🏂Avalanche and MakerDAO Race Forward Amid FTX Fallout

MakerDAO Brings Aboard Rocket Pool’s rETH

Hello Defiers! Here’s what we are covering today:

News

• Avalanche Surges to New High in Boost for ‘Subnet’ Strategy

• MakerDAO Brings Aboard Rocket Pool’s LSD Token

• FTX Hacker Offloads Over $59M of ETH and Sells for BTC

• Uniswap Riles Up Users With Plan to Share Wallet Addresses

• FTX Hack Mystery Deepens with Statement from Bahamian Regulators

• Grayscale Reassures Investors After Sister Firm Seeks Emergency Funding

Opinion

• How Zero Knowledge Proofs Can Restore Digital Trust

Podcast

Video

• Weekly Recap: FTX Fallout’s Ugliest Turn Yet

• FTX Hacker is on the move

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Layer 1s

Avalanche Surges to New High in Boost for ‘Subnet’ Strategy

DFK Chain Subnet Drives 51% Jump in Transactions Processed in September

By Samuel Haig

Avalanche is on a roll. Even as crypto wrestles with existential questions in the wake of the FTX disaster, transaction volumes on Avalanche, a Layer 1 network, surged to new highs in the third quarter amid the growth of its DFK Chain subnet.

Read the full story on The Defiant

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FTX Crisis: Hacks

FTX Hacker Offloads Over $59M of ETH and Sells for BTC

ox59 still has over 200,735 ETH, worth around $236M, in its wallet

By Aleksandar Gilbert

The hacker behind one of the wallets that drained the failed FTX exchange is offloading several millions of dollars worth of Ether, causing a further slide in the cryptocurrency. 

Read the full story on The Defiant

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Sponsored Post

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Ethereum Staking

MakerDAO Brings Aboard Rocket Pool’s LSD Token

Deal Challenges Liquidity Staking Giant Lido

By Samuel Haig

In a deal that may ratchet up competition for staking giant Lido, MakerDAO, the No. 1 DeFi protocol, has embraced Rocket Pool’s liquid staking derivative (LSD) token. Users can now use that token, rETH, as collateral for minting Maker’s DAI stablecoin. Oasis.app, a popular portal for MakerDAO, also launched support for rETH. Users can access leveraged exposed to rETH using Oasis’ “Multiply” feature. 

Read the full story on The Defiant

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FTX Crisis: Regulators

FTX Hack Mystery Deepens with Statement from Bahamian Regulators

Nearly $500M Was Drained From Bankrupt Exchange On Nov. 11

By Aleksandar Gilbert

Bahamian regulators are not responsible for the $477M hack of bankrupt crypto exchange FTX on Nov. 11, according to blockchain research firm Chainalysis. Chainalysis is among several firms hired by FTX’s new leadership to assist in bankruptcy proceedings, according to court documents filed this week. 

“Some funds were stolen, and other funds were sent to the regulators,” Chainalysis said on Twitter. 

Read the full story on The Defiant

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FTX Crisis: Contagion

Grayscale Reassures Investors After Sister Firm Seeks Emergency Funding

By Owen Fernau

Grayscale, the issuer of the world’s largest publicly traded crypto fund, is hoping to reassure investors that the digital assets backing its products are safe. Grayscale is owned by Digital Currency Group, which is being scrutinized by investors after another subsidiary, Genesis Global Capital, reportedly sought an emergency loan of $1B last week in the wake of FTX’s collapse.

Read the full story on The Defiant

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DEXs

Uniswap Riles Up Users With Plan to Share Wallet Addresses

New Privacy Policy Says Exchange May Share Personal Data in Certain Cases

By Samuel Haig 

Uniswap, the top decentralized exchange by trade volume, is taking flak after its new privacy policy revealed on Nov. 17 that Uniswap Labs may share wallet addresses with third parties in the event of regulatory or legal proceedings.

Read the full story on The Defiant

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Opinion

How Zero Knowledge Proofs Can Restore Digital Trust

New Technology Can Deliver a User-Controlled Web and Propel the Expansion of DeFi

By Evan Shapiro

Cryptography and encryption have enabled a degree of trust on today’s internet that allows us to use our passwords without having to think about whether someone will be able to watch our connections and steal them. 

Read the full story on The Defiant

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Defiant Video

FTX Hacker is on the move

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FTX Fallout’s Ugliest Turn Yet

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JPMorgan’s First DeFi Trade: Behind The Scenes

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Trending News

• Crypto Users Jump to DeFi Platforms in Wake of FTX’s CeFi Crash - Nansen Data Show Double-Digit Jumps in Users at MakerDAO, Aave, and Other Protocols

• Solana Endures ‘Crucible’ as FTX Connection Deletes 70% of TVL - Fall of SBF’s Empire Rocks Layer 1 As It Was Rebounding From Tough Year

• FTX Leadership Borrowed Over $1B From Alameda - Incoming CEO John Ray Cites ‘Complete Absence of Trustworthy Financial Information’

• DeFi Users Jump But Boom is a Mirage: Chainalysis - Data Shows Activity Spike Came from Existing Users and MEV Bot

• SBF Rues FTX Bankruptcy Filing As Screws Tighten: Report - Bankman-Fried Says Altruist Persona Was ‘Just PR’ in Wide-ranging Interview with Vox

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🧑‍💻 ✍️ News stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, yyctrader, and contributors, and are edited by Edward Robinson, yyctrader and Camila Russo. The video team is led by Alp Gasimov. The podcast is led by Camila.

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