Daily Bullets 💊: The SEC is Finally Getting Serious! Going After Kim Kardashian
💊 M6 Daily Bullets 💊 Monday, October 3rd
Crypto continues to be trapped within the same boring and tired range with Bitcoin in the $19k region and ETH ~ $1300. Main thing to notice today is the SEC going after one of the Kardashians for undisclosed paid shills and this highlights a growing trend we’ve been seeing of stepped up regulatory enforcement actions by the SEC and other government agencies. Gary Gensler even came out with a video announcing the issue and action. Targeting the Kardashian feels like they’re just trying to send a message with a prominent figure but this sets the tone for what we can expect in the coming months and years. The days of crypto being like the wild west may be drawing short.
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⛓ Crypto News:
- US SEC charges Kim Kardashian for promoting EthereumMax and Kardashian has agreed to pay $1.26M in penalties, disgorgement and interest
- Celsius’s former CEO withdrew $10M before the firm’s bankruptcy reportedly to pay back state and federal taxes accrued from his income from his Celsius assets
- Stablecoin issuer Tether has cut its commercial paper holding to less than $50M and plans to bring its commercial paper holdings to zero by the end of the year
- The launch of BitMEX exchange token, BMEX, was delayed due to market conditions, but the exchange’s CEO wants to get it launched before the end of 2022
- Indian crypto exchange WazirX cuts 40% of staff two months after Indian authorities began investigating WazirX for alleged money laundering
- The Sushi DAO community has voted to elect former Eons Finance CEO Jared Grey as new Head Chef
- Solana back online following latest network outage caused by a misconfigured node that stopped the blockchain from processing transactions
- The CFTC is bringing action against Digitex Futures and its founder for failing to register and attempting to pump its token
- The SEC filed charges against four men behind Bermudan company Arbitrade Ltd., Canadian firm Cryptobontix Inc., and U.A.E.-based Sion Trading for allegedly running a pump-and-dump cryptocurrency token scheme worth $36.8M from 2017 until 2019
- Binance and Kazakhstan have formalized their shared interest in developing and regulating the national cryptoasset market
- Circle has created the first Verite KYB (‘Know Your Business’) credentials that are easily secured in a MetaMask Institutional wallet, just like digital assets
- Cathie Wood’s Ark Invest and Eaglebrook Advisors have partnered to bring crypto strategies to investors via separately managed accounts
- Wintermute hack replicated on a standard M1 Macbook with 32GB of RAM in under 48 hours by exploiting Profanity flaw
- ETHOnline recap and 14 finalists
- Flashbots now accounts for 39% of Ethereum blocks as censorship concerns rise
- Phase 1 of Nightshade is live on NEAR's mainnet
- OAK Network wins Polkadot's 28th parachain auction + Polkadot ecosystem weekly digest
- Winners of the Klaytn Challenge at HackBoston, the largest student-only hackathon of 2022 held in partnership with Harvard and MIT Blockchain
- Hacker returns 70% of $21M taken from Transit Swap DEX
- Solana Testnet is live on Multichain
- Proposal to increase the Compound III collateral supply caps for ETH, WBTC, and COMP
- Aptos - BlueMove Version 2 is coming - BlueMove is the leading Multi-chain NFT Marketplace on Aptos & Sui
- AltLayer alpha devnet - an EVM-compatible execution layer w/ fast block finality is live
- Theta upgrade goes live to support wTHETA as TNT20 token
- Raydium launching open beta for Concentrated Liquidity pools, contributing to the advancement of capital efficiency & ecosystem-wide liquidity on Solana
- Vyper Vaults is now live on mainnet
- Announcing STARKSCAN - a next-generation StarkNet block explorer
- Governance proposal - remove and secure the stablecoin Terra Market Swap
- PussyDAO is a new Web3 startup that plans to sell Solana-based NFTs that can be redeemed for physical panties and other goods
- Introducing Waterfall - an NFT trading protocol that enables price speculation with a lower cost-to-entry
- Introducing Knox Finance - DeFi Option Vaults with built-in risk tooling
What’s your take on today’s news? Anything interesting that you have to say about these stories? Did we miss anything that should’ve been included?
📊 Data:
TL;DR: Today’s biggest inflow is for LINK (just 1 buyer) and MATIC (into Polygon Foundation) and outflow from USDC and USDT. Weekly shows largish outflows from USDC and USDT. For NFTs: Renga has been getting strong volume and Kitaro floor is up 987% in the past 3 days
- Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to...
- Inflow (1D): LINK ($13M), MATIC ($10M), WETH ($8.8M), MANA ($780k), SAND ($409k)
- Outflow (1D): USDC ($5.2M), USDT ($2M), DAI ($931k), AXS ($217k), aWETH ($195k)
Weekly:
- Inflow (7D): LINK ($13M), aWETH ($13M), MATIC ($12.4M), cETH ($9.7M), APE ($6M)
- Outflow (7D): USDT (43.6M), USDC ($26.9M), RPL ($18.3M), WBTC ($3.3M), BUSD ($3M)
- Nansen NFT Hot Contracts:
- RENGA: 679 ETH
- Kitaro: 514 ETH
- ETHRegistrarLinageeWrapper: 316 ETH
- ENS: 300 ETH
- Otherdeed: 222 ETH
What is the Data telling you? See anything that sticks out to you?
🎓 Research:
- Glassnode - Hashrate Hits New Highs - source
- Vitalik - How much can we constrain builders without bringing back heavy burdens to block proposers? - source
- Huobi Research - New Move of Cosmos: It All Starts with Interchain - source
- The State of DeFi Lending - source
- Recent Crypto Ideas Worth Exploring - source
- What is regenerative finance (ReFi) and how can it impact NFTs and Web3? - source
- The feds are coming for the metaverse — from Axie Infinity to Bored Apes - source
- Censorship... wat do? The Road Ahead - source
Have you seen our institutional-quality research?
🖼 NFTs/Metaverse News:
- LooksRare - starting from the Listing Rewards period that begins on October 3rd, only verified collections will be eligible to earn Listing Rewards
- Introducing the PhotoVogue NFT Residency collection
- Dolphin Entertainment’s flagship NFT collection, Creature Chronicles, an intergalactic, immersive storytelling experience from former Marvel Studios' artist Anthony Francisco, sold out in about 90 minutes
- Tamadoge, a blockchain-powered P2E game ecosystem allowing users to mint, breed, and battle with their Tamadoge pet in the metaverse, has confirmed plans to launch its new NFT collection this week
🌍 Crypto Twitterverse:
📈 Fundraises:
- NYDIG has raised $720M for its Institutional Bitcoin Fund according to a filing with the SEC
- Gaming technology startup Improbable to raise a new funding round of $111M as it sets its sights on creating metaverse worlds for buzzy Web3 firms like Bored Ape Yacht Club-creator Yuga Labs
- Crypto checking account provider Juno raises $18M and launches token JCOIN via airdrop for its tokenized loyalty program
- Blowfish, a firewall provider aiming to help Web3 firms fight off the cyber attacks, raises $11.8M
- Fabric raises $4M to boost fan interaction platform
- Ingram Content Group, the world's leading book distributor, invests in web3 eBook startup Book.io
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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