Wormhole Exploiter In Their DeFi Degen Arc
FBI says North Koreans Hacked Harmony, Twitch Co-Founder NFT platform moves to Polygon
Theo Delarosa
January 24, 2023
Daily Bullets - Tuesday, January 24th
Market remains stable for now with Bitcoin outperforming ETH recently. NFT volumes are surging for Yuga Labs related projects such as MAYC, BAKC, Otherdeed, Sewer Passes. Current narratives such as LSD, Gaming, AI and L1 coins continue performing well. Next macro date to be aware of is FOMC on February 1st.
Daily Bullet Highlights
- Wormhole exploiter converts $150M in ETH to stETH via the DEX aggregator OpenOcean to take leveraged DeFi positions
- The FBI confirmed Lazarus Group and APT38 are responsible for the $100M Harmony bridge hack last June
- Fractal, the platform for game-related NFTs developed by Twitch co-founder Justin Kan, is expanding to Polygon to boost accessibility
- MakerDAO’s community approved a proposal to deploy up to $100M in USDC from its reserve to Yearn Finance, for a 2% annual yield
- SYS will be the native coin of Syscoin's upcoming optimistic L2
- Binance processed almost $346M in Bitcoin for the Bitzlato exchange
- Binance mistakenly kept collateral for some of the assets it issues in the same wallet as funds belonging to customers
- Porsche released the NFT series PORSCHΞ 911 to underwhelming reception and sales
- Coinbase’s chief product officer will leave with a $105M from stock sales
Crypto News
- Crypto lender BlockFi is looking to sell $160M in bitcoin mining machine-backed loans amid its bankruptcy process
- IRS, SEC added to list of creditors in Genesis bankruptcy filing
- Wilshire, a private investment management firm, tapped crypto trading firm FalconX to provide digital asset indexes for its institutional clients.
- Digital Distro, a media consulting firm, which used to consult clients how to incorporate crypto into their entertainment experiences, will remove all blockchain-based services
- New deal between Fountain and Bitcoin firm ZEBEDEE will let podcasters reward their audience with Bitcoin
Crypto Exchanges
Project Updates
- Jones DAO launch day update - Friday, January 27th
- Sui Foundation Round 1 recipients of the Developer Grant Program - awarded $415,000 to 12 teams
- Metis reveals KORIS, the first operating system for Decentralized Autonomous Companies (DAC)
- STFX public sale tokens have been distributed
- MYSO Finance expanding to Arbitrum
- MRGNLEND public testing is now live
NFTs/Gaming/Metaverse
- Yuga Labs NFT projects surge in volume over the past week. (includes BAYC, MAYC, BAKC, BACC, Otherdeed, Sewer Passes)
Economic/Government/Regulatory
- El Salvador’s $800M bond issue set to mature Jan. 24, 2023 has been repaid with interest
- Cité Gestion, an independent Swiss private bank, is using Taurus technology to tokenize its own shares
- The European Parliament's Economic and Monetary Affairs Committee voted to impose strict restrictions on banks seeking to hold crypto
Research/Reads
- The Year Ahead :: Pantera Blockchain Letter, January 2023 - source
- Glassnode - An Opportunity, or a Trap? - source
- The History of Cypto Manipulation: The "Love and Hate" between market Makers, project teams and Exchanges - source
- Account Abstraction for Everyone Else - The Complete Guide to Understanding AA in 2023 - source
- The FEX Model: Building the Next Generation of Exchanges - source
Fundraises
- Blockchain development platform QuickNode announced raised a $60M Series B round at an $800M valuation led by 10T and participated by Tiger Global and others
- London-based Asset Reality raised $4.91M in seed money to build a full service solution for crypto asset recovery led by Framework Ventures, TechStars, SGH Capital and Outrun Ventures' Chris Adelsbach
Different types of narratives and how you could play them:
Short thread on the different types of narratives and how I like to play them
🧵
— Kyle (@0xkyle__)
Jan 23, 2023
6 on-chain metrics calling for a generational long-term buying opportunity:
Bitcoin: 6 on-chain metrics calling for a generational long-term buying opportunity
A thread 🧵
— Game of Trades (@GameofTrades_)
Jan 23, 2023