Top crypto tweets of the day – June 13th

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• Risky business: Curve founder’s massive deposit in Aave sparks concerns for crypto ecosystem

  TL;DR Breakdown Curve’s founder deposits over 33% of CRV tokens into Aave, raising risks for both platforms. Concerns arise over the substantial collateral exposure and lack of deposit limits in Aave V2. Market downturns and shrinking liquidity intensify risks for Curve’s ecosystem and Aave. In a surprising turn of events, the founder of Curve.fi, a decentralized exchange protocol, has deposited over 33% of Curve’s circulating CRV tokens into the popular lending platform, Aave. This move has raised eyebrows among industry experts, posing potential risks to Curve’s ecosystem and Aave. According to reports, the founder took this drastic step after witnessing a 16% drop in the price of CRV tokens. By leveraging their currency, the founder aims to avoid selling at a lower price, seemingly as a hedge against further price depreciation. However, this strategy has its concerns. One of the primary worries stems from the fact that Curve’s founder has now deposited a staggering 290 million CRV tokens, equivalent to approximately $187 million, into Aave. In return, they have borrowed a substantial sum of $71 million in stablecoins. Such considerable…

  Article 2023年6月15日

• Dollar’s stunning decline sets off economic turmoil

  TL;DR Breakdown The US dollar experienced its worst week in eight months, fueling economic turmoil. The dollar’s weakness comes amid signs of cooling inflation, with producer and consumer prices dropping more than anticipated. This situation favors other currencies like Sterling, Yen, and the Swiss Franc, as well as Gold. On Wall Street, banks’ second-quarter results revealed a mixed picture, with JPMorgan’s net income surging, while Citigroup saw a significant slump. Description The Dollar’s recent tumble culminated in a tumultuous week, signaling potential economic disturbances as investors scaled back expectations of additional Federal Reserve interest rate hikes. The dollar, displaying resilience on Friday following a string of daily dips, nonetheless recorded its worst weekly performance in eight months. A troubled week for the dollar A 2.2% drop … Read more The Dollar’s recent tumble culminated in a tumultuous week, signaling potential economic disturbances as investors scaled back expectations of additional Federal Reserve interest rate hikes. The dollar, displaying resilience on Friday following a string of daily dips, nonetheless recorded its worst weekly performance in eight months. A troubled week for the…

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• BlackRock set to file Bitcoin ETF application in partnership with Coinbase

  TL;DR Breakdown BlackRock, the world’s largest asset manager, is close to filing an application for a Bitcoin ETF, in partnership with Coinbase Custody. The collaboration aims to provide secure storage and management of digital assets within the ETF, while incorporating Coinbase’s spot market data for accurate pricing. The Securities and Exchange Commission (SEC) has historically been cautious about approving spot Bitcoin ETFs, citing concerns about fraud and manipulation, but BlackRock’s application could potentially reshape the industry if approved. BlackRock, the world’s largest asset manager with $9 trillion in assets under its control, is on the verge of submitting an application for a Bitcoin exchange-traded fund (ETF), according to reports. However, this move by BlackRock marks a potential breakthrough in the cryptocurrency industry, as the company aims to provide institutional investors with a regulated avenue to access the digital asset market. BlackRock is planning to partner with Coinbase Custody, a leading cryptocurrency storage and management platform, to ensure the security and integrity of the digital assets held within the ETF. By leveraging Coinbase Custody’s technology, BlackRock aims to establish a robust…

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• Atomic Wallet users lose $35 million in crypto assets in security breach: Report

  TL;DR Breakdown Users of Atomic Wallet have lost over $35 million in cryptocurrency assets due to a major security breach. Atomic Wallet, a noncustodial-decentralized wallet, is investigating the attack but has provided little concrete information to its users. The hack joins a series of recent crypto breaches, raising concerns about the security of decentralized wallets. Atomic Wallet’s vulnerability and lack of liability for on-chain damages have come under scrutiny. Atomic Wallet has suffered losses totaling at least $35 million in cryptocurrency assets since June 2, according to an analysis conducted by renowned on-chain sleuth ZachXBT. Atomic Wallet boasts a user base of over 5 million individuals worldwide. The platform, which places the responsibility of asset storage on its users, is now facing intense scrutiny due to stolen tokens, erased transaction histories, and even entire crypto portfolios being pilfered. Concerned by the scale of the attack, ZachXBT, a pseudonymous Twitter user renowned for tracking stolen crypto funds and assisting hacked projects, expects the total losses to surpass $50 million potentially. Despite Atomic Wallet’s claims to be investigating the incident, victims have…

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• U.S. politics clash: Dems push for CBDC reign, GOP fears risks

  TL;DR Breakdown The U.S. House Financial Services Committee debated the CBDC Anti-Surveillance State Act, discussing the implications of a U.S. CBDC. The debate delved into broader topics, including Star Wars, anarchists, and “crypto bros.” Tom Emmer introduced the bill, warning against the government’s potential surveillance tool. Description The showdown on Capitol Hill over the future of digital currency in the U.S. has taken an intense turn. On one side, the Democrats argue that Central Bank Digital Currencies (CBDCs) could bolster the nation’s financial leadership. The GOP, however, fears potential infringements on the rights and privacy of Americans. From Star Wars to Financial … Read more The showdown on Capitol Hill over the future of digital currency in the U.S. has taken an intense turn. On one side, the Democrats argue that Central Bank Digital Currencies (CBDCs) could bolster the nation’s financial leadership. The GOP, however, fears potential infringements on the rights and privacy of Americans. From Star Wars to Financial Oversight The U.S. House Financial Services Committee recently tackled the contentious CBDC Anti-Surveillance State Act. Instead of a routine discussion,…

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