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Oct 17 16 tweets 3 min read
Weekly Alpha Leak 🚰 When it Rains, It Pours - 'Tis Exploit Season

Dates Covered: October 8-14, 2022

October isn’t even over and it’s already made DeFi history with hackers stealing $718M across 11 protocols.

👇🏼🧵
1/

💊 Top Bullets: $116M Mango Markets exploit, BNB Chain hard fork to reverse $100M hack, Matter Labs Ethereum Layer 3 scaling prototype, Polygon and Matter Labs zkEVM competition, Bank of New York Mellon to custody Bitcoin and ETH, Cosmos critical software vulnerability
2/

📊 Data Highlights: Smart money near ATH for how much of their holdings are in stables, Largest Smart Money Inflows this month into cETH, cDAI, followed by regular DAI, Largest Smart Money Outflows this month,
3/

USDC and Rocket Pool, Solana 30% drop in DeFi TVL, Ethereum: down ~ 17% in NFT sales, Solana: up 100% in NFT sales
4/

🏦 DeFi Highlights: New CEO SushiSwap accused of fingering a horse, Circle's USDC market cap drops below $50B, Tether replaced commercial paper with U.S. Treasury Bills,
5/

Tool shows Celsius user’s losses, CPOOL staking live, dYdX hires former ConsenSys director as foundation CEO, Refreshed Uniswap Web App + V3 live on zkSync on Oct. 28, Offchain Labs acquiring Prysmatic Labs,
6/

BUSD on Polygon network, Cosmos developer Agoric developing a stablecoin,
7/

🖼 NFT/Metaverse/Gaming Highlights: Dapper Labs blocking Russian accounts because of new EU sanctions, Limit Break DigiDaigaku Super Bowl commercial, Meta’s Horizon Worlds on quality lockdown, X2Y2 launches P2P NFT loan function,
8/

OpenSea launches on Avalanche, DeGods switches to 0% royalty model, CNN pulls plug on Web3 NFT project Vault
9/

💸 Exchange Highlights: Google selects Coinbase to take cloud payments, FTX v2 live on Nov. 21, Huobi selling majority stake to About Capital Management, Binance may spend more than $1B on acquisitions and investments,
10/

Coinbase gets license in Singapore and plans to expand in Asia, Binance $500M fund for struggling miners
11/

👨‍⚖️ Economic/Government/Regulatory Highlights: Markets in Crypto-Assets legislation passed the European Parliament, Yuga Labs facing a probe by the U.S. SEC, Portugal's 2023 budget proposal includes a 28% income tax,
12/

J.P. Morgan and Visa partner to streamline cross-border payments, Coin Center lawsuit against OFAC over sanctioning Tornado Cash, Chinese CBDC volume crossed $14B, Crypto advocates to join Ooki DAO defense against CFTC
13/

💰 Fundraising Highlights: Uniswap Labs, Tatum, nxyz, Pillow, Rye, Zerion, MetaStreet

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More from @M6Labs

Oct 17
There is a high degree of parallels between pre-March 2020 and the current TradFi markets

@hodlKRYPTONITE wrote a thread for degens and advised them to "panic and prepare"

We summarized the key points in an illustrative thread to understand the situation

🧵👇
1/ Stocks were doing just fine at the start of 2020, but there were initial signs of a crisis

Then a bearish signal flashed in an asset class that is arguably the most liquid market

Asia's emerging market currencies like KRW, SGD, CNH, INR, IDR were blowing up
2/ By Feb 2020, the equity markets and the world became aware of it. As a result, debt markets dried up and forex volatility was through the roof

However, up until now, Crypto was not affected by the stress

It was in March 2020 that we had a correlation event and a run on cash
Read 11 tweets
Oct 16
1/

💊M6 Daily Bullets💊

Sunday, October 16, 2022

- A judge has partially denied a motion by Aptos Labs CEO Mohammed “Mo” Shaikh to dismiss a lawsuit filed by entrepreneur Shari Glazer, who claims to have been cheated out of equity as an early investor
2/

- J.P. Morgan and Visa are teaming up to streamline cross-border payments using their private blockchain networks, Liink and B2B Connect

- October becomes worst month in DeFi history as hackers steal $718M across 11 protocols
3/

👨‍⚖️ Government, Regulatory and Legal News:

- US crypto policy advocacy group Coin Center has filed a lawsuit against the Treasury Department’s Office of Foreign Asset Control (OFAC) over sanctioning cryptocurrency mixer Tornado Cash
Read 13 tweets
Oct 14
What happens when blockchains begin to scale?

You run into the problem of Data Availability (DA)

We break down what it is and how @CelestiaOrg is innovating the scalable data layer architecture

🧵👇 Image
1/ TL;DR: Why should DA matter to you?

It comes down to cost - txn fees can get high during high-use periods

With chains becoming increasingly developed in the past several years, scaling has become a critical priority for networks buckling under increasing transaction volume Image
2/ Before we continue...

You can read the unrolled version of this thread here: m6labs.co/p/what-is-data…
Read 20 tweets
Jun 11
💊M6 Daily Bullets💊
📅Friday - June 10th📅

Wall street banks are dabbling in crypto derivatives



⁍Great spreads are attracting institutional money to crypto derivatives. Even though this is often the only crypto exposure they have, it’s a good start.
1/ ⁍The promise of regulatory clarity and better infrastructure is getting their attention though. Elwood Technologies is a new addition to the crypto derivatives space that’s bringing institutional grade derivatives trading infrastructure to these big Wall Street players.
2/ Web5 will be Bitcoin based

bitcoinmagazine.com/business/jack-…

@jack thinks #Web3 has good intentions but is using the wrong tools to achieve its mission. So he’s building what he thinks we need and will be skipping right past Web4.
Read 36 tweets
Jun 10
💊M6 Daily Bullets💊

📅Thursday - June 9th📅

Aztec upgrades privacy for Ethereum DeFi users



@aztecnetwork has improved upon their zkmoney product and is launching their “Connect” upgrade that allows #Ethereum DeFi apps to integrate data privacy.
@aztecnetwork 1/ ⁍They plan to position themselves as a privacy focused L2 that’s compatible with all popular #DeFi apps like @compoundfinance, @AaveAave, @LidoFinance, and @ribbonfinance. We’re privacy maxis and will be happy to start using this fully encrypted DeFi solution.
@aztecnetwork @compoundfinance @AaveAave @LidoFinance @ribbonfinance 2/ Jay-Z and Jack Dorsey Launch 'Bitcoin Academy' at Jay-Z’s old neighborhood



⁍Jay-Z wants to give back. He and @jack are creating a “Bitcoin Academy” that aims to provide crypto & financial literacy to residents of the Bedford-Stuyvesant neighborhood.
Read 33 tweets

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