FTX's ~$13B Crypto Repayment Plan Questioned

️ On today's Top Picks:

Crypto News

• ⭐️ US SEC warns FTX estate against paying creditors back in stablecoin or other digital assets.

• ⭐️ Global Crypto Investment Products realize $305M in weekly outflows amid, “widespread negative sentiment...”

• ⭐️ Binance Executive Tigran Gambaryan's trial resumes in Nigeria.

• PumpFun total revenue reaches ~$90M in Solana $SOL; ~$40M of the Solana $SOL sold for $USDC.

• OKX granted Major Payment Institution License from the Monetary Authority of Singapore.

• Wu Blockchain highlights September Crypto Industry Major Events including Korean Blockchain Week, Singapore 2049, and more.

Alpha

• ⭐️ Lombard Public Access to $LBTC begins tomorrow.

• Jumper snapshots August XPs for the Jumper Loyalty Pass; to be updated in the next couple days.

• Superseed launches Phase Two: Fractal Visions quest on Layer3.

• ICYMI Ebi Community-Centric Points Program by Mystri.

• ICYMI Proof of Play launches Boss Chain; Pirate Nation now multichain.

Airdrops

• Sonium - Sony's L2 Solution by Earndrop.

• ICYMI Story Protocol Testnet by Earndrop.

• Plume Network by mztacat.

• Level Money by mztacat.

• ICYMI Linea incorporates OpenBlock's sybil detection model for its LXP program.

Finance News

• Silicon Valley Bank exits China joint venture as Shanghai Pudong Development Bank takes full control.

• Chinese Yuan becomes second most used currency beating out the Euro.

• Algeria officially authorized to join BRICS New Development Bank.

• Turkey submits application requesting to join BRICS; to keep its commitments as a key member of NATO.

Security and Exploits

• ⭐️ WazirX Hacker begins transferring stolen funds to Tornado Cash.

• North Korean Hackers exploited Chrome-based browsers to steal crypto; the vulnerability has since been patched.

• ICYMI SlowMist Weekly Security Report highlights an increase in compromised accounts.

Token Unlocks

• dYdX / 1.55m $DYDX / ~$1.32m / SEP 03
• Taiko / 12m $TAIKO / ~$18m / SEP 05
• Immutable / 32.47m $IMX / ~$42m / SEP 06
• Mode / 500m $MODE / ~$6m / SEP 06
• Hashflow / 13.62m $HFT / ~$2m / SEP 07
• Ethena / 14.89m $ENA / ~$3m / SEP 08
• Xai / 35.88m $XAI / ~$7m / SEP 09

Funding

• Wu Blockchain's August VC Monthly Report highlights a 22% decrease in funding.

• IDA raises $6M in Seed funding led by CMCC Global & Hashed Fund.

• TrendX raises $6M in Seed & Series A funding.

• Parlay Labs raises $2M in funding led by DNA Fund.

• Kroma raises an undisclosed amount in Series A funding.

• Pencils Protocol raises an undisclosed amount in Strategic funding led by Taisu Ventures.

• Unified Layer raises an undisclosed amount in funding.

The Degen Farmer