Planet Daily | Sam Altman still works at Worldcoin development company; dYdX loses $9 million insurance fund due to YFI price manipulation (11.20)

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1 year ago

Planet Daily | Sam Altman still serves at Worldcoin development company; dYdX loses $9 million insurance fund due to YFI price manipulation (11.20)

Headlines

Sam Altman still serves at Worldcoin development company, return to OpenAI still under negotiation

Odaily Planet Daily News: Former OpenAI CEO Sam Altman still holds a position at Tools for Humanity, a development company under Worldcoin, and negotiations for his return to OpenAI are still ongoing.
The Tools for Humanity website lists Sam Altman as the co-founder and chairman of the project, and a spokesperson confirmed that the website still accurately reflects his position.
News of Altman's dismissal briefly caused a drop in Worldcoin's WLD token, but the price has since risen to nearly $2.50. (The Block)

Justin Sun leaves message on Poloniex attacker's chain: "We have confirmed your identity, willing to provide $10 million white hat bounty"

Odaily Planet Daily News: Justin Sun left a message on the Poloniex attacker's chain: "We have confirmed your identity, and the police from China, the United States, and Russia have already intervened. All stolen funds have been marked and tracked, and cannot be used. The counterparties will be frozen. If you return the funds by November 25, 2023, we will provide a $10 million white hat bounty. If not returned by then, police forces from multiple countries will take action."
An address named jesuswasdead.eth left a message to Justin Sun: "The attacker is from Poland, not Russia."

dYdX: About $9 million from dYdX v3 insurance fund used to fill YFI market liquidation gap, remaining funds at $13.5 million

Odaily Planet Daily News: The official dYdX statement on X platform indicated that about $9 million from the dYdX v3 insurance fund was used to fill the gap in the YFI market liquidation. The v3 insurance fund still has sufficient funds, with remaining funds at $13.5 million. No user funds were affected, and the team is actively investigating the incident.
Currently, dYdX has banned high-profit trading strategies and increased the initial margin requirements for markets with poor liquidity, including EOS, ZRX, AAVE, ALGO, ICP, XMR, XTZ, ZEC, SUSHI, RUNE, SNX, ENJ, 1INCH, CELO, YFI, UMA, and SUSHI.

CZ: Investors and founders are not always aligned

Odaily Planet Daily News: Binance CEO CZ stated on X platform that investors and founders are not always aligned. Don't let anyone tell you otherwise. Fair to say, no two people can always be 100% aligned. I am both a founder and an investor. Knowing when to release control of the company you founded is one of the trickiest decisions.

Industry News

Fidelity submits application for spot Ethereum ETF

Odaily Planet Daily News: Bloomberg analyst James Seyffart stated on X platform that Fidelity has submitted a 19b-4 filing for a spot Ethereum ETF, becoming the seventh applicant for a spot Ethereum ETF.

SEC delays decision on Global X spot Bitcoin ETF

Odaily Planet Daily News: The U.S. Securities and Exchange Commission (SEC) stated that the approval for Global X's spot Bitcoin ETF on the Cboe exchange will be postponed until at least December 22.
The SEC has set a comment period for the Global X Bitcoin Trust, which was submitted in collaboration with the Cboe BZX exchange, lasting until the end of December. According to a news release from the SEC on Friday afternoon, it hopes to receive public comments on the proposal within the next 35 days, setting a new deadline for December 22.
Bloomberg ETF analyst James Seyffert posted on X today that this delay was expected.

SEC delays decision time for Franklin Templeton's spot Bitcoin ETF

Odaily Planet Daily News: The SEC has extended the original 45-day deadline for the decision on Franklin Templeton's spot Bitcoin ETF, postponing the decision time until next year.
Bloomberg ETF analyst James Seyffert posted on X today that this delay was expected.

HashKey Exchange: Rapid transfer channels and withdrawals may be affected due to cooperation bank system maintenance

Odaily Planet Daily News: Hong Kong-licensed virtual asset exchange HashKey Exchange announced that due to maintenance of the cooperating bank's system, there may be delays in the arrival time when using rapid transfer channels during the maintenance period. Users are advised to wait patiently; in addition, if users need to withdraw, they should arrange the time in advance to avoid affecting fund usage. Apart from the maintenance from 1:00 to 8:00 on yesterday and today, the remaining maintenance time for HashKey Exchange's cooperating bank system this month includes: 3:00-6:00 on November 20, 1:00-11:30 on November 26, and 3:00-6:00 on November 27.

Arkham: About $50 million of open positions on dYdX were liquidated as YFI plummeted

Odaily Planet Daily News: On X platform, blockchain data analysis platform Arkham stated that about $50 million of open positions on dYdX were liquidated as YFI plummeted. Prior to this, nearly half of the open positions for YFI were on dYdX.
Arkham added that normally, the trading volume of YFI on dYdX is very low, but the recent surge in the token's price led to a peak of about $60 million in open contracts.

Project News

Lightning Network protocol Nostr Assets announces suspension of deposit function, the third suspension this month

Odaily Planet Daily News: Lightning Network protocol Nostr Assets stated on X platform that due to overwhelming user response, they will temporarily suspend the deposit function for maintenance.
Since Nostr Assets announced the upcoming launch of Fair Mint on November 7, they have announced the suspension of asset deposits three times. The project previously airdropped tokens worth approximately $2600.

Ordinals founder: Offering 0.1 BTC bounty for creating a new curse inscription method

Odaily Planet Daily News: The founder of Ordinals stated that they are offering a 0.1 BTC bounty for creating a new curse inscription method, with a deadline of November 26. This plan aims to resolve all issues before Jubilee. Eligible cases for the reward include errors in the index, envelope, or inscription parser that render the inscription unrecognizable, or significant and beneficial improvements to the inscription encoding method.

friend.tech: 600,000 bot accounts have been deleted

Odaily Planet Daily News: friend.tech stated on X platform: "We have been working hard to reduce bot attacks. Today, we identified and deleted 600,000 accounts identified as bots from the voting distribution in the Feed."

Web3 Foundation CEO: Polkadot to abandon parachain slot auctions, adopt a new mechanism

Odaily Planet Daily News: Fabian Gompf, the new CEO of Web3 Foundation, stated in an interview that Polkadot is about to undergo a major transformation. Polkadot will abandon parachain slot auctions and adopt a new mechanism that allows application developers to rent block space as needed. (Thedefiant)
Earlier news revealed that Web3 Foundation launched the $20 million and 5 million DOT Polkadot ecosystem project funding plan "Decentralized Futures," which is applicable to profit-generating organizations centered around Polkadot and non-profit entities with a strategic plan to ensure continuous funding through Polkadot's on-chain funding system after 2024. The review will begin in November, decisions will start in December, and the application will end in June 2024.

Balancer to provide an additional 1.2 million ARB incentives for its liquidity growth program on Arbitrum

Odaily Planet Daily News: The decentralized exchange platform Balancer announced that it will provide an additional 1.2 million ARB incentives for its Liquidity Growth Program (LGP) on the Arbitrum network, sourced from the previously approved Short-Term Incentive Program (STIP).
Prior to this, the total incentives provided by LGP were 1 million ARB, so the new injection of funds means that the incentive intensity of the LGP program will double. Previously, the program allocated 80,000 ARB per epoch, continuing until the end of November, and now it will allocate approximately 171,000 ARB every two weeks, continuing until the end of February next year.

Joint sports shoes released by Nike and its NFT entity RTFKT

Odaily Planet Daily News: Nike and its NFT entity RTFKT have released joint sports shoes, which will go on sale on November 20.

Hacker who previously attacked Indexed Finance attempts new attack earlier this month

Odaily Planet Daily News: On-chain detective ZachXBT stated on X platform that earlier this month, the hacker who previously attacked Indexed Finance attempted to launch an attack on the news platform Relevant using an address starting with 0x9b9. The 0x9b9 address is suspected to be controlled by Alex Chon, a blockchain engineer identified on Github, who has been accused of being a North Korean hacker and subsequently dismissed from two related teams.
Additionally, Alex Chon has changed his Github username multiple times and is currently named "Holy Pengy" and has a Pudgy Penguins pfp.

Investment and Financing

DeFi credit market Credix Finance secures $60 million in credit financing

Odaily Planet Daily News: DeFi credit market Credix Finance announced securing $60 million in credit financing through a partnership with an alternative investment management company in the United States, which focuses on asset-based lending opportunities and manages a $3 billion investment portfolio.
Earlier, DeFi investment platform Credix completed a $11.25 million Series A financing round, led by Motive Partners' early fund and ParaFi Capital, with participation from Valor Capital Group, Victory Park Capital, and Ricardo Villela Marino, Chairman of Itaú Latam.

Cryptocurrency trading platform OMTrade completes $6 million seed round financing

Odaily Planet Daily News: Cryptocurrency trading platform OMTrade announced the completion of a $6 million seed round financing, with participation from Find Satoshi La, developer of STEPN, Folius Ventures, Meteorite Labs, Incuba Alpha, and KSK Fund (invested by former Japanese football team captain Keisuke Honda).
OMTrade offers innovative copy trading, readjusting user earnings through innovative product features such as batch trading, monthly settlements, and market-based profit sharing structure.

Friend3 receives strategic financing from BNBswap Ventures

Odaily Planet Daily News: BNBswap stated on X platform that BNBswap has reached a partnership with Friend3 and made a strategic investment in Friend3.
Friend3 is a decentralized application that focuses on freely priced paid group chats, allowing creators to customize price curves and is compatible with social platforms including X (formerly Twitter). Compared to friend.tech, it has made multiple optimizations in Web3 login, group chat functionality, price rate customization, terminal compatibility, and privacy protection.

Global Policies

U.S. presidential candidate: If elected president, will ensure Bitcoin is not subject to government intervention

Odaily Planet Daily News: U.S. presidential candidate Vivek Ramaswamy discussed various topics, including Bitcoin, in an interview this week. He stated that the government is "threatened by the existence of Bitcoin" and emphasized that if cryptocurrencies become more popular, it will "threaten the current position of the Federal Reserve itself." He pledged that if elected president, he would ensure that the government "does not interfere in the affairs of those innovators." (News.bitcoin)

Personalities and Voices

dYdX founder: dYdX will undergo updates and a redesign of the liquidation engine

Odaily Planet Daily News: dYdX founder Antonio stated on X platform that a series of updates for dYdX have been launched, including:

  1. Market updates will become easier, making the market more conducive to higher liquidity generation;
  2. Maintenance margin functionality will become updatable (not available in V3);
  3. Maintenance margin functionality will be able to change with position size (not available in V3);
  4. The liquidation engine will be redesigned;
  5. Withdrawal requests will not be processed if the account has any negative assets (until the relevant positions are liquidated).
    Antonio stated that all of the above updates will greatly help address the situation that occurred with YFI (on dYdX) and provide a safer service for every user. dYdX will gradually add more features and continue to prioritize risk and security.

Coinbase CEO: OpenAI has destroyed $80 billion in value

Odaily Planet Daily News: Coinbase CEO Brian Armstrong stated on X platform that OpenAI has destroyed $80 billion in value and crushed a shining star of American capitalism. Every talented employee at OpenAI should resign and join Sam/Greg's new venture; skip the woke non-profit board, keep founder control, avoid meaningless regulation, and continue building.

Former CTO of Coinbase: Artificial intelligence needs to be decentralized

Odaily Planet Daily News: In response to the dismissal of OpenAI founder Sam Altman, former CTO of Coinbase Balaji Srinivasan commented on X, stating that if the board can treat Sam this way, they can treat any OpenAI customer this way. Artificial intelligence needs to be decentralized.

Founder of Astar: Two-thirds of the construction work for ASTR token economic model 2.0 has been completed

Odaily Planet Daily News: Sota Watanabe, founder of Astar Network, stated on X platform that two-thirds of the construction work for the ASTR token economic model 2.0 has been completed, and the final third is expected to be delivered by the end of the year. After the activation of the new token economic model, the inflation rate of ASTR will be halved, and the network will introduce a new DApp staking mechanism, which will contribute to the long-term development of Astar Network.

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