Avalanche: Downhill Movement 🔻

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TGIF is right! 2024 seems to be off to a phenomenal start… Well, for most. Yuga Labs CEO is stepping down. Avalanche experience technical outage for 4+ hours. A16Z pours $100M into a startup. A Mavis co-founder lost $9.7M BTC & ETH in a wallet hack. Oh, and Reddit is investing excess cash in Ether and Bitcoin as is announces IPO plans. Keep on Scrolling for other top headlines 🫡

• Avalanche goes down with failure to produce a new block for 4+ hours (CD)

• De Labs and Dust Labs to merge with @frankdegods to serve as CEO (@thedropnft)

• SEC crypto unit leader to leave and join pro-crypto firm, White & Case (BLN)

• Coinbase holds lowest confirmed supply of BTC since 2015 (CS)

• Judge to allow FTX to sell $1B stake in AI startup Anthropic (BLOCK)

• Optimism airdrops $40M to artists and creators (TD)

• Kraken is attempting to get SEC lawsuit dismissed (BLOCK)

• Valkyrie to launch a 2x leverage futures Bitcoin ETF (BW)

• Greg Solano steps down as CEO at of Yuga Labs

• Hack VC closes oversubscribed $150M Fund for web3 and AI (BLOCK)

• Eigen Labs scores $100M Series B investment from A16Z Crypto (EL)

• Solana developer platform Helius raises $9.5M in series A (M)

• TZ Apac partners with Farquhar VC to build web3 games on the Tezos blockchain (XTZ)

• January Recap: 176 deals and $750M+ invested in web3 startups in hot start to 2024 (WV)

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• A16Z and Coinbase are taking SEC to court in Texas for ‘crypto overreach’ (DT)

• Crypto hedge fund accuses of criminal mismanagement in FTX dispute (FT)

• Ripple CEO claims crypto regulation needs to be clearer (Y)

• Idaho proposes Bitcion and crypto protection bill (ACB)

• Kraken, Coinbase, and Binance have been blocked by Nigerian Communications Commission (WG)

• Massive Bitcoin logo projected in the German parliament (@BitcoinMagazine)

• Jeffery Zirlin, a Sky Mavis co-founder, hacked for $9.7M ETH (BLOCK)

• $2.1M stolen from Hong Kong finance manager with fake crypto platform promoted on Instagram (BiC)

• Omaha woman loses $700k in fake phone alert scam (WOWT)

• A new scam found on Telegram allows hackers to drain wallets without confirmation, called “gas-less” transaction (CT)

• Finnish police cant find bitcoin blackmailer they released (P)

• US bans crypto addresses tied to LockBit ransomware group (CD)

• ETH is at $3K for the first time since 2022 (D)

• Ethereum whale buys $166M of ETH as price hovers $3k (WG)

• Burn rate surges due to on-chain activity (TD)

• Esports giant launches fan rewards platform on Sui (M)

• Reddit is investing excess cash into ETH and BTC and will continue to do so (WG)

• Donald Trump talks about embracing Bitcoin in Fox News interview (@CryptoTea_)

• Saylor’s MicroStrategy is now qualified for S&P500 with $12B market capitalization (@BitcoinMagazine)

• Texans are fed up with the noise of BTC miners (DLN)

• AI tokens are rallying big time (CD)

• European Central Bank says Bitcoin Fair Value is $0 (WG)

• Sports Illustrated moves NFT service to Avalanche (M)

• Dan Morehead, a hedgefund billionaire, says Bitcoin DeFi is a $500B market (@BitcoinMagazine)

• How Proof Collective being acquired by Yuga Labs has played out so far (TB)

• Can’t believe we are actually typing this out: Ben Armstrong to fight Cameron Slammeron in Hedera-based Karate Combat match

• BlackRock held a ‘Institutional Digital Assets Summit’ (CMST)

• Kraken CEO writes thread on the SEC lawsuit (@DavidLRipley)

• The crypto market recovery impacting venture investments positively (CN)

• The difference and need for a decentralized social network vs. current platforms (DT)

• Bitcoin has a technology upgrade called ‘Taproot’ (BLOCK)

• Behind the scenes of consumer use of popular wallets like MetaMask and Phantom (BLOCK)

• Bitcoin ETFs have existed for years, so what’s the difference with a spot ETF (BLOCK)

• Browse 10,000+ available jobs in Web3 (W3J)

• Decrypt’s 2024 U.S. tax guide (DT)

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