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  • šŸ„›Trouble at Binance.US? šŸ˜³

šŸ„›Trouble at Binance.US? šŸ˜³

PLUS: How to save money with a flashbot šŸ¤‘

GM. This is Milk Road, the battlefield of crypto news. We're here to cover the front lines of the digital currency revolution.

Hereā€™s what we got for you today:

  • Why you should use a flashbot šŸ›”ļø

  • Trouble at Binance.US šŸ‘€

  • Web3 Wednesday! šŸ“

  • Kim Jong-Un signs up for an exchange šŸŖ

Prices as of 10am EDT

šŸ’ø Want to earn $100k+ as an Ethereum developer? Our partner Metaschool can get you there in 6 weeks with their Solidity developer program. They are only accepting 200 more applications! šŸ’ø

PROTECT YOURSELF FROM MEV BOTS šŸ›”ļø

Everyone in crypto has their eyes on one wallet: jaredfromsubway.eth. Talk about a blast from the pastā€¦

Why? Because jaredfromsubway.eth has been printing money with a MEV bot. These bots pay high fees to front run other transactions and secure the best prices.

And since PEPE launched, the MEV bot has made more than $6M. Thatā€™s enough for foot long subs for LIFEā€¦

EIGENPHI

The craziest part? Jaredfromsubway.eth has paid ~$30M in total fees across 150K+ transactions. Everyone knows thereā€™s no such thing as free lunch. 

EIGENPHI

Jaredfromsubway.ethā€™s MEV bot is able to spot more opportunities and transact faster than others. And not just anyone can set one up, it takes a lot of knowledge and resources.

Competing with Jared is like trying to compete in an F1 race with a go-kart. But donā€™t worry, thereā€™s a way to protect yourself from being front-run and save money.

Itā€™s called a flashbot. It hides your transactions from the public, and saves you gas money by not allowing swaps to fail.

Hereā€™s a dope guide we created that helps you set one up:

Youā€™re just one step away from becoming a Solidity Developer.

That baby step starts with our partner, Metaschool. Their Solidity Mastery Fellowship closes applications this Sunday and the competition is so hot, you could call them Metasauna.

Whatā€™s all the hype about?

  • Initially, they set out to fill 150 seats but have already received an overwhelming response from professional developers - shortlisting will be tough, we assume!

  • The Metaschool Fellowship DAO will include 300+ founders from web3 companies, offering an exclusive club to showcase projects, make connections and search for new opportunities

  • Applications have come in from the US, UAE, India and Europe with many of them being Milk Road readers šŸ„›

The course begins on June 2nd, and there are only 4 days left to drop your applications for the Genesis Cohort.

Donā€™t miss your chance to jumpstart your career and become the newest kid on the block(chain). Thereā€™s only room for 200 more people to sign up, so act quickly!

BINANCE.US, YOU GOOD? šŸ‘€

Thereā€™s new noise coming from Cryptoā€™s Rumor Mill. So break out your saucers, here comes the teaā€¦

Binance.US might be in trouble. 

Why? There are two unusual things happening on the third largest exchange in the U.Sā€¦

1/ Bitcoin was trading at a $700 premium on Binance.US

If you wanted to buy BTC on Binance.US youā€™d have to pay ~$28,393. All other exchanges (like Coinbase) had it priced at ~$27,722. First my eggs, now my BTC. 

Why? Many think it could be because of low liquidity. AKA the two scariest words for a crypto exchange. There are two theories going around as to why.

Theory A: Market movers know thereā€™s regulation coming so theyā€™re getting the f*ck out.

Market makers leaving = lower liquidity = price volatility (in this case, a ~2.4% increase)

Dun dun duuun.

Theory B: Fiat withdrawal issues. Itā€™s tricky trying to off-ramp from Binance.US because it doesnā€™t doesnā€™t have a wire partner right now.

2/ Binance.USā€™s main staking wallet withdrew all its funds from staking pools

All the money was sent to the safety of hardware wallets where it could be used toā€¦ shore up liquidity perhaps. šŸ‘€

The cherry on top? The main Binance exchange was already struggling, for unrelated reasons.

It had to pause withdrawals twice on Sunday because the network was so congested (theyā€™ve resumed since.) That memecoin mania thoughā€¦

Milk Road Take: Obviously donā€™t believe everything you read on the internet. Butā€¦ where thereā€™s smoke, thereā€™s usually fire.

Be safe out there, Roadies.

WEB3 WEDNESDAY šŸ“

You know what day it isā€¦. Web3 Wednesday!! AKA the day we show you all the cool open Web3 gigs out there.

Here ya go:

P.S. - Are you trying to hire in Web3? Learn how to get your open jobs in front of 250K+ crypto enthusiasts here.

MILK & COOKIES šŸŖ

Former Coinbase manager sentenced to 2 years for insider trading. Looks like heā€™ll be swapping his portfolio for a prison jumpsuit.

Alameda wallets acquired ~$57M worth of Tether + $300K from OKX. Not the billions they were hoping for, but still good news for FTX creditors.

Microsoft and Goldman partner for privacy-enabled blockchain, Canton Network. The whoā€™s who of the corporate world are hopping on the blockchain train - all aboard!

MILKY MEMES šŸ¤£

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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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