Bitcoin saw some interesting volatility over the weekend and now looks like it wants to push upwards to test $20k. That $19k level has been resilient af. Let’s see how this attempt goes. So many questions arise with the Mango Markets exploiter. He’s essentially coming out with a 40% bounty (counter to the standard 10%) with an agreement not to pursue any legal action. Will this hold up in court? Would it ever go that far? The dude is bold af - he was on twitter shitposting about a bet that he won’t be charged with a crime by the end of 2023. Many crypto natives believe “code is law” - highly doubtful law enforcement will eventually see it that way - another example highlighting just how much this space is like the wild west.
⛓ Crypto News:
- Mastercard is launching a program in partnership with Paxos to let financial institutions offer cryptocurrency trading to their clients. Mastercard will handle the regulatory compliance and security — two core reasons banks cite for avoiding the asset class
- Avraham Eisenberg, the man behind the $114M exploit on Mango Markets, confirmed that he orchestrated the attack and claims all actions were legal after after returning $67M - crazy $47M bounty
- StarkWare's token will launch within this month of October
- The ApeCoin DAO is considering whether to push back the launch of NFT and ApeCoin staking in order to allow for a 1 million APE ($4.5 million) bug bounty program and last 2-4 weeks
- Flashbots upgrade SUAVE - aims to address censorship resistance and concerns over decentralization
- Ripple is testing a way for developers to deploy smart contracts made for the larger and more popular Ethereum on its XRP Ledger (XRPL) blockchain with little effort
- Bitgreen wins Polkadot's 29th parachain auction and DAO IPCI has won the 55th Kusama auction + Ecosystem Weekly Digest
- North Korean cyber crime group Lazarus has been aggressively targeting Japanese crypto companies through phishing and social engineering attacks
- Cosmos IBC security vulnerability patch
👨⚖️ Economic/Government/Regulatory:
- FTX founder Sam Bankman-Fried agrees with CFTC Commissioner Christy Goldsmith Romero over the benefits of disclosures and knowledge tests for trading
💸 Exchange News:
- FTX US and its founder Sam Bankman-Fried are under investigation by Texas’ securities regulator
- Gemini co-founder Cameron Winklevoss is no longer a director at Gemini Europe
- Coinbase is hinting it may sue about 1,000 users in the republic of Georgia for taking advantage of a pricing glitch
🏦 DeFi News:
- Aave progress update on the development of GHO
- Decentralized stablecoin issuer Frax Finance to publicly release liquid staking protocol within two weeks
- Crypto investment firm Hivemind deploying $25M into Algorand DeFi is one of several catalysts attracting liquidity to the Layer 1 chain. TVL hit a new all-time high of $270M
- MetaMask is making it easier for users to turn their fiat into crypto through an integration with fintech firm Sardine
- Rabby Wallet has narrowed down the hack to 3 individuals with the help of community and security agencies - the estimated loss is $200,000
🖼 NFT/Gaming/Metaverse News:
- Magic Eden users will now be able to opt for optional royalty payments. Decision on how much royalties to pay will be passed to the buyer who will have three ways to set their preferred royalty percentages
- Everyrealm, a metaverse content developer with backers like Will Smith, Paris Hilton and venture capital firm a16z, is launching a home design and virtual real estate game aimed at mature gamers
- Magic Eden launch of Boots - allows collectors to further customize their NFTs by trading traits and enables creators to sell traits as another creator monetization tool
- X2Y2 "Trackable Royalty" - NFT Marketplace contract to record user's royalty choice; Cross-market API to check how much royalty was paid in the LAST buy
- Cofounder of CryptoKitties and Dapper Labs Mack Flavelle has signed with top Hollywood talent agency, WME - one of the most powerful talent agencies in the entertainment industry
- NFT platform LiveArt burned 197 Seven Treasures NFTs stolen from its wallet and pledged to refund buyers who purchased the stolen NFTs
- West Coast rapper, Snoop Dogg, dropped a music video for “Crip Ya Enthusiasm,” featuring a digital performance captured by Web3 startup Astro Project which makes music video assets available to fans
- Introducing the Azuki Collector’s Profile: a web3-native showcase for the Azuki universe
👶 Early Stage Projects:
- Re-launch of Aptos Name Service, the official name service of Aptos Labs
- Sentiment launching on Friday, October 21st, 2022 on Arbitrum
- Buffer Finance trading (Mainnet Beta) live on Arbitrum
💰 Fundraises:
- Investment app, Stash, closed a debt round for $52.6M and plans to expand crypto access for its customers
- Delysium, an AI-powered open world with diverse Free-to-Own universes, announced its $10M strategic funding round led by LA-based VC Anthos Capital
- Tapio Protocol raised $4M in a seed round led by Polychain, Hypersphere and Arrington, in an effort to bring a unified liquidity standard to Polkadot
- Yoloyolo, a new platform that connects NFT owners with brands to sell partnered merchandise, has raised $3.5M in a seed round backed that by ParaFi Capital, Mirana Ventures and Morningstar Ventures
- t2.world raised $3.4M ro empower readers and writers in the decentralized future
- Gritti, the web3 social fitness app building healthier habits through engaged communities and applied game design, raised $1.7M
- Blockchain.com raised an undisclosed amount of additional capital in a round led by UK-based investment firm Kingsway Capital
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: Top inflow for the day is weak sauce but into YGG, BAL and CRV. We’ve also got some light outflow from WBTC. Weekly continues showing a flow into stables DAI and USDT followed by WETH and SYN. Weekly outflow mostly from WBTC and MATIC. NFT volume is unimpressive but Lumens by Vibes + Logic floor is up almost 1000% in the past 3 days? - interdasting. Also several shitcoins have been popping off recently - signs of a renewed meme season?
- Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to...
- Inflow (1D):
- Outflow (1D):
Weekly:
- Inflow (7D):
- Outflow (7D):
- Nansen NFT Hot Contracts:
What is the Data telling you? See anything that sticks out to you?
🎓 Research/Reads:
- Weekly project update: zkEVM's Layer3, AAVE's stablecoins, Magic Eden's optional royalties, etc - source
- The Case For and Against the Appchain Thesis - Cross-chain or Multi-chain? - source
- a16z - Wallet Security: The ‘Non-Custodial’ Fallacy - source
- The Way of Cosmos - source
- On the supposed “nihilism” of the Mango Markets arbitrageur - source
- Q3 2022 Global Crypto Ranking: Germany tops, USA drops in the latest report - source
- Synthetix Quarterly Report — Q3 2022 - source
- Delphi - Nouns — Hyperscaling a Brand & Treasury From Zero - source
- European VCs are finally launching crypto funds — what took them so long? - source
- Where's The Beef? - Non-Speculative Web3 Use Cases - source
- Unpacking Web3 Social - source
- What are CC0 NFTs, and why are they important? - source
- Nodes are going to dethrone tech giants — from Apple to Google - source
- KYC to stake your ETH? It's probably coming to the US - source
- Apple and the Metaverse: Everything We Know So Far - source
Have you seen our institutional-quality research?
🌍 Crypto Twitterverse:
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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