⬇️ BTC Down: Are Miners to Blame?

In today’s edition: 🏆 👀 Crypto: The Game's potential Emmy nomination, ⚡️ UwU Lend hacker strikes again, 📉 CRV tanks, 🤔 Web3 data ownership: Are we ready for it?, and more!

June 14, 2024

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What’s Poppin’?

by Sage Young and Sam Sriram

Data shows that Bitcoin miners have ramped up selling, evidenced by the higher activity on OTC desks and transfers from mining pools to exchanges.

In the same week that Uniswap Labs acquired the onchain and online social game in its entirety, Crypto: The Game is also on the ballot for an Emmy nomination for Outstanding Emerging Media Program.

The same hacker that exploited $20 million from UwU Lend earlier this week stole another $3.7 million using the funds stolen in the first exploit to carry out the second attack.

The founder of Curve, the decentralized exchange primarily for stablecoins, was liquidated as a result of CRV dropping over 20% in the past 24 hours.

by Khori Whittaker, Executive Director at ENS Labs

Users know in the abstract that Web2 exploits them and their data, but Web3’s onboarding experience will have to be improved before they embrace the ability to not just read and write but also own on the internet.

Daily Bits… ✍️✍️✍️

  • 📈 SEC Chair Gary Gensler anticipated Ethereum ETFs would be approved and launched on exchanges this summer, after necessary document filings are completed.

  • 📊 MicroStrategy proposed a $500 million convertible notes sale to acquire more Bitcoin, the firm currently holds 214,400 BTC.

  • 🏛️ CFTC Commissioners Christy Goldsmith Romero and Kristin Johnson are expected to be nominated for key roles at the FDIC and Treasury.

  • 💰 Early buyers of Andrew Tate’s DADDY meme coin hold $45 million in unrealized value, with some wallets buying significant amounts before its promotion.

  • 🛑 Tornado Cash developer Alexey Pertsev is fighting for release from detention to prepare for his appeal against a money laundering conviction.

  • ⚖️ A US judge has now approved the $4.5 billion settlement between the SEC, Terraform Labs, and Do Kwon.

  • 💸 Ripple argued for lower fines than the SEC’s proposed $2 billion, citing the recent $4.47 billion Terraform settlement as a benchmark.

The $$$ Corner…

  • 💸 VC firm Paradigm raised $850 million for its third fund aimed at investing in crypto projects.

  • 🚀 NEAR Foundation's spinoff, Nuffle Labs, secured $13 million to build NEAR's Data Availability Layer and other tools.

What Do You Meme?

📈 Your Market Update 📉

  • BTC is down 1.5%, trading at $66,845

  • ETH is up 0.2%, trading at $3,510

  • BTC dominance: 51.4%

  • Crypto market cap: $2.57T

*All data as of today, 07:01 am ET. Source: CoinGecko

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