Sui Overtakes Solana in Daily Transactions; Block Targets $1.5B Raise, LayerZero Warns Employees on Insider Airdrop Farming Consequences

GM anon ☕🐺

In today’s Alpha Bytes👇

BTC $63,603 (0.0%), ETH $3,075(-1.1%), SOL $155 (+2.3%)

Sui blockchain now leads in daily transaction volume, surpassing Solana and marking a significant shift in the crypto landscape.

Jack Dorsey’s Block plans to secure $1.5 billion via a senior notes offering to strengthen its financial position and fuel growth.

LayerZero threatens to fire any employees if they participate in insider airdrop farming activities.

Crypto News 📰

• Sui surpasses Solana with record 24-hour transactions

• Jack Dorsey’s Block to raise $1.5 billion in senior notes offering 

• LayerZero will fire employees that participate in it’s airdrops 

• BlackRock’s BUIDL applies for Arbitrum STEP application

• MetaMask launches “Smart Transactions” to tackle ETH front-running

• Binance CEO Richard Teng decries “deeply distressing ordeal” for jailed executive in Nigeria 

• Revolut’s crypto exchange now live for experienced users 

• Binance claims Nigerian officials have proposed a secret crypto settlement  

• SEC can’t stop suing crypto companies 

• Australia seeks client data from crypto exchanges in latest tax crackdown 

• Kronos Research hacker shifts funds to Tornado Cash 

• Ore wins Solana hackathon despite disrupting the Solana network in April 

• SEC pushes Invesco Galaxy spot Ethereum ETF to July 

• Experts believe Ethereum Layer2 EigenLayer is the last of ‘life-changing airdrops

• Saga CEO discusses scalability challenges, potential solutions 

• New stablecoin laws proposed in the US

• German state bank to tokenize bonds on the blockchain 

• Grayscale spot Bitcoin ETF sees second consecutive day of inflows 

• Franklin Templeton believes Solana will become the third-largest cryptocurrency 

• ETH liquidations surpass Bitcoin’s as price slips below $3200 

• SEC’s hostile regulatory environment benefiting Coinbase: Bitwise CIO

• Sandbox co-founder foresees AAA game studios embracing Web3 

• Spot Bitcoin ETFs register $217 million Net inflows on Monday 

• Ethereum client Geth releases advanced live Tracer Tool 

Project Updates 🔥👷🏼‍♂️

• Reserve Protocol introduces KNOX Dollars 

• Mode Network announces Season 2 and S1 details 

• Withdrawals for rsETH on KelpDAO activated 

• Staking update from Ethena Labs 

• Blast L2 introduces Blast Jackpot 

• Introducing 3Jane: A path forward for EigenLayer growth through financialization 

• HyperLiquidX L1 transitioning to HyperBFT 

• Introducing Overload

• Uniswap, Robinhood announce plans to trade crypto in-app 

• EthXY testnet live 

• Blur on Blast 

• Puffer Finance to launch mainnet on Wednesday 

• Blast has added several multipliers 

• CoinStats launches Degen Plan to enhance trading tools for crypto investors 

• Runes and BRC-20s are a stepping stone for Bitcoin DeFi 

• Is Kelp the key to a more stable future for crypto 

• Starknet Foundation launches $5 million grant program 

• Polygon’s ZK-rollup Ethereum scaler Miden hits testnet 

Interesting Threads🧵

• Jake Pahor thread about the TON ecosystem 

• Zeneca thread on Fantasy Top 

• Article on composible IP, autonomous agents, and generative AI 

• OuroResearch thread about STX and ALEX 

• Thread on LayerZero sybil detection mechanism 

• Modular vs Monolithic is dead 

• AO absurdly scalable, hyper parallel computer 

• Oracle Risk and Security Standards 

• Time to farm smart, not hard

• Is IPOR Labs the next $PENDLE 

• How ponzi is Friendtech v2? 

• The ultimate bridge ranking

• Mindset trading or the market overall

• Weekly market recap

• Is Karak the next EigenLayer? 

• Introduction to Spectral Labs

• Composable IP x Autonomous Agents x Generative AI

• Humble Farmer Army: Meet Arweave - Permanent information storage  

• Introduction to Fully Homomorphic Encryption

• Redacted Research - EigenLayer 

Fundraise 🤑

• KioskSocial raises $10 million in funding round led by Electric Capital 

• Paragraph raises $5 million from USV and Coinbase Ventures 

Actionables 🎬

• Debank snapshot soon? (Claim badges, be active)

That's a wrap for today, fren!

Join our smol research channel to share crypto insights and empower the community👇