WhiteboardCrypto Newsletter - May 4

Welcome back to this week's edition of our WhiteboardCrypto Newsletter! May the 4th be with you!

CZ sentenced

The founder of Binance, Changpeng Zhao, known commonly as CZ, was sentenced to 4 months in prison for money laundering violations. We’re pretty sure he agreed to this term ahead of time, given the importance of that number for him. He pled guilty to these charges and has stepped down as CEO of the exchange.

Learn more here.

EigenLayer airdrop woes

While the restaking protocol has received a lot of attention lately for its game-changing security setup, they are receiving a lot of flack for their airdrop announcement. Their EIGEN token will be dropped to users on May 10, but users in the US and Canada (amongst other places) are not eligible to receive it, the token will not be transferrable for the foreseeable future, and many people are upset about the snapshot being taken on March 15, which is before it even officially launched on mainnet. They have however announced they’ll be upping the amount people will get because of how unhappy they were.

Learn more here.

Blockchain privacy services closing

Given the harsh regulatory landscape in the US right now (see this recent release from the US SEC that talks about unregistered “cryptocurrency money transmitting services”), a few different privacy mixers on Bitcoin have closed services in the country, including Wasabi Wallet. Interestingly, Edward Snowden thought to comment that time is running out to make sure our crypto transactions can be private.

Learn more here.

Thanks for reading and I hope you learned something!

- Theodore