The Daily Index — Wednesday, August 7, 2024 · TLDR Index

MARKETS & BUSINESS

TLDR Crypto

TLDR Crypto

BITCOIN FALLS TO ‘EXTREME FEAR' ON AUG. 5 AS ETFS OUTFLOW $168M

The Crypto Fear & Greed Index dropped to an "Extreme Fear" level of 17 out of 100 on Monday, marking its lowest point since July 2022. U.S. spot Bitcoin ETFs saw major outflows totaling $168M, highlighting a sharp decline in market sentiment and investor confidence.

cointelegraph.com · 2 min

TLDR Crypto

A BREAKDOWN OF ARBITRUM'S SHORT-TERM INCENTIVE PROGRAM

Arbitrum's Short-Term Incentive Program (STIP) distributed 71M ARB to increase network activity, leading to $15.2M in sequencer revenue — 43% of total revenue during the period. However, with the program costing $85.2M, the $60M loss highlights the need for more efficient incentive strategies in the future.

threadreaderapp.com · 2 min

TLDR Crypto

INITIA ACQUIRES BLOCK EXPLORER CELATONE

Initia has acquired Celatone, a leading blockchain explorer from Alles Labs, to enhance its Initia Scan, which will now serve as the primary tool for navigating interwoven rollups. The acquisition adds 10 new team members to Initia Labs, focusing on expanding Initia Scan's dominance, integrations, and tooling.

threadreaderapp.com · 1 min

TLDR Crypto

HOW JAPAN'S INTEREST RATE MIGHT HAVE AFFECTED CRYPTO

A small 25 basis point interest rate hike by the Bank of Japan triggered a massive sell-off in risk assets, including a sharp drop in Ethereum, due to the unwinding of the carry trade. This trade, where investors borrow cheap Yen to invest in higher-yield assets, is now collapsing as higher interest rates strengthen the Yen, forcing traders to sell assets to cover their more expensive Yen-denominated loans, leading to a cascade of liquidations.

threadreaderapp.com · 4 min

TLDR Crypto

BLACKROCK, NASDAQ MAKE THE PUSH FOR OPTIONS ON SPOT ETHEREUM ETF

BlackRock and Nasdaq have submitted a proposal to the SEC to list and trade options for the iShares Eth Trust (BlackRock's spot Eth etf), aiming to provide investors with cost-effective tools for exposure and hedging related to eth.

theblock.co · 1 min

TLDR Crypto

RONIN BRIDGE HACKED AGAIN, WHITEHAT RETURNS FUNDS

The stolen ETH (~$10M) has been returned, with the USDC expected to follow later today, thanks to vigilant white hats who will receive a $500K bounty. The Ronin bridge will remain closed pending an audit, with plans to transition its operations to a new structure in collaboration with Ronin validators.

threadreaderapp.com · 1 min

TLDR Crypto

BITCOIN'S DIGITAL GILDED YEARS ARE A WAY OFF YET

Summary unavailable

bloomberg.com · 3 min

TLDR Crypto

TRUMP-THEMED MEMECOIN DJT RUG-PULLS

The Trump-themed $DJT token crashed by 90% after a wallet holding 20% of the supply suddenly dumped its holdings.

threadreaderapp.com · 1 min

TLDR Crypto

STARKNET CEO STEPS DOWN

Starknet Foundation CEO Diego Oliva has stepped down after leading the organization since March 2023, with James Strudwick taking over as Executive Director.

theblock.co · 1 min

TLDR Crypto

TRUMP AND LUMMIS HAVE PUSHED FOR US BITCOIN RESERVES BUT CRITICS EXPRESS DOUBTS

Sen. Cynthia Lummis and former President Donald Trump have proposed creating U.S. bitcoin reserves, arguing that it could act as a buffer against market fluctuations.

theblock.co · 3 min

TLDR Crypto

CRYPTO MARKET CRASH IN NUMBERS

The recent crypto market crash saw ~155K traders liquidated (~$573M in losses) and ~$300B wiped out from the crypto market cap.

threadreaderapp.com · 1 min