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The R Roundup: On-Chain Curve Catastrophe - Issue #100

Issue #100 : Web 3 News Headlines Of The Week

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The R Roundup.sol
August 06, 2023

The R Roundup: On-Chain Curve Catastrophe - Issue #100

Surprises in crypto are common but when they impact the industries darling coins, solutions are found. Uncomfortable or not.

It all began with a hacker exploiting an estimated $62m worth of crypto from a number of pools which resulted in the whole DeFi sector being under scrutiny for its security concerns. The hack was reportedly due to an issue in Vyper complier versions 0.2.15-0.3.0.

In a response to save his project, Founder Micheal Egorov, began selling tokens OTC at a discount to help with his large loan which was close to liquidation due to the drop in price.

Egorov sold millions of tokens to the likes of Justin Sun, DCFGod, Jeffery Huang, DWF Labs & others.

Since the hacker returned funds, $CRV has seen a recovery in price indicating a stringent contingency plan from the defi protocol.

Base Public Launch On The Horizon🖲️

Despite the memecoin frenzy on Base pre-launch, a date has been given of August 9th for users to be able to bridge their ETH.

The layer-2 network built using Optimism’s OP Stack will open to the public kicking off “Onchain Summer” where creators and devlopers can contribute to the dApp & art landscap on Base.

Launch Of Binance Japan🇯🇵

Ignoring all the Binance FUD & focusing on developments, they have found a new market to explore with Binance entering Japan.

Binance is emerging in Japan with the offering of services through a subsidiary to maintain in compliance with regulators. Users will be advised to migrate to Binance Japan from 14th August.

Initially, Binance Japan will offer access to 34 virtual currencies which instantly puts them above competitors.

Kenyan Govt Bans Worldcoin🇰🇪

Kenya, one of Worldcoins main target markets, has responded to AI Golden Boy, Sam Altman’s project.

It was reported last week that the Kenyan government has suspended Worldoin which was set to offer Kenyan citizens $53 worth of Worldcoins native token in return for their iris scans.

Concerns over security & privacy are all contributing factors to Kenyas choice to ban…

“any other entity that may be similarly engaging the people of Kenya”

Ministry Of The Interior - Kenya

BAYC X Animoca Crypto Game👾

Animoca Brands is aiming to emerge in the gaming sector with their latest web 3 game that involves the sought after NFT collection Bored Ape Yacht Club.

The two entities are set to team up following an Animoca subsidairy entering an agreement with Yuga Labs enabling the use of Bored Apes, Mutant Apes, Othersides & Bored Ape Kennel Club IPs.

Wreck League which is the fighting game created by Animoca & Yuga will allow gamers to collect & own in-game assets as NFTs.

We are excited to see (nWay) work towards delivering for a compelling gaming experience and additional utility for holders of these collections

Spencer Tucker - Yuga’s Chief Gaming Officer

A Week At RR📅

Check out last weeks content published on our old blog for all those new subscribers👇

RRUPDATE📍:From Hero to Zero — The Richard Heart SEC Lawsuit Unveiled👨‍⚖️

Richard Heart Faces SEC Lawsuit Alleging Unregistered Token Offerings and Misuse of Investor Funds

therroundup.medium.com/rrupdate-from-hero-to-zero-the-richard-heart-sec-lawsuit-unveiled-️-d18fc820b752

RR Files 🗂️

Wondering what we are reading this week at RR?

Worry no further

As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies.

This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.

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