Weekly Crypto News Recap - August 4, 2023

August 4, 2023


Over $70M Stolen From Multiple DeFi Protocols Due To Vyper Code Bug

The Defiant

Curve liquidation risk poses systemic threat to DeFi even as founder scurries to repay loans

Curve founder Michael Egorov had taken out roughly $100m of loans backed by 475m CRV from various onchain lending protocols. With the CRV token falling after Curve's reentrancy attack, market participants are closely watching Egorov's loans, given the potential for them to be liquidated and further pressure CRV's price, especially as his CRV collateral was 47% of the circulating CRV supply. Egorov has been shoring up loan health via several measures including OTC sales to reduce this risk.

Litecoin Completes Third-Ever Block Reward Halving

The Defiant
Litecoin, the second oldest blockchain network, completed its third block reward halving on Wednesday. The Litecoin network will now issue 6.25 LTC as rewards for miners with each block, down from 12.5 LTC.

Judge Rejects Ripple Ruling Precedent in Denying Terraform Labs’ Motion to Dismiss SEC Lawsuit

Crypto News – CoinSpectator
A federal judge rejected Terraform Labs’ motion to dismiss a lawsuit filed by the US Securities and Exchange Commission. While doing so, the judge rejected the use of the Ripple ruling in the Terraform Labs lawsuit, stating ““the Court declines to draw a distinction between these coins based on their manner of sale” and that “Howey makes no such distinction between purchasers,” referring to the Howey test.

DOJ Weighs Fraud Charges against Binance, Worried about Bank Run: Report

CryptoCurrency – Finance Magnates
The US Department of Justice is reportedly considering initiating criminal charges against Binance but may use alternative measures to avoid potentially inciting a run on the exchange.

Activity on Coinbase’s Layer 2 network surges amid memecoin frenzy

The Block
Despite not yet launching to the public, Coinbase's layer 2 network Base has seen a flurry of activity, mainly around memecoins, and is averaging hundreds of thousands of transactions per day. Its most popular memecoin BALD, however, turned out to be a rug pull, and is believed to be affiliated with FTX and Alameda.


A New Bitcoin-Based Arcade Game Is Leaving a Mark on Gamers
The Ordinals Team is Creating a Non-Profit to Support Bitcoin NFT Developers
Bitcoin Ordinals break daily inscriptions record, but trading nosedives


Ether Options Market Shows Bias for Price Weakness Over Next 6 Months
Crypto user reclaims $74 million of ether from old Ethereum Name Service contract
Proposed Ethereum Upgrade Could Allow Layer 2 Developers To Share Fee Revenue
Another Ethereum ICO participant moves coins for first time in 8 years
Ethereum MEV rewards hit $11 million in a single day due to Curve exploit


Worldcoin Bug Allowed Anyone to Become Orb Operator: CertiK
Michael Egorov has sold a total of 106 million CRV for $42 million
Trader Joe Debuts on Ethereum, JOE Jumps 3%
Binance Adds SHIB to Collateral Assets List, Eyes Potential Bone ShibaSwap Listing
Arbitrum's Most Popular DEX Goes Live With New Version Offering DOGE Pools at 40%
Curve Founder Raises $42.4M to Pay Off $80M On-Chain Debt
The Sandbox implements KYC measures for protocol staking
World Mobile launches Ethereum and BNB Chain bridges, strengthening multichain strategy
Polygon Zero accuses Matter Labs’ developers of plagiarism
LinksDAO, the Online Community That Bought a Golf Course, Is Accepting New Members
Kenya Says Registration of Sam Altman’s Worldcoin in April Not Endorsement
Brave's New Image and Video Search Doesn't Rely on Google or Bing
Push Protocol updates app with new social features, including live “Spaces” feature
Shiba Inu Takes Step to Become DeFi Contender, Will Add Digital IDs to Ecosystem Projects
WorldCoin to Open its ID System for Government and Private Companies: Report
Mysten Labs’ Sui enables liquid staking with network upgrade
Curve emergency DAO terminates rewards for hack-related pools
Aave Should Block Curve Token Borrowing, Risk Management Firm Proposes
Abracadabra proposes hiking loan interest rate by 200% to manage Curve risk
Kenya Halts Worldcoin Cryptocurrency Project Amid Security Concerns
PancakeSwap Launches on Polygon zkEVM for DEX Functionality
Curve Founder Deploys New Liquidity Pool to Address FRAX Debt Situation
SushiSwap furthers cross-chain functionality with Core integration
Blockchain Sleuths Link BALD Liquidity Rug Pull to Sam Bankman-Fried
PancakeSwap to share trading-fee revenue with CAKE token stakers
Celo Proposal to Migrate to Ethereum Layer 2 Passes
DYdX Proposal to Slash Token Issuance Wins Early Support
BALD Meme Coin on Coinbase Layer-2 Goes to Zero as Dev Pulls Liquidity
SEC sues HEX founder Richard Heart for alleged fraud and unregistered securities sales
UFO Hearing Sparks Crypto Degen Frenzy: More Than 50 Alien Shitcoins Emerge
SHIB Devs Begin Testing Shibarium to Ethereum Bridge
Arbitrum DAO’s First Grants Programs Take Shape
Telegram Trading Bot Token Rips by More Than 124% This Week As Project Unveils Early Access to New Terminal
Clearpool expands DeFi lending marketplace to Polygon zkEVM
Charles Hoskinson Announces Goal to Onboard 5,000,000 People to Cardano’s Lace Wallet


Traders Ditch USDT on Curve, Uniswap, Pushing Key Exchange Pools Into Imbalance
Binance CEO CZ Explores Diversifying Stablecoin Strategy, Eyes Smaller Algorithmic Tokens
US defense bill may be problematic for USDC and stablecoins: Analysts
Tether Swiftly Blacklists Phishing Address After $20M Theft
Wagner Rebellion Triggered Surge in Ruble-Tether Crypto Trading Amid Currency Turmoil
Tether reports $850 million net profit for second quarter in latest attestation report


Matter Labs CEO dismisses Polygon Zero claims of zkSync plagiarism
Crypto Custody Firm BitGo Hires Ex-Genesis Exec Matthew Ballensweig to Lead Go Network
Unibot maintains first-mover status among Telegram crypto trading bots
DeFi Lenders Spooked By Curve Exploit
‘Computer language that anyone can read’ launches Aeternity compiler
New York Times objects to gag order on Sam Bankman-Fried leading up to trial
BlockFi conditionally approved $1B recovery plan sets stage for repayment, larger recoveries
DeFi Liquid Staking Derivatives Dominance Predicted by HashKey Report
Argent Takes Key Step Towards 'Invisible Wallet' With Newest Web Wallet Launch
ICP-based blockchain chat app launches ‘Communities’ to compete with Discord
Consensys sued over MetaMask intellectual property: CoinDesk
Protocol to identify ‘systemically important’ blockchain banks could help prevent a market crash: Study
Space and Time launches Proof-of-SQL for blockchain and AI data verification
Voyager may have suffered hack, data leak during reopened withdrawal period
East Meets West: Hong Kong's Hex Trust Secures French Crypto License
FTX’s creditors say they weren’t looped in on plan to recoup funds
Terraform Labs May Be Holding Over $159,000,000 in Crypto Despite Claims of Almost Losing Everything: Arkham Intelligence
3AC co-founder says US court can no longer tell him what to do
ConsenSys releases ‘fuzzing’ tool to test smart contract vulnerabilities
Term Labs Launches Fixed-Rate Lending Protocol on Ethereum
Ribbon Finance Settles First On-Chain Ether 'Autocallable' With Marex and MEV Capital
Digital Currency Group Appoints Mark Shifke as Chief Financial Officer
DCG says it’s close to reaching agreement on Genesis Chapter 11, appoints new CFO
Terraform allowed to subpoena FTX over Terra/Luna short sellers
Alameda Research wants GBTC shareholders to join lawsuit against Grayscale
Wintermute relocating 4% of staff to Singapore: Bloomberg
CME bitcoin futures monthly volumes hit yearly high
Arkham Bounty Unearths $160M In Alleged Terra Wallets


Starbucks' New NFT Collection Holds Up Amid Depressed Market
More Money For Creators: NFT Minting Platform Zora Initiates New Revenue Split
Gala Games Titles Arrive on Elixir Games Launcher
NFT gas usage shows downward trend, signals shift in landscape
Beeple Goes Punk With $208K NFT Purchase
Gaming Giant Bandai Namco Launches AI Virtual Pet NFT Game
Amazon Prime Is Giving Out Free NFTs for This Polygon Game
Art, history and Bruce Lee in the metaverse, food brands use NFTs: Nifty Newsletter
Yuga Labs’ latest game outperforming Dookey Dash, says gaming chief
Despite Name Brand NFT Deals, Nifty's Shuts Down
Kraken gives fans chance to put NFT on an F1 racecar at Austin Grand Prix
Toyota GR Cup will award digital trophies on Polygon blockchain to race winners
'Moneyball' Meets Crypto in 'The Boys of Summer' Experimental NFT Game
ApeCoin Price Sinks to All-Time Low as Bored Ape NFTs Dip Again
Yuga Labs to Acquire Roar Studios for AI Expertise
NFT Now Cuts Jobs in Restructuring Move
Cloaked in mystery, Kevin Rose’s Proof releases latest season of Grails NFTs
Meta Aims to Recharge Lagging Horizon Worlds Metaverse With New In-House Game Studio
Gucci Material NFT Holders to Redeem for Wallets and Branded Duffle Bags
Fantasy-Sports Firm Sorare Looks to Increase Appeal by Diluting Crypto Association


Bitcoin miners need BTC price over $98K by the halving — Analysis
Genesis Digital Assets Expands Bitcoin Mining Activity in ‘Pro-Innovation’ South Carolina
Crypto Mining Hardware Retailer Phoenix Technology Considers Public Listing in UAE
Jihan Wu’s Bitdeer launches fund to mine bitcoin in Bhutan: report
Valkyrie Bitcoin miners ETF leads 2023’s high-performing ETFs
Illegal Cryptocurrency Mining Operation Shut Down in Malaysia


Hong Kong's New Crypto License Could Cost Exchanges a Pretty Penny
Sam Bankman-Fried Needs Jail Time After Tampering With Witnesses and Impeding Investigations: DOJ
Coinbase to widen mainnet access to Base on August 9, releases Ethereum bridge
Binance user base surges to 150 million, CZ says — despite US regulatory lawsuits
Binance promotes Kristen Hecht to Deputy Chief Compliance Officer
Bankrupt FTX seeks court approval to liquidate solvent Dubai subsidiary
Coinbase Beats Analyst Estimates for Q2, but Transaction Revenue Falls
Coinbase to file order seeking dismissal of SEC lawsuit
Alameda-Linked Coins Pumped by Twitter Bots After FTX Listing, Report Shows
Binance Introduces Zero-Fee Trading for BTC/FDUSD and ETH/FDUSD Pairs
Hong Kong’s OSL receives license for Bitcoin and Ethereum retail trading
Justin Sun says Huobi incurred losses in the last four quarters, expects break-even in Q3
Ukrainian government reports $81M tax loss from unregulated crypto exchanges since 2013
KuCoin suspends Bitcoin, Litecoin mining amid shifting strategy and layoff rumors
FTX creditors unimpressed with exchange’s bankruptcy exit plan
Binance’s Zhao Pushed to Shutter US Exchange Ahead of Lawsuits
OKX adds new account abstraction feature to its web3 wallet
Mixed signals: Binance denies reports of $90B in crypto trades in China
Coinbase to Add Bitcoin's Lightning Network for Payments in Response to Jack Dorsey’s Tweet
Coinbase International clocks in $1.96 billion in trading volumes in July
Binance Japan Starts Onboarding Users
FTX releases restructuring plan, hints at rebooted offshore exchange
LeetSwap, Base’s leading DEX, halts trading amid reports of an exploit
Coinbase’s New Base Blockchain Gobbled Up $68M in Ether, and It’s Not Even Officially Live Yet
Crypto.com Obtains License to Offer Services in the Netherlands
South Korea's Financial Intelligence Unit Presses Crypto Platforms to Improve Compliance Measures
Coinbase CEO Reveals SEC's Request to Suspend Trading in Non-Bitcoin Cryptocurrencies
Nigerian SEC Clarifies Warning against Binance, Labels It 'Illegal'
Kraken Fixes Ethereum Funding Gateway Issues
Binance secures first operational license in Dubai amid regulatory hurdles in Europe.


Binance Labs, Sequoia China and others invest $2.5 million in zkPass
Terminal Three Raises Pre-Seed Funding for Decentralized User Data Infrastructure
AI Crypto Signals Platform yPredict Secures $3.2 Million in Funding – How Does it Work?
AI Startup Inworld Raises $50M to Create Better Video Game Characters
Trading Alpha for Newcomers Platform Launchpad XYZ Raises $1.2 Million in Funding – How Does it Work
Nomura Backs $6M Round for On-Chain Fund Platform Solv Protocol
Decentralized Freelancing Platform DeeLance Raises $1.7 Million in Funding – 24 Hour Countdown Begins


Ether ETF applications flood the SEC as ProShares files the 11th
ProShares and Bitwise file for more bitcoin and ether ETFs in deluge of applications
Futureverse co-founders launch $50M venture fund
Bitcoin ETF Approval Odds Just Got Better: Bloomberg Analysts
AI boom to beat electricity and PCs, $200B investment by 2025: Goldman Sachs
Ether ETFs pending — Grayscale, VanEck and others file SEC applications
Crypto investor Coatue is 34% below target with latest fund: The Information
Sequoia Capital scales back crypto fund by $350M amid industry challenges – reports


Revolut Pulls the Plug on Crypto in US, Citing Regulatory Environment
Top State Street crypto exec Swen Werner exits, heads ‘off the grid’
Agence France-Presse sues Elon Musk and X/Twitter over compensation for news
Elon Musk’s X Seeks Data Partner to Build Trading Service on App: Semafor
Figure Abandons Quest to be U.S. Chartered Crypto Bank After Three-Year Fight
MicroStrategy to stay on Bitcoin course even if spot ETFs approved: Saylor
Robinhood Sees Crypto Trading Revenue Plummet 18% in Latest Earnings
Tel Aviv Stock Exchange to offer crypto services via Fireblocks pact
Crossover and Cboe Digital collaborate on crypto clearing solution
Google Cloud Is Running a Validator on Celo Network
Saylor’s MicroStrategy plans $750M stock sale, possibly buying more Bitcoin
Meta’s AI chatbots could go live by September
GameStop will stop support for its crypto wallets, citing ‘regulatory uncertainty’
Fitch Downgrades US Government’s Debt Rating – Does This Boost Crypto’s Use-case?
Etihad Airways 'Horizon Club' Web3 Loyalty Program Will Let You Stake NFTs for Miles
Nomura’s Crypto Subsidiary Secures Full Operating License in Dubai
Cumberland, XBTO Group execute first block trade of ETH/BTC contract on CME Group
Lawmakers probe Apple’s App Store policies on blockchain, NFTs
X’s ad revenue sharing: Crypto payments on the horizon?
Reddit Returns With New NFTs and Crypto Twitter Leaves Threads on Read
US Banking Giant Accused of Abruptly Closing Accounts, Violating Customers’ Rights As Financial Oversight Investigation Begins: Report
Blockchain could save financial institutions $10B by 2030: Ripple
Deloitte Partners with Chainalysis to Enhance Digital Asset Tracking and Investigations
HSBC-Owned Hang Seng Bank Limits Crypto Companies to ‘Simple’ Accounts: Report
Australian Lender Bendigo Bank Blocks “High-Risk” Crypto Payments


Russia to Charge Commissions on Digital Ruble Transactions from 2025
Digital Dollar Project completes CBDC retail remittance pilot with Western Union
MIT Digital Currency Initiative introduces at-scale, programmable CBDC platform
South Korea to pilot CBDC in one of these three cities, not Seoul


US SEC Chair Gary Gensler Sidelines Cryptos and Says AI “Warrants The Hype”
Oman financial regulator seeks feedback on proposed virtual asset framework
Canadian Digital Asset Ownership Plummets Amid Global Regulatory Uncertainty: Bank Of Canada
SEC Says Crypto Mining Firm Fraudulently Raised $50M in Cash, Bitcoin and Ethereum
SEC chair Gary Gensler pivots agency’s attention to AI: “We can get to crypto later”
Namibia Sets the Stage for National Crypto Strategy With New Law
Australian financial regulator sues eToro over ‘volatile’ trading products
India makes suggestions for G20 crypto roadmap
Ukraine Mandates Digital Asset Firms To Disclose Financials As Wider Regulation Looms
IRS: Crypto Staking Rewards Taxable Once Investor Gets Hands on Tokens
Chinese city implements plan for blockchain digital infrastructure system by 2025
German government watchdog launched Worldcoin probe in November 2022: Report
First major success in US Congress for two crypto bills: Law Decoded
DeSantis Accuses Biden of 'War on Bitcoin,' Vows to Stop It if Elected President
US Senate Passes National Defense Bill: Here’s How It Affects Crypto
Indian Supreme Court pushing Union government for clear crypto regulation: report
Court reverses SEC ruling on SPIKES futures, calls it “arbitrary and capricious”
Wall Street banks back Elizabeth Warren’s Digital Asset Anti-Money Laundering Act
SEC Chair Gary Gensler Blasts Crypto Exchanges, Avoids Issue of Appeal in Landmark Ripple Ruling


Ukraine Charity Soccer Match Hits the Metaverse Pitch to Raise Funds
Eco-Friendly Crypto Chimpzee Announces Airdrop After Raising $1 Million in Presale – 30 Hours Left Until Price Rise
KPMG touts ESG benefits from Bitcoin, counters misperceptions in new report
Exclusive: Non-profit Glo launches stablecoin leveraging yields to alleviate extreme poverty
Crypto Sponsorships and Social Impact: How Brands are Making a Difference
Longtime Environmentalist RFK Jr. Not So Sure Bitcoin Is Boiling the Oceans
Researchers develop blockchain verification service for cultural artifacts
Human Rights Foundation Backs Bitcoin Bug Bounty to Empower Activists Worldwide


‘Is this a Bitcoin ad?’ Joe Biden unknowingly touts BTC in coffee mug video
Breaking: New York Man Admits to $4.5B Bitfinex Hack
Developer ‘accidentally’ locks up $9,000 of ether for 100 years. Critics say it was deliberate
Crypto Hacks and Exploits Peak Year-to-Date in July: Report
Rep. George Santos Tried to Broker Cryptocurrency Deal with Donor During Congressional Campaign
Crypto community reacts to Barbie star saying Bitcoin talk exudes Ken energy

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