OKX Faces Departures

Alpha Team
April 17, 2024

🚪 OKX Leadership Shuffle

Execs Departure Announced: OKX 'OG' executives Tim Byun and Wei Lan have left the crypto exchange. Byun, former CEO of Okcoin, was pivotal in global government relations, and Lan led as head of product.

Strategic Realignments: The departures are part of a broader realignment within OKX, aiming to adapt to the evolving market demands and regulatory landscapes in the cryptocurrency sector.

Future Plans and Speculations: OKX has not yet announced replacements, leading to speculation about future leadership and strategic direction. The market and community responses are pending. Read More.

️ On today's Top Picks:

🥁 Taiko unveils Taikoons NFT collection.
🪂 NIM Network updates $NIM allocations.
🔓 Immutable $IMX token unlock worth ~$65M.
💸 Andreessen Horowitz raises $7.2B.

Read time: ⏰ 6 minutes

Crypto News

• ⭐️ OKX executives Tim Byun & Wei Lan leave exchange.

• Kraken launches self-custodial mobile wallet.

• Worldcoin $WLD introduces World Chain, a blockchain designed for humans.

• Scroll launches Bernoulli Upgrade adding support for EIP-4844.

• Arbitrum Foundation launches Grant Program Phase Three.

• Gitcoin announces Gitcoin Grants 20; beginning on April 23rd.

Alpha

• ⭐️ Taiko unveils Taikoons Genesis NFT collection.

• Socket reintroduces itself as the first chain abstraction protocol.

• Avantis raises vault capacity for LPs that reward XP & boosts.

• Bebop launches support for Mode Network.

• Catalyst adds Pemit2 support on its Tiger Testnet.

• Gitcoin Passport to make adjustments to stamp offerings and weights next week.

• EthSign launches Sign Friend Fiesta Week 5 on Galxe.

Airdrops

• Mode Airdrop Strategy by Earndrop.

• Omni Network $OMNI airdrop is live.

• ⭐️ NIM Network updates final allocations for $NIM airdrop.

• Hyperliquid airdrops $PURR token to Hyperliquid users.

• Drift introduces $DRIFT token; 100M (10%) allocated for airdrops.

Finance News

• US Federal Reserve states inflation is NOT headed to 2% goal.

• UK Inflation eases to 3.2%, higher than 3.1% forecast.

• Microsoft $MSFT to invest $1.5B in G42 AI firm.

• Meta $META CEO wins dismissal of claims in a dozen lawsuits.

• ASML $ASML shares drop as sales miss expectations.

• Venture capital in UK start-ups falls in Q1 2024; lowest level since Q2 2020.

Security and Exploits

• iMessage exploit warning shared by Trust Wallet allegedly not real.

• ZachXBT posts investigation into alleged Prisma exploiter 0x77 on X.

• Hive RAT creators & $3.5 million cryptojacking operator arrested in global crackdown.

Token Unlocks

• Nym / 3.08M $NYM / ~$545K / APR 17
• Manta / 21.67M $MANTA / ~$43M / APR 18
⭐️• Immutable / 34.19M $IMX / ~$65M / APR 18
• Pixels / 54.39M $PIXEL / ~$22M / APR 19
• Space ID / 18.49M $ID / ~$13M / APR 21

Funding

• ⭐️ Andreessen Horowitz raises $7.2B in funding; a16z expected to raise more funds in 2025.

• Puffer Finance, a liquid restaking protocol; raises $18M in Series A funding co-led by Brevan Howard Digital & Electric Capital.

• Sending Network, a communication infrastruture for Web3; raises $7.5M in Extended Seed funding.

• GEODNET, a global earth observation decentralized network; raises $2M in Strategic funding.

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