uniBTC has a vulnerability that has caused a loss of about $2 million and the contract has been suspended.
Author: Deep Tide TechFlow
Yesterday's Market Dynamics
"Fortune": CZ is expected to be released early today, the lawyer says he does not want to be interviewed
According to "Fortune", Binance founder Zhao Changpeng ("CZ") is expected to be released two days earlier than the official release date this Friday, as prisoners are allowed to leave the detention center early if the release date falls on a weekend. Zhao Changpeng's lawyer stated that he does not want to be interviewed on the day of his release. However, the media has made some speculations about his next steps. Zhao Changpeng's first stop is likely to be Dubai or Paris, where his children and their mother currently reside. In addition, the media expects that with Zhao Changpeng's release, more detailed information about the Giggle Academy project he initiated before his imprisonment may emerge in the coming months. Apart from family and charitable work, Zhao Changpeng, who has regained his freedom, may now focus on his third pursuit: becoming extremely wealthy and dominating the cryptocurrency industry over the past decade.
Insiders: Robinhood is considering launching a stablecoin
According to Bloomberg, fintech giants Robinhood and Revolut are considering issuing their own stablecoins to enter the rapidly growing $170 billion stablecoin market. Insiders revealed that the two companies are currently evaluating this plan and have not made a final decision. A Robinhood spokesperson stated that there is currently "no plan" to issue stablecoins, but did not deny the possibility. A Revolut spokesperson stated that the plan is to "further expand" its crypto products. Analysts believe that the upcoming MiCA regulations in the European Union may promote the development of stablecoins in the region. The regulations are set to come into full effect by the end of 2024 and establish specific rules for stablecoin issuers, including licensing agreements and strict reserve management requirements.
Avalanche launches $40 million incentive program Retro9000 to support L1 blockchain development
The Avalanche Foundation has announced the launch of the Retro9000 program, a retrospective incentive program worth up to $40 million designed to reward developers building L1 blockchains and related tools on Avalanche. The program is part of the Avalanche9000 large-scale upgrade. Luigi D'Onorio DeMeo, Chief Operating Officer of Ava Labs, stated that Retro9000 aims to guide the development of the L1 ecosystem and provide incentives for early developers to build products. The project will be evaluated through public rankings and community voting.
Ethena plans to launch new stablecoin UStb supported by BlackRock's tokenized BUIDL fund
Ethena announced plans to launch the new stablecoin UStb, with its reserves invested in BlackRock's institutional digital liquidity fund (BUIDL). UStb will be offered as an independent product, providing different risk characteristics from USDe. In adverse market conditions, UStb can help USDe manage risks. Ethena plans to use UStb as collateral for centralized exchanges it has partnered with, such as Bybit and Bitget. Specific release timing and exchange integration details will be announced in the coming weeks. It is reported that BUIDL is BlackRock's first tokenized asset fund, tokenized by Securitize.
Telos unveils zkEVM roadmap, plans to complete mainnet deployment by the end of 2025
The Telos Foundation has announced its roadmap for the SNARKtor-driven Zero-Knowledge Ethereum Virtual Machine (ZK-EVM) development. The project will use hardware acceleration technology, utilize TLOS as the native token, and roll up on Ethereum. The roadmap shows that Telos plans to deploy hardware-accelerated zkEVM on the testnet in the fourth quarter of 2024, followed by deployment on the Ethereum mainnet in the first quarter of 2025. In the second and third quarters of 2025, Telos will gradually integrate SNARKtor on the testnet to aggregate multiple zero-knowledge proofs, improving verification efficiency on L1. Ultimately, Telos plans to fully integrate SNARKtor on the mainnet by the fourth quarter of 2025.
Berachain announces the launch of RFB incentive program to provide support for early teams
On September 26, Berachain announced the launch of the Request For Broposal (RFB) incentive program. RFB primarily provides support in terms of liquidity to ecological projects and testnet developers of Berachain, helping projects with their initial development. It is reported that projects deployed on the Berachain testnet can apply to participate in the RFB program before October 9 and can choose to participate in the Boyco project at the same time. The Boyco project supports project parties to access the Royco Protocol, allowing project parties to directly receive liquidity support from Berachain, focusing on project development and community operations.
Investment bank Macquarie bullish on Bitcoin mining companies' transition to AI and high-performance computing, giving "outperform" ratings to multiple mining company stocks
According to The Block, Australian multinational investment bank Macquarie has given "outperform" ratings to stocks of multiple Bitcoin mining companies, including MARA, Riot Platforms, Core Scientific, CleanSpark, and Cipher Mining. Analysts believe that these companies are transitioning from a focus on cryptocurrencies to artificial intelligence (AI) and high-performance computing (HPC) models. Macquarie analysts Paul Golding and Emma Liang pointed out that in recent years, Bitcoin mining companies have increasingly diversified their businesses, especially after the fourth Bitcoin halving in April this year. Some mining companies view their unique power resource advantages as an opportunity to diversify into non-crypto-related hosting businesses, while others focus on accumulating Bitcoin assets.
Bedrock: uniBTC has a vulnerability that has caused a loss of about $2 million and the contract has been suspended
The multi-chain liquidity re-staking protocol Bedrock announced in its Telegram channel that the team has become aware of a security vulnerability involving uniBTC. In response, the team has suspended the contract to protect users and their assets. The team stated that the BTC in custody wallets is safe, the BTC in reserves is safe, and the estimated total loss from the theft is about $2 million. In addition, the team stated that they are actively coordinating with DEX, security audit teams, and partner projects to revoke permissions. For permissions that cannot be revoked, the corresponding wallet addresses will be blacklisted.
Data: Stacks Stacking market cap reaches $700 million, StackingDAO TVL reaches $100 million
According to official sources, Stacking DAO has driven the flourishing development of Stacks DeFi ecosystem, successfully introducing 13% (about $90 million) of the $700 million STX staking market into the Stacks DeFi ecosystem through its liquidity staking token stSTX.
Currently, 48% of stSTX has been deployed by over 21,000 users in various DeFi protocols on Stacks. The widespread integration of stSTX has driven significant growth in the Stacks ecosystem. According to DefiLlama data, Stacks TVL has surged from $40 million to over $180 million, and the number of monthly active users has increased from hundreds to thousands.
Market Dynamics
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