🇺🇸 Hacker Steals $20M From U.S. Government

GM Defiers!

One of the U.S. government’s Ethereum wallets appears to have been compromised for $20 million. The funds were moved to little-known exchanges shortly after being transferred from the U.S. government’s address.

Truth Terminal, the popular AI agent, continues to attract controversy after a wallet was identified accumulating RUSSELL right before the asset was promoted by Truth Terminal’s Twitter account. The incident was attributed to X users spamming the word RUSSELL at the agent.

Lido DAO greenlit a new staking module enabling permissionless validator deployment. Users can launch a validator with a bond of just 2.4 ETH, down from 32 ETH.

Markets traded sideways after a volatile week, with BTC trading around $68,000. ETH, SOL, and DOT were relatively unchanged.

Also, Bitcoin whales proliferate, Kraken to launch Layer 2, Pudgy Toys roll out across Walgreens, and Microsoft pushes back against Bitcoin investment proposal.

✍️ In today’s newsletter:

Hacker takes $20M from U.S. govt wallet
Twitter degens manipulate Truth Terminal
Lido readies to launch permissionless staking
Bitcoin ETF demand hits 6-month high
Kraken unveils Ink Layer 2
Bitcoin whales hold 10% of BTC
Pudgy Toys expand across U.S. retailers
Microsoft tells shareholders to reject BTC buy proposal

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🦹🏻U.S Government Hacked For $20M

The U.S. government appears to have lost $20 million from a compromised Ethereum wallet. Arkham, an on-chain intelligence platform, flagged that the assets were transferred from the government-linked wallet, some of which were then moved onto obscure exchanges. The suspected hacker still holds $13.2 million worth of the funds in question.

🤖Mysterious Wallet Frontruns Truth Terminal’s Memecoin Shill

Truth Terminal, the AI agent backed by Marc Andreessen, continues to garner controversy after a wallet accumulated RUSSELL shortly before the asset was promoted by Truth Terminal. Analysts attributed the incident to cunning Twitter users spamming the agent with the word RUSSELL. “The word Russell was spammed in its mentions and it picked it up,” said Truth Terminal’s creator.

📈Crypto Markets Trade Sideways as ETF Demand Hits Six-Month High

Markets are relatively calm on Friday after increased flows into spot Bitcoin ETFs translated into a volatile week for the broader cryptocurrency market. U.S. spot Bitcoin ETF demand hit a 6-month high, with net flows totalling 64,962 BTC or $4.4 billion in the past 30 days.

🚦Lido Greenlights Permissionless Ethereum Staking With 2.4 ETH Collateral

Lido will soon launch its Community Staking Module, facilitating permissionless validator deployments. Users will also be able to begin validating Ethereum with just 2.4 ETH ($6,070), down from 32 ETH ($81,000).

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🐋Bitcoin Whales’ Holdings Have Surged 800% This Year

The number of on-chain wallets holding more than 1,000 Bitcoin is at its highest level since 2021. The addresses control 1.97 million BTC after their balances grew 813% year-to-date, equating to nearly 10% of Bitcoin’s circulating supply.

🦑Crypto Exchange Kraken Plans to Launch an Ethereum Layer 2 Called Ink

Ethereum’s Layer 2 ecosystem continues to proliferate, with Kraken, a prominent U.S.-based centralized exchange, announcing it is building an L2. The upcoming network, Ink, leverages Optimism’s OP Stack and will join its Superchain ecosystem.

🐧Pudgy Toys Launch in 2,000 U.S. Walgreens Stores

Pudgy Penguins toys are now available in 2,000 Walgreens stores across the United States. The toys are already available in Walmart, Target, and Amazon.

🗳️Microsoft Pushes Back Against Proposed Bitcoin Treasury Allocation

Microsoft is urging shareholders to vote against a proposal for the company to explore investing in Bitcoin to hedge against inflation at the company’s upcoming annual shareholder meeting. The measure was proposed by the National Center for Public Policy Research, a conservative think tank and Bitcoin proponent.

🌍 ELSEWHERE

Pennsylvania House passes bipartisan bill to bring regulatory clarity to digital assets (Fox Business)
Solana Meme Coin Sharpei Plunges 96% in Seconds in Epic Rug Pull (Decrypt)
Dutch tax authority seeks feedback on draft bill for crypto firms to report user data (The Block)
Why It’s Critical for the US to Pursue a Pro-Innovation Approach to Software Regulation (Unchained)