So what did the crypto markets do over the weekend? Not much. Grinded sideways. Bitcoin is hanging out in the low $21k region and ETH chilling in the $1500s. What will the next disaster be that captures all our attention and causes us to talk about it nonstop for a couple days until we move on to the next?? Stay tuned as we follow along, as always!
⛓ Crypto News:
- Hodlnaut reports $193M financial shortfall as it seeks court protection
- South Korea plans to tax crypto airdrop recipients
- BendDAO contract drained with 15 ETH left to pay lenders. Many NFTs that were used as collateral in the platform have defaulted without any bids
- Former OpenSea employee accused of insider trading files motion to dismiss indictment. Lawyers argue in the motion that NFTs are neither securities nor commodities, and wire fraud cases require trading in securities or commodities
- Ronin hackers transferred stolen funds from ETH to BTC and used sanctioned mixers
- Stephan Tual, one of the main designers behind the structure of The DAO, has left the Ethereum community after nine years — citing a disconnect between what he wanted to build and what he feels the project has become
- Samsung files to launch Bitcoin and crypto exchange in South Korea in 2023
- Crypto exchange Huobi’s stablecoin HUSD, it’s back up to its $1 peg today after destabilizing last week
- FDIC issues cease-and-desist letters to FTX US, other crypto firms over deposit insurance
- FTX revenue reportedly grew 1000% in one year, from $14M to $272M in FY 2020-21
- Tribe DAO proposes a $157M redemption for token holders, Rari hack victims
- Uniswap has blocked 253 crypto addresses related to stolen funds or sanctions
- FTX is warning users not to interact with privacy protocol Aztec, calling it a ‘high risk’ mixer
- Sushi Searching for a Sushi Head Chef (CEO)
- Cardano founder Charles Hoskinson has continued to refute claims that the Cardano’s testnet is “catastrophically broken,” implying the need to finally move forward with the long-delayed Vasil hard fork
- Liquidity crunch on BSC C.R.E.A.M. markets caused by the BNB Boosted Savings program
- Olympus V3, aka codename Bophades, is finally going into Code Arena audit this week
- Dogechain is Live on Synapse
- Kujira - public TestNet is live for minting USK & bidding on liquidated collateral on ORCA
- Umami To Pause USDC Vault, Reimburse Depositors & Prioritize “v2” Vaults
- Polkadot Ecosystem Weekly Digest
📊 Data:
- Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to...
- Inflow: WBTC ($19M), USDC ($3.4M), AURA ($748k), LYRA ($465k), LDO ($391k)
- Outflow: WETH ($21.5M), wNXM ($2.2M), DAI ($1.1M), AAVE ($712k), PAXG ($390k)
- Nansen NFT Hot Contracts:
- BAYC: 1208 ETH
- MAYC: 662 ETH
- Pudgy Penguins: 630 ETH
- CryptoPunks: 505 ETH
- Isekai Meta: 425 ETH
🎓 Research:
- Bybit Crypto Insights - Quarterly report on Solana - source
- Crypto Gaming: A Most Practical Thesis - source
- OFAC Sanctions & Ethereum PoS – Some Technical Nuances - source
- State of Aave Q2 22 - source
- Bankless - The AMM Edition (Part II) | DeFi Download - source
- EOS Foundation quarterly report - source
- The State of DeFi Lending newsletter - source
- Smart Contract Automation: State of the Art (hack view) - source
- MEV capturing AMM (McAMM) - source
- Humble Farmer's CANTO Guide - source
- Can Aave's GHO stablecoin help the protocol further grow and overtake MakerDAO and DAI? - source
- Hype Cycles - source
🖼 NFTs/Metaverse News:
- CryptoPunks takes top floor price spot from Bored Apes. Potentially related to BendDAO
- Introducing the Pudgy Penguins Advisory Board
- NFT lender BendDAO begins vote to change protocol amid liquidity crisis
- The first 100% on-chain university course "Introduction to NFTs and the Metaverse"
- Rally is ‘democratizing’ ownership of a rare Noun NFT
🌍 Crypto Twitterverse:
📈 Fundraises:
- Global investment management firm Invesco is set to launch a $30M Invesco Metaverse Fund, in a move that will see it invest in a range of companies globally from across the ecosystem
- Microtraction hits $15M first close on its second fund for pre-seed investment in African startups
- Safeheron Raises $7M
- DAM Finance Raises $1.8M
- INDEX GAME Raises $1.7M
- ReDesyn Raises $500K
- Dopex invested in Rage Trade
Momentum 6 offers research, analysis, and coverage of the fast-paced Crypto space.
The Crypto space never sleeps. Each day is filled with an overwhelming amount of information spread across various sources.
This newsletter offers a Crypto-native perspective and a one-stop shop for everything you need to stay updated on the daily goings on in the Crypto world.
Subscribe to receive our brief daily and extended weekly newsletter along with in-house research content!