TLDR Crypto Daily Update 2022-11-16

USDC on Apple Pay 📱, US banks test digital dollar 🪙, long term view on web3 📈

📈
Markets & Business

Uniswap Overtakes Coinbase as Second-Largest Exchange Trading Ethereum Today (2 minute read)

Traders are flocking to decentralized exchanges after FTX's collapse. DEXs allow customers to trade crypto while retaining full control over their funds. Many DEXs recently posted an overnight doubling in trade volumes. Uniswap is now the world's second-largest venue for trading Ethereum. Binance continues to lead the category.

Solana DeFi Sees Almost $700M in Value Wiped Out on FTX Fallout (2 minute read)

Solana applications stored more than $10 billion on the network at its peak last November. The network's total value locked has since dropped to just over $300 million. More than $700 million has exited the ecosystem since the beginning of this month. FTX's collapse resulted in falling sentiment towards Solana as Sam Bankman-Fried heavily endorsed the network.
🚀
Innovation & Launches

US Banks Launch a Digital Dollar Blockchain Pilot (3 minute read)

A group of US banking institutions has launched a proof-of-concept digital money platform called the Regulated Liability Network. The platform will use blockchain technology to create opportunities to improve financial settlements. RLN will run for 12 weeks and only operate in US dollars. The project includes a regulatory framework aligned with existing regulations.

Circle Adds Support for Apple Pay (2 minute read)

Circle is extending its support for Apple Pay. Customers are now able to buy cryptocurrencies using Apple Pay on their preferred exchanges. The integration will be beneficial for crypto-native businesses. Circle plans to bring in more payment options to make cryptocurrency payment acceptance easier.
💡
Guides & Resources

Taking A Long Term View Of Web3 (5 minute read)

This article takes a long-term view of web3 as a sector. It looks at web3's future as well as its past. web3 is a software-driven innovation that has a built-in financial system. While the technology has enabled developers and users to contribute to open-source protocols and economically benefit from doing so, its boom/bust cycles have created a view that web3 is simply a speculative endeavor.

1inch seeks to optimize gas costs with its new v5 router (2 minute read)

1inch has released Router v5, a router that makes swaps approximately 5% more gas efficient than in the previous version. Router v4 was released almost a year ago. Router v5 features new interaction logic, pre-/post- interactions, and an improved smart contract error processing system. It has been audited by almost a dozen firms.
🦄
Miscellaneous

What happened at Alameda Research (21 minute read)

This article takes an in-depth look at what happened at Alameda Research and how three people burned over $20 billion dollars of fund profits and FTX user deposits. Alameda and FTX lost a large amount of money throughout 2021-2022 due to excessive spending, illiquid venture investments, bad strategy, risky lending practices, lackluster internal accounting, and general deficiencies in overall organizational ability. When loans were recalled in 2022, they were paid back using FTX users' deposits.

The Curious Case of FTX’s ‘Company Therapist’ (7 minute read)

George Lerner worked for FTX as an in-residence coach. He focused on the well-being of employees, counseling them on their careers and personal lives and even prescribing medication. Lerner at times sought out potential dating options for company employees. This article explores Lerner's role at FTX and the various problems he helped employees deal with at the company.

Keep Up With Crypto in Just 5 Minutes

Kepp Up With Crypto in Just 5 Minutes

Cut through the noise with our daily newsletter, get links and summaries of the newest innovations, tools, and launches in the crypto ecosystem

Join 120,000 readers for one daily email
Quick Links

FTX Founder Sam Bankman-Fried Attempts to Raise Fresh Cash Despite Bankruptcy (3 minute read)

Sam Bankman-Fried and a few remaining employees have been unsuccessfully trying to get commitments from investors to plug up FTX's $8 billion shortfall.

FTX Hacker Panicked, Still Holds $339M in Ether, Cryptos (3 minute read)

The hacker appeared to panic and lost a large amount of their token holdings when they moved assets across different chains to avoid getting caught.

Three Arrows Capital’s Su Zhu Claims FTX Leaked Their Trading Positions (3 minute read)

FTX allegedly leaked Three Arrow Capital's trading positions, which could have played a part in the hedge fund's downfall.

The Definitive Thread on FTX (10 minute read)

Every major decision FTX has made is related to acquiring more leverage, occasionally through deceptive means.

BlockFi Is Getting Ready for Potential Bankruptcy (2 minute read)

BlockFi has halted withdrawals and informed users that it is limiting platform activity.

Serum’s SRM Tokens Double in Price After Emergency Fork in Wake of FTX Hack (3 minute read)

The community forked the project after warnings that security may have been compromised during the FTX hack.

Keep Up With Crypto in Just 5 Minutes

Kepp Up With Crypto in Just 5 Minutes

Cut through the noise with our daily newsletter, get links and summaries of the newest innovations, tools, and launches in the crypto ecosystem

Join 120,000 readers for one daily email
Links
Sponsor
About
Contact
Privacy
Terms 
Disclaimer
TLDR Media, LLC
515 W 18th St. Unit 621
New York, NY, 10011
TLDR Media, LLC
515 W 18th St. Unit 621
New York, NY, 10011