TLDR Index
TLDR Crypto

TLDR CRYPTO 2023-09-05

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01MARKETS & BUSINESS

BUSINESS

The London Stock Exchange Group has announced plans to launch a new digital markets business that will enable faster, cheaper, and more secure transactions by leveraging blockchain technology. This new platform will not be enabling the trading of cryptocurrencies - rather it will likely be tokenizing assets like stocks and bonds to allow ownership to be transferred on blockchain rails. This is yet another example of a bigger picture trend of real world asset tokenization that has been playing out over the course of the year.

decrypt.co2 min read

CRYPTO CASINO STAKE TARGETED IN REPORTED $40M EXPLOIT

Australian crypto casino and sportsbook, Stake, was hit with a $40m exploit involving insecure private keys. Cyvers reported that over $15m in ETH had been withdrawn from the wallet and another $25m was moved out across Polygon and Binance Smart Chain bridges. The exploit appears to be limited to just this wallet, and while a sizable sum was lost, it’s relatively small for Stake, which generated $2.2B in revenue in 2022.

coindesk.com2 min read

02INNOVATION & LAUNCHES

THE WILDCAT PROTOCOL: BANKING, BUT WORSE

This whitepaper introduces a novel protocol called Wildcat, aimed at addressing the issues with current undercollateralized lending protocols that include the choice of underlying assets, the interest rate methodology, and their usage of middlemen. With a wide range of unique features, it essentially aims to provide a more flexible lending protocol for market makers and the broader DeFi ecosystem.

github.com10 min read

THE SAFE{CORE} PROTOCOL

The Safe{Core} Protocol has introduced a new framework for smart accounts, aiming to reduce fragmentation, vendor lock-in, and security risks. The open-source protocol includes components such as modules, registries and accounts to facilitate interoperability, security, and portability. Development plans include introducing fee mechanisms, supporting more module types, and enabling cross-chain access.

github.com8 min read

03GUIDES & TUTORIALS

TRACKING SENTIMENT VIA LIQUIDITY POOLS

This article examines the recent volatility in crypto, using activity in liquidity pools to get a better understanding of what’s happening in the space. Liquidity has been drying up as the market has remained risk-off. This has been exacerbated before each major negative event the space has seen as large amounts of capital flowed out of liquidity pools before those events. The article goes on to interpret sentiment of the space based on these movements in liquidity.

insights.glassnode.com8 min read

04MISCELLANEOUS

FTX’S COLLAPSE

This thread is the second part in a story from the founder of a small crypto exchange that was acquired by FTX in 2021. It tells the story of the acquisition and explains how this acquisition ultimately played a big role in FTX’s demise. While there were many other issues that led to FTX’s undoing, this particular acquisition was what led to CZ of Binance holding a $2B stack of FTT tokens, which eventually became the last domino to fall in the implosion of FTX.

twitter.com5 min read

TARGETING BINANCE, COINBASE, AND TRUST WALLETS

A new malware called Infamous Chisel has been connected to Sandworm, a well-known Russian hacker group. This malware particularly targets mobile crypto wallets such as Binance, Coinbase, and Trust wallets as well as in-browser wallets like the Brave wallet and Opera Wallet. While it’s not clear whether this malware has led to any stolen funds, U.K.’s National Cyber Security Centre has confirmed that it is capable of extracting data from these applications.

cryptoslate.com1 min read