Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
ETHPOW KO'd Already?!
https://twitter.com/scottmelker/status/1571200237653336071 What the vast majority of people already knew would happen eventually happened and much earlier than anticipated. ETHPOW, the forked version of Ethereum, crashed hard after the Merge, losing over 85% of it's initial value. The fork was already fighting an uphill battle with how they would operate in parallel to Ethereum, but they had a big issue right off the bat…their chainID was matching other existing chainID's, which wou...
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Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
ETHPOW KO'd Already?!
https://twitter.com/scottmelker/status/1571200237653336071 What the vast majority of people already knew would happen eventually happened and much earlier than anticipated. ETHPOW, the forked version of Ethereum, crashed hard after the Merge, losing over 85% of it's initial value. The fork was already fighting an uphill battle with how they would operate in parallel to Ethereum, but they had a big issue right off the bat…their chainID was matching other existing chainID's, which wou...
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Big week in crypto!
Banks going down causing BTC to go up.
Alts (sort of) following suit.
But who are the biggest winners and losers for the week?
Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1).
There was one TRUE winner though.
The entity who was able to sell their tokens for a whopping $10.27 per token to result in a $64,000+ haul. Apparently, they had another transaction after that netted another $20,000 as well. On-chain transaction data reveals that the wallets went through front-run bot testing for up to 30 days prior to the launch, so they were ready when the token finally dropped:
Biggest Loser(s): Arbitrum Airdrop Participants with Vanity Addresses Unfortunately, there were some eligible addresses that had their tokens stolen right from under their noses.
Those with vanity addresses (NOT ENS domains) have apparently been compromised for some time, and a hacker took advantage during what should have been an exciting moment for these victims.
The hacker was either able to find the private key for certain vanity addresses that used Profanity, a vanity generation service, or generated similar addresses and was able to direct the airdrops to those wallets instead, putting in question the security behind vanity addresses.
Biggest Loser: Do Kwon That’s right. Same day as the Arbitrum drop, Montenegro authorities supposedly did some high-end nabbing of their own.
Do Kwon, International Man of Running Away From Investors, was reportedly caught after using falsified Costa Rican documents to fly to Dubai.
Montenegro’s Ministry of Internal Affairs, Filip Adzic, tweeted the following:
After being on the run for almost a year, the cocky former CEO of Terraform Labs’ global marathon seems to be over.
SBF and him should talk about possibly rooming together for the foreseeable future…
Written by: nikethereum.eth / Medium / Mirror / Lens
Big week in crypto!
Banks going down causing BTC to go up.
Alts (sort of) following suit.
But who are the biggest winners and losers for the week?
Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1).
There was one TRUE winner though.
The entity who was able to sell their tokens for a whopping $10.27 per token to result in a $64,000+ haul. Apparently, they had another transaction after that netted another $20,000 as well. On-chain transaction data reveals that the wallets went through front-run bot testing for up to 30 days prior to the launch, so they were ready when the token finally dropped:
Biggest Loser(s): Arbitrum Airdrop Participants with Vanity Addresses Unfortunately, there were some eligible addresses that had their tokens stolen right from under their noses.
Those with vanity addresses (NOT ENS domains) have apparently been compromised for some time, and a hacker took advantage during what should have been an exciting moment for these victims.
The hacker was either able to find the private key for certain vanity addresses that used Profanity, a vanity generation service, or generated similar addresses and was able to direct the airdrops to those wallets instead, putting in question the security behind vanity addresses.
Biggest Loser: Do Kwon That’s right. Same day as the Arbitrum drop, Montenegro authorities supposedly did some high-end nabbing of their own.
Do Kwon, International Man of Running Away From Investors, was reportedly caught after using falsified Costa Rican documents to fly to Dubai.
Montenegro’s Ministry of Internal Affairs, Filip Adzic, tweeted the following:
After being on the run for almost a year, the cocky former CEO of Terraform Labs’ global marathon seems to be over.
SBF and him should talk about possibly rooming together for the foreseeable future…
Written by: nikethereum.eth / Medium / Mirror / Lens
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