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What's MegaETH?
Published on July 3, 2024

Sponsor: KrakenSign up for an account and see what crypto can be.

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NEED TO KNOW
Bittensor Bittensor Exploit
  1. 🤖 Bittensor Network in 'Safe Mode' Following Exploit. A Bittensor wallet hack led to user losses of $8M in TAO.
    Read more on Bankless.com
  2. 🦊 Consensys Buys Wallet Guard Safety Tool. MetaMask MetaMask is bringing on some new talent and tech.
    Read more on Bankless.com
  3. ⛏️ BTC Mining Company Genesis Digital Assets Mulls IPO. The miner is reportedly talking to advisors about funding options ahead of a debut on public markets.
    Read more on Bankless.com
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MARKET VIBES
Altcoin Breakdown

📸 Daily Market Snapshot: A number of top altcoins took major haircuts as the market went red after days of more muted price action. ENS dropped 17%. FTM fell 15%. LDO took a 10% haircut. But most concerning to traders was BTC's drop below $60K.

Prices as of 5pm ET 24hr 7d
Crypto $2.20T ↘4.0% ↘2.7%
BTC $59,793 ↘3.4% ↘1.8%
ETH $3,274 ↘4.1% ↘3.2%
ETHFI $2.37 ↘11.3% ↘26.9%

🔒
New Token Rating: Every single public market buyer of ETHFI awoke to find their bags underwater. How will buyers slurping this week’s 20%+ dip fare?
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ANALYSIS
What's the Deal with MegaETH?
Bankless Author: Jack Inabinet

MegaETH, an upcoming L2 branded as the “real-time Ethereum” boasting sub-millisecond latency and capable of processing over 100k transactions per second (TPS), just announced that it has received $20M in seed funding at a $100M+ valuation!

The star-studded raise was led by Dragonfly Capital and includes notable angle participation from Ethereum Ethereum founder Vitalik Buterin, Consensys founder Joe Lubin, Lido/Flashbots strategy lead Hasu, prolific crypto trader Cobie, and EigenLayer EigenLayer founder Sreeram Kannan. The big names involved have attracted some major attention to the upstart chain.

Today, we’re discussing what MegaETH is building 👇


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LATEST POD
What Supreme Court's Chevron Move Means

Is the Chevron Deference case good for crypto? Is it good for the U.S.? Or is this a giant tradeoff that will lead to bad outcomes?

Crypto enthusiasts, pro-tech individuals, and those on the right say this will stop regulators from making random rules. Non-crypto sources, mainstream media, and those on the left say it will lead to chaos, unchecked corporations, and poor governance.

So, what’s the truth? That’s what we’re here to find out. Our guest today is Justin Slaughter, current policy director at Paradigm.

Listen to the full conversation 👇

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GO BANKLESS
Don't Miss Another Airdrop!

Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop. Did you miss out again?

Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 100 other crypto protocols in Airdrop Hunter waiting for you.


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Keine Finanz- oder Steuerberatung. Die Inhalte von Bankless dienen ausschließlich Bildungszwecken und stellen keine Anlageberatung oder Aufforderung zum Kauf oder Verkauf von Vermögenswerten dar. Dieser Newsletter ist keine Steuerberatung. Konsultiere deinen Steuerberater. Recherchiere selbst.

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