IRS vs. FTX: $24 Billion Dispute

️ On today's Top Picks:

Crypto News

• ⭐️ Richard Heart served SEC lawsuit via substitute service.

• Su Zhu set to be released this month after court proceedings.

• Do Kwon detention in Montenegro extended as he appeals US extradition.

• Blackrock, Grayscale, Franklin, and Fidelity have all recently met with the SEC to discuss Bitcoin ETF filings.

• Kucoin to pay $22M and exit New York as it settles charges.

• ⭐️ Yearn Finance accidentally swaps ~$2.28M of treasury into just ~$780K because of insufficient liquidity.

• Celestia to integrate data availability layer with Polygon's chain development kit.

• Starknet unveils Devonomics program which will distribute portion of network fees to developers.

• Worldcoin 2.0 launches, adds different authentication levels and new integrations.

• Donald Trump launches new Mugshot Editon NFT collection.

• FIFA launches NFT collection on Algorand.

• US Senator Elizabeth Warren introduces bill to crack down on cryptocurrencies.

• US DOJ indicts two individuals for allegedly running a $25M AI crypto-trading ponzi scheme.

• LINE raises $140M to launch global NFT platform called DOSI.

• Nym, Protocol Labs, Oasis, & Aztec form Universal Privacy Alliance.

Alpha

• Coinbase launches new Coinbase Traders X account and posts, "Hello traders".

• Linea DeFi Voyage SocialFi wave is live on Intract.

• Layer3 launching Holiday Campaign featuring several partners this week.

• WalletConnect sets launch date for their Web3Inbox app for Jan 2024; users can join waitlist.

• Ten (formerly Obscuro) testnet is live along with Stage 2 of Meet Ten campaign on Galxe.

• Rhino launches limited-edition SPOK for users who bridge to Starknet via Rhino.

• Braavos Starknet Pro Score NFT quest on Starknet Quest deadline approaching.

Airdrops

• ⭐️ Rainbow Wallet points airdrop by Olimpio.

• Aptos airdrop #2 strategy by Earndrop.

• Orderly Network airdrop strategy by Earndrop.

• EigenLayer & LSTs airdrop strategy by LayerGG.

• EigenLayer x Kelp DAO airdrop strategy by Alpha Insiders.

• Orbiter Finance O-Points redemption is live.

Finance News

• US Inflation falls to 3.1% in Nov, down from 3.2% in Oct.

• Ark Invest sells another $11.5M of Coinbase $COIN shares.

• $ASML & Samsung invest $760M to build chip plant in South Korea.

• Bain Capital sells $448M stake in Axis Bank.

• Tesla $TSLA recalls 2M vehicles due to autopilot defect.

• Etsy $ETSY lays off 11% of its employees

• Hasbro $HAS lays off 1100 employees due to declining toy sales.

Security and Exploits

• OKX DEX exploited for ~$2.76M due to private key leak.

• ⭐️ Bitcoin Inscriptions rated 5.3 Medium Severity in National Vulnerability Database.

Token Unlocks

• CyberConnect / 1.26M $CYBER / ~$7.69M / 14 DEC
• Flow/ 2.6M $FLOW / ~$1.99M / 15 DEC
• ApeCoin / 15.6M $APE / ~$25.74M / 16 DEC

Funding

• Andalusia Labs, risk management infrastructure for digital assets; raises $48M in Series A funding.

• Dynamic, Web3 login infrastructure; raises $13.5M in Series A funding led by a16z crypto.

• GU Group, an Ethereum compatible Layer 1 operated by Japanese companies; raises $2.9M in funding led by B Dash Ventures.

• Seam Social, a social platform to code, design, and curate your social space; raises $2.5M in Seed funding led by 1kx.

• Nodekit, a decentralized shared sequencer; raises $1.2M in Pre-Seed funding led by Borderless.

• Hackless, a DeFi security platform; raises $1.2M in private funding.

• Morphism, an Ethereum layer 2; raises an undisclosed amount from Bitget.

• MATR1X FIRE, an FPS mobile games; raises an undisclosed amount from OKX.

• NFTScan, infrastructure for NFTs; raises an undisclosed amount in strategic investment from BIT Jungle.

• AIT Protocol, infrastructure for AI data; raises an undisclosed amount.

• Sound acquires Soho, a mobile platform for digital collectors.

The Degen Farmer