Daily Bullets 💊: The Calm Before the Storm

💊 M6 Daily Bullets 💊 Monday, August 22nd

Aug 22, 2022

So what did the crypto markets do over the weekend? Not much. Grinded sideways. Bitcoin is hanging out in the low $21k region and ETH chilling in the $1500s. What will the next disaster be that captures all our attention and causes us to talk about it nonstop for a couple days until we move on to the next?? Stay tuned as we follow along, as always!

Hodlnaut reports $193M financial shortfall as it seeks court protection

South Korea plans to tax crypto airdrop recipients

⁠BendDAO contract drained with 15 ETH left to pay lenders. Many NFTs that were used as collateral in the platform have defaulted without any bids

Former OpenSea employee accused of insider trading files motion to dismiss indictment. Lawyers argue in the motion that NFTs are neither securities nor commodities, and wire fraud cases require trading in securities or commodities

⁠Ronin hackers transferred stolen funds from ETH to BTC and used sanctioned mixers

Stephan Tual, one of the main designers behind the structure of The DAO, has left the Ethereum community after nine years — citing a disconnect between what he wanted to build and what he feels the project has become

Samsung files to launch Bitcoin and crypto exchange in South Korea in 2023

Crypto exchange Huobi’s stablecoin HUSD, it’s back up to its $1 peg today after destabilizing last week

FDIC issues cease-and-desist letters to FTX US, other crypto firms over deposit insurance

⁠FTX revenue reportedly grew 1000% in one year, from $14M to $272M in FY 2020-21

Tribe DAO proposes a $157M redemption for token holders, Rari hack victims

Uniswap has blocked 253 crypto addresses related to stolen funds or sanctions

FTX is warning users not to interact with privacy protocol Aztec, calling it a ‘high risk’ mixer

Sushi Searching for a Sushi Head Chef (CEO)

Cardano founder Charles Hoskinson has continued to refute claims that the Cardano’s testnet is “catastrophically broken,” implying the need to finally move forward with the long-delayed Vasil hard fork

Liquidity crunch on BSC C.R.E.A.M. markets caused by the BNB Boosted Savings program

Olympus V3, aka codename Bophades, is finally going into Code Arena audit this week

12 ETH Mexico finalists

Dogechain is Live on Synapse

Kujira - public TestNet is live for minting USK & bidding on liquidated collateral on ORCA

Umami To Pause USDC Vault, Reimburse Depositors & Prioritize “v2” Vaults

Polkadot Ecosystem Weekly Digest

📊 Data:

Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to...

- Inflow: WBTC ($19M), USDC ($3.4M), AURA ($748k), LYRA ($465k), LDO ($391k)

- Outflow: WETH ($21.5M), wNXM ($2.2M), DAI ($1.1M), AAVE ($712k), PAXG ($390k)

Nansen NFT Hot Contracts:

BAYC: 1208 ETH
MAYC: 662 ETH
Pudgy Penguins: 630 ETH
CryptoPunks: 505 ETH
Isekai Meta: 425 ETH

🎓 Research:

Bybit Crypto Insights - Quarterly report on Solana - source

Crypto Gaming: A Most Practical Thesis - source

OFAC Sanctions & Ethereum PoS – Some Technical Nuances - source

State of Aave Q2 22 - source

Bankless - The AMM Edition (Part II) | DeFi Download - source

EOS Foundation quarterly report - source

The State of DeFi Lending newsletter - source

Smart Contract Automation: State of the Art (hack view) - source

MEV capturing AMM (McAMM) - source

Humble Farmer's CANTO Guide - source

Can Aave's GHO stablecoin help the protocol further grow and overtake MakerDAO and DAI? - source

Hype Cycles - source

🖼 NFTs/Metaverse News:

CryptoPunks takes top floor price spot from Bored Apes. Potentially related to BendDAO
Introducing the Pudgy Penguins Advisory Board

NFT lender BendDAO begins vote to change protocol amid liquidity crisis

The first 100% on-chain university course "Introduction to NFTs and the Metaverse"

Rally is ‘democratizing’ ownership of a rare Noun NFT

🌍 Crypto Twitterverse:

Sam Kazemian (¤, ¤) @samkazemian

I can't stand to not speak up about this @feiprotocol situation. Please read this 🧵 for one of the most egregious "DAO/DeFi" situations I've ever seen. There's CeFi drama stuff, but this is a new low for DeFi.

shadow @sh4dowlegend

Very pissed with the unwind, so writing up a thread on @feiprotocol and all the shit they pulled. 🧵👇

Ignas | DeFi Research @DefiIgnas

1/ $FEI Protocol is shutting down. At $188M market cap, it's one of the largest #DeFi stablecoins. Yet, it's closing down. Why? 🧵

6529 @punk6529

1/ On Solving Problems On-Chain So, conventionally, this is about the time I'd start a podcast. But I prefer bold experiments so I've been chasing partners and people all summer to try something that has never been done before What is that?

NFTStatistics.eth @punk9059

Ok. Long thread on the BendDAO situation: 1) They've run out of ETH. There is just 12.5 WETH in the contract. 2) What does this mean? People who lent money to others via BendDAO to buy NFTs on leverage can't pull their money out. About 15,000 ETH was lent. (1/9)

Nansen Alphα 🧭 @nansen_alpha

.@sassal0x joined our Alpha community for an exclusive AMA about the upcoming Merge and all-things Ethereum! Here’s a breakdown of the key points raised during the session:

The Crypto Sapien @thecryptosapien

A lot of us spend countless hours on @tradingview analyzing price action. But, are you using it to its fullest potential? Here are 17 TradingView hacks and hidden features to make the most out of it. Number 6 is pure gold! Thread 🧵:

Nansen🧭 @nansen_ai

Weekly NFT mints & trading volume is at their lowest since August 2021 📉 Are NFTs dead? ☠️ A thread 🧵

📈 Fundraises:

Global investment management firm Invesco is set to launch a $30M Invesco Metaverse Fund, in a move that will see it invest in a range of companies globally from across the ecosystem

Microtraction hits $15M first close on its second fund for pre-seed investment in African startups

Safeheron Raises $7M

DAM Finance Raises $1.8M

INDEX GAME Raises $1.7M

ReDesyn Raises $500K

Dopex invested in Rage Trade

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