Hong Kong and Taiwan are ready to open their arms to crypto companies fleeing SEC repression, hackers are cracking 12-word seed phrases and GRU/FSB wallets, and ChatGPT has been introduced to robot dogs. What’s going on here? Nothing special, just a Friday night on the crypto market. Let’s take a closer look.
Theme of the day
Remember yesterday’s story about 114 scam memcoins? This was not the limit. On-chain analysts have managed to find a wallet that has been running 2-5 scam memcoins EVERY DAY for the last two years. The scammer turned out to be a KuCoin user and the exchange confirmed this information, but so far refused to freeze the funds on the account.
You can learn more about what is happening on the crypto market on our website.
Results of yesterday
- KuCoin user created fraudulent memcoins for 2 years;
- Robo-dogs implemented ChatGPT;
- A user cracked a 12-word seed phrase in 25 minutes;
- The hacker exposed 986 FSB and GRU bitcoin wallets;
- Taiwan will open crypto operations for banks in September;
- Filecoin introduced Filecoin Web Services (FWS), a competitor to Google Cloud;
- Coinbase threatens SEC: “America will lose if you don’t back down.”
More events from the world of crypto in our TG channel. And if you’re looking for the fastest wild west news, then you here.
Market Compass
- General state of the market:
- Fear & Greed Index of Bitcoin:
- Total market capitalization:
- DeFi TVL:
- RIP:
Looking for a game changer
New projects on the horizon:
Disclaimer: The list below is compiled based on announcements and taking into account the lifespan of startups. Incrypted has no interest in these projects and does not test them for security or effectiveness. NFA and DYOR and may the Alpha be with you!
- Vertex — hybrid DEX on Arbitrum with combined margin between perpetual contracts and spot.
- OctoLSD — an aggregation and liquidity distribution protocol for LSD. Whatever that means.
- Fraczone — the first NFT marketplace with fractal property.
- Renkin — position themselves as an aggregator of NFT loans for professionals.
Airdrop Update
- ZkSync x Galxe: Quest;
- Rage Trade: Activities;
- ZKX Activities.
Track fresh freemints, testnets and raffles in the Airdrops section!
Current trends
- Hunting for drops: Taiko, zkSync Era, SUI, LayerZero and many others. Do it now so you don’t repeat the FOMO Arbitrum later.
- The market is a bit tired amid regulatory uncertainty in the US and not the most favorable macroeconomic factors.
- US regulators continue to put pressure on the crypto industry and face resistance. Coinbase has given a public response to the SEC notice.
Read in the evening
- Memelords: use smart money to earn money on memcoins.
IncryptOr
More crypto memes in our Instagram. Come in if your eyes hurt from the charts.