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  • đŸ„› Ethereum's in the hot seat 🧐

đŸ„› Ethereum's in the hot seat 🧐

PLUS: This NFT just sold for $16.4M 💰

March 21, 2024

Today’s edition is brought to you by DeepBrain Chain – a decentralized high-performance GPU computing network backed by a dynamic community uniting developers, investors, founders, and policymakers who are leading the charge in mainstreaming cryptocurrency. 

GM. This is Milk Road, where we share crypto wisdom like passing down a family recipe – with care, tradition, and a pinch of secret spice.

Here’s what we’re serving up today:

  • Ethereum is on the hot seat! 🧐

  • Chart of the Day: The most popular blockchain ecosystems 📊

  • This CryptoPunk just sold for $16.4M 💰

  • RWA tokens are up BIG đŸȘ

4 GRAPHS YOU NEED TO BE TRACKING RIGHT NOW

Crypto’s a lot like middle school. You’ll be doodling in the back of the class (probably practicing the “cool S”) when suddenly


**the loudspeaker crackles to life**

It’s a call from the Principal’s Office. 

The room freezes. Everyone holds their breath, quietly thinking “Not me, not me, not me.”

Well, yesterday Ethereum’s name was called. Here’s everything you need to know:

1/ The Ethereum Foundation’s “warrant canary” is missing. 

I’ll be honest. I was Today Years Oldℱ when I first heard the term “warrant canary.” 

I thought it was a rare bird. But with a little googling, here’s what I found: 

  • It’s a statement companies put on their website. 

  • It shows they haven’t received any actions (i.e. lawsuits) or requests (i.e. subpoenas) from the government or law enforcement authorities. 

  • It’s an indirect way of saying “The FBI has NOT been here.” Or when it’s missing, it’s a quiet way of telling the world the government has been there.

It’s kind of like when I go out to dinner with my wife and she gets a piece of her salad stuck between her teeth... 

I could stand up on my chair and yell: “Hey, everyone, check out lettuce mouth over here”! 

But that would get us a lot of unwanted attention (and put me in the dog house).

So, instead, I just signal to my wife that she has something in her teeth. No public announcement needed.

A warrant canary is the same thing. And yesterday, people noticed that the Ethereum Foundations’ was missing. 

According to a message from the Ethereum Foundation, it received a “voluntary inquiry from a state authority, which included a requirement for confidentiality.”

Milk Road Translation: The government was here.

On top of that


2/ The SEC has reportedly started an “Ethereum is a security” legal campaign. 

According to a Fortune report, the SEC has subpoenaed multiple U.S. companies in hopes of gathering more data to justify that ETH should be classified as a security. 

  • The SEC is demanding companies provide documents and financial records related to their dealings with the Ethereum Foundation.

  • The investigation began shortly after Ethereum’s shift to a “proof-of-stake” governance model in September 2022.

  • The proof-of-stake transition has provided the SEC with some new ammo to define Ethereum as a security.

We’ll be keeping a close eye on how the situation unfolds but it looks like Ethereum is (once again) in the crosshairs of the SEC.

DBC (DeepBrain Chain) was established in 2017, with its main network going live in 2021, and its technology maturing by 2024. 

Built on blockchain technology, it leverages an incentive mechanism to bring global idle GPU computing power onto the blockchain. It has technically achieved a global, decentralized network for scheduling high-performance GPU computing power. 

Its GPU compute nodes can consist of large GPU server clusters, spare GPU servers from small and medium-sized enterprises, and idle GPU machines from individuals.

On the demand side, DBC provides GPU computing services to sectors such as artificial intelligence, cloud gaming, cloud esports cafes, and zero-knowledge proofs.

DBC can help businesses reduce GPU computing costs by 70%. Specifically, in the cloud gaming and cloud esports cafe sectors, it closely collaborates with DeepLink Protocol, which offers ultra-low latency cloud gaming rendering technology. 

This partnership reduces cloud gaming latency to 1 ms, delivering a supremely smooth cloud gaming experience.

The DBC Token is the exclusive token used within the DBC network for GPU usage. Each GPU rental transaction results in a 30% destruction of the tokens. So, as the number of GPUs increases, the amount of DBC destruction will also increase.

CoinGecko just dropped a report on the most popular blockchain ecosystems this year


The results?

  • Solana is leading the way with 49.3% of global crypto investor interest. This has been fueled by strong performances from key ecosystem projects and memecoins.

  • Ethereum is in second place with 12.7%. This is likely due to high gas fees and Solana memecoins turning into crypto’s “new shiny object.”

  • BNB Smart Chain is in third with 5.4%. The ecosystem has grown on the back of BNB’s price rallying near its all-time high. 

Check out the rest of the standings below:

We’re curious


Which blockchain are YOU using the most right now?

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Click on your answer above and we’ll share the answers tomorrow!

THIS CRYPTOPUNK NFT JUST SOLD FOR $16.4M💰

Alert the press


NFTs are selling for Beverly-Hills-mansion money again! (Butler and bball court not included).

  • CryptoPunk #7804 sold for 4,850 ETH, worth $16.42M, yesterday.

  • It’s the second most expensive CryptoPunk sale ever.

  • It’s also the second CryptoPunk NFT to sell for $16M+ this month. (CryptoPunk #3100 sold for $16.03M on March 4th).

Without further ado, here it is


P.S. - Congrats to Peruggia on the sale. Hope you eat good tonight!

(Or f*ck it, just buy the whole restaurant).

BITE-SIZED COOKIES FOR THE ROAD đŸȘ

Hacken, a blockchain security auditor, has opened its doors to potential investors who have passed KYC and requested whitelisting for Hacken Equity Shares. KYC verification and swapping to $HES are available until April 14, 2024.*

RWA tokens and memecoins have seen big gains over the last 24 hours. The RWA market cap jumped 31%, while the memecoin market cap is up 16%. 

U.S. interest rates hold steady for the 5th consecutive FOMC meeting. Projections are now only calling for 3 rounds of rate cuts by the end of the year. 

Coinbase will be launching futures trading for Dogecoin, Litecoin, and Bitcoin Cash starting April 1st. $DOGE (+15.9%), $LTC (+6%), and $BCH (+12.7%) are all up in price over the last 24 hours.

Robinhood rolled out its crypto wallets to Android users globally. The wallet allows users to hold private keys, granting them control over their digital assets.

The TON Foundation is launching a new $100M+ ‘community rewards initiative’. The funds will be allocated to competing projects and TON ecosystem users starting next month.

Tyrese Haliburton is considering taking a portion of his NBA salary in crypto. FYI - Haliburton currently has a 5-year $260M contract. 

*This is sponsored content

HELP THE MILK MAN DELIVER đŸ„›

We’re assembling a team. If you


  • Are fluent in “Blockchain”

  • Have a PhD attitude (poor, hungry, and determined)

  • Like cracking jokes about ‘hard forks’ 

You might just be the perfect fit!

If this is you, what are you waiting for? Fill out the form here.

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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.