TLDR Index
TLDR Crypto

TLDR CRYPTO 2024-08-05

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01MARKETS & BUSINESS

CFTC SUBPOENAS BEN ‘BITBOY' ARMSTRONG'S FORMER COMPANY IN FRAUD INVESTIGATION

The CFTC has subpoenaed Hit Network, a crypto-focused media company that previously had Ben 'BitBoy' Armstrong as its public face. It has requested information about trading activity and wallets associated with 15 tokens featured in the company's media content, some that were in videos speculating about 100x returns. Armstrong, who was forcibly removed from the company after legal issues, "could not be more happy about" the subpoena.

theblock.co3 min read

JUMP CRYPTO MOVES HUNDREDS OF MILLIONS IN CRYPTO AS PRICES SLIDE

Jump Crypto has been actively liquidating its crypto holdings since July 25th, including hundreds of millions of dollars in stEth. This coincides with the recent launch of US-based spot ether ETFs and a broader downturn in crypto asset prices.

theblock.co2 min read

02INNOVATION & LAUNCHES

A NEW INTERNATIONAL MONEY: ORE V2

ORE is a Solana-based token that uses a CPU-friendly proof-of-work mining mechanism. Its v2 update will introduce ORE staking to boost mining rewards and change the algorithm so that mobile phones can mine. With a total supply of 21 million, Ore is similar to Bitcoin and could ultimately become the BTC of Solana if its high early inflation does not hinder adoption.

threadreaderapp.com2 min read

INTRODUCING LAVA PUBLIC MAINNET

Lava is creating a modular and decentralized RPC infrastructure layer for all blockchains. RPC providers can stake LAVA on a Cosmos-based chain and earn incentives from any chains they support. The LAVA token is launching DEX-first with high float and a market-derived FDV, contrary to the "low float, high FDV" meta.

threadreaderapp.com2 min read

03GUIDES & TUTORIALS

EXPLORING AI X CRYPTO

AI x Crypto primarily focuses on decentralized compute networks, model coordination platforms, AI tools and services, and applications. AI agents are becoming an increasingly popular way to seamlessly interact with onchain protocols and open-source AI coordination is fostering greater innovation and development into model training. Over $230 million was invested in the space in July alone.

threadreaderapp.com3 min read

AVOIDING TOKEN RUG PULLS

Scammers manipulate DEX Screener's Trending tokens by using wash trading to inflate the number of holders and trading volume, which makes these tokens seem legitimate. For example, the $FWILLY token scam involved distributing supply across multiple wallets and manipulating transaction data before ultimately rugging token holders, where the developers withdrew all liquidity, leaving holders with worthless tokens.

threadreaderapp.com2 min read

04MISCELLANEOUS

A DEEP DIVE INTO POLYMARKET GROWTH

While a large portion of Polymarket's growth this year can be attributed to the U.S. election, the platform has also seen an increase in non-election-related trading. Although 42% of new users initially traded in election-related markets, there has been a 391% YTD growth in volume across various other markets, indicating consumer interest beyond political events.

threadreaderapp.com7 min read