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- $TON Down ~20% Amidst Telegram CEO's Arrest
$TON Down ~20% Amidst Telegram CEO's Arrest
Alpha Team
August 26, 2024
🚨 Telegram CEO Arrested in France
Surprise Airport Arrest: Pavel Durov, 39, CEO of Telegram, was arrested at 8 p.m. Saturday at Le Bourget airport, France. He arrived from Azerbaijan and was detained due to a French warrant linked to serious criminal allegations.
Serious Allegations: Durov faces accusations of complicity in crimes like drug trafficking, fraud, and child exploitation due to Telegram’s lack of moderation. His arrest may lead to pre-trial detention as investigators claim he did nothing to moderate criminal activity.
Impact on Toncoin: Following the arrest, Telegram's native cryptocurrency, Toncoin ($TON), dropped by ~20%. The arrest aims to warn criminals using Telegram and urges European nations to enforce stricter compliance from the platform. Read More.
️ On today's Top Picks:
- 💸 Ethereum Foundation budget revealed to be ~$100M per year.
- ⚔️ US Trustee Andrew Vara challenges FTX reorganization plan.
- 🚀 Nubit launches Alpha Testnet Phase 3 Cycle 1.
- 🪂 Orderly Network $ORDER airdrop claim is live.
Read time: ⏰ 4 minutes
Crypto News
• ⭐️ Telegram Founder & CEO Pavel Durov arrested in France; Toncoin $TON down ~20% since arrest.
• ⭐️ Ethereum Foundation budget revealed to be ~$100M per year; largely made up of grants and salaries.
• ⭐️ US Trustee Andrew Vara challenges FTX reorganization plan; concern centers around the legal exemptions.
• US SEC charges Abra; alleges Abra operated as an unregistered investment company & more.
• Thailand authorities raid illegal Bitcoin mine following reports of power outages.
Alpha
• Initia posts "Initializing Mainnet ▓▓▓▓▓▓▓░░░░░░░ 47%" on X.
• ⭐️ Nubit launches Alpha Testnet Phase 3 Cycle 1.
• Relay Protocol introduces support for Solana; supports $ETH & $USDC bridging to Solana.
• 3DNS introduces support for Base.
• Introducing Planetarium by mystri.
Airdrops
• Weekly Airdrop News by Earndrop.
• ⭐️ Orderly Network $ORDER airdrop claim is live.
• The Morpho Association invites the community to discuss $MORPHO token transferability.
• Curvance Airdrop Strategy by Alpha Insiders.
Finance News
• Dow Jones $DJI closes at record high; Nasdaq $IXIC and S&P 500 $SPX slump.
• Chinese Yuan surpasses US Dollar in trade settlements in Russia.
• Uber $UBER fined $324M in the Netherlands for sending personal data of EU taxi drivers to the US.
Security and Exploits
• SlowMist Weekly Security Report highlights an increase in compromised accounts.
• Polygon Discord temporarily hacked for ~4 hours; one users loses ~$145K in assets.
Token Unlocks
• Yield Guild Games / 14.08M $YGG / ~$7M / AUG 27
• SingularityNET / 8.32M $AGIX / ~$5M / AUG 28
• Optimism / 31.34M $OP / ~$49M / AUG 31
• Echelon Prime / 750K $PRIME / ~$7M / AUG 31
• dYdX / 8.33M $DYDX / ~$10M / SEP 01
• Sui / 64.19M $SUI / ~$64M / SEP 01
• ZetaChain / 53.89M $ZETA / ~$31M / SEP 01
• Ethena / 14.89M $ENA / ~$5M / SEP 01
Funding
• Chainbound raises $4.6M in Seed funding led by Cyber Fund.
• ATT Global raises an undisclosed amount in funding from Waterdrip Capital.
The Degen Farmer
Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!
| PROTOCOL | ASSETS | APY |
|---|---|---|
 Storm Trade (Ton) | USDT | 53.54% |
 Merkl (Arbitrum) | USDEUSDT | 47.11% |
 Extra Finance (Base) | USDZUSDC | 29.98% |
 Aerodrome V1 (Base) | USDZUSDC | 26.23% |
 Velodrome V2 (Optimism) | USDCDOLA | 25.20% |
 Anzen V2 (Ethereum) | SUSDZ | 24.97% |
 Curve DEX (Ethereum) | IDAIIUSDCIUSDT | 19.02% |
 Umami Finance (Arbitrum) | GMUSDC(WBTC) | 18.52% |
| PROTOCOL | ASSETS | APY |
|---|---|---|
| Storm Trade (Ton) | USDT | 53.54% |
| Merkl (Arbitrum) | USDEUSDT | 47.11% |
| Extra Finance (Base) | USDZUSDC | 29.98% |
| Aerodrome V1 (Base) | USDZUSDC | 26.23% |
| Velodrome V2 (Optimism) | USDCDOLA | 25.20% |
| Anzen V2 (Ethereum) | SUSDZ | 24.97% |
| Curve DEX (Ethereum) | IDAIIUSDCIUSDT | 19.02% |
| Umami Finance (Arbitrum) | GMUSDC(WBTC) | 18.52% |
⚫️ Linea integrates ENS Domains |  |
Linea, from Consensys: The L2 from MetaMask creators that has amassed 500M in TVL. They recently integrated ENS Domains, building towards their vision of a user-friendly Ethereum. Register your name.linea.ens here: https://names.linea.build
LXP Points: Users can now pre-farm LXP Points using the chain and the protocols on it. So far, 67B points were distributed. Soulbound "LXP-L" NFTs are also available for users who bridge assets and LP.
🪂 Points opportunity 🪂: There's no guarantee that these be converted to $LINEA tokens, but the hints are there. If you want to take a look, check Clip Finance (vault strategies, similar to Yearn) and Lynex (DEX).
That’s it for today’s edition! See you soon.
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