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💰 Fantom Wallet Breach, BlackRock's Crypto Buzz & SBF Trial Continues

Midas Crypto - October 17

Author

Mike Gavela
October 17, 2023

Crypto Roundup - Oct 17

In a whirlwind of events in the crypto space, the Fantom Foundation announces a distressing theft of $550,000 from one of its wallets amidst concerns of potential zero-day exploits. Meanwhile, the intriguing trial of Sam Bankman-Fried takes a fascinating turn as the defense team unravels the narrative surrounding witness Nishad Singh's involvement in a campaign finance scheme. While the legal drama unfolds, the global appetite for crypto sees no bounds. BlackRock's CEO, Larry Fink, voices the mounting demand from clients across the globe for cryptocurrency opportunities, even as major world events influence the surging market prices.

Top Stories:

  • Fantom Wallet Breach: $550,000 stolen in a potentially zero-day related attack.

  • Bankman-Fried Trial: Defense challenges Nishad Singh's narrative on unauthorized political donations.

  • BlackRock's Crypto Interest: CEO Larry Fink reveals the rising worldwide client demand for cryptocurrencies.

Fantom Foundation confirms $550,000 stolen from one of its wallets

Fantom Foundation said it suffered losses totaling $550,000, and that one of its employees was also hacked.

www.dlnews.com/articles/defi/fantom-foundation-employee-suffers-targeted-hack

Sam Bankman-Fried scores rare victory in Singh cross-examination

SBF LIVE: Lead defense attorney Mark Cohen pressed Nishad Singh on his political donations — funds that originated from Alameda.

blockworks.co/news/sam-bankman-fried-defense-shaping-up

BlackRock CEO Larry Fink Seeing Client Demand for Crypto 'Around The World'

Rumors about spot bitcoin ETF approvals aside, Fink called the recent rally a “flight to quality.”.

www.coindesk.com/business/2023/10/17/blackrock-ceo-larry-fink-seeing-client-demand-for-crypto-around-the-world

Reddit-Based Tokens Plunge on Report of Wind Down of Community Points

MOON, BRICK and DONUT tokens prices are each lower by 60%-90%.

www.coindesk.com/markets/2023/10/17/reddit-based-tokens-plunge-on-report-of-wind-down-of-community-points

Reddit plans to sunset its blockchain-based reward service Community Points

The decision was due to difficulty scaling and a tough regulatory environment for cryptocurrency projects.

www.theblock.co/post/258016/reddit-plans-to-sunset-its-blockchain-based-reward-service-community-points

FTX agreed to pay Riot Games nearly $100 million, while Tomorrowland and Coachella also had big deals: SBF trial evidence

More details emerge about the dozens of FTX sponsorship deals including how much and for how long the agreements were meant to last.

www.theblock.co/post/258007/ftx-agreed-to-pay-riot-games-nearly-100-million-while-tomorrowland-and-coachella-also-had-big-deals-sbf-trial-evidence

Why Binance, Coinbase, Ripple and Other Crypto Firms Cite the ‘Major Questions’ Doctrine During Legal Imbroglios

A controversial legal doctrine meant to curb overzealous regulators has become the pièce de résistance in several of the crypto industry's arguments against SEC encroachment.

www.coindesk.com/consensus-magazine/2023/10/17/why-binance-coinbase-ripple-and-other-crypto-firms-cite-the-major-questions-doctrine-during-legal-imbroglios

Binance users pull more than $500m in October amid regulatory woes

Binance users are pulling hundreds of millions off of the platform as regulatory concerns persist.

www.dlnews.com/articles/markets/binance-users-pull-over-half-a-billion-amid-regulatory-woes

Australian government poised to regulate crypto exchanges like financial firms

The Australian Treasury is making good on hints that it would bring crypto exchanges under the thumb of regulators in the wake of the FTX crash.

www.dlnews.com/articles/regulation/australia-may-regulate-crypto-like-other-financial-services

Arbitrum DAO gives Lido the cold shoulder

The biggest Arbitrum grant winners were network stalwarts like GMX and Camelot. Surprisingly, Lido didn't make the cut.

www.dlnews.com/articles/defi/arbitrum-dao-gives-lido-the-cold-shoulder