1/ The SEC earlier this week filed a complaint against @coinbase.
Coinbase said it's putting up a fight.
This is the big one and has huge implications for crypto.
Your favorite startup founder crypto lawyer read the whole thing so you don't have to.
Let's dig in.
2/ Not only does this case implicate Coinbase, but a ton of major tokens like SOL, MATIC, and FIL are implicated.
For once, we may finally see a court finally weigh in on the age old question: are these tokens securities?
Feb 15, 2022 • 5 tweets • 1 min read
“While some decentralized autonomous organizations (DAOs) leverage on-chain governance and votes directly and programmatically lead to fund disbursements, others simply use DAO token-holder votes as ‘signals’ from the community to a centralized group… 1/ coindesk.com/policy/2022/02…
“…of fund managers who theoretically may or may not choose to enact the community’s wishes – a dynamic that could draw the attention of regulators.”
Feb 15, 2022 • 4 tweets • 1 min read
🚨 Warning to all DAOs & DAO founders🚨
Think long and hard before making voting power congruent to economic contribution. You risk exactly what happened below—a takeover by a whale.
-using NFTs for membership (can be no transferable) and voting
-every address that holds the token gets 1 vote
All of these structures could be gamed, but they at least make it more difficult for a whale to takeover.
Oct 28, 2021 • 7 tweets • 2 min read
Successful attacks on DeFi protocols are unfortunately pretty common (still tremendous value in DeFi, hence you see the sector growing at a blazing clip).
They all suck, but the Arkadiko attack has one silver lining: It highlighted the security of @Stacks' structural design 🧵👇
First, slow transaction speeds. Now, don't get me wrong, like everyone else, Stacks' slow transaction speeds definitely annoy me at times.
But the attacker was repeating the exploit in iterations of $400k STX.