ConsenSys IP Tracking, WBTC/WETH FUD & Influencers in the Bahamas
Daily Bullets: Monday, November 28th
Long Holiday Weekend Recap: We see troubling news that ConsenSys collects IP addresses and wallet addresses for those using Infura - highlights the fight for privacy in crypto. Crypto influencers have been busy flying to the Bahamas to look for SBF. WBTC is slightly off peg however the WETH FUD we're seeing is a meme. BlockFi is the latest casualty in the FTX fallout with liabilities ranging from $1B to $10B. Fantom claims to be cash-flow positive, earning more than $10M in annual revenue. Amazon Prime Video 8 episode series on the SBF and the FTX Saga in the works with Marvel's Russo brothers to work on it with potential Marvel actors.
In general, the markets continue fairly range bound with most attention speedrunning one FUD event after another.
We still have the cloud of "which firm will fall next" hanging over our heads. Today we see BlockFi filing for bankruptcy and we still have vulnerable players left
How it started:
How it’s going:
Daily Bullets: Long Holiday Weekend Recap:
- ConsenSys collects IP addresses and wallet addresses
- Binance officially launched the Industry Recovery Initiative with a $1B commitment
- Crypto Twitter influencers converged on the Bahamas in search of SBF
- WBTC/WETH FUD - WETH is a meme gone too far
- BlockFi will file for Chapter 11 bankruptcy protection and lay off a large portion of its staff
- Fantom blockchain is cash-flow positive, earning more than $10M in annual revenue
- Amazon Prime Video working on an 8 episode TV series on SBF and the FTX Saga
- 1inch new feature to prevent MetaMask users from getting hit by sandwich attack frontrunning
- WBTC DAO moved to a new smart contract multisig, replacing signers that are no longer active
- Aave temporarily freezes lending for 17 tokens after last week’s massive short left bad debt
- Deadmau5’s Pixelynx unveils augmented reality music metaverse NFT scavenger hunt
Now for a more expanded and detailed look at the day…
Crypto News:
- Ethereum-focused software company ConsenSys collects IP addresses and wallet address information of those who access Ethereum wallet MetaMask via the blockchain infrastructure service Infura. Alternative RPC providers like Ankr, and others don’t collect such data but they may collect such data if they want to. Other RPC providers, such as Alchemy, Moralis and QuickNode, also stated that they are collecting personal information such as IP addresses if you used their services
- Binance officially launched the Industry Recovery Initiative with a $1B commitment and intent to commit a further $2B if the need arises. Jump Crypto, Polygon Ventures, Aptos Labs, Animoca Brands, GSR, Kronos and Brooker Group have also committed to participating with an initial aggregate commitment of around $50M
- Crypto lender BlockFi will file for Chapter 11 bankruptcy protection and lay off a large portion of its staff
- Wrapped ether remains perfectly fine, despite jokes on Twitter
- Amazon Prime Video started work on an 8 episodes TV series on SBF and the FTX Saga with "Avengers: Endgame" directors the Russo brothers with multiple Marvel actors in talks to star
- Blockchain development firm Starkware has open-sourced a new release of its programming language Cairo - the first step in a wider move to make its entire blockchain stack for StarkNet open source
- Crypto Twitter influencers converged on the Bahamas in search of SBF
- Independent developers from The Open Network (TON) community developed a Telegram bot for trading and transferring cryptocurrency
- Crypto users have left $27M of funds unclaimed in the Polygon bridge, potentially due to the two-step withdrawal process
- Fantom blockchain is cash-flow positive, earning more than $10M in annual revenue
- Taipei blockchain week - December 12–17, 2022. General Admission: $125
- $25M Casper Accelerate Grant Program will support learning, development, and innovations in Infrastructure, dApps, DeFi, Gaming & NFTs
Exchange News:
- Binance released its Proof of Reserves (PoR) System. On-Chain Reserve: 582,485.9302 BTC
- Wemix will be delisted from major South Korean exchanges in December due to concerns about its token distribution.The Wemix team called the move unreasonable and vowed to fight it
- Introducing Bybit's $100M Institution Support Fund. Who is eligible: Market maker and HFT institutions on Bybit or other exchanges
- Huobi denies rumors it will merge with Poloniex
- Coinsquare, one of Canada’s largest cryptocurrency exchanges, may have had client data breached, but claims customer assets are secure in cold storage and are not at risk
- Japanese messaging giant Line has decided to shut down its cryptocurrency exchange business amid the ongoing crypto winter but will still continue to run its other blockchain ventures, including the Line blockchain ecosystem and Link (LN) token
- Coinbase and Coinbase Pro will list Vulcan Forged PYR
DeFi News:
- DEX aggregator 1inch introduced a feature called RabbitHole that's designed to prevent MetaMask users from getting hit by sandwich attack frontrunning
- WBTC DAO, the community that administers the Wrapped Bitcoin project, is moving to a new smart contract multisig, replacing signers that are no longer active. FTX, Airswap, MakerDAO and others have been removed
- Aave has temporarily frozen lending markets for 17 tokens and stablecoins on Ethereum after a massive short position on Aave’s CRV market resulted in a bad debt of $1.6M
- Ape Staking Update: shortened the pre-deposit period by a week to keep original December 12 launch
- The MakerDAO community rejected a proposal to use up to $500M of the stablecoin USDC to invest in bonds with crypto investment firm CoinShares
- Cardano DeFi project Ardana halts development, citing funding, timeline concerns. Previously closed a $10M round led by now bankrupt crypto hedge fund firm Three Arrows Capital last year
NFT/Gaming/Metaverse News:
- nftperp Beta Mainnet is officially live
- Moonbirds now purely “in-chain”, which means no external dependencies—the art is generated exclusively by smart contracts. Each bird is now assembled by one contract from image layers stored elsewhere, all on chain
- Deadmau5’s Pixelynx unveils augmented reality music metaverse NFT scavenger hunt: ‘Rock Band Meets Pokémon Go’
- Prada presents the new Timecapsule NFT Collection. Each drop is linked to both a limited edition physical product and a gifted NFT
Fundraises:
- Web3 game publisher Fenix Games raised $150M in funding to acquire, invest and distribute blockchain games. Saw participation from investors, including Phoenix Group and Dubai-based venture capital firm Cypher Capital
- Crypto lending firm Matrixport, led by Jihan Wu, is looking to raise $100M at a $1.5B valuation
- XanPool—a cross-border payments infrastructure provider—is accelerating expansion plans across Europe, Middle East, North Africa and Latin America after raising $41M
- Kiln, an Ethereum Staking-as-a Service startup, raised $17.6M in a Series A funding round from a group of investors including Consensys, GSR Ventures and Kraken's venture capital arm
- Blockchain research and development firm Proximity Labs and three DEXs on the Near Protocol blockchain - Orderly Network, Spin, and Tonic - announced a $10M developer fund
- Hack VC, Placeholder, and Blockchain Capital have invested $10M in Across Protocol at a $200M valuation
- Midnight emerged from stealth to announce $7.5M in seed funding earmarked to build a studio and platform to create Web3 games
- t3rn, a Polkadot-based blockchain interoperability protocol that aims to facilitate cross-chain transactions, raised $6.5M in a strategic funding round led by Polychain Capital with Huobi Ventures, Figment Capital, Blockchange Ventures, Lemniscap and others participating
- XDao, a multichain DAO builder, raised $2.3M in a seed round at a $50M valuation from DWF Labs, Telos Foundation and Grizzly Capital
- nftperp raised a total of $1.7M at the valuation of $17M from funds and angels include: Dialectic, Maven 11, Flow Ventures, DCV Capital, Gagra Ventures, AscendEX Ventures and more
Early Stage Projects:
- The $ACX token is live and ready to claim. An ERC20 token that controls the Across.to cross-chain bridge
Data:
TL;DR: Fantom came out with some financial info regarding their performance and holdings so we’re taking a look at some user metrics for Fantom. We can see there was a recent spike in daily active addresses on Fantom, however daily transactions have been on a downtrend since the summer. Pricewise, Fantom is currently at the same level it reached during the summer 2021 lows.
Daily Active Addresses & Daily Transactions:
Active Addresses:
Price:
Research/Reads:
- A Grand Unified Theory of the FTX Disaster - source
- The Future of MEV is SUAVE - source
- The Uniswap Airdrop - Lessons for the Industry - source
- Why Nobody Really Uses Web3… Yet - source
- Arthur Hayes - White Man - source
- The Grayscale (GBTC) Effect - Part Three: 3AC, Grayscale, Genesis, and DCG - source
Crypto Twitterverse:
I’m seeing a lot of misunderstandings around our updated privacy policy that need to be clarified.
1/21
— Joseph Lubin (@ethereumJoseph)
Nov 25, 2022
1/ Welcome to the biggest ponzi game of 2021.
A game that let SBF build an empire on what can be described as FDV - Faulty Designed Valuations.
He used it to borrow billions of capital in order to gain political and media influence.
Let's take a look into this methods..
— Ben Lilly (@MrBenLilly)
Nov 24, 2022
A reaction thread to @AndreCronjeTech article - Fantom: an inside financial peak at being a 'crypto company'
🍿🧵👇
— The Crypto Illuminati (@0x_illuminati)
Nov 28, 2022
Reading the replies I feel like I should clarify
This is a shitpost/meme - there is nothing wrong with WETH and you can always redeem 1 ETH for 1 WETH
Though if you don't believe me I'll buy all of your WETH right now for 0.3 ETH
Sell me all you want
Then go fuck off
— sassal.eth 🦇🔊 (@sassal0x)
Nov 27, 2022
There are a lot of funny jokes today about WETH (wrapped ether) crashing or being insolvent. WETH is not in trouble, and I want to explain the joke for those who may have been worried seeing the tweets today.
— Hudson Jameson (@hudsonjameson)
Nov 27, 2022
A lot of people making jokes about WETH.
Please be aware it may not be obvious to outsiders that it's completely different from bridged assets and there is literally almost zero risk. I think it would be better to mark these more clearly as jokes.
— Dankrad Feist (@dankrad)
Nov 27, 2022
So a surreal thing happened a few weeks ago, by a beach during sunset. 10 german teens 5 guys 5 girls, all drunk, waded waistdeep into the ocean, taking tiktoks of the moment
Riptide started pulling them in deeper, one guy said "lets go back," the group ignored
— Zhu Su 🔺 (@zhusu)
Nov 10, 2022
The outcome was not surprising sadly, but it was nevertheless an interesting (two hour) hearing. It's the first time the public prosecutor explained their reasoning.
But ultimately this wasn't about the merits of the case, only about whether to extend his detention. twitter.com/CoinDesk/statu…
— Sjors Provoost @[email protected] (@provoost)
Nov 22, 2022
Major changes coming to the crypto industry in 2023
— Alex Krüger (@krugermacro)
Nov 28, 2022
Did we miss anything or is there anything you want to discuss? We’d Love to hear your feedback and engage with the community! Feel free to leave a comment and let us know your thoughts on the Crypto market!
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