Episode Details

12th June: Crypto & Coffee at 8

🚀CPI & FOMC both today🚀 SushiSwap’s new business model 🚨Uwulend Exploited for $20 Million 🚨 Polygon- $720M blockchain grants ⚡Australian MP on Blockchain tech !

🚀 Bidenflation (Consumer Price Index) & FOMC meeting by Federal Reserve Board are both schedule to take place today in the USA. How will this impact the price of #BTC & Rest of the crypto market? Check out Blockchain DXB podcast we share more information on this & more

🟤 SushiSwap is now managed by Sushi Labs, an autonomous company that will operate under a council structure similar to Synthetix.

On June 11 SushiSwap launches Sushi Labs, combining a DAO with council governance to improve decision-making. Despite debates on centralization, the model aims to engage the community in governance through council elections. The protocol adapts to financial challenges with revised tokenomics, targeting liquidity issues and enhancing rewards for token holders. Info here https://lnkd.in/dREQkF3E

🟢 Uwulend, an Ethereum-based lending protocol, was exploited for $20 million through three transactions converting Wrapped Bitcoin and DAI into Ether. The attack was detected by Cyvers Alerts early Monday. Uwulend has paused operations to investigate. The attacker’s wallet currently holds 1,282 ETH ($4.7 million), and the UWU token fell 3% to $2.91, continuing its 80% decline over the past year. The exploit stemmed from a price oracle issue across five tokens, manipulated through Tornado Cash. Uwulend, created by controversial QuadrigaX co-founder Sifu, has seen its total value locked drop to $66 million from a $115 million peak in April. More info via The Defiant here https://lnkd.in/d5rYxQsA

🟣 Polygon has launched a $720 million Community Treasury dedicated to supporting blockchain projects over the next 10 years. The CGP offers two tracks: the General Grant Track for all projects and the Consumer Crypto Track for everyday blockchain applications. Applications are open from June 11 to August 31. Ajit Tripathi said this to Cointelegraph more info here https://lnkd.in/dyKRfZzh

🚨 Australian MP Andrew Charlton stressed the need for blockchain technology to boost Australia’s economy by $60 billion and counteract slow productivity growth. At Australia’s Blockchain Week 2024, he noted productivity growth has declined from 2.1% in the 2000s to 0.9% in late 2023. Charlton highlighted blockchain’s potential to enhance various sectors and criticized the slow progress in digital asset regulation. He urged for a regulatory framework and tech skills development to attract digital asset startups, aiming to position Australia as a leader in digital asset innovation. Info via Cointelegraph https://lnkd.in/dqWQpVxn

🟠 Two UAE news

⚡ ADGM and the Bermuda Monetary Authority Sign a Digital Assets Memorandum of Understanding

⚡ How to Start a Podcast on the 09th of July register via Eventbrite here 

Listen Now