TLDR Crypto Daily Update 2022-09-20

LUNA founder "on the run" πŸƒ, Coinbase's new fees πŸ’Έ, ETH's post-Merge drop πŸ“‰

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Markets & Business

Coinbase exchange new fee schedule (1 minute read)

This Twitter thread contains a table showing Coinbase exchange's new fee schedule. Tiers with less than $15 million remain unchanged.

Why Ethereum is Dropping After the Merge (4 minute read)

Ethereum's price dropped to its lowest point since July after it successfully transitioned to Proof-of-Stake. The Merge was intended to lower the blockchain's energy consumption and increase security, so anyone hoping that Ethereum would run differently after the Merge would have been disappointed. Crypto prices have been falling ever since the Federal Reserve announced its intention to raise interest rates to combat inflation. Regulators are still debating whether Ethereum is a security.
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Innovation & Launches

Treasury Recommends Exploring Creation of a Digital Dollar (3 minute read)

The US Treasury recommends that the US start working on a central bank digital currency. 105 countries representing more than 95% of global gross domestic product are already exploring or have created a CBDC. A CBDC would be the direct liability of the Federal Reserve. The Treasury takes a positive view of CBDCs while acknowledging the risks of their development.

Yes to ENS & yes to cbβ€€id (1 minute read)

Coinbase has partnered with the Ethereum Name Service to create cb.id usernames. cb.id usernames are free to claim. They are now available on the Coinbase Wallet extension.
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Guides & Resources

Really short thread on @SBF_FTX bailout of BlockFi (2 minute read)

BlockFi had a real risk of being insolvent and faced a bank run back in June. None of the bailout offers it received wanted to be subordinate to client deposits, except the one from Sam Bankman-Fried. BlockFi had no choice but to take the proposal. Without the bailout, there would have been further contagion and the SEC would have gotten involved.

Market & Economic Structure of Games (8 minute read)

This article discusses different market structures in games and how they affect the gameplay experience. Market structures define what's possible for players. Different types of players have different needs, and developers need to create experiences that can cater to these users. web3 games need to balance real consumer spend against short-term speculation revenue.
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Miscellaneous

How crypto billionaire Sam Bankman-Fried survived the market wreckage and still expanded his empire (8 minute read)

FTX has been buying up companies while other multi-billion-dollar crypto giants have spiraled into bankruptcy. Its CEO, Sam Bankman-Fried, has been helping the industry get through the crypto winter by extending lines of credit and purchasing companies. Many of its deals were completed in a matter of days. Some people have compared Bankman-Fried's moves with Warren Buffet's strategy in 2008 where he stopped the bleeding during the financial crisis with a $5 billion investment in Goldman Sachs. Bankman-Fried has pledged to donate a majority of his wealth to charity.

South Korean prosecutors say Do Kwon β€˜obviously on the run’, ask Interpol to issue red notice (3 minute read)

South Korean prosecutors have asked Interpol to issue a red notice against Terraform Labs' co-founder Do Kwon. A red notice is a call to law enforcement worldwide. It can prevent individuals from being issued visas and traveling and result in them being arrested. The prosecutors say they have circumstantial evidence that Kwon is attempting to escape. Kwon claims that he is not on the run and that he has nothing to hide.

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Quick Links

Crypto Exchange WazirX to Delist USDC in Boost for Binance's Stablecoin (2 minute read)

Indian crypto exchange WazirX is delisting USDC, USDP, and TUSD on September 26.

EthereumPOW Sees 'Replay' Exploit for 200 ETHW Days After Rocky Start (3 minute read)

The attack exploited a vulnerability in a smart contract and not the ETHPoW blockchain itself.

The Rari Fuse Hack Payment has passed on-chain to FULLY pay the victims in 24 hours (2 minute read)

DAOs should decide on their policies regarding hacks before they happen.

DeFi Trader Nets Over $500K by Using DEX GMX to Manipulate Avalanche Token (4 minute read)

The trader bought a large number of AVAX tokens on GMX with zero slippage, driving up prices on centralized exchanges and netting them up to $700,000 in profits.

Eth.link Restored After Ethereum Name Service Wins Injunction Against GoDaddy (3 minute read)

True Names Ltd sued GoDaddy in September, alleging that GoDaddy had incorrectly told eth.link users that the address registration had expired and that the company sold the rights to the domain before it was supposed to be available for repurchase.

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