Crypto Guides, Knowledge & Insights

Kraken Ventures Seeks to Raise $100 Million for Its Second Fund

According to a report by The Block, three sources familiar with the matter have revealed that Kraken Ventures is actively seeking to raise $100 million for its second fund. This move is aimed at addressing the significant challenges faced by cryptocurrency venture capital in the current landscape.　　According to Crunchbase records, Kraken Ventures launched its inaugural fund on December 17, 2021, raising a total of $65 million. Over the course of its history, Kraken Ventures has participated in 32 investment rounds, with two instances where it led as the primary investor.　　

2023-08-15Deep Dive

RocketSwap, a Project in the Base Ecosystem, Falls Victim to Attack, Losing 471 ETH

A tweet from RocketSwap, a project within the Base ecosystem, has disclosed that their assets were stolen due to a server breach caused by brute force attacks. The team mentioned that during the deployment of the launchpad, they needed to use offline signatures and stored private keys on their servers. Unfortunately, the breach resulted in the theft of assets.　　CertiK Alert has issued a tweet reporting that RocketSwap has been targeted by a vulnerability attack. The attacker managed to utilize Stargate Finance to bridge the stolen assets onto the Ethereum network, resulting in a loss of 471 ETH (approximately $868,000). The address of the attacker is 0x96c0876F573e27636612CF306C9db072d2B13DE8.　　After stealing ETH, the address created a token named loveRCKT and added 400 ETH worth of liquidity to it.　　

2023-08-15Deep Dive

CoinDesk Trims Workforce by 20 Amidst Parent Company DCG's Strategic Investor Introduction

In light of its parent company, Digital Currency Groups (DCG), plans to introduce strategic investors, CoinDesk has made the decision to terminate 45% of its editorial staff. The media company will convene an all-staff meeting at 4:00 PM Eastern Time to discuss the layoffs. According to insiders, the company will let go of 20 individuals, constituting 45% of its editorial team.　　Earlier in July, it was reported that CoinDesk was on the brink of finalizing a $125 million deal with a consortium led by cryptocurrency investor Matthew Roszak of Tally Capital. As part of the transaction, DCG would retain ownership of shares in the media assets, which encompass event, data, and index-related services.　　

2023-08-15Deep Dive

BTC Correlation Skyrockets 40% with U.S. Equities in August Slump

Key Points:　　In August, BTC aligns with U.S. equities, spiking to 40%　　Kaiko data shows Bitcoins bond correlation hits 33%, surprising investors.　　Convergence of Bitcoin with traditional assets prompts a reevaluation of strategies.　　Bitcoin (BTC) and traditional U.S. equities have experienced a notable uptick in August.　　Data provided by Kaiko reveals that the correlation between BTC and U.S. equities has risen to 40%, while its correlation with the iShares Core U.S. Aggregate Bond ETF (AGG) stands at 33%.　　This unforeseen development has caught the attention of investors and analysts alike, as the cryptocurrency market has long been considered somewhat independent of the movements in traditional financial markets. Historically, Bitcoin has often been hailed as a potential “digital gold” and a hedge against economic uncertainty, drawing comparisons to safe-haven assets like gold and bonds.　　The recent data contradicts this narrative, indicating a convergence of sorts between Bitcoin and conventional investment vehicles. This shift could potentially reshape the perception of BTCs role in investment portfolios, and prompt investors to reevaluate their strategies.　　This change in correlation comes on the heels of a series of fluctuations in Bitcoin‘s value. After experiencing a promising 13% surge in June, BTC’s performance took a turn for the worse in early July, marked by a

2023-08-15Deep Dive

Sei Network Discord Hacked! Beware of Suspicious Links to Stay Safe

Key Points:　　Sei Networks official Discord server was compromised, overseen by Certik.　　Unauthorized access exposes sensitive data, raising security concerns.　　Breach prompts caution, raises questions about security protocols.　　The official Discord server of Sei Network has fallen victim to a security breach under the watch of Certik.　　The incident has raised concerns within the crypto community, urging users to exercise caution and vigilance.　　Reports indicate that unauthorized access was gained into the Sei Network Discord server, potentially exposing sensitive information and jeopardizing the security of its members. The breach has prompted the team at Sei Network to issue a stern warning to users, urging them not to click on any links or engage in any activities within the server until the situation is fully under control.　　Certik has been overseeing the networks security measures. However, the breach has now cast a spotlight on the efficacy of these security protocols.　　Sei Networks spokesperson acknowledged the incident, stating that the team is working diligently to regain control of the server and assess the extent of the breach. They emphasized that user data protection is of utmost priority and reassured the community that all necessary actions are being taken to rectify the situation.　　The incident serves as a stark reminder of the

2023-08-15Deep Dive

Sam Bankman-Fried Misused $100M In Customer Funds For Political Donations

Key Points:　　FTX founder Sam Bankman-Fried is alleged to have used customer funds for political donations totaling over $100 million.　　The indictment accuses FTX of exploiting its customers, embezzling their deposits, and using the stolen funds for various purposes.　　FTX founder Sam Bankman-Fried allegedly used stolen customer funds for $100M+ political donations. Bankman-Fried faces 7 counts of fraud and conspiracy charges and has pleaded not guilty.　　　　According to the latest indictment, FTX founder Sam Bankman-Fried is alleged to have used customer funds that were stolen for political donations totaling over $100 million. These funds were then converted into campaign contributions ahead of the 2022 U.S. midterm elections.　　In addition, the indictment accuses FTX of exploiting its customers, embezzling their deposits, and using the stolen funds for various purposes, including enriching Bankman-Fried himself, supporting the growth of FTX, and political contributions. Bankman-Fried, who is 31 years old, has been charged with seven counts of conspiracy and fraud in relation to the exchanges collapse. He has entered a plea of not guilty.　　Bankman-Fried‘s current situation in Brooklyn’s Metropolitan Detention Center (MDC) contrasts dramatically with his previous lavish lifestyle. MDC has been marred by staffing shortages, power outages, and unsanitary conditions, with inmates, including high-profile ones like Ghislaine Maxwell

2023-08-15Deep Dive

EigenLayer Announces Increase in Liquidity Re-staking Limits for stETH, rETH, and cbETH on August 22

EigenLayer has officially announced its plan to once again increase the liquidity re-staking limits for stETH, rETH, and cbETH on August 22nd. The specific criteria state that when the re-staking amount for any of these three assets reaches 100,000 units, the protocol deposits will be temporarily paused again.　　EigenLayer is a protocol built on Ethereum that introduces the concept of re-staking native staked ETH or using Liquidity Staking Tokens (LST). Users have the option to participate in the EigenLayer smart contract to re-stake their ETH or LST, extending cryptographic economic security to other applications on the network and earning additional rewards.　　EigenLayer previously opened its staking on June 15th and raised the re-staking limit on July 13th. This marks the second increase in re-staking limits.　　

2023-08-14Deep Dive

US Judge Revokes SBF's Bail，SBF's Legal Team Files Appeal

According to information disclosed by Inner City Press on Twitter, US Federal Judge Lewis Kaplan, during a hearing at the Southern District Court of New York, has decided to revoke the bail of SBF. The judge cited at least two attempts by SBF to interfere with witnesses.　　The US Department of Justice had previously accused SBF of leaking private diaries of Caroline Ellison, the former CEO of Alameda Research, to the media. SBF is facing seven different charges related to the collapse of FTX, including telecommunications, commodities, and securities fraud.　　Subsequently, Fox Business reporter Eleanor Terrett tweeted that Judge Lewis Kaplan had denied the defenses request to postpone detention during the appeals process. SBF was incarcerated on August 12th.　　Less than an hour after SBFs detention, their legal team had already filed an appeal for release and had paid the $505 application fee.　　

2023-08-14Deep Dive

NEAR Protocol Q2 Roadmap Update

NEAR Protocol has released its Q2 roadmap update, with the Pagoda development team submitting three proposals to implement account extensions. These proposals include the NEP for account namespaces, the NEP for wasm submodules, and the NEP for shared contract code storage.　　The team has made significant improvements to the mainnet, achieving an 8x increase in state read performance. Backend writing capabilities are currently in progress, potentially reducing state writing costs by threefold. Additionally, cold storage has been fully deployed, significantly lowering the costs associated with running archival nodes.　　In the realm of state synchronization enhancements, nodes are now capable of syncing the mainnet state within 3 hours. A fully-featured new state synchronization tool is projected to be delivered in the third quarter. The team has also delivered Finite Wasm and its integration with nearcore, enhancing the security and stability of NEAR contract runtime.　　In the “Experience” section of the roadmap, there are two changes: the required changes for implementing account extensions are temporarily shelved, and the protocol team will focus on addressing storage refunds. In the core part of the roadmap, the third quarter will pivot towards the second phase of sharding. This involves re-sharding the current mainnet state and removing the requirement

2023-08-14Deep Dive

Will ApeCoin Hold The $2 Price To Get Through The Crisis?

Key Points:　　Apecoin (APE) plummets 90% from its 2022 peak, disappointing NFT holders.　　APE battles a 6-month decline amidst Bitcoins stagnant phase.　　Low volume and NFT sector disinterest cloud APEs future.　　The trajectory of Apecoin (APE) has taken a challenging course as it continues to chart lower highs and lower lows on the daily chart.　　While Bitcoin‘s sideways price movement has cast a shadow over many altcoins, APE has borne the brunt of this trend, registering six consecutive months of decline. The renowned cryptocurrency pioneer’s narrow trading range has left little room for altcoins to thrive, including Apecoin.　　Presently, this digital asset finds itself in a substantial slump, plummeting by a staggering 90% from its 2022 peak. The projects performance has left Bored Ape Yacht Club (BAYC) holders disheartened, as their optimism for APE crypto has met with disappointment.　　Despite attempts at recovery, APEs price has remained relatively stagnant in recent days, mirroring the subdued movement seen among other altcoins. The market anticipates a significant Bitcoin shift that could potentially reinvigorate these digital assets.　　Presently, APE‘s fate seems intricately tied to broader market cues for resurgence, lacking support from the NFT sector despite its association with the BAYC’s NFT collection.　　In the context of recent trading activity, ApeCoin has

2023-08-14Deep Dive

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