APE Alpha or Rumors?

Good morning. Today we've got coverage on the Coinbase NFT marketplace, MakerDAO making moves, and alpha (or rumors depending on who you ask) on the upcoming BAYC metaverse. All that and more today in the CT5!

Programming note: the CT5 will be off tomorrow and back on Monday, have a good weekend!

Market Update (as of 8:10am ET):

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Top 5:

1. Coinbase NFT marketplace goes live, but can it rival OpenSea? The beta version of the much anticipated NFT marketplace from Coinbase went live on Wednesday. The platform will support Ethereum-based NFT trading, with a social-media spin that could distinguish it from competitors. Users will be able to follow artists whose work will appear in their feeds and comment on and like posts, similar to Instagram or TikTok.

2. MakerDAO to integrate StarkNet to cut DAI transaction costs. MakerDAO, the creator of the DAI stablecoin, plans to integrate with the Ethereum Layer 2 network StarkNet later this month as part of its multichain strategy. Deploying MakerDAO on StarkNet will allow users to mint and trade DAI cheaper and faster than before. "The aim of the multichain strategy is to capitalize on the speed and cost advantages of Layer 2 chains while also growing coverage of DAI and making it the stablecoin of choice within the multichain world," said MakerDAO.

3. APE price climbs 55% in three days as a 'BAYC land drop' rumor goes viral. ApeCoin (APE) price has shot higher on anticipations that it will become the de-facto payment token in an upcoming BAYC metaverse land sale. The rally came as a part of a rebound from three-day lows under $11, resulting in a 55% gain. A rumor circulating across social media since April 18 also suggested that the owners of the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs may receive virtual lands on the Yuga Labs' much-anticipated "Otherside" metaverse platform.

4. Russian crypto miner Bitriver added to US sanctions list. The US Treasury has added the holding company of Russian crypto miner Bitriver to its sanctions list as part of the continued efforts to tighten capital controls over the war in Ukraine. Bitriver provides hosting services and “turnkey solutions” for crypto mining, data management, blockchain and artificial intelligence operations.

5. Crypto exchange Uniswap hit with class action lawsuit alleging wrongdoing. A class action lawsuit against developers and venture capital backers of the decentralized exchange alleges because the protocol allows users to freely list and trade tokens, its creators are responsible for “rampant fraud on the exchange.” The lawsuit also argues Uniswap needs to register as a broker-dealer with the Financial Industry Regulatory Authority (FINRA). The plaintiff, Nessa Risley, is a North Carolina resident who claims to have purchased about $8,545 worth of obscure ERC-20 tokens via Uniswap.

Updates and other stories:
- Binance.US secures money transmitter license in Puerto Rico...Read More
- Deadfellaz Ethereum NFT collection lands exclusive deal with UTA...Read More
- Asset managers set to launch crypto ETFs in Australia next week...Read More

Top Sharers of the Crypto Top 5:
1. Donna Y. - Nashville, TN
2. Jake Y. - Greenville, SC
3. Forrest H. - Evansville, IN

External Resources:
1. Cryptopedia from Gemini - if you see a word, acronym, or phrase in this newsletter that you don't understand, there's a good chance you can find an explanation here
2. Crypto Explainer+ - intro level courses on Bitcoin, Ethereum, decentralized finance, NFTs, and more
3. Crypto Jobs! - looking for a new job? Check out this page from Anthony Pompliano with hundreds, if not thousands of listings

Disclaimer: The information contained in this newsletter shall not be understood or construed as financial advice. I am not an attorney, accountant, or financial advisor, nor am I holding myself out to be, and the information provided is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.