Episode Details

06th July: Crypto & Coffee at 8 🎙️
🔻Global Crypto Fear but Greed Index 🔺✋🏻Web3 Losses $656m, ❌Binance Labs Aus under scrutiny 🔴Spill and Threads, new Twitter rivals

📊The Fear & Green Index is at 63 (GREED) via CoinMarketCap but the global crypto market has been slightly down since the last 24 hours.
Glassnode weekly insights discuss The Surge in Liquid Staking. Their insight states Since the Ethereum Shanghai upgrade, a very clear market preference for liquid staking tokens has emerged. Lido’s stETH maintains an impressive dominance, with DeFi capital flows suggesting it has become a preferred collateral asset. Detailed info here https://lnkd.in/dzTYmbN7 Also see slides 1 & 2 below we cover this daily in our podcast so check out Blockchain DXB Crypto & Coffee at 8 podcasts where we discuss this in great detail and we also share commentary on #defi, #stablecoins, latest trends & more

🚨 Web 3.0
❗ Beosin Web3 security has reported that In the first half of 2023, the Web3 industry lost as much as $656 million to hackers, phishing scams and the so-called rug pulls. Info here https://lnkd.in/dtjMVMv5 The report shows
- Hackings alone accounted for approximately $471 million, nearly 72% of the total losses
- Phishing scams accounted for almost 17% of the total losses ($108.3 million)
- Rug pulls, which rocked decentralized finance in 2021, accounted for the remaining $75.87 million.

❌ Binance is under increased scrutiny as Australia’s financial regulator reportedly conducted office searches. Last Thursday Australia’s financial markets regulator, the Australian Securities and Investments Commission (ASIC), reportedly conducted searches at the exchange’s local offices of Binance in Australia Bloomberg’s article states The move is part of an ongoing investigation into the now-defunct local derivatives business of the exchange Article here https://lnkd.in/dTzEEYBh The sources have not been confirmed yet though.

🔵 Twitter competitors: Spill and Threads
🔷 Meta is set to launch Threads, an app similar to Twitter. Threads.net is launching in less than 24 hours “Threads, an Instagram App”, the text-based conversation app will be linked to a user’s Instagram account.

🔷 Spills: Decrypt has reported that The Spill app is the brainchild of two former Twitter executives, Alphonzo “Phonz” Terrell and DeVaris Brown, who told AfroTech that they are building this app with the h