GM, this is The Crypto Explorer, the only newsletter that's sizzled with spicy updates, it'll leave your taste buds begging for mercy! 😂

Here’s what we got for you today:

• 🌎 Coinbase goes global: Abu Dhabi, Brazil, and Canada next!

• 🔐 SushiSwap Recovers Stolen Funds

• 🧱 Around the Block: Rebase Co-founder goes rogue

🌎 Coinbase Goes Global: Abu Dhabi, Brazil, and Canada Next!

Coinbase has just received a Class F license to operate in Bermuda!

With this license, Coinbase can conduct digital asset-related services such as issuing, selling, or redeeming digital assets within the offshore financial haven of Bermuda.

Why Bermuda?

Rather than fighting an entire regulatory body hellbent on ruining their business (84% of Coinbase's revenue comes from the US), this move is a Plan B worth taking.

But they're not stopping there!

Coinbase reportedly plans to establish an offshore derivatives exchange in the British Overseas Territory, offering perpetual swaps and other crypto derivatives previously inaccessible in the US due to tight regulatory restrictions.

Coinbase also plans to expand operations in Abu Dhabi, Brazil, and Canada.

As you can see, this is serious! Just one regulatory decision can put them out of business.

So, they're doing their best to combat that vulnerability, we wish Coinbase the best of luck with its expansion plans.

🔐 SushiSwap Recovers Stolen Funds

SushiSwap has successfully recovered an additional $600,000 in cryptocurrency stolen from users earlier this month.

The attack saw crypto worth more than $3.3 million drained, and users who had approved the relevant smart contract in their wallets were urged to immediately revoke approval.

Unfortunately, SushiSwap smart contract wasn't upgradeable, but they didn't let that stop them from taking action!

A "whitehat rescue" was determined as the best way forward to drain vulnerable funds before they could be stolen.

Blockchain security startup HYDN helped SushiSwap carry out the rescue and has so far managed to recover over $600,000 in user funds.

SushiSwap paid the firm a $200,000 bounty for their efforts.

The secured funds are currently in HYDN's wallet and will be distributed to affected users once SushiSwap completes a contract audit.

Hopefully, the audit goes smoothly, and the affected users can finally breathe a sigh of relief.

So far, SushiSwap has retrieved a total of 885 ETH ($1.76 million), with another 795 ETH ($1.58 million) kept in a rewards vault.

kudos to Sushiswap!

 🧱 Around The Block: EU adopts crypto

• 🫡 EU adopts crypto: The European Parliament adopts crypto-focused MiCA legislation

• 💸 Sotheby's auction: Sotheby’s will auction off part of 3AC's digital art collection.

• ⚖️ Texas anti-mining bill: Crypto firm Mawson sells Texas sites for $8.5M ahead of the vote on anti-mining bill.

• ☄️ Eth Gas fee jumped: Ethereum gas fee jumped due to memecoin frenzy with mixed comments on network usability

That's all we have for today.

We'd love your feedback.

In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.