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π Tether Flowing into Exchanges, $1 Billion Cryptos AUM by Grayscale, 100s Millions in Daily Flash Laonsππ
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Hello Geckos!
PSA alert! If you've ever purchased Ledger hardwallet from the official shop before (you should always purchase hardwallets from manufacturers btw), your personal data may be at risk!
In an email on July 29, the company said it was made aware of the breach on July 14 when a researcher participating in its bounty program reached out with details of a potential vulnerability on their website.
Sadly, the breach was already exploited as far back as June 25th. Affecting up to 1 million email addresses as well as compromising close to 9,500 personal first and last name and postal address. Yikes!
In other news on the DeFi front, what do you call a DAO that is governed by other DAOs? DAOception..... (editor: booooo! get off the comedian stage!)
While technically not a DAO-made-of-DAOs, the Synthethix Foundation - which oversees the Synthetix Protocol, has been decommissioned. 3 other DAOs will take over the helm of the DeFi platform: protocolDAO - oversees development and security of the protocol grantsDAO - determines grants funding and other incentivisation initiatives synthetixDAO - handles overall funding and other project needs
We recommend you read the detailed blog post if you are interested in Synthetix or hold any Synth Assets. Other than that, we will talk about Grayscale's massive crypto AUM, USDT tsunami, and Flash Loans.
We hope that the CoinGecko Newsletter serves you well today!
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| | Dial in on CoinGecko's new Podcast Episode, featuring Ivan Golovko!In this episode, Bobby Ong is joined by Ivan Golovko, Chief Marketing Officer at LTO Network where they talked about the LTO Network Token, fee burn mechanism proposal as well as the staking program for LTO Network. Bobby and Ivan also shared their thoughts on DeFi and Yield-farming. Listen In | Google | Youtube | Apple | Spotify
| | Tether Inflow Into Exchanges Reaches 8-month HighData from Glassnode suggest that as many as $26 Million USDT may have flowed into exchanges.
The influx correlates with this ongoing hype and rally surrounding crypto and attention comes back to the space.
The last time such a surge happened, bitcoin (BTC) rallied from $7,500 to $10,000 in a few hours, though the price tapers off in the ensuing economic and health crisis. (Editor: Will it be different this time round?) CryptoPotato
| | Grayscale's Crypto Fund Sees $1 billion In Assets Under ManagementGrayscale has managed to grow its asset under management (AUM) by $1 billion in 11 days. This brings their total AUM to $5.1 billion, most of which is held in their bitcoin and Ether (ETH) trusts. Other cryptocurrencies held by the funds include Bitcoin Cash (BCH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC) Cointelegraph
| | Aave Issues More Than $130 Million In Flash Loans DailyAave (LEND) now issues more than $130 million in flash loans on a daily basis. Just on Monday, the platform issued $138 million worth of flash loans, an all-time high. With flash loans, borrowers are allowed to take sizable loans without collateral, as long as they are able to return the loaned sum in a single smart contract transaction.
Flash loans are typically taken by DeFi superusers to execute arbitrage or yield farming moves on various DeFi Platforms. (Editor: Ever taken a flash loan before?) Decrypt | | | This 3x Cobo Vault Could be yours!
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| Do Your Own Research (DYOR)A non-crypto slang that is often used in the crypto community when investors were frequently getting scammed by illegitimate ICO projects. DYOR was used to remind investors that they are responsible for their own investment decisions. Learn about other Crypto terms here | | | |
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