Welcome to the 115th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between October 9th and October 16th, 2022.
🔥 The DeFi Bulletin
- Mango suffered a $100M exploit, with the token $MNGO falling 40%.
- Temple DAO also recently suffered a $2.3M exploit.
- BNB performed a hard fork to fix the $100M exploit.
- Mango DAO agreed to let a hacker keep $47M in a new proposal.
- The EU Commission is seeking automated Ethereum monitoring, through “embedded supervision”.
- The SEC is questioning Yuga Labs over unregistered offerings, with a valuable question being whether NFTs are securities.
- Gensler is supporting the CFTC in gaining more power over spot markets.
- The US Treasury has fined Bittrex $29.3M for violating sanctions and the Bank Secrecy Act.
- Coin Center has sued the US Treasury over the Tornado Cash sanctions.
- A Judge allowed crypto advocates to join Ooki’s defense against the CFTC.
- $BUSD is now available on Polygon, per an expansion.
- VC money deployment is still slow, due to investors waiting for lower token valuations.
- Offchain Labs acquired Prysmatic Labs, an Ethereum software team.
- ParaSwap is planning for fewer token emissions with a new escrow system.
- PieDAO has considered ending its liquidity mining in a proposal, to account for its token’s decline.
- Pillow, a crypto investment startup in Singapore, closed an $18M Series A funding round.
- Zerion secured $12M in funding, with the round led by Wintermute Ventures.
- Pine Street Labs, an enterprise crypto wallet startup, raised $6M in funding.
💵 State of the Stablecoins
- Regulators are targeting Stablecoins, according to Robert Leshner of Compound.
💱 DEX Report
💎 NFT News
- CNN is accused of rug-pulling its NFT project, as it was abandoned.
- OpenSea launched support for Avalanche on their NFT marketplace.
- MetaStreet, an NFT financing firm, secured $24M in funding.
- Gomu, an NFT infrastructure company, raised $5M in seed funding.
- Otterspace, an NFT startup, closed a $3.7M funding round.
Thanks for reading, and be sure to catch the 116th issue of The Defiprime Post out this time next week! 👋♦️👋