Hot Take: Friend.Tech Generates Impressive Fees and Denies Data Leak
Friend.Tech, a social app, has experienced a significant increase in protocol fees, ranking it among the top three projects for fee generation. This places it just behind Ethereum and Lido. The app generated over $1.4 million in fees within a 24-hour period. However, the team has vehemently denied claims that the personal data of over 100,000 users was leaked.
Here are the key points from the content:
– Ethereum: Ark Invest and 21Shares are partnering to apply for an Ethereum Futures ETF. Bitstamp will end Ethereum staking services for US customers due to regulatory concerns. Farcaster’s decentralized social media protocol is migrating to OP Mainnet.
– DeFi: Shiba Inu’s Shibarium network is preparing for a fresh launch. API3 is launching a data feed service suite for Polygon zkEVM. The dYdX foundation has published guidelines for validators and stakers.
– Altcoins: The PEPE token’s price declined after numerous meme tokens flooded major crypto exchanges. A phishing site took over the Terra website, leading to a freeze.
– Technology: Bored Ape Yacht Club will remove support for OpenSea’s Seaport Protocol.
– Business: Shopify now accepts USDC payments through Solana Pay. Bitget has introduced the Bitget Protection Fund. Dropbox has implemented a metered storage plan to prevent crypto miners’ excessive usage. Binance Pay is now available in the Brazilian market, while Binance is withdrawing its crypto payment credit card in Latin America and the Middle East. Coinbase and Circle have announced changes to the governance and funding of USD Coin.
– Regulation: The SEC has charged a former corrections officer for his involvement in a cryptocurrency scam. The FBI has identified six Bitcoin wallets allegedly connected to North Korea and US sanctions violations. FTX founder Sam Bankman-Fried has pleaded not guilty to new charges. A US District Judge has dismissed an appeal by Tornado Cash users seeking to lift sanctions.
– Security: Magnate Finance, a lending and borrowing protocol, allegedly orchestrated a rug pull. Balancer disclosed a critical vulnerability affecting over 100 v2 pools across multiple blockchains.
In conclusion, Friend.Tech’s fee jump places it among the top fee-generating projects. The crypto market continues to see developments in technology, business, regulation, and security.
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