📉Celsius Sends $500M to Exchanges - TWJ #182

Will the troubled lender dump it?

Hi folks,

I’m back with a weekly blog under the banner of my new publication, Pensive Pragmatism. As the name suggests, I aim to provide measured and informational takes on relevant crypto topics, focusing on substance over hype. The first issue was out 3 days ago and is on track to receive 1,000 views. I would appreciate it if you take a look and subscribe. I hope that you’ll like it :)

Moving forward, I’ll be acting more as an Editor for The WAGMI Journal, with the day-to-day operations being taken care of by a new author.

The Token Endgame

In today’s issue:

The crypto market is up with its total market cap at ~$900 billion. Evmos (EVMOS) is the best performer in the top 100 in the past 7-d. The Euro continues toward parity with the USD.

In other news, Celsius Network sends $500M to exchanges, AAVE proposes the creation of a new stablecoin, and US Treasury sends Biden an international crypto framework.

Shual @0xShual

POV: reading the 0xb1 celsius court filing

We’re continually improving our content, please reach out if you have ideas or want us to recap another market segment.

- Curated by Marco Manoppo (@manoppomarco)

📰Market News

⎆Celsius Network Sends $500M to Exchanges

The troubled crypto lender saga continues as Celsius sends $500M of WBTC to FTX after it repaid its MakerDAO debt. The firm has also been sued by a former contractor, accusing the firm of mismanagement and fraud.

0xb1 @0x_b1

You can find a copy of the filing here. I hope that this sheds some light not only on the history of 0xb1, but on how @CelsiusNetwork has conducted itself over the past few years in general.

⎆AAVE Proposes the Creation of a New Stablecoin

DeFi giant AAVE has proposed the creation of a new stablecoin name GHO, which will be over-collateralized. Aave users can use the assets that they have supplied to AAVE as collateral to mint GHO. The stablecoin will compete against the likes of Maker’s DAI.

stani.lens (🌿,👻) @StaniKulechov

BREAKING: The @AaveAave team submitted ARC to launch a self-sovereign overcollateralized stablecoin GHO backed by the Aave Protocol collaterals 👻 👇🏼

Aave @AaveAave

1/ Calling all GHOsts 👻  We have created an ARC for a new decentralized, collateral-backed stablecoin, native to the Aave ecosystem, known as GHO. Read more below and discuss your thoughts for the snapshot (coming soon)!👇 https://t.co/P7tHl9LbBe

⎆US Treasury Sends Biden an International Crypto Framework

The Treasury has sent Bien its framework for future international work on crypto.

Today's framework was a response to a request for an international framework within 120 days that "should reflect ongoing leadership by the Secretary of the Treasury and financial regulators in relevant international financial standards bodies, and should elevate United States engagement on digital assets issues in technical standards bodies and other international fora to promote the development of digital asset and CBDC technologies consistent with our values."

The fact sheet points to a series of international organizations, including the G7, G20, FSB, FATF, World Bank, IMF and OECD, as venues to promote the US approach to digital assets abroad. 

👨🏻‍💻Decentralized Finance (DeFi)

• AAVE Introduces GHO

• Aztec Connect is Live on Mainnet

• Celsius Finally Paid Off Debt on Maker

• Crema Finance Hacker Agreed to Return the Fund

• Shiba Inu Plans to Launch Stablecoin, Reward Token, Collectible Card Game

• StarkNet is Preparing for a Regenesis

• Dune Introduces Teams

• Circle Introduces Circle Ventures

• Tornado Cash Open-sources UI Code

• Opera Crypto Browser Integrates Coin98

• SSV DAO to Distribute $10M in Grants for Staking Projects

• ZigZag to Launch on Arbitrum

• Angel API is Live

• Astar Network Partnership with ProtoFire to Launch AstarSafe

• Arable Protocol is Live

🏛Governance - Active Proposals

• Compound - Return Accidentally Sent Funds #3

• ENS - Funding True Names Ltd

• Fei - TIP_118: PSM deprecation, Incentives withdrawal, agEUR redemption

🦮NFT & Metaverse

• Teller Introduces Buy Now Pay Later for BAYC

• Bored Ape and Mutant Ape Stolen Figure Now Total Over $18.5M

• Reddit to Launch NFT Avatars Built on Polygon

Top Sales (Last 24-h); Source: https://dappradar.com/nft

📈Deal Flow & Capital Raise

• E4C: Final Salvation - Undisclosed $ Unknown Round

• Intros Ai - $1.3M Pre-seed Round

• Tenderize - $3M Seed Round

• Thalex - $7.5M Series A

• Ondo Finance - $10M Public Token Sale via CoinList

• TON Foundation - $90M Ecosystem Fund

• Konvoy Ventures - $150M Web3 Gaming Fund

⚖️Regulatory Update

• US Treasury Develops 'Framework' for International Crypto Regulation

• FDIC Probing Voyager Claims It Was Insured by Regulator

• Johnson's Exit as British Prime Minister Leaves UK Crypto Ambitions on Hold

• Celsius Accused of Fraud in Lawsuit by Ex-Employee

• Binance Gets Crucial License for Its Spanish Subsidiary

📚Noteworthy Reads

• Jump Crypto’s Read on Token Design for Serious People

• Himgajria’s Read on NFBs: Non Fungible Bonds

• 0xHamZ’s Thread on Voyager Digital Bankruptcy Filing

Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.

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DISCLAIMER:

All the information presented on The WAGMI Journal publication and its affiliation is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.