1. The founder of Curve deposited 11 million CRV to Silo and lent 1.8 million crvUSD, and then converted it into stable currency to repay most of the debt.
Scopescan monitoring shows that Curve founder Michael Egorov deposited 11 million CRV ($5.73 million) into Silo 6 hours ago and lent 1.8 million crvUSD. Then 1.8 million crvUSD was exchanged for USDT and DAI, of which 1.55 million USDT was used to repay the debt on Aave and 250,000 DAI was sent to the xDAI bridge.
2. Russian “Crypto Queen” Valeria Fedyakina was arrested on suspicion of defrauding US$72 million
Russian Instagram model/crypto star Valeria Fedyakina, also known as “Bitmama” among cryptocurrency investors, has been arrested in Moscow on suspicion of defrauding clients out of nearly 7 billion rubles ($72 million), foreign media reported. The 28-year-old received cash from her clients in Russia and promised to withdraw the funds in another country, offering additional bonuses for those withdrawals instead of charging commissions. She worked almost exclusively with wealthy clients and reportedly turned over tens of millions of dollars a day. Fedyakina told investors they could expect a 1% return on the money they deposited with her. Currently, Bitmama faces up to ten years in prison if convicted of fraud. She is reportedly being held in jail awaiting trial despite being six months pregnant. It is believed she was denied bail because she has a residence permit from the United Arab Emirates.
3. A whale exchanged 3999 ETH into stablecoins through Uniswap 4 hours ago
On-chain analyst Yu Jin wrote that 4 hours ago, a whale sold 3,999 ETH for 5.04 million DAI + 560,000 USDT + 720,000 USDC (a total of $6.32 million) through Uniswap. The average selling price was $1,582. He currently holds 2,970 ETH (about $4.72 million).
4. The first round of voting for the Arbitrum Security Council election has ended, and 24 nominees have advanced
The first round of voting for the Arbitrum Security Council election has ended, and 24 nominees have qualified. The Arbitrum Foundation has begun the compliance process for the 24 qualified candidates. This phase will last for 2 weeks and end on October 6, 2023. In addition, the final round of voting will begin on October 6, which will determine the next group of Security Council members.
5. Radiant applies for up to 3.36 million ARBs in grant funding from Arbitrum’s short-term incentive program
Multi-chain lending protocol Radiant Capital has submitted a proposal to Arbitrum DAO's Short-term Incentive Program (STIP), seeking grant funding of 52,126 to 3,359,302 ARBs by January 31 to incentivize new and existing users, to ensure long-term liquidity for Arbitrum and cross-chain white households that have not yet been exposed to Arbitrum; to work with existing protocols (GMX, Camelot, Dopex, and Plutus) to carry out collaborative programs to enrich liquidity pools, enhance lending options, and promote a sound options market; and to launch the Ethereum mainnet. Among them, the ARB airdrop plan (0 to 2,380,952 ARBs) for 6-12 months of dLP lock + incremental lending TVL, and the strategic ecosystem plan (52,126 to 978,349 ARBs).
6. The US government shutdown may lead to the suspension of SEC lawsuits and the postponement of the encryption bill
According to CoinDesk, a spokesperson for the U.S. Securities and Exchange Commission (SEC) said that if the U.S. government shuts down due to failure to pass a spending bill by the end of the month, the SEC will follow its shutdown plan and may suspend litigation unless the situation poses a threat to consumers' property, and will stop reviewing and approving applications for new products. In addition, the government shutdown may have an adverse impact on how the House of Representatives advances cryptocurrency bills awaiting a vote. If U.S. lawmakers fail to make a decision on government spending by September 30, bills focusing on cryptocurrency regulation, market structure, and stablecoins may all be shelved.
7. Celsius creditors vote to approve restructuring plan
According to The Block, most creditors affected by Celsius' bankruptcy voted to approve a reorganization plan with a support rate of more than 98%. Under the plan, the debtor will distribute about $2 billion worth of Bitcoin and Ethereum to creditors, as well as equity in a new company (NewCo). The plan has been supported by the Official Committee of Unsecured Creditors. The U.S. Bankruptcy Court for the Southern District of New York will hear the case at a hearing scheduled for October 2 and make a ruling on final approval. NewCo will inherit Celsius' business and be managed by Fahrenheit Group, which won the Celsius asset auction bid in May this year.
8. Binance reopens registration and access to products and services in Belgium
Binance tweeted that it has reopened registration and access to Binance products and services in Belgium. According to previous news, in June this year, the Belgian financial regulator ordered Binance to stop providing crypto trading and custodial wallet services to local customers on the grounds that the exchange violated local "anti-money laundering" and "anti-terrorist financing" requirements. In an announcement on August 28, Binance said it would continue to provide services to Belgian users through its Polish registered entity, Binance Poland sp. z o.o.
9. The US SEC opposes Celsius’ plan to distribute digital assets to customers through Coinbase
According to Walter Bloomberg, the U.S. Securities and Exchange Commission (SEC) has filed documents opposing the plan of the crypto company Celsius Network to distribute digital assets to customers through Coinbase. Celsius filed for bankruptcy more than a year ago and will seek approval from the bankruptcy court for its reorganization plan in the coming weeks. According to the reorganization plan proposed by Celsius, Coinbase will provide brokerage and master trading services to Celsius, and Coinbase's participation in the activities that triggered the regulator's lawsuit. According to court documents filed by the SEC in Celsius' Chapter 11 case last Friday, the lawsuit is still ongoing.
10. Stablecoin protocol Angle Protocol launches euro savings solution stEUR on Ethereum with an initial yield of 4%
Angle Protocol, a decentralized stablecoin protocol, announced the launch of stEUR on Ethereum, a euro savings solution backed by real assets in the protocol's reserves. Users can obtain stEUR and earn euro savings by staking agEUR in a smart contract on Ethereum. The initial yield is set at 4%, paid in agEUR, but will be updated regularly based on the utilization of the contract. In addition, stEUR has no upfront fees, no deposit or withdrawal fees, and no lock-up or minimum deposit requirements. The stEUR contract has been integrated by the Odos aggregation solution. stEUR's contract was audited by Code4rena.
