🐱💻Axie's Ronin $600M Exploit - TWJ #115
As Vitalik said, the future is multi-chain, not cross-chain.
In today’s issue:
The crypto market is flat with the total market cap sitting at $2.1-2.2 trillion. STEPN (GMT) rallied and became one of the top performers in the past 7-d. Global markets mixed as 2 and 10-year Treasury yields turned briefly negative.
In other news, Axie’s Ronin sidechain was hacked for $600M, Terra adds $135M in BTC purchases, and MetaMask rolls out Apple Pay integration.
We’re continually improving our content, please reach out if you have ideas or would like us to recap another segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Axie’s Ronin Sidechain Was Hacked for $600M
Ronin, the Ethereum sidechain that is tied to Axie Infinity has suffered an exploit of more than $600M, or roughly equivalent to 173,600 worth of ETH and 25.5 million worth of USDC. During the incident, 5 out of 9 validators on the Ronin network were compromised and controlled, enabling the hackers to siphon more than $600M. Maybe Vitalik was right, after all; the future is “multi-chain” not “cross-chain”.
⎆Terra Adds $135 Million in BTC Purchases
Terra blockchain’s co-founder and CEO Do Kwon have confirmed that the firm has bought more than $1 billion in BTC since the end of January. The Singaporean entity named Luna Foundation Guard has bought a total of 27,784 BTC.
Critics called it ponzinomics, others called it a genius move.
⎆MetaMask Rolls Out Apple Pay Integration
Possibly the world’s most-used crypto wallet by the number of users, MetaMask has once again expanded its footprint by aiming for the retail masses via Apple Pay integration. As of March 29, 2022, Apple Pay users can now directly buy crypto assets via a debit or credit card through MetaMask mobile app. It is reportedly using two payment gateways, Wyre and Transak.
👨🏻💻Decentralized Finance (DeFi)
MakerDAO May Hook Up With Traditional Bank
Axie Infinity's Ronin Bridge Hacked for Over $600M
Binance Launches Binance Bridge 2.0
Gnosis (GNO) Price Rallies 50%+ after CowSwap Airdrop
MetaMask Rolls Out Apple Pay Integration
Chainlink Labs Hires Diem CTO Dahlia Malkhi
🏛Governance - Active Proposals
Babylon Finance - BIP-15: Referral Program
Dope Wars - DIP-39 Community Team
Elyfi - NAP29 : Request for verification of ABToken
🦮NFT & Metaverse
OpenSea Will List Solana NFTs in April
Visa Program to Help Creatives Build Their Businesses With NFTs
Batman NFTs Coming to Ethereum
Sorare Signs Major League Soccer Amid US Expansion
Jeff Koons’ First NFT Project Is a Riff on Crypto’s ‘Moon’ Meme
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
CowSwap - $23M Unknown Round
FUEL - $1.7M Pre-Seed
DFlow - $2M Seed Round
ZkLend - $5M Seed Round
Ampverse - $12M Series A
HBAR Foundation - $155M Crypto Economy Fund
⚖️Regulatory Update
State Regulators Crack Down on Voyager Digital's Crypto Interest Offering
Canadian Web3 Council Formation Includes Dapper Labs, Ether Capital
FTX Europe in Talks With British Regulators to Expand Into the UK
Dubai Attracts Crypto.com, Bybit as Friendly Rules Bear Fruit
Vietnam Developing Legal Framework For Crypto
📚Noteworthy Reads
Pratham Prasoon’s Thread on Anatomy of Blockchain
IC3’s Read on Copyright Vulnerabilities in NFTs
Jimmy Pond’s Thread on Stargate
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.