[IanGPT] CEO of Layer Zero Responds to FTX Suit

• CEO labels FTX lawsuit as "unsubstantiated," cites year-long ignored communication on share ownership.
• Refutes preferential withdrawal claims; notes personal deposits of millions before FTX's bankruptcy.
• Withdrawals mostly for standard gas rebalancing between L1 currencies.
• Criticizes FTX's "outrageous" gross withdrawal-based accounting.
• Tried to repurchase STG tokens; claims FTX counsel lacks basic blockchain knowledge.
• Condemns FTX's "mudslinging," eager to settle in court.

Source

DOT Token Unlock Alert

- according to parachains.info, ~100M DOT (~$400M) is scheduled to be unlocked on Oct 24, 2023
- DOT is trading at ~$4 as of the time of writing, -84% down since the tokens were locked in Dec 2021

https://twitter.com/_FabianHD/status/1701064554338226468

ZachXBT Donation Refund Claims is Live

https://twitter.com/zachxbt/status/1701232146159931730
https://twitter.com/0xCygaar/status/1701236162340262285

According to Messari, only $9.2M SOL held by Alameda will be unlocked per month

https://x.com/MessariCrypto/status/1701271690150396278
https://messari.io/report/ftx-liquidations-update

[IanGPT] Visa Deep Dive on Solana

• Visa sees Solana as a promising blockchain for mainstream payments.
• High Transaction Throughput: Solana averages 400 TPS, surging to 2,000 TPS at peak, compared to Ethereum's 12 TPS.
• Parallel Processing: Solana's multi-threaded design enables simultaneous transaction execution, improving efficiency.
• Low Costs: Transaction fees under $0.001, predictable due to localized fee markets.
• Fast Finality: Targets 400ms slot time, uses "optimistic confirmation" for quick transaction finality.
• High Availability: 1,893 active validators, 925 RPC nodes, diverse geography.
• Multiple Validator Clients: Increases network resilience.
• Visa plans to test Solana in its stablecoin settlement pilot for corporate treasury operations.

Source

Binance Futures Experiencing Technical Issue

https://twitter.com/cz_binance/status/1701516534181400600?

[IanGPT] Mantle Partners with Ondo Finance for RWA Stablecoin USDY

- USDY is a tokenized note backed by US Treasuries and bank deposits
- USDY holders earn yield, currently at ~5% APY
- users do not need to onboard with Ondo to acquire or trade USDY
- users who want to mint USDY have to onboard with Ondo, and require KYC to do so. this is available to "nearly all non-US individuals and institutions"

- USDY will have two forms, a rebasing & accumulating form:
— accumulating form (native form): redemption value increases based on interest rate set by Ondo
— rebasing form (launching mid-October): wrapped USDY (rUSDY), value stays pegged at $1, interest accrued via new rUSDY tokens

News Source
rUSDY Mechanics

Metamask Snaps Launches Open Beta
Now live in v11.0+ of Metamask

- Snaps are like browser extensions, but for Metamask
- Snaps augment and enhance user experience and Metamask capabilities beyond the base wallet app
- e.g. with the Leap Cosmos Wallet Snap, users can connect to and interact with Cosmos dApps directly from Metamask

- 34 snaps live, allowing access to non-evm blockchains like solana, cosmos, aptos, sui, algorand, arweave, tezos, starknet

Official Tweet
Snaps Directory

Native USDC Officially Live on Cosmos

- USDC is now live on Cosmos and minted on the Noble blockchain
- businesses and institutions can access on/off ramps for Noble USDC
- CCTP will launch on Noble's testnet later this month, mainnet soon after

https://x.com/circle/status/1701582597376336173

SEC REVIEWING GRAYSCALE RULING, BITCOIN ETF FILINGS: GENSLER: BBG

It appears the hot wallets for CoinEX are currently being drained for $30M+ so far on ETH, TRON, Polygon.

ETH
0x8bf8cd7F001D0584F98F53a3d82eD0bA498cC3dE
0x483D88278Cbc0C9105c4807d558E06782AEFf584
0xCC1AE485b617c59a7c577C02cd07078a2bcCE454

TRON
TPFUjxQzG88Vwynrpj2W61ZAkQ9W2QYgAQ

Polygon
0x4515bE0067E60d8e49b2425D37e61c791C9B95e9

[IanGPT] Binance US CEO Departs Amidst Cuts of a Third of its Staff - BBG

- Binance.US CEO Brian Shroder exits; replaced by Chief Legal Officer Norman Reed.
- Company to cut one-third of its workforce amid regulatory pressures.
- SEC previously accused Binance.US and parent company of mishandling funds and misleading investors; allegations denied.
- Company also facing scrutiny from the CFTC and Justice Department.
- Banking partnerships severed, affecting dollar deposits and withdrawals.
- Market share drops to 0.6% from 2.39% in April; trading volume declines.
- Spokesperson says actions give the company seven years of financial runway, criticizes SEC's "aggressive attempts."
- Binance Holdings also losing key executives in recent months.

Curve OTC Counterparty "erwwer" has moved ~600K of their initial 2.5M CRV to a fresh address.

This address has sent 54K CRV to Binance so far.