WBTC Under Scrutiny; $DBR Airdrop Checker Live

Alpha Team
August 12, 2024

🔒 BitGo CEO Defends WBTC Security Amid Control Shift

Concerns Over WBTC Security: BitGo is planning to transfer control of its WBTC product to a joint venture with BiT Global, moving custody from the U.S. to Hong Kong and Singapore. This change raises concerns about security and control.

Justin Sun’s Role in BiT Global: Justin Sun, with significant influence over BiT Global, claims his role is purely strategic and asserts he doesn’t control WBTC private keys. He assured that Bitgo’s cold wallet technology continues to safeguard the keys, with backups across various regions.

BA Labs’ Recommendations: BA Labs advises the Stability Facilitator to propose immediate actions to limit WBTC exposure growth due to the changes. The recommendations aim to mitigate any risks associated with the joint venture. Read More.

️ On today's Top Picks:

⛽ Ethereum user accidentally spends $90K on gas fees.
🔴 Optimism $OP to develop native interoperability solution.
🪂 deBridge introduces deBridge Foundation and $DBR airdrop.
💰 Marathon Digital to raise $250M to buy more Bitcoin $BTC.

Read time: ⏰ 4 minutes

Crypto News

• ⭐️ BitGo announces plans to move $WBTC business in partnership with BiT Global.

• Celsius sues Tether, Badger DAO, Compound Labs, & Bancor DAO in an attempt to recover billions.

• Binance Executive Tigran Gambaryan is allegedly being denied access to lawyers & his health is deteriorating rapidly.

• Coinbase, Crypto[.]com, & Gemini show opposition to US CFTC proposal banning political prediction markets in the US.

• ⭐️ Ethereum User accidentally spends $90K on gas fees to transfer $2,200 of ETH.

• Canto $CANTO chain halts amid consensus issue; upgrade planned.

Alpha

• ⭐️ Optimism $OP to develop native interoperability solution for Ethereum Layer 2 chains.

• Symbiotic launches Devnet; plans Mainnet release in Q3.

• Cycle launches Cycle x Berachain Honey Box campaign.

• ICYMI Linea Culture SZN by Earndrop.

• Superseed Testnet Phase by Alpha Insiders.

Airdrops

• ⭐️ deBridge introduces deBridge Foundation; launches $DBR airdrop eligibility & allocation checker.

• Top 10 Upcoming Airdrops in H2 2024 by CoinGecko.

• Largest Airdrops of All Time by mystri.

• ICYMI Weekly Claims And News by EarnDrop.

• ICYMI Polynomial Airdrop Strategy by Earndrop.

Finance News

• US PPI data releases on Tuesday; US CPI data releases on Wednesday.

• ⭐️ Marathon Digital $MARA to raise $250M to buy more Bitcoin $BTC.

• Former Bank of Japan board member Makoto Sakurai believes bank us unlikely to hike rates again this year.

Security and Exploits

• Amazon Web Services (AWS) vulnerabilities uncovered by researchers.

Token Unlocks

• Sandbox / 205.59M $SAND / ~$52M / AUG 14
• CYBER / 1.99M $CYBER / ~$6M / AUG 14
• Starknet / 64M $STRK / ~$23M / AUG 15
• Render / 760.57K $RENDER / ~$3M / AUG 15
• Arbitrum / 92.65M $ARB / ~$51M / AUG 16
• ApeCoin / 15.6M $APE / ~$9M / AUG 17
• Ethena / 14.89M $ENA / ~$4M / AUG 18
• Oasis / 151M $ROSE / ~$9M / AUG 18
• Pixels / 54.37M $PIXEL / ~$7M / AUG 19

Funding

• Ion Protocol raises $4.8M in funding.

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	60.23%
Azuro (Polygon)	USDT	60.21%
Aerodrome Slipstream (Base)	USDCUSD+	39.13%
Avantis (Base)	USDC	33.00%
BFX (Blast Futures) (Blast)	USDB	29.34%
Merkl (Arbitrum)	USDEUSDT	28.41%
Extra Finance (Base)	USDZUSDC	28.03%
Aerodrome V1 (Base)	USDC+USD+	25.39%

. . .

⚫️ 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).

👉 Bridge to Linea and start farming points

. . .

That’s it for today’s edition! See you soon.

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