Balancer Exploit, Stream Finance Collapse, and Solana ETFs’ Shine — Week in Review

CN
5 hours ago

Balancer was exploited for over $116 million after a V2 pool vulnerability was abused, Stream Finance saw a $93M blow that sent its XUSD peg to $0.24 amid losses tied to an external fund manager, Sequans was roasted after selling bitcoin as part of a “strategic asset reallocation,” analyst Jordi Visser floated the “Silent IPO” theory to explain Bitcoin’s sideways action, and Solana ETFs outperformed as Bitcoin and Ether funds saw over $320M in outflows this week.

Balancer Suffers Major Exploit: Over $116 Million Drained From V2 Pools

On Nov. 3, Balancer was exploited for over $116 million after attackers used a smart contract vulnerability… read more.

Balancer Suffers Major Exploit: Over $116 Million Drained From V2 Pools

Editor’s comment: This will have long term ramifications, both positive and negative. Negative, because big boy money will not be deploying in size into DeFi anytime soon. Positive, because hopefully it will spur much more scrutiny to DeFi’s most used smart contracts.

Stream Finance Rocked by $93M Blow—Project’s Stablecoin XUSD Peg Craters to $0.24

On Monday, the decentralized finance (DeFi) protocol Stream Finance announced that an external fund manager… read more.

Stream Finance Rocked by $93M Blow—Project’s Stablecoin XUSD Peg Craters to $0.24

Editor’s comment: Most likely the external fund manager blew up on 10/10. If so, why did it take so long for Stream Finance to announce the massive losses?

‘Strategic Asset Reallocation’: Sequans’ Bitcoin Sale Gets Roasted Online

Sequans Communications S.A., a firm that adopted bitcoin as its primary treasury reserve asset, confirmed… read more.

'Strategic Asset Reallocation': Sequans’ Bitcoin Sale Gets Roasted Online

Editor’s comment: This is likely the first of a great many treasury companies that will sell their bitcoins.

Why Is Bitcoin Going Sideways? The Silent IPO Theory

Jordi Visser, financial analyst and former president of Weiss Multi-Strategy Advisers, explained bitcoin’s… read more.

Why Is Bitcoin Going Sideways? The Theory of a Silent IPO

Editor’s comment: This could be true, but it also could be a bullish-leaning rationalization for why Bitcoin OGs have sold 400,000 bitcoins in the past thirty days.

Bitcoin and ether exchange-traded funds (ETFs) kicked off November with heavy outflows totaling over $320 million… read more.

Editor’s comment: It’s heartening that not all ETF flows are negative!

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