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• Jul 23, 4:10 PM dYdX

  dYdX v3 website compromised, users warned to avoid access

  dYdX's v3 interface has been compromised, prompting an urgent warning to users. The crypto exchange advised against visiting dYdX.exchange or clicking any associated links until further notice. This security breach is specific to the v3 platform and does not affect dYdX v4. The exchange is investigating the issue and will provide updates as they become available.

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• Jul 23, 3:30 PM Cryptoslate

  Large Ethereum holders cashed out before ETF launch

  Large Ethereum holders sold off ahead of US spot ETH ETF launch, causing a spike in realized profits. Wallets holding 10,000-100,000 ETH cashed out $626.982 million on July 22. Long-term holders and those holding for 6-12 months were primary sellers. This sell-off suggests caution before potential market volatility and may indicate a shift towards ETH ETFs for institutional investors due to regulatory oversight, tax benefits, and improved liquidity.

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• Jul 23, 3:30 PM The Block

  Founders Fund leads $11 million round for Pudgy Penguins' parent to build new Layer 2 blockchain

  Igloo, Pudgy Penguins' parent company, raised $11 million in a round led by Founders Fund to develop Abstract, a new consumer-focused Layer 2 blockchain. Abstract, built using ZK Stack and EigenDA, aims to simplify dApp development. The project is led by Michael Lee, Luca Netz, and Lorenzo Melendez, with a team of crypto personalities. Abstract's testnet is live, with mainnet launch expected by year-end. Founders Fund partner Joey Krug praised Pudgy Penguins' distribution edge, positioning Abstract to onboard mainstream users to crypto.

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• Jul 22, 6:05 PM Cointelegraph

  Boden trader loses $8M as memecoin season gains momentum

  A trader lost nearly $8M trading the Biden-linked BODEN token, with the investment down 99%. Despite this, the memecoin sector shows signs of growth. MOG reached a new all-time high with an $820M market cap, while MEW surged 39% in 24 hours. Traders anticipate a potential memecoin season, with many tokens expected to hit new highs. The memecoin index against Bitcoin suggests the next leg of the bull cycle may be approaching for these crypto assets.

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• Jul 22, 5:28 PM Crypto Briefing

  ETH price may fluctuate as spot ETFs launch on July 23

  Spot Ethereum ETFs are set to launch on July 23, potentially impacting ETH price. Kaiko reports initial inflows could affect crypto valuation. Grayscale plans to convert ETHE trust into a spot ETF with a $1 billion seed. Most issuers offer competitive fee waivers. ETH implied volatility increased, indicating uncertainty around the launch. The market anticipates quick asset accumulation, but a full demand picture may take months to emerge.

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• Jul 22, 3:39 PM The Block

  NYSE Arca confirms approval to list spot Ethereum ETFs from Grayscale and Bitwise

  NYSE Arca certified its approval to list and trade spot Ethereum ETFs from Grayscale and Bitwise. Issuers await SEC's final sign-off for registration statements, expected Monday. Cboe disclosed five spot Ethereum ETFs, including Fidelity's, will launch Tuesday. This follows the SEC's approval of 19b-4 forms in May, marking a significant step for crypto ETFs in the US market.

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• Jul 22, 12:31 PM Crypto Briefing

  Bitcoin may experience breakout before US elections according to QCP Capital

  QCP Capital analysis suggests Bitcoin could rally before US presidential elections. Recent volatility in crypto markets, influenced by political events, has seen Bitcoin fluctuate between $61,000 and $67,000. Institutional interest in $100,000 call options for December remains strong, indicating confidence in a potential year-end surge. Increased options market volatility points to expectations of extreme market movements. QCP Capital favors trades with upside potential, offering a "BTC ETF Win-Range" trade with 5x returns for Bitcoin settling between $90,000 and $110,000 by December 27.

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• Jul 22, 11:59 AM Nansen

  WazirX exploiter moves and sells $8.7 million worth of stolen crypto

  The WazirX exploiter has resumed fund movements, selling $8.7 million in stolen crypto assets. They moved and liquidated 21.16 billion BOB ($800,000) and 6.7 million CHR ($1.6 million), converting proceeds to 2,501 ETH. The funds were transferred to a new address. The exploiter still holds $5 million in various tokens, including CELR, OOKI, and FRONT, which may be sold soon given recent activity.

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• Jul 22, 5:53 AM Cointelegraph

  SEC chair Gary Gensler likely to resign in early 2025 says research firm

  10X Research predicts SEC Chair Gary Gensler will likely resign in early 2025 after Biden's term ends. The firm's founder, Markus Thielen, cites Biden's withdrawal from the presidential race as a key factor. Thielen also suggests potential bullish catalysts for crypto, including rumors of Trump announcing Bitcoin as a strategic reserve asset at an upcoming conference. Analysts remain optimistic about Bitcoin's outlook despite recent US political turmoil.

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• Jul 22, 4:56 AM The Block

  Keplr wallet adds EVM support to serve modular community

  Keplr, the top Cosmos wallet app, is integrating Ethereum and Layer 2 support. This move aims to strengthen its multi-chain position, attract users active across Cosmos and EVM chains, and support modular projects. The beta release is expected within weeks, implementing EIP-6963 for multi-injected providers. This expansion aligns with Keplr's cross-chain vision and targets existing users who also use EVM wallets.

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• Jul 20, 11:05 AM Cointelegraph

  WazirX launches bounty program to recover stolen crypto assets

  WazirX, a major Indian crypto exchange, has initiated a bounty program to recover assets stolen in a recent cyberattack. The exchange has filed a police complaint, reported the incident to authorities, and is collaborating with over 500 exchanges to block identified addresses. WazirX is also engaging expert groups for transaction tracking and working with law enforcement agencies. The hack resulted in a loss of approximately $235 million, making it the second-largest centralized exchange breach recently. The exchange still holds over $104 million in unoffloaded funds.

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• Jul 20, 10:30 AM Bloomberg

  Wintermute seeks up to $300 million funding from Tencent and others investors

  Crypto trading firm Wintermute is in talks with Tencent and other investors to raise up to $300 million at a $2 billion valuation. The deal includes new stock sales and potential share sales from early investors and employees. Wintermute, a major market maker, is capitalizing on the crypto market recovery and Trump's crypto-friendly agenda. The firm operates on over 50 platforms and has facilitated nearly $5 trillion in trading volume. Wintermute recently secured a role in Hong Kong's spot-crypto ETFs and last raised $20 million in 2021.

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• Jul 19, 9:11 PM Cointelegraph

  CBOE announces July 23 launch for Franklin Ethereum ETF

  CBOE set July 23 as the launch date for the Franklin Ethereum ETF, pending regulatory approval. This follows the SEC's May 23 rule changes allowing spot Ether ETF listings. ETH ETF issuers are offering fee waivers to gain market share. Analysts predict up to $10 billion in net inflows for Ether ETFs post-launch. The crypto industry anticipates significant market impact from these new ETF products.

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• Jul 19, 8:25 PM Cointelegraph

  Grayscale plans Bitcoin ETF spinoff from GBTC fund

  Grayscale announced plans to spin off 10% of its Grayscale Bitcoin Trust (GBTC) into a new ETF called Grayscale Bitcoin Mini Trust (BTC). The new ETF is set to trade on NYSE Arca, pending regulatory approval. Current GBTC shareholders will receive proportional shares in the Mini Trust, maintaining their total Bitcoin holdings across two funds. This move follows a similar strategy with Grayscale's Ethereum Trust. Industry analysts expect the new Mini Trust to have significantly lower management fees compared to GBTC's current 1.5% annual fee.

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• Jul 19, 6:51 PM Galaxy Digital Newsroom

  Galaxy Digital boosts staked Ethereum to $3.3 billion following new acquisition

  Galaxy Digital acquired CryptoManufaktur's assets, adding $1 billion in Ethereum AUS and boosting total AUS to $3.3 billion. The deal enhances Galaxy's blockchain infrastructure and staking capabilities, with CMF's engineering team joining Galaxy. This acquisition strengthens Galaxy's position as a leading technical partner for protocols and builders in the crypto ecosystem.

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