🎯SEC Targets Robinhood Amid Crypto Crackdown
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Robinhood, the popular brokerage application, is the latest company to find itself in the SEC’s crosshairs amid the agency’s campaign against crypto. On May 4, the SEC issued a Wells Notice — which precedes a formal regulatory action — to the company.
LayerZero, a popular cross-chain interoperability protocol, has announced plans to weed out and exclude sybil farmers from its nearly 6 million users ahead of its forthcoming airdrop. The protocol issued an ultimatum offering for Sybil farmers who out themselves to retain 15% of their intended airdrop allocation.
On May 5, the Bitcoin network surpassed 1 billion in all-time on-chain transactions. The move follows a sharp uptick in activity driven by the launch of the Runes protocol.
Fidelity, the multi-trillion asset manager, said pension funds are beginning to consider allocations to crypto assets. Fidelity is a leading ETF issuer, however, ETFs have suffered significant outflows in recent weeks.
Plus, a cryptocurrency whale suffered a $69 million loss after approving a fake transaction worth 1,155 Wrapped Bitcoin.
✍️ In today’s newsletter:
- LayerZero Labs launches offensive against sybil farmers
- Bitcoin’s transaction count pushes above 1B
- Fidelity says pension funds are preparing to enter crypto
- Whale loses $69M to poisoned transaction attack
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📈 Markets in the last 24 hrs:
| Ticker | Value | 24h |
|---|---|---|
| Bitcoin | $59,3091.74 | |
| Ethereum | $2,994 0.62 | |
| Gold 1st Future | $2,299 | -0.03 % |
| S&P 500 | 5064.20 0.91 | |
| Arch Web | 32.00 1.80 | |
| Learn more about Arch Indices |
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⚖️Robinhood Receives Wells Notice From SEC
The SEC has taken aim at Robinhood, the popular trading application, by issuing a Wells Notice to the company. While the move follows a flurry of moves from the SEC targeting the crypto sector, Robinhood vowed to fight any accusations of wrongdoing.
🎭LayerZero Tells Sybil Farmers To Out Themselves Or Face Airdrop Exclusion
LayerZero said it would launch an internal investigation followed by a bug bounty program intended to identify and exclude sybil farmers from its upcoming airdrop. Sybil farmers also have two weeks to out themselves and retain 15% of their airdrop allocation, or risk losing it all if they are identified.
🎉Bitcoin Network Surpasses One Billion On-Chain Transactions
The Bitcoin network has surpassed one billion in lifetime transactions following a surge in activity driven by the launch of the Runes protocol. However, Bitcoin took three times as long to process one billion transactions, with Ethereum taking roughly a third as long to surpass the same milestone in early 2021.
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👨🦯Fidelity Reveals Pension Funds Are Exploring Crypto
Fidelity, the multi-trillion asset manager and Bitcoin ETF issuer, said that conversations between pension funds and their investment committees are underway. Fidelity’s FBTC exchange-traded fund is the third largest Bitcoin ETF with $9.1 billion worth of assets under management.
☠️Poisoned Wallet Address Loses $70 Million in ‘Very Suspicious’ WBTC Transaction
A Bitcoin whale fell victim to a poisoned transaction attack, resulting in a loss of $69 million. The incident serves as a warning against crypto users carelessly trusting their computer’s clipboard when transacting on-chain. “Don't trust Clipboard,” said Officer, a pseudonymous cryptocurrency security researcher. “Check all digits one by one and add hot addresses to the allow list.”
🌍 ELSEWHERE
- Crypto lawyers say SEC is 'abusing' the Wells process as part of 'carpet bombing campaign' against crypto (The Block)
- Bitfinex CTO dismisses rumors of major database breach, suggests misinformation by hackers (CryptoSlate)
- DOGE Skyrockets After Tesla Adds Dogecoin аs Payment Method (CryptoPotato)
🔥 TRENDING
- Base Unveils Second Onchain Summer Hackathon
- EigenLayer Withdrawals Accelerate After Airdrop Backlash
- Aave Proposes V4 Iteration With Cross-Chain-Liquidity Layer
- Crypto Markets Dive Ahead of Fed Meeting
- Witness Chain Soars Past $5B In Delegated ETH Amid Polygon DePIN Push
- SynFutures v3 Overtakes Uniswap and dYdX By Daily Volume
- Binance Founder Changpeng Zhao Gets 4-Month Prison Sentence
- Crypto Markets Bleed on Underwhelming Hong Kong ETF Flows
- Coinbase Rolls Out Bitcoin’s Lightning Network
- Kamino Finance Debuts Token With 70% Drop In Price
- EIGEN Airdrop Elicits Pushback From EigenLayer Community
- Harris and Trotter Digital Assets Raises $10 Million in Series A Round Led by Orbs
- 0xMaki Proposes Ordinals-Inspired 'Heroglyphs' To Incentivize Solo Stakers
- Moonbirds Soar as Yuga Labs Looks to Restore NFT Holders’ IP Rights
- Holograph Brings Total Funding to $11M with Strategic Round Led By Mechanism and Selini Capital to Advance Omnichain Gaming
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