🚨 A $200 Million Exodus
In today's edition: 📢 Balancer's emergency plan, 🔒 first-ever NFT insider conviction, ⚠️ a stark warning from the FBI, 🤝 Binance.US and MoonPay team up, and more!
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What’s Poppin’?
Balancer Users Withdraw $200 Million Amid Critical Vulnerability Threat
by Samyuktha Sriram
The DeFi protocol warned users of a critical vulnerability affecting V2 pools, urging them to withdraw funds from affected pools immediately.
FBI Alert: North Korean Hackers Ready to Cash Out Stolen Bitcoin
by Juan Aranovich
The U.S. Federal agency urges vigilance as North Korean Hackers may cash out over $40 million in bitcoin.
Ex-OpenSea Manager Sentenced for NFT Insider Trading
by Juan Aranovich
Nate Chastain’s three-month prison sentence marks the first-ever conviction for digital asset insider trading.
Binance.US Revives U.S. Dollar On-Ramps With MoonPay
by Samyuktha Sriram
The crypto exchange has partnered with MoonPay to allow users to exchange dollars for USDT, which will be the new “base asset” for transactions.
On the Pod…
The height of the last bull run was when MakerDAO cofounder Rune Christensen felt most disillusioned by DeFi and DAOs. “I didn’t even see how Maker was going to survive,” Christensen tells Laura Shin in the latest episode of Unchained. Now Christensen is leading an effort to help DAOs escape their trough of disillusionment. He says the ambitious “Endgame Plan” for MakerDAO seeks to overcome “the central issue of voter apathy.” Will it work or are DAOs doomed to fail?
Daily Bits…✍️✍️✍️
🏛️ Sam Bankman-Fried pleaded not guilty to fraud and money laundering charges related to the collapse of his crypto empire during a court appearance in New York.
🎨 NFT aggregator Rarible will stop aggregating orders from OpenSea, LooksRare, and X2Y2 by Sept. 30, citing its commitment to artist royalties and opposing the decision by these platforms to make creator royalties optional.
⚠️ The Bank for International Settlements (BIS) issued a warning to emerging economies about potential financial stability risks from crypto, citing concerns over monitoring cryptoasset markets and various financial risks.
🔐 Starkware, the team behind Ethereum's layer 2 blockchain StarkNet, announced they will open-source their cryptographic software tool, Stone (formerly STARK Prover), on Aug. 31, aiming to enhance Ethereum's scalability.
📈 Base, Coinbase's Ethereum layer-2 network, surpassed Ethereum in daily transactions, reaching 1.37 million, largely driven by the hype around social app Friend.tech, though some volume appears to be from bots and spammers.
The $$$ Corner…
🌏 Maple Finance is targeting expansion into the Asia-Pacific region with a $5 million investment led by BlockTower Capital and Tioga Capital, and has also returned to the Solana network with its stablecoin cash management offering.
What Do You Meme?
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How Spot Trading Works in Crypto
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📈 Your Market Update 📉
BTC is down .5%, trading at $25,919
ETH is down 1.2%, trading at $1,642
BTC dominance: 46.37%
Crypto market cap: $1.09 trillion
*All data as of today, 7:55 am ET
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Jesse Myers on why hodling Bitcoin is the north Star for prudent capital allocation
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