28 October

“According to Cream’s native front end, most Ethereum-based pools are now empty with the exception of a $40 million $CREAM pool. As of Oct 23, the protocol’s Ethereum markets had $300 million worth of assets.

The funds appear to have been taken using a flash loan in a notably complex transaction that involved 68 different assets and cost over 9 ETH in gas. Of the $260 million lost, the attacker netted roughly $130 million in various cryptocurrencies, of which $40.6 million may be in illiquid crETH, a staked ETH derivative that may prove difficult for the attacker to sell. The attacker is now working to “wash” the funds primarily using Ren’s Bitcoin bridge.

The protocol has an additional $460 million in total value locked (TVL) across Binance Smart Chain, Polygon, Avalanche and Fantom. It is unclear if those funds are also at risk.”

“Anchorage is about to raise at a $3 billion valuation. They’re raising a big round and it’s based on the fact that financial institutions are looking to enter this space.

The forthcoming raise comes as crypto firms are bringing in venture capital valuations that make tech “unicorn” status look quaint. Last week, London-based crypto custody firm Copper said it was raising $500 million at a $2.5 billion valuation. Crypto custody, in particular, has become a hot sector, with banks and large fintechs looking to acquire firms specializing in the storage of digital assets.

“From Oct. 19, when the ProShares ETF started trading, through Tuesday, BITO shares were down by 2.45%. Bitcoin was down 1% over the same period, and GBTC was up 7.5%. The discrepancy has rekindled criticism of the U.S. Securities and Exchange Commission’s (SEC) decision to allow an ETF focused on bitcoin futures – as is the case for ProShares – but not an ETF that would be backed directly by bitcoin.

Grayscale is pushing hard to convert GBTC into a spot bitcoin ETF, citing some of the disadvantages of a futures-based ETF. Those include the risk of “roll costs” or “contango bleed” – a source of underperformance that stems from the unique structure of futures markets.

BITO’s launch has helped to drive up the price of bitcoin futures on the Chicago-based CME exchange, which in turn ‘has also been driving spot prices higher.’

The product has seen strong inflows since launch, demonstrating investor appetite for accessing the crypto markets. But it may also come at the expense of U.S. bitcoin futures ETF investors.”

“Blockchain Creative Labs is a new NFT business and creative studio owned by FOX Entertainment and Bento Box Entertainment.

Blockchain Creative will work closely with WWE to create NFTs capturing memorable moments in wrestling, including WWE Superstars and events such as WrestleMania and SummerSlam.”

“Polkadot brand bounty curator Kaye Han said the new branding is key to reaching a casual audience as the project expands, and that it may be a first when it comes to decentralizing brand management. DOT token holders have the option of selecting one of two design formats for future web and social layouts, as well as one of two new logos – all inspired by dots and featuring various animation styles.

This is a novel and experimental approach that is far from perfect, but it’s a step in the right direction in exploring decentralized branding.”