Shanghai, Stablecoin, Concorde Acquisition Corp discussed on Unchained



On Wednesday, a federal judge terminated an investor's class action lawsuit against the creators of Ethereum max and public figures Kim Kardashian and Floyd Mayweather. The dismissal comes three months after Kardashian reconciled with the SEC, paying a sum of over a $1 million due to her promotion of the cryptocurrency. The judge expressed worries about celebrities persuasive abilities to have their undiscerning followers purchase snake oil. Shanghai has a tentative date. Ethereum developers announced a timeline for their much awaited next hard fork. Shanghai, which would make it possible to withdraw ether, staked with network validators. At a meeting on Thursday, core developers set the tentative date of March 2023 for the completion of the Shanghai upgrade, which is formerly known as Ethereum improvement proposal EIP four 8 9 5. This upgrade seeks to provide greater flexibility and convenience to those who have staked ether on Ethereum since the merge. The latest major upgrade of the blockchain. This has happened many times before, especially with the merge, the repose timeline may be delayed due to potential technical difficulties or other unforeseen issues. Developers also discussed EIP four 8 8 four, another hard fork that will enable Proto dank sharding. A technology that will allow the network to significantly improve scalability. Circle terminates plans to go public. Circle, the issuer of the widely used USD C stablecoin has ended its proposed merger with special purpose acquisition company, Concorde acquisition corp, and scrap the deal that was originally valued at $4.5 billion. The intention was for circle to be combined with the spac and then listed on the New York Stock Exchange. Neither side revealed why the merger wasn't successful, but circle CEO Jeremy lair still believes an IPO isn't the company's future. Maple finance cuts ties with insolvent client that was exposed to FTX. Maple finance, a major DeFi lending platform, announced it was cutting ties with orthogonal trading, a large client believed to have misrepresented its financial position. Maples decision follows the collapse of FTX, which is forcing the hands of overextended crypto lenders and borrowers. Orthogonal had borrowed over $500 million from maple, and its default caused a secondary knock on effect on nexus mutual, which potentially suffered losses of $3 million from exposure to the company. Time for fun bits. Avenging the scammers. Joma, the creator of NFT project dagos, posted a hilarious video on Twitter, mimicking how SPF handled funds on FTX. The video portrays a conversation between Sam bankman fried in air quotes, who repeats that he's a philanthropist, and a customer who wants to deposit $8 billion on an exchange to trade. During the conversation, SPF is playing League of Legends. And when this customer finally gives SPF the $8 billion, the money is not so accidentally slipped into the hands of Alameda research, represented by a person smoking and gambling with the funds. In a wise decision, the customer regrets giving his money to SPF and decides to ask for it back, but a bunch of FTT tokens get thrown in his face while SPF runs away. You still have my money, right? Oh, yes, of course. Yeah, here it is. Huh. Yeah, it looks a little bit different, but I guess that's fine. All right, thanks so much for joining us today to learn more about V, the legal process for Sam beckman free to NFTX, check out the show notes for this episode. Unchained is produced by me, Laura shin, without from Anthony Eun, Mark Murdock, Matt filtered upon our Sam shri rum, Pam and Jim jar, shashank, and sale K transcription. Thanks for listening.

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