Hours of Panic for DeFi 🚨
In today’s edition: 🎙️ New episode with James Seyffart, 💡 Arbitrum offers Celo tech, 📊 JPMorgan's crypto forecast, and more!
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What’s Poppin’?
by James Rubin, Sage Young and Samyuktha Sriram
Ledger Library Compromised, Causing Confusion and Panic in Crypto Community
The hardware wallet maker says the vulnerability has been fixed, but users of several dApps and protocols are still being warned against using them until the situation is clearer.
Arbitrum Bids for Celo to Use Its Tech Stack for Layer 2 Migration
The Arbitrum Foundation has joined a growing list of contenders to provide Celo a tech stack for its planned migration to being an Ethereum Layer 2 network.
JPMorgan Forecasts Ether to Outperform Bitcoin in 2024 Amid Crypto Market Uncertainties
A new research note from the banking giant has a cautious outlook for the crypto industry, and expects Bitcoin to underperform against lofty expectations.
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The long-awaited approval of a spot bitcoin ETF looks to be mere weeks away, and Bloomberg ETF analyst James Seyffart joins Unchained to discuss the final issues and considerations, especially the battle over whether the new funds will feature in-kind vs. cash creation and redemptions, which appears to be one of the last main sticking points in negotiations between the SEC and fund companies. He also discusses the specific impact of an ETF approval on Grayscale, which runs the $26.6 billion Grayscale Bitcoin Trust, and why he thinks the SEC has thrown in the towel on trying to classify Ethereum as a security.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
Daily Bits…✍️✍️✍️
⚖️ In a landmark case related to a smart contract fraud, Shakeeb Ahmed pled guilty to hacking two decentralized crypto exchanges, including Solana's Nirvana Finance, forfeiting over $12 million.
🚨 Four individuals were charged with money laundering in the U.S., accused of laundering over $80 million from crypto investment scams, including 'pig-butchering' schemes.
🏦 The Basel Committee for Banking Supervision proposed stricter criteria for stablecoins, focusing on reserve asset quality and volatility for preferential risk treatment.
🎨 Sotheby's inaugural sale of Bitcoin Ordinals-based 'BitcoinShrooms' NFTs fetched about $450,000, indicating growing mainstream interest in Bitcoin blockchain inscriptions.
🛑 Qredo closed its derivatives exchange Ankex amid financial troubles, with former head Michael Moro departing the company.
📉 SafeMoon filed for Chapter 7 bankruptcy following fraud charges and executive arrests by the U.S. Securities and Exchange Commission.
Today in Crypto Adoption...
🔗 Deutsche Bank-backed custody firm Taurus partnered with Teylor to tokenize German SME loans, aiming for secondary market trading in compliance with Swiss and European regulations.
The $$$ Corner…
🎮 Farcana raised $10 million for its NFT esports shooter game, with investments from Animoca Brands, Polygon Ventures, and Fenbushi Capital among others.
💸 Bitcoin rewards provider Lolli garnered $8 million in Series B funding, led by Bitkraft Ventures, focusing on growth while maintaining independence.
💰 Metagood, creators of OnChainMonkey NFTs, secured a $5 million seed round led by Sora Ventures, for technology and product development in the blockchain and digital assets space.
💡 Cyber.Fund will invest $100 million in projects blending blockchain, AI, and IoT, aiming to nurture the 'cybernetic economy'.
🔍 Venom Ventures Fund, an Abu Dhabi-based $1 billion crypto fund, showed limited activity in its first year, raising questions about its investments.
What Do You Meme?
Recommended Reads
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DL News: Let’s depose the kings of crypto
📈 Your Market Update 📉
BTC is down 1%, trading at $42,692
ETH is down 1.5%, trading at $2,264
BTC dominance: 49.42%
Crypto market cap: $1.69T
*All data as of today, 07:24 am ET
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