Foundation announces mobile updates and voting results 

  • EigenLayer stakers to receive 15% of token supply 

  • USDC overtakes USDT to become transaction volume market leader 

  • Mainland Chinese prohibited from buying Hong Kong crypto ETFs 

  • Australia's largest stock exchange could list approved spot Bitcoin ETFs by the end of 2024 

  • Trust Wallet has been removed from Google Play Store 

  • Court filings show SEC Chair Gary Gensler believed Ethereum was a security for at least a year 

  • Magpie exploit post mortem 

  • Pike Finance exploited for $300,000

  • Mina mainnet upgrade 

  • Morpheus AI tokens claimable on May 8th 

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Interesting Threads🧵

Project Updates 🔥👷🏼‍♂️

  • Dymension announces the introduction of eIBC 

  • Friendtech launch delayed to Thursday 

  • Merchant Moe announces MDMA, Moe’s Dynamic Maker Awards 

  • Andre Cronje shares thoughts on Fantom’s gas monetization 

  • Ionet took Season 1 snapshot, announces Season 2 

  • OKX introduces Runecoin on JumpStart 

  • EigenLayer reveals airdrop allocation and checker 

  • ETHxy announces L3 world chain 


  • MosoHQ announces $2 million seed 

  • Puffverse announces $3 million raise in round led by Animoca Brands 

  • Tevaera announces $5 million raise in round led by LaserDigital 

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