Cross Chain Weekly #33

Alameda is cashing out, 2022 venture highlights, & the year in blockspace demand!

Gm fam. Welcome to the Cross Chain Weekly - the weekly email that makes you a smarter cross chain insider. Over $1M has been sent through crypto-mixers by Alameda wallets. WHY??? Up until a day ago, the wallets had not spoken since that time. At that point, numerous Alameda addresses started exchanging tokens for ETH/USDT and sent them to cryptocurrency exchanges.

Arkham | Crypto Intelligence @ArkhamIntel

Sharp-eyed users may have noticed a number of interesting movements from Alameda wallets in the past 24 hours. These wallets had been inactive for multiple weeks before they 'woke up' last night. Over $1M has been sent through crypto-mixers by Alameda wallets. What gives? 👇

Trigger warning maxis; the future is cross chain, so let’s dive in.

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This week’s Cross Chain Weekly is brought to you by Paloma; the fastest cross-chain communication layer ever.

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All Eyes Are On… Our Partners

• Paloma’s new wallet enters Beta

• Convex announces new $cvxCRV wrapper

• Axelar is subsidizing gas fees for bridging into Osmosis

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Dev Help Dev

• The year in blockspace demand

• Automate transactions on Cosmos

• The Uniswap re-entertrancy vulnerability explained

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Academic Dive

jump_crypto 🔥💃🏻 @jump_

1/ Block safety guarantees vary from chain to chain—impacting protocols that utilize bridges. Our team has written a series of blog posts to explain core concepts for finality. Here’s our first entry: jumpcrypto.com/bridging-and-f…

If a tree falls in the forest and no one is around to hear it, does it make a sound? An age old adage, one that reminds me of blockchain finality in its simplest form. Finality arises from a fundamental problem in Nakomato’s vision for decentralized, distributed systems…

If there’s no authority to provide truth, how can we be certain if our view of the state is consistent with the rest of the network?

Nakamoto-style protocols, like Bitcoin, address this problem by increasing the cost of reverting a specific block the deeper it gets in the chain. However, other protocols take different approaches. For example, building a generalized bridge means taking on the complex task of designing a unified abstraction over all of these models. A thorough grasp of finality is vital to build a safe bridge - check out Jump’s full research here.

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Inside the Coalition

• Have you ever farmed cross chain??

• Trader Joe goes cross chain, next stop… Arbitrum

• It’s Avalanche season! Native USDC is falling from the sky

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News from Outside the Coalition

Watcher.Guru @WatcherGuru

JUST IN: 🇺🇦 ANC Pharmacy, one of the largest pharmacy chains in Ukraine partners with #Binance to accept #crypto payments at 1,100 locations.

• The L2 Year in Review

• BMW chooses their cross chain protocol partner

• Apple Pay and Google Pay are now available on Binance

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Funding

• Recapping the 2022 venture capital highlights

• Web3 education platform raises seed at $15M valuation

• Miami based defi trading strategies platform raises $1.9M

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Out Run the Rat Race

• Crypto payments company shuts down after 10 years

• Zodia Custody appoints former Bitstamp exec as CEO

• Head of Wallet Engineering leaves Coinbase after 4 ¾ years

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Upcoming Events

• The CCC Web3 Demo Day  // Virtual, Jan. 11

• Intertop Summit by Axelar // Denver, Feb 27

• Avalanche Summit II // Barcelona, May 3-5

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Inside Jokes

foobar @0xfoobar

If I were already a crypto billionaire I would simply stop committing fraud and buy lots of pudgy penguins or something instead

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Also Wait… what’s the Cross Chain Coalition?

The Cross Chain Coalition (CCC) is a collective of builders that have united together to educate developers on cross chain infrastructure. The CCC aims to expand awareness and increase education for cross chain development. Join us in our journey to turn every blockchain engineer into a crosschain engineer.