🌱Beanstalk $180M Exploit - TWJ #127
Once again, decentralized stablecoin is hard.
In today’s issue:
The crypto market is flat with the total market cap sitting at $1.8-1.9 trillion. MINA is the worst performer in the top 100 in the past 7-d. Global markets slip and crude oil rallies.
In other news, Beanstalk loses $182M in an exploit, Nexo offers crypto payment cards, and Louis Vuitton releases NFTs.
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
⎆Beanstalk Loses $182M in an Exploit
Credit-focused decentralized stablecoin Beanstalk has suffered approximately $180M in an exploit according to findings from security firm PeckShield. The hacker funneled $80M through tornado cash and obtained roughly 24,830 ETH. Once again, decentralized stablecoin has proven to be one of the most difficult challenges in DeFi.
⎆Nexo Offers Crypto Payment Cards
Crypto lender has finally joined the fray of other crypto firms that have launched their own crypto-linked cards. Working with Mastercard, Nexo will launch a crypto-backed card that allows users to spend ~90% of the fiat value of their crypto assets.
"Mastercard recognizes that digital assets are revolutionizing the financial landscape," said Raj Dhamodharan, Mastercard’s head of crypto and blockchain products and partnerships.
⎆Louis Vuitton releases NFTs
The king of luxury brand LVMH has once again launched an NFT for its Louis Vuttion brand that ties into its stand-alone mobile game “Louis: The Game”.
Players who collect a certain number of free NFTs in the game will have a chance to qualify for an NFT raffle, which runs until August 4 (as one of the postcards in the game reveals, that day is Louis Vuitton’s birthday). Players have a chance to win one of 10 new NFTs that feature Vivienne in a range of different looks, which will be portable across multiple platforms like a PFP.
👨🏻💻Decentralized Finance (DeFi)
Uniswap Launches Swap Widget For Third-Party Apps
Gnosis Safe will Launch SAFE Token
Metamask Warns iCloud Backup
MetaMask Institutional Adds Ethereum Gnosis Safe, Custody Options
Beanstalk Farms Exploit
DotDot Finance is Live
Vesta Joins Frax War
Curve x AnyCall Cross-chain Gauges
88mph Rebrands into Timeless
Nebula Protocol Launches
BOBA Mainnet Update
Yeti Finance Mainnet is Live
Kinetic Money is Live
🏛Governance - Active Proposals
Ampleforth - Execute First FORTH Mint
Compound - COMP Rewards Adjustments - Kickstart Rewards: Step Two
Fei - FIP-92: Vote-escrow BAL
🦮NFT & Metaverse
Moonbirds Launch
Crypto Raiders $1M Tournament
YGG’s Guild Advancement Program
Pplpleasr Prefers Rarible and Foundation Over OpenSea
NBA Teases Ethereum NFTs
Louis Vuitton Releases New NFTs
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Real Player DAO - Undisclosed $ Seed Round
EPNS - $10.1M Series A
Fasset - $22M Series A
⚖️Regulatory Update
European Commission Receives More than 10,000 Public Comments
Russian Bankers Reportedly Want to Outlaw Noncustodial Crypto Wallets
Tornado Cash to Block Access From OFAC Sanctioned Addresses
US Officials Tie North Korea’s ‘Lazarus’ Hackers to $625M Crypto Theft
North Korean Hackers Keep On Laundering Crypto
📚Noteworthy Reads
The DeFi Edge’s Thread on Investing with a Small Budget
Tarun Chitra’s Read on Retroactive Airdrops are Exotic Options
Croissant’s Thread on DeFi Summer in 2020
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.