SEC Threatens OpenSea With Lawsuit, Claims NFTs Are Securities
TON's 6-Hour Outage, Aave's Hack Via Periphery Contract - $56k Stolen
The SEC has given OpenSea a Wells Notice about NFT trading and sales on the platform, effectively threatening the marketplace with a lawsuit.
OpenSea CEO Devin Finzer was shocked about the notice, and shared his thoughts on twitter, saying that they're ready to stand up to this.
Finzer claims NFTs are creative goods where any item can be represented on-chain (tickets, art, game items, domains...), and said that the SEC would put creatives at risk and stifle innovation.
The CEO also announced that OpenSea is pledging $5 million to help cover NFT enthusiasts' legal fees - individuals who also receive Wells Notices.
This follows the SEC's Wells Notice to Uniswap and legal actions against major crypto-based entities like Coinbase, Kraken, ConsenSys.
Market Update
News
Aave Hacked Via Periphery Contract, $56k Stolen
The hack targeted a specific contract known as the ParaSwapRepayAdapter. Importantly, this contract is not part of Aave's core protocol and had not undergone an audit. User funds and the broader Aave protocol were not at risk. | Read More
TON Blockchain Had A 6-Hour Outage
The TON blockchain suffered a six-hour outage due to an abnormal load that caused a consensus loss among validators. Validators could not agree on the state of the blockchain, leading to a halt. The surge in transactions was reportedly triggered by the launch of the DOGS memecoin airdrop. | Read More
Vitalik Buterin Proposes Fairer Crypto Airdrops
Buterin suggests leveraging zero-knowledge (ZK) proofs and blockchain-based identity frameworks to create a more equitable system. Buterin also mentions the possibility of offering discounted tokens to highly involved participants. | Read More
Radiant Capital Integrates Chainlink Price Feeds on Base Mainnet
Radiant Capital, an omnichain money market platform, has recently integrated Chainlink Price Feeds on the Base mainnet. Radiant Capital aims to address the liquidity fragmentation issue by allowing users to deposit and borrow assets across different chains securely, with Chainlink’s feeds. | Read More