This Week’s Winners and Losers in Crypto
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)...
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...
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This Week’s Winners and Losers in Crypto
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)...
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...
Share Dialog
Share Dialog
There's further turmoil for what was considered one of the hottest DeFi protocols in the market. TribeDAO, which was mainly comprised of Rari Capital and Fei Protocol, has seen a fall from grace after the infamous $80m hack back in April. Since then, information was revealed in how the hack might have happened (poor coding by inexperienced developers) and the DAO has made some questionable decisions in how they will repay users that lost money due to the exploit. Most recently, a proposal was created by Fei/Rari that would essentially not pay out users, as was originally planned. This caused an uproar in the community, and essentially sealed the fate for the troubled DAO.
https://twitter.com/samkazemian/status/1560922661387001856?s=21&t=4gEUsN7kdGhO5N4eq2tPsw
I'm sad to see this happen. The protocol I am currently working for has deep ties with TribeDAO, but has had to distance themselves since because of the poor management and decisions by key individuals in TribeDAO. Although I do not wish anyone to be in this situation, what has happened has happened. I do hope they eventually figure out a way to pay back their users, but that might be a lost cause at this point.
Written by: nikethereum.eth / Medium / Mirror
There's further turmoil for what was considered one of the hottest DeFi protocols in the market. TribeDAO, which was mainly comprised of Rari Capital and Fei Protocol, has seen a fall from grace after the infamous $80m hack back in April. Since then, information was revealed in how the hack might have happened (poor coding by inexperienced developers) and the DAO has made some questionable decisions in how they will repay users that lost money due to the exploit. Most recently, a proposal was created by Fei/Rari that would essentially not pay out users, as was originally planned. This caused an uproar in the community, and essentially sealed the fate for the troubled DAO.
https://twitter.com/samkazemian/status/1560922661387001856?s=21&t=4gEUsN7kdGhO5N4eq2tPsw
I'm sad to see this happen. The protocol I am currently working for has deep ties with TribeDAO, but has had to distance themselves since because of the poor management and decisions by key individuals in TribeDAO. Although I do not wish anyone to be in this situation, what has happened has happened. I do hope they eventually figure out a way to pay back their users, but that might be a lost cause at this point.
Written by: nikethereum.eth / Medium / Mirror
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