8/22/24: Ethereum Is Good šŸ‚šŸ¦…šŸ”

Top News

  1. Vitalik bull posts Ethereum, Crypto Twitter goes wild

  2. Rumors circulate of CZā€™s release from prison

  3. McDonaldā€™s Instagram hacked to promote memecoin scam

Specsā€™ Insights

1. Vitalik bull posts Ethereum, Crypto Twitter goes wild

āŒā—Ŗ-ā—Ŗ ā†’ Vitalik finally posted something bullish about Ethereum, and the market is loving itā€”well, except for Ethereumā€™s price, which remains relatively unphased.

While itā€™s just a picture of a bull holding a sign that says ā€œEthereum is good,ā€ it did way better than usual 10,000+ word blog posts.

Seriously though Crypto Twitter loved it ā€” now everybody is saying it, ā€œETHEREUM IS GOODā€. Even Justin Sun joined in on the fun, saying, ā€œI kind of like this bull.ā€

Youā€™ve gotta love Vitalik. While every other founder in the space hypes their chain weekly, Vitalikā€”the high-integrity intellectual that he isā€”instead chooses to tweet about ETHā€™s scaling issues, how to live forever, and his general philosophy on life.

Heā€™s already followed up with another proper bullish post, highlighting Ethereumā€™s various metrics and accomplishments, from lower tx fees, to cross-chain UX improvements, and how PoS is more decentralized than PoW.

Itā€™s starting to feel like a new Vitalik upon us ā€” one who likes to ratio influencers, shill his bag at any cost, and most importantly, FUD his competitors.

2. Rumors circulate that CZ has been released from prison

āŒā—Ŗ-ā—Ŗ ā†’ Rumors are circulating that CZ, Binanceā€™s former CEO, has been released from prison; however, Iā€™ve been unable to verify the story.

For context, CZ started serving a four-month prison sentence in June and was scheduled for release on September 29th, 2024.

These rumors are either completely fabricated or CZ may have been transferred to a more relaxed facility to finish the remaining 38 days of his sentence.

While this chapter may be closing for CZ, fresh legal troubles are on the horizonā€”more on that in yesterdayā€™s issue.

3. McDonaldā€™s Instagram hacked to shill memecoin scam

āŒā—Ŗ-ā—Ŗ ā†’ McDonaldā€™s Instagram got hacked yesterday to shill a scam coin called $Grimace, resulting in over $700k stolen.

The post was shared with McDonaldā€™s 5M Instagram followers and a senior employeeā€™s Twitter audienceā€”promising that McDonaldā€™s would follow anyone who holds $Grimace. Wow, such utility šŸ™„.

The hack stemmed from a social media breach of a senior McDonaldā€™s employee, allowing hackers to shill the $Grimace meme coin on Solana.

The hacker used multiple addresses to purchase roughly 75% of the token supply, then distributed them to roughly 100 wallets before dumping them for a quick $700k.

McDonaldā€™s has since regained control of the account, but crypto Twitter is having a field day with all sorts of fresh pasta.

If you love your community/audience/followers, please use non-SMS-based 2FA. Sincerely, a guy who loves his community.

Everything Else

ā›“ļø Crypto & DeFi

  • SunPump flips PumpFun in daily revenue

  • NEAR launches scalability measure once proposed by Vitalik

  • Optimism & Forbes launched SUNNYs award show for web3 builders

  • WazirX halts open orders after problems with Indian Rupee

šŸ¦ Wallstreet & VC

  • Franklin Templeton launches blockchain fund on Avalanche

  • Grayscale launched new investment trust for Avalancheā€™s AVAX token

  • Bitcoin ETFs inflows yesterday $40M, Ethereum ETFs -$18M

  • Bitcoin open interest rises to $1.3B post-Fed ā€˜dovish' minutes

  • Stork Network raises $4M seed funding for better product offerings

  • Zellic acquires smart contract audit platform Code4rena

šŸ›ļø Legal & Regulatory

  • FTX exec Salame seeks to overturn conviction, citing plea deal breach

  • NBA all-star Jimmy Butler and Ben 'BitBoy' settle Binance lawsuit

  • Coinbase and Ripple lead corporate political donations

  • Kamala Harris signals friendlier stance on crypto: Bloomberg

šŸŒŽ Rest of the World

  • Coinbase to enable 1:1 conversions between Euro and EURC

  • Binance CEO urges Nigerian government to free detained exec

  • Latin America's Mercado Libre announces stablecoin tied to US dollar

šŸ–¼ļø NFTs & Metaverse

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