Alpaca Finance Institutional Newsletter #54
Highlights
- Metamask integrated by Paypal and Solflare
- Binance’s opBNB Ethereum layer-2 scaling goes live
- Binance.US CEO departs amid job cuts and regulatory pressure
PayPal now allows U.S. users to sell cryptocurrencies and transfer the funds via Metamask wallet directly to their PayPal accounts, making crypto transactions more convenient and secure. Additionally, Solflare, a Solana wallet provider, has integrated MetaMask Snaps to simplify access to the Solana blockchain for MetaMask users, improving the overall user experience.
Binance’s opBNB, an Ethereum layer-2 scaling platform, is now live after extensive testing. It uses Optimism’s rollup technology to reduce fees and speed up transactions for decentralized applications in the BNB Chain ecosystem. During testing, opBNB handled 35 million transactions and 150+ DApps, with a peak of 4,000 transactions per second. It emphasizes scalability and security, offering low gas costs, rapid finality, and multiple audits. OpBNB is EVM-compatible, enabling interaction with Ethereum-based smart contracts and tokens. Optimism’s rollup tech has been vital for Ethereum’s growth, attracting DeFi protocols like Uniswap, Aave, and SushiSwap.
The CEO of Binance’s U.S. affiliate has departed the crypto trading company amid another round of job cuts. Binance.US CEO Brian Shroder is no longer with the company. The cryptocurrency exchange did not specify when or why Shroder departed, but said that chief legal officer ex-Fed Norman Reed is now serving as interim CEO.
News
- BIP-300: Debate reignites over years-old Bitcoin Drivechain proposal
- PayPal enables US users to sell cryptocurrency via MetaMask wallet
- Telegram integrates TON crypto wallet
- BNB Smart Chain Optimism-powered layer-2 opBNB hits mainnet
Products
- Avalanche’s HyperSDK blockchain upgrade hits 143K TPS on testnet
- France launches a certificate for ‘finfluencers,’ including crypto
- Animoca plans to develop digital IDs and point system for Web3
- Aave v3 fork debuts noncustodial liquidity markets on Base
Regulation
- India working on 5-point crypto legislation as ban is ruled out
- Crypto companies form Texas blockchain group to advocate for clear regulations
- EU parliament votes overwhelmingly in support of DAC8 crypto tax reporting rule
- Court approves sale of FTX digital assets, up to $3.4B worth to be unleashed
Funding
- Google launches Digital Futures Project with $20M in grants to support ‘responsible AI’
- Bitget announces further $100M fund for ecosystem development
- Second-largest Thai bank creates $100-million AI fund
- AI startup Helsing raises $223 million in Series B funding for defense solutions
