Important news of the day - October 6, 2023 👇👇
1. Legendary Foundry Games, a blockchain game funded by Three Arrows Capital, announced that it will cease operations because NFT sales in May 2023 were lower than expected and financially unsustainable. Link: https://discord.com/channels/943153589700935754/943183492894851082/1157263453396942969
2. According to a recent Epoch 512 report, 19.637 million SOL was left unstaking, with a net unstaking amount of 16.516 million SOL (about 372 million USD). Most belong to the former a16z and Alameda (currently or ftx Estate). Link: https://solanacompass.com/statistics/staking
3. The Singapore Government will establish a new inter-agency committee, with members including MAS, MHA, MinLaw, MOM and MTI, to review the anti-money laundering system in light of the latest and largest money laundering case in history. Link: https://www.mof.gov.sg/news-publications/speeches/second-minister-for-finance-and-national-development-s-ministerial-statement-on-singapore-s-anti-money- laundering-regime-3-october-2023-in-parliament?utm_campaign=FY23Q1-%20Weekly%20Roundup%20Newsletter%20-%20Engage%20Subscribers&utm_medium=email&_hsmi=277150880&_hsenc=p2ANqtz--ghY6XCMdKKhk3Z2bOaPT xgIdbauwFihNQvU5DZvIwGfnjHLJ6lE649gM8t52SSM0xdzZF5BU9AtfMfK7MwRposmVGsg&utm_content=277150880&utm_source=hs_email
4. XION announced that it has received investment from Circle and become the first L1 blockchain to use USDC as its main trading currency. USDC will be collected and swapped for native tokens and distributed to validators. Link: https://x.com/burnt_xion/status/1709957295675744513?s=20
5. On October 5, the trading volume on ThorChain was 355 million USD, reaching a record high. Cumulative trading volume over the past 5 days has exceeded $1 billion, which may be related to an increase in hacker activity aimed at conducting cross-chain transactions for BTC. Link: https://thorchain.net/dashboard
6. According to Lookonchain, the FTX attacker converted a total of 75,636 ETH (about 124 million USD) into BTC and cross-linked to the Bitcoin network and it still holds 109,485 ETH (about 179 million USD). After ThorSwap was suspended, FTX attackers exchanged ETH for tBTC through Threshold Network. Link: https://x.com/lookonchain/status/1710243734162412023?s=20
7. BAYC parent company Yuga Labs has announced restructuring and layoffs, and will fully implement the "Otherside" strategy. Development work will focus on web3 and Otherside platform components. Meebits and 10KTF will become part of Otherside. Yuga Labs did not disclose the exact number of layoffs. Link: https://news.yuga.com/yuga-labs-update#
8. Galxe is suspected of having security issues and some users have reported that their assets have been stolen. Galxe responded that the Galxe website is down and working on fixing the problem, please do not connect your wallet to Galxe during this time. Link: https://twitter.com/Galxe/status/1710305141016944654?s=20
9. Iris Energy has partnered with Bitmain to purchase 7,000 of the latest generation Bitmain S21 mining machines. Shipping is expected in early 2024, increasing the Company's self-exploitation capacity from 5.6 EH/s to 7.0 EH/s. Link: https://www.globenewswire.com/news-release/2023/10/06/2756011/0/en/Iris-Energy-Increases-Mining-Capacity-by-25-to-7-0-EH- s.html
10. Blackbird, a Crypto Restaurant App, Raises $24 Million in Funding Led by A16z
The target audience is restaurant users, the blockchain-based project comes with "Flypaper" and develops the FLY Token. Link: https://www.coindesk.com/tech/2023/10/05/blackbird-crypto-restaurant-app-raises-24m-in-funding-led-by-a16z/