Analysis Crypto by Thebittimes.Com

Author: Web3Mario Translation: WuBlockchain Abstract: I came across an interesting piece of information about Compound being subjected to a governance attack. Having been involved in DeFi for quite some time, this piqued my interest, and I decided to delve deeper into the details behind this event. I will break down the implementation details and share them with you. In summary, the governance attack on Compound involved a DeFi whale attempting to forcibly seize governance control of idle Comp tokens in the Compound Treasury through governance voting, thereby gaining full control over the Compound protocol. The Legendary Whale Humpy Strikes Again, After Successfully Seizing Control of Balancer This is not the first time this legendary whale has made a move. Previously, during the DeFi Summer of 2022, the whale carried out a governance attack on Balancer. By acquiring a large amount of BAL governance tokens and leveraging Balancer's veBAL mechanism, the whale gained control over th...

1. The zkSync airdrop allocation has sparked controversy link ZKsync will conduct a one-time airdrop next Monday to 695,232 eligible wallets, distributing a total of 3.675 billion ZK tokens, which represents 17.5% of the total supply of 21 billion ZK tokens. Additionally, 49.1% of the token supply will be allocated through the ecosystem plan, with 17.2% going to investors and 16.1% to the Matter Labs team. The airdrop eligibility and distribution are based on a snapshot of ZKsync Era and ZKsync Lite activities taken at 00:00 UTC on March 24, 2024, marking the first anniversary of the ZKsync Era mainnet launch. The airdrop is based on a points system, where wallets earn points through certain actions, such as interacting with 10 smart contracts on ZKsync Era, providing liquidity to DeFi protocols, and trading more than 10 types of ERC-20 tokens. Points can also be earned through activities on ZKsync Lite, like donating to Gitcoin rounds or trading in the three months before the ZKsyn...

Author: Bitrace Airdrops are marketing events in which DeFi protocols distribute tokens for free to early active community members as a way to reward their early support and encourage continued use of the protocol. For example, on March 23rd, the Layer 2 protocol Arbitrum conducted an airdrop in which 625,000 individual active wallets received nearly 1.16 billion $ARB tokens, with each address receiving between 625 and 10,250 tokens. Based on the $ARB price of $1.63 at the time, each address received between $7,000 and $114,900 worth of tokens. The wealth effect of $ARB attracted more newcomers to join the army of people trying to get airdrops. However, due to newcomers’ lack of experience with on-chain protocols and unclear background and positions of unreleased projects, it can be challenging to predict a project’s token release time, expectations, and the interaction rules for airdrops. To guide these newcomers, KOLs started writing airdrop tutorials. Consequently, various airdrop t...

Author：Lily Editor：Colin Wu 1. Hong Kong’s weekly summary 1.1 Chinese banks court crypto firms in Hong Kong after mainland ban link The Hong Kong arms of Bank of Communications Co., Bank of China Ltd. and Shanghai Pudong Development Bank have either started offering banking services to local crypto firms or have made inquiries to the field. Sales representatives from one Chinese bank even visited the office of a crypto company to pitch its services. 1.2 HK regulators to host meeting to help crypto firms with banking link Hong Kong regulators are convening a meeting between crypto firms and bankers in a bid to ease financing for the sector as the city seeks to establish itself as a hub for virtual assets. The round-table will take place on April 28 at the Hong Kong Monetary Authority “to facilitate direct dialog” and “share practical experiences and perspectives in opening and maintaining bank accounts”. 1.3 CEO of HK SFC: Cryptocurrency platforms are part of the Web 3.0 ecosystem lin...

Top10 News 1. Bitcoin mixer ChipMixer shut down and assets seized in money laundering probe link On March 15, authorities in Germany and the United States shut down the infrastructure of Bitcoin mixer ChipMixer and seized four servers, 1909.4 Bitcoins and 7 TB data. Investigation shows that ChipMixer may have facilitated the laundering of 152,000 bitcoins. 2. Coinbase announced a new strategic banking partner ship with Standard Chartered link On March 15, Coinbase announced a new strategic banking partner ship with Standard Chartered, as well as an upgraded retail platform, Singpass, where customers in Singapore can transfer funds to and from their Coinbase accounts for free using any local bank in Singapore. 3. Signature Bank’s weekly summary a. Depositors can get their money back in full after the Fed rescues the market link The Fed and Treasury created an emergency program to backstop deposits at both Signature Bank and Silicon Valley Bank using the Fed’s emergency lending authorit...

Top10 News 1. The Fed announced a rate hike of 25 bps as scheduled link The statement has repeatedly emphasized that it will adhere to the ultimate goal of 2% inflation. Markets expect to raise interest rates again in March and May. Crypto rose briefly after the FOMC announcement. 2. Damus’ weekly summary a. Nostr, a decentralized social network , has launched an app called Damus link Nostr, a decentralized social network that Twitter co-founder Jack Dorsey previously donated BTC to, has launched an app called Damus on the Apple App Store and Google Play Store. Jack also changed his twitter bio to #bitcoin #nostr, along with his Damus address. b. Damus saw more than 40,000 new accounts created on its first day of operation link The Nostr-based Damus social network saw more than 40,000 new accounts created on its first day of operation. New accounts that generate public and private keys will follow the Damus official account. Currently, the account has more than 40,000 followers an...