Crypto Morning Brief: Radiant hacked for over $50 million, a16z co-founder claims no involvement in or holdings of GOAT token

2024.10.17

Crypto Morning Brief: Radiant hacked for over $50 million, a16z co-founder claims no involvement in or holdings of GOAT token

The probability of Trump being elected president on Polymarket has risen to 60.1%, a record high.

2024.10.17 - 02:12:34

Radianta16zGOAT

Navigating Web3 tides with focused insights

The probability of Trump being elected president on Polymarket has risen to 60.1%, a record high.

Author: TechFlow

Yesterday's Market Dynamics

Radiant Capital Hit by Cyberattack, Loses Over $50 Million

According to information disclosed by security firm Ancilia, cross-chain lending protocol Radiant Capital suffered a cyberattack resulting in losses exceeding $50 million. Radiant is controlled via a multi-signature wallet ("multisig"). Attackers reportedly gained control of multiple signers' private keys, subsequently taking over several smart contracts.

Arkham data shows the attack originated on Radiant’s Arbitrum network before spreading to the BNB Chain. The suspect’s wallet currently holds over $32 million worth of Arbitrum-based assets and approximately $18 million in BNB Chain tokens.

Robinhood Enables Bitcoin Futures Trading in App

Robinhood has launched its long-anticipated desktop platform and added futures and index options trading to its mobile app, including instruments tied to stock indices, bitcoin, energy, metals, and currencies.

Binance Labs Invests ~$1M in Bitcoin Liquid Staking Platform Lombard

According to The Block, Binance Labs has invested in Lombard, a liquid staking platform for Bitcoin. Lombard’s total funding now stands at around $17 million—up slightly from its $16 million seed round about four months ago—with Binance Labs contributing approximately $1 million.

Lombard’s LBTC has already been used as collateral across various DeFi protocols for lending, yield farming, and trading. This investment by Binance Labs is expected to further drive Bitcoin adoption and growth within the DeFi ecosystem.

VanEck: Made Two Long-Term Investments in Web3 Gaming, One in Parallel

Asset management giant VanEck announced two long-term investments in the Web3 gaming sector. One investment targets Parallel, an AI-powered blockchain game project; details of the second remain undisclosed, though VanEck says more information will be released soon.

Gabe Rabello, a member of VanEck’s digital assets strategy team, stated on social media that the company views gaming as one of the most promising sectors in this market cycle. VanEck specifically disclosed holding PRIME/PROMPT tokens from Parallel.

Polymarket: Trump’s Odds of Winning Presidency Rise to 60.1%, a New High

Data from prediction market Polymarket indicates Donald Trump’s probability of winning the 2024 U.S. presidential election has risen to 60.1%, a new record high. Vice President Kamala Harris’ odds stand at 39.8%.

NYDIG: Bitcoin Performance Matches Prior Cycles, Q4 Could Be Strongest Quarter

NYDIG released its "Q3 2024 Review and Outlook," stating that historically, Q4 tends to be one of Bitcoin’s strongest quarters. Key catalysts investors should watch include elections, monetary easing, resolution of lingering uncertainties, and geopolitical instability. While some may feel frustrated with the past six months of range-bound trading, rest assured—Bitcoin’s performance remains perfectly aligned with levels seen in the previous two cycles.

$WLFI Token Terms: Non-Transferable for at Least One Year, No Secondary Market Planned

Trump family-backed crypto project World Liberty Financial has updated the terms and conditions for its $WLFI token sale. Key points include:

$WLFI is solely for governance purposes and not intended as an investment vehicle;
The token grants no economic rights or ownership;
All $WLFI tokens are currently indefinitely locked in wallets or smart contracts and are non-transferable;
If future protocol governance procedures aim to unlock transferability, they must meet these conditions: confirmation that applicable laws are not violated, and at least 12 months must pass after the token sale concludes;
Given the non-transferable nature of the tokens, the company is currently taking no action and does not plan to create a secondary market;
Tokens are non-refundable after purchase unless required by law;
WLF reserves the right to reject or cancel any token purchase request.

a16z Co-Founder: Did Not Participate in or Hold GOAT Token, Provided $50K Research Grant to Terminal of Truths

a16z co-founder Marc Andreessen clarified his relationship with Terminal of Truths and the GOAT token in a post on X. Andreessen stated he provided an unconditional $50,000 research grant this summer to Terminal of Truths and its founder Andy Ayrey to support independent AI research. He emphasized having no involvement whatsoever with the meme token GOAT—neither participating in its creation nor holding any tokens.

Arthur Hayes: Significantly Reduced Meme Coin Holdings Amid Escalating Middle East Tensions, Now Only Holds SCF

BitMEX co-founder Arthur Hayes said in his latest article that due to rising geopolitical risks, he has significantly reduced his previously held meme coin positions. Currently, the only meme coin he holds is SCF.

Hayes noted that given escalating tensions in the Middle East, particularly between Iran and Israel, he is prepared for substantial depreciation in his portfolio. Nevertheless, he has not instructed Akshat, investment lead at his fund Maelstrom, to slow down or halt investments in presale tokens.

For idle fiat capital held by Maelstrom, Hayes plans to stake it on the Ethena platform to earn significant interest while waiting for favorable entry points into less liquid cryptocurrencies.

Vitalik: Ethereum Will Achieve Over 100,000 TPS via L2s in the Future

At the 10th Global Blockchain Summit in Shanghai, Ethereum co-founder Vitalik Buterin delivered a speech stating, “In the future, Ethereum can achieve over 100,000 TPS through Layer 2 solutions. Transfers between any chains could take under two seconds, and we’ll also achieve a unified user experience. Ethereum’s infrastructure continues expanding, and secure bridging is even more important than EVM compatibility.”

Vitalik also pointed out that Ethereum’s main current issue is the lack of a unified ecosystem—today’s Ethereum resembles 34 separate chains, whereas it should evolve into one cohesive ecosystem. Solutions such as chain-specific addresses could help resolve this.

Crypto Morning Brief: Radiant hacked for over $50 million, a16z co-founder claims no involvement in or holdings of GOAT token

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