The Last 168 Hours in DeFi

Bitcoin rises despite the Fed showing no sign up letting up

ALPHA:

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Canto Investment Thesis

Great yields on DAMM Finance (VPN required from US) right now for the remainder of October.

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Check em out and make sure you read the Medium posts!

Website: https://damm.finance/

Twitter: https://twitter.com/dammfinance

Medium: https://medium.com/@dammfinance

MARKET:

Jason Goepfert @jasongoepfert

Full-on crash mode. Retail traders spent $18 billion buying put option protection last week, a record. They're holding $46 billion worth of index futures net short, a record. Leveraged traders are betting on very, very bad things happening very, very soon.

The retail side has never been more short the stock market, which coincided right at a major technical support level for both the SPX and QQQ last week. Unsurprisingly, the market has bounced sucking precious liquidity away from the retail traders.

Bitcoin has neared the top of the range between $18.5-20.5k alongside equities, but has not shown particular strength with fears for continued pressure from the Federal Reserve.

NEWS:

Interpol after Terra founder, Do Kwon. A good meme coin to be on Do Kwon’s capture is DKWON

Watcher.Guru @WatcherGuru

BREAKING: International Criminal Police Organization issues worldwide arrest warrant for Terra founder Do Kwon.

Big raise from Derebit, a leading crypto options platform:

db @tier10k

theblock.co/post/172752/de…

FTX acquires Voyager’s cryptoassets:

Voyager @investvoyager

Today, after a competitive auction aimed at returning maximum value to customers, @FTX_Official US was selected as the highest and best bidder. Press release linked below. More information about what this agreement means for customers to follow.

newswire.caVoyager Completes Successful Auction and Announces Agreement for FTX to Acquire Its Assets/CNW/ - Voyager Digital Ltd. (“Voyager” or the “Company”) (OTCPink: VYGVQ) (FRA: UCD2) announced today that after multiple rounds of bidding in a highly...

NFTs:

Music NFTs? Yes! Music NFTs!

db @tier10k

wmg.comWarner Music Group and OpenSea Join Forces to Expand Web3 Opportunities for Artists - Warner Music GroupWarner Music Group (Nasdaq: WMG), the global music and entertainment company, has announced a collaboration with OpenSea, the world’s leading...

Meta plans to incorporate users’ crypto wallets to the platform:

Meta Newsroom @MetaNewsroom

Everyone on @instagram and @facebook can now share their digital collectibles in the US, and on Instagram in the previously announced 100+ countries. Creators like artist Lívia Elektra are sharing their #NFTs on our apps. instagram.com/p/Ch730jmpCNT/ about.fb.com/news/2022/05/i…

REGULATORY:

CFTC punishes small DeFi Protocol and DAO. Regulation by enforcement setting a bad precedent for other DeFi Dapps/communities:

db @tier10k

"The Commission defines the Ooki DAO unincorporated association as those holders of Ooki tokens that have voted on governance proposals with respect to running the business" If you are an Ooki token holder who voted on governance proposals you just got charged...

db @tier10k

[DB] CFTC Charges Ooki DAO for for "Offering Illegal, Off-Exchange Digital-Asset Trading, Registration Violations, and Failing to Comply with Bank Secrecy Act"

CFTC on a roll this week:

db @tier10k

CFTC going after another derivative exchange, this time it's @Digitex_io

Kim Kardashian fined by SEC for shilling a shitcoin:

db @tier10k

The SEC today announced charges against Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. She agreed to settle the charges, pay $1.26 million

sec.govSEC.gov | SEC Charges Kim Kardashian for Unlawfully Touting Crypto Security

Seems good for decentralized stablecoins:

Mike Dudas (🏌️‍♂️, ⛳️) @mdudas

Powell says "the U.S. decided 'not to proceed' with the issuance of a central bank digital currency" theblock.co/post/173034/po…

Go Newsome!

Ron Conway @RonConway

Governor @GavinNewsom strong leadership will help CA continue to lead when it comes to developing the next chapter of the Internet. As a Californian, I am just thrilled to know we will continue to be the center of innovation. Lets go!

Chipotle threads about Ethereum’s switch to Proof of “steak”

Chipotle @ChipotleTweets

99.95% off a steak bowl anyone? Here's why 🧵

POD O’ THE WEEK:

Great discussion about ATOM 2.0 in the first 15 minutes:

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None of this is financial advice