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GM. This is the Milk Road. The daily crypto newsletter that brings you the best news & a good laugh when you need it most. |
We’re like Jeff Probst from Survivor bringing you the milk & cereal...and yes, we put the cereal in first. |
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Here’s what we’re serving today: |
- The SEC is investigating Yuga Labs
- Google teams up with Coinbase to accept crypto payments
- Quick bites
- Meme of the Day
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THE SEC IS INVESTIGATING YUGA LABS, THE CREATORS OF BORED APES |
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The SEC is at it again. |
This time they're probing into Yuga Labs (creators of BAYC). Sounds like that thing Doctors do to you when you turn 50. |
The SEC wants to see whether Yuga Labs broke any federal laws with any NFTs or distribution of their token, ApeCoin. |
This is big for 2 reasons: |
1/ Bored Apes are the Yankees of NFTs. They have... |
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2/ It could set a precedent on how NFTs & community tokens like ApeCoin are viewed in the eyes of the U.S government |
Lucky for Yuga Labs, they've had access to some of the best lawyers & regulators, including William Hinman (a former SEC director). So hopefully they were careful dotting the i's and crossing the t's. |
Unfortunately, the markets haven't reacted well to the news. ApeCoin has dropped ~8% and Bored Apes are down ~5%. |
The Milk Road Take: Hmmm, the SEC sure has been busy targeting Web3 companies & users... Last week they fined Kim K $1.2m for promoting a crypto token on IG. Now they're coming after Yuga Labs. |
Yet I know a certain politician (name rhymes with Yancy Delosi) who somehow always knows the right stocks to buy before major news drops... |
Totally makes sense to investigate the monkey JPEGs first. |
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COINBASE TEAMS UP WITH GOOGLE |
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You know the drill. Another day, another big Web3 partnership. |
This time...Coinbase is teaming up with Google. |
That's right, the biggest U.S crypto exchange 🤝 everyone's favorite verb. Here's everything you need to know: |
- Select Google Cloud customers will be able to pay for services using crypto. Coinbase will get a cut from each transaction
- Web3 developers will have access to Google Cloud's blockchain data through BigQuery (powered by Coinbase)
- Google will look into using Coinbase Prime for institutional crypto services, like secure custody and reporting
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It's a win-win for both sides. Coinbase gets a new revenue stream that isn't directly tied to trading volumes. And Google gets access to fast-growing Web3 companies. |
The funny part in all of it is Google's love-hate relationship with crypto over the years. They've gone from banning crypto ads --> accepting crypto payments. |
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Google reminds me of my 9th-grade girlfriend. One day she'd say she can't stand me. The next day she'd be talking about the wedding and honeymoon. |
They even added this new feature that lets you Google any Ethereum address and it'll spit out how much is in the wallet. |
It's like Black Magic. Check out the Ethereum Foundation's wallet... |
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TODAY'S EDITION IS BROUGHT TO YOU BY BLENDID |
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Blendid is making waves in the $300B quick-serve industry. |
And they’re doing it in the smoothest way possible. |
Today’s consumers won’t compromise on quality or convenience. So Blendid built a highly-scalable, compact, robotic smoothie kiosk that can serve premium, freshly blended drinks to order in minutes. |
It’s such a low-cost, high-margin operation that college campuses, retail stores, and other high-traffic locations are already on board. |
In fact, Blendid has 500+ smoothie kiosks in contract already. |
But thanks to relationships with Fortune 500 companies like Sodexo and Walmart, they’re looking at bringing this tech to 70,000 potential high-traffic locations like airports, hospitals, and travel stops. |
Become a Blendid shareholder before they add more. The opportunity ends on Oct. 14. |
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QUICK BITES |
4 hacks. 1 day: Yesterday, Mango was hacked for $112m, TempleDAO was hacked for $2.3m, Rabby Swap was hacked for $200k, and Paraswap was hacked (unknown what the damages are). What a time...to be a hacker. |
OpenSea has launched Avalanche NFTs on its marketplace. OpenSea now supports NFTs on 7 different blockchains. |
21Shares has launched the first spot Bitcoin ETP in the Middle East. |
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MEME OF THE DAY |
 | Alan Carroll @alancarroII |  |
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“I don’t have a lot of time, it’s called Yuga, Y-U-G-A…” |  | | | Oct 11, 2022 | | |  | | | 1.72K Likes 293 Retweets 108 Replies |
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That's a wrap, ladies & gents. Stay thirsty & see ya tomorrow! |
If you want more, be sure to follow our Twitter (@MilkRoadDaily) |
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What'd you think of today's edition? |
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A ROADERS REVIEW |
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VITALIK PIC OF THE DAY |
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. |
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