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Balancer Under DNS Attack, USDC goes to Polkadot
SEC Preps Its Regulatory Net, Nomura's Bitcoin Fund Woos Wall Street, and Family Drama Puts the 'FTX' in 'WTF'!
🚀 Hey there, Crypto Crusaders! 🚀
Before we dive into today's crypto rollercoaster, don't forget to catch live updates on all things blockchain and beyond at our Trending News page — it's the crypto oracle you didn't know you needed! 🌐🔮
Now get your DeFi capes on, adjust your blockchain goggles, and let's zoom into the crypto-verse!
🔥 First off, Nomura's Digital Asset Subsidiary is launching a Bitcoin fund for the "suits and ties" (read: institutional investors). Because, you know, even Wall Street wants a piece of that sweet, sweet Bitcoin pie! 🥧💼 The fund aims to provide exposure to Bitcoin while addressing concerns around custody and security.
🍿 Now, grab some popcorn because we've got family drama over at FTX! Sam Bankman-Fried's dad is like, "Why you pay me only $200K, son?". He involved Sam's mother, Barbara Fried, in the matter. So, in true crypto-billionaire fashion, Sam just tosses $10 million at his parents like it's a casual Friday tip. Ah, families. Can't live with 'em, can't decentralize 'em! 🤷♂️💸
😱 Next up, Balancer is under DNS attack! If you're using their UI, stop, drop, and roll away from your computer. Or just click the 'X,' whatever's easier. Users have been reporting that when interacting with the website, they’re being prompted to approve a malicious contract that drains users’ wallets. Seriously, folks, cyber ninjas are out there, and they're not playing nice. 🥷💻 This incident follows a previous warning from Balancer about a vulnerability in the protocol's pools.
🌐 Circle is taking USDC on a tour of the Polkadot ecosystem. Because why keep your stablecoin locked up at home when you can parade it across multiple blockchains. Polkadot-based projects such as Centrifuge, HydraDX, and Moonbeam have integrated USDC as their flagship stablecoin. The stablecoin can be transferred to parachains via the XCM protocol, allowing all interconnected parachains in the Polkadot ecosystem and their users to access the stablecoin.
👮♂️ The SEC is waving its regulatory wand again, warning of impending doom (or at least some legal paperwork) for exchanges and DeFi projects. David Hirsch, head of the SEC's Crypto Assets and Cyber Unit, stated that the agency is investigating other firms involved in similar activities to Coinbase and Binance. Hirsch also mentioned that DeFi projects will not be exempt from scrutiny. Watch your backs, crypto cowboys! 🤠🚨
🇬🇧 Across the pond, the U.K. just passed an Online Safety Bill that also applies to the metaverse. Because even in a virtual world, someone's got to be the hall monitor. 🌐👮♀️ The bill includes requirements for companies to assess the likelihood of encountering illegal content and harmful content for children. Companies must come up with ways to mitigate these risks.
🤔 And last but not least, Binance's CZ is doing the cha-cha with his statements about Ceffu and Binance Custody. To use or not to use, that is the contradiction! 💃🕺Binance Custody, now known as Ceffu, is being investigated by the SEC, which wants assurances that Binance.US assets won't be transferred overseas. CZ stated on social media that Binance.US does not and has never used Ceffu or Binance Custody.
📈 Finally, Bitcoiners are stacking 'em up like crypto-pancakes, with inactive BTC supply reaching new highs. Get those digital spatulas ready; it's hodling season! 🥞🔒 On-chain data shows that a significant amount of BTC has not moved from addresses for more than 1, 3, and 5 years. This trend is reflected in Bitcoin analytics, with an estimated 69% of addresses holding BTC for over a year. Bitcoin outflows from exchanges have been declining since July 2021, with only 2 million BTC remaining on exchanges.
Tweets of the day
An Ethereum L2 powered by Solana VM, Eclipse wants to give us best of both worlds #WhyWalkWhenYouCanTeleport
OpenSea launches creator Studio - imagine a Swiss Army knife of NFT creation, but way cooler and without the risk of cutting yourself. 🏆✂️
Aztec introduces Aztec Sandbox, a local developer testnet where privacy is king!
There you have it, folks! Your daily dose of crypto! Remember, in the world of crypto, the only constant is change—and memes, always memes.
Peace out ✌️,