🏛 Coin Center Says Biden Administration ‘Criminalized’ Open Source Code

SANCTIONS The crypto industry’s fight back has begun. Coin Center, a non-profit advocacy organization representing the web3 industry in Washington D.C., sued the U.S. Treasury Department on Wednesday for sanctioning the smart contracts of decentralized crypto mixing protocol, Tornado Cash.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

DeFi Drama

🍣 SushiSwap’s Grey Rebuts Accusations Made ‘Without Any Substantial Evidence’

Jared Grey Lays Out Detailed Defense of His Record as He Takes Up Post at DEX

By Samuel Haig

RESPONSE Jared Grey has said his piece. And yes, he addressed the horse. In a detailed response published on Thursday, SushiSwap’s new head chef rejected the extraordinary allegations leveled against him this week and defended his record and reputation.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

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Crypto Fundraising

💰 Blockchain Indexing Startup nxyz Raises $40M In Funding Led By Paradigm

Aims To Tackle Web3’s ‘Biggest Pain Point’

By Aleksandar Gilbert

INDEXING It isn’t sexy. It isn’t a brand-new blockchain or a celebrity-backed NFT collection. But five-month-old crypto firm nxyz has lined up a host of prominent venture capital firms behind its promise of “fast, reliable blockchain indexing.”

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Exploits

🦹🏻‍♂️ Attacker Behind $116M Mango Markets Exploit Eyes $65M Bounty

In What May Be A New Record For DeFi, Mango Markets, Temple DAO and RabbySwap All Exploited On Oct. 11

By Tarang Khaitan

NEWS Mango Markets, a margin trading and lending platform on the Solana blockchain, was exploited to the tune of $116M on Oct. 11, the venture said on Twitter. The attacker managed to inflate the price of the platform’s native MNGO token and drain all the liquidity from the protocol, according to Joshua Lim, Head of Derivatives at Genesis Global Trading.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Opinion

🧐 Why MEV Matters and Other Post-Merge Revelations

PoS Ethereum Will Create Hidden Value But Block Construction is Vital

Guest writer Matt Cutler walks us through the many changes in Ethereum’s blockchain since the shift to Proof of Stake…

FUTURE The Merge was undoubtedly the most significant Web3 network upgrade to date, with implications that go beyond switching consensus mechanisms and reducing energy consumption. In fact, this upgrade was the first step towards a future in which your Ethereum wallet pays you to use it.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Shoutout

Coinspect is the information security company that’s been protecting crypto since 2014. Their team of experts conducts in-depth security audits of smart contracts, wallets, and blockchain systems.

DeFi Explainers

🤔 What Is Lido?

A Step-by-Step Guide to the Staking Powerhouse

By Rahul Nambiampurath

STAKING Proof of stake blockchains like Ethereum or Solana rely on economic staking instead of computational Proof of Work to execute transactions and secure the network. The problem is, staking makes funds illiquid when they are locked-in for this purpose.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Elsewhere

🔗 Laura Shin’s ‘The Cryptopians’ In The Works As Drama Series From ‘Dangerous Liaisons’ Producer Playground: Deadline

Crypto page-turner The Cryptopians, written by Laura Shin, is in the works for the small screen.

🔗 Arbitrum Builder Offchain Labs Buys Prysmatic Labs, a Core Team Behind Ethereum’s Merge: CoinDesk

Offchain Labs, the firm behind Ethereum layer 2 network Arbitrum, said it was acquiring Prysmatic Labs, one of the core engineering teams behind Ethereum’s transition to proof-of-stake.

🚋 On stage at #SolanaBreakpoint:@aeyakovenko @rajgokal @AcquiredFM @BrendanEich
Larisa Barbu @exchgART @0xLeoInRio @amiravalliani @vibhu

… and many, many more.

Don't get FOMO — get your ticket now! https://t.co/ieO0q3wmMQ pic.twitter.com/skGvJT8u1d

— Solana Breakpoint | 🚋 LISBON Nov. 4-7 (@SolanaConf) October 12, 2022

Trending in The Defiant

SushiSwap’s Grey Hit By Wild Allegations of ImproprietyLess than a week after SushiSwap sought to end a period of turmoil with the election of Jared Grey as head chef, the decentralized exchange was engulfed in controversy yet again as a series of extraordinary allegations were leveled at its new hire.
Curve DAO Votes To Enable Permissionless RewardsCurve Finance, a decentralized exchange (DEX) that is DeFi’s third-largest protocol with $6B locked in its smart contracts, has concluded a governance vote to allow any project to add token rewards to its factory-deployed gauges.
SEC Probing Yuga Labs’ Issuance of NFTs and Token: ReportYuga Labs Inc., the NFT juggernaut behind the Bored Ape Yacht Club and other splashy collections, is being investigated by the U.S. Securities and Exchange Commission, Bloomberg News reportedTuesday.

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.

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