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GM. This week, you get a bonus newsletter. Here’s what Flamingo Joe has for you today:

• Top crypto stories from the week

• X Rated - top tweets from the week

• Food for thought

TOP STORIES FROM THE WEEK

Jack Dorsey’s Block develops 3-nanometer Bitcoin minding chip, aims for own mining system. “With a standalone mining chip, we will represent the only large, well-capitalized mining hardware vendor with such a solution. We hope this will unlock mining system innovation and support the much-needed development of new mining system form factors and use cases.”

Payments Giant Strip Reenters Crypto With USDC on Ehtereum, Solana and Polygon. A decade after an early attempt to support Bitcoin payments, the company sees a stablecoin-powered future.

Consensys, a Target for the SEC’s Assault on ETH, Is Fighting Back. The Ethereum development company is seeking regulatory clarity on several questions, in a case that some experts see as potentially heading to the Supreme Court.

SEC delays making a decision on spot Eherum ETF proposals from Franklin Templeton, Grayscale. The agency pushed its timeline to make a decision to June 11, 2024, after which the SEC could approve or disapprove or institute proceedings.

a16z Crypto recommends startup founders ‘never publicly sell tokens’ in US. “The SEC argues that nearly every token should be registered under U.S. securities laws,” commented a16z Crypto’s general counsel, Miles Jennings.

KPMG: 39% of Canada’s institutional investors have exposure to crypto. Up 8% from two years ago, one-third of institutional investors have allocated 10% or more of their portfolio to crypto assets.

DOJ arrests founders of privacy-focused crypto wallet Samourai. The DOJ alleges that Samourai Wallet operated as a “cryptocurrency mixing service” and facilitated criminal activity.

Hong Kong Bitcoin and Ether ETFs officially approved to start trading on April 30. The spot exchange-traded funds will be denominated in the US dollar, HK dollar and Chinese Yuan.

IRS Tax Form Proposal Raises Alarms. A draft of an IRS form appears to indicate that the agency will require sel-custodial wallet addresses from DeFi users filing taxes.

Blockchain Association and crypto activist group sue SEC over “Dealer Rule”. The Blockchain Association and a Texas-based crypto activist group are suing the SEC over its controversial “Dealer Rule” expansion, arguing it threatens the digital asset industry and innovation.

Crypto.com’s South Korea Launch Hit By Regulatory Roadblock. Crypto.com previously obtained a domestic virtual asset business license (VASP) in South Korea after acquiring local crypto exchange OKBit.

SEC lawyers resign after ‘gross abuse’ of power in crypto case. Two lawyers for the SEC have resigned after a court sanctioned the agency for “gross abuse” of power and acting in “bad faith” in a crypto case.

VISA provides stablecoin analytics dashboard with ‘noise’ filtered out. The financial services giant wants to make data about stablecoin usage clear and accessible, which requires some processing.

Tweets (Xeets?) That Caught Our Eye

FOOD FOR THOUGHT

Sometimes, I wonder what exactly people at Neo Global Development do. In particular, what does the head of Neo-Eco Growth do? John Wang has been head of Neo Eco growth since 2019.

Is there a single project or growth metric that can be attributed to his role at NGD?