Why Are Top Execs Leaving Binance? 😰
In today's edition: 🎙️ New pod on circuit breakers, 🚓 Jesse Powell's home searched, $126 million hack 🤔 or rugpull?, and more!
What’s Poppin’?
by Samyuktha Sriram
Senior Binance Execs Quit Over CZ’s Response to DOJ Probe: Report
Binance’s General Counsel, Chief Strategy Officer and Senior Vice President for Compliance have all resigned.
FBI Searched Kraken Cofounder Jesse Powell’s Home: Report
The search was conducted as part of a non-crypto-related investigation into claims that Powell hacked and cyber-stalked a non-profit arts group.
Hack or Rugpull? Multichain Sees $126 Million ‘Abnormal’ Outflows
The team behind the cross chain protocol confirmed that assets on the MPC bridge had been moved to an unknown address but said they were “not sure what happened.”
Lightning Labs Releases Tools for Bitcoin-Powered AI Products
AI agents will be able to directly hold and manage Bitcoin through OpenAI function calls, said the CTO of Lightning Labs.
On the Pod…
In 2022, crypto crime hit an all-time high. A staggering $3.8 billion in crypto was stolen, with DeFi protocols bearing the brunt of these thefts, accounting for 82% of the total losses.
Amid this alarming scenario, has a beacon of hope emerged in ERC-7265?
The proposal aims to create a ‘circuit breaker’ safety layer for DeFi contracts, potentially revolutionizing security measures in the crypto space. Could this be the key to bolstering security and paving the way for mass adoption of DeFi? Will it essentially centralize protocols?
Daily Bits…✍️✍️✍️
🕵️♂️ Bitfinex successfully retrieved $312,000 in cash and Bitcoin Cash worth around $2,000, from the 2016 hack whose funds were allegedly laundered by Ilya Lichtenstein and Heather Morgan (Razzlekhan), with plans to distribute the funds to the affected users.
🎵 Despite earlier reports to the contrary, music superstar Taylor Swift agreed to a sponsorship deal worth up to $100 million with the now insolvent crypto exchange FTX, according to the New York Times.
⏳ The Uniswap Foundation anticipates the launch of Uniswap's version 4 (v4) protocol will take place after the successful implementation of Ethereum's Cancun upgrade and a subsequent comprehensive security audit. Learn more about Uniswap v4 here.
🎮 Sega is halting its blockchain gaming initiatives, with co-Chief Operating Officer, Shuji Utsumi, expressing doubts about the technology's value in the sector and criticizing play-to-earn games as "boring."
💡 Balancer's "8020 Initiative," aimed at boosting liquidity in DeFi by shifting from a single-asset staking model to a two-token one, gained the support of several DeFi firms, including Radiant Capital, Alchemix, Paraswap, Y2K Finance, and Oath Finance.
💼 Global financial institutions including Citigroup, HSBC, and BNY Mellon have been exploring a "regulated liability network" for 24/7 wholesale payments using shared ledgers, with the New York Innovation Center concluding that the system has potential benefits.
Today in Crypto Adoption...
🚀 Circle, the USDC stablecoin issuer, introduced a wallet-as-a-service platform that enables developers to incorporate user-friendly web3 wallets into their applications.
The $$$ Corner…
💳 GTCR, a private equity firm, is purchasing a 55% stake in payment processing company Worldpay from Fidelity National Information Services at a valuation of $18.5 billion, while Fidelity will retain the remaining 45% share.
Bringing institutional-grade financial products on-chain, starting with the tokenization of US Treasuries and money market funds.
What Do You Meme?
Learn 🤓
Rare Pepe NFTs: A Brief Introduction
Rare Pepe NFTs were the original crypto collectibles when they launched on Counterparty in 2016 before the term NFTs even existed.
📈 Your Market Update 📉
BTC is down 2.5%, trading at $30,184
ETH is down 3.9%, trading at $1,864
BTC dominance: 48.19%
Crypto market cap: $1.22 trillion
*All data as of today, 7:40 am ET
Recommended Reads
DL News: BlackRock’s aim to make crypto cheaper should scare Coinbase
Bloomberg: Wall Street Spots Blockchain Opportunities as Crypto Stumbles
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Bonjour conbien de temps mon argent 💸 arrivera sur mon compte please