In today's episode, we delve into a cascade of events that have recently unfolded in the cryptocurrency sphere, starting with a significant exploit at Stars Arena. The platform, recognized as the Avalanche clone of Friend Tech, encountered a smart contract exploit leading to a drain of $3M. This incident not only raises questions about the platform's security measures but also casts a spotlight on the broader implications for decentralized finance platforms and their vulnerability to hacks. We’ll dissect the incident, exploring the mechanics of the exploit and its immediate and potential long-term impacts on both the platform and its user base.
In This Episode
- New SocialFi Platform Stars Arena Drained for $3M by Smart Contract Exploit
- Thorswap's Ongoing PR Battle and Thorchain Down 12% Despite Continuation of Decentralized Services
- Wang's Testimony to Bury SBF and Ellison's Will Likely Be Even Worse for Him
- From $33T to $33.513T in 18 Days, $28.5B Debt Added Per Day - On Pace for Another Trillion in 1.5 Months
- Joe Rogan Says Bitcoin "has the most likely possibility of becoming a universal, viable currency", cites convos with Andreas
Meanwhile, Thorswap is navigating through a PR storm that has seen its token plummet by 40%, a crisis that has also impacted Thorchain, despite its decentralized services continuing unabated. We'll explore the roots of this PR crisis, the community’s response, and the potential pathways for recovery. Simultaneously, the trial involving Sam Bankman-Fried (SBF) has taken a dramatic turn. Wang’s testimony has posed significant challenges for SBF and Caroline Ellison, with further complications anticipated as Ellison is set to testify next. We'll delve into the trial's developments, exploring the intricacies and potential outcomes of this high-profile case.
In a lighter vein, Joe Rogan, a renowned podcast host, has expressed his support for Bitcoin, labeling it as the currency with the "most likely possibility of becoming a universal, viable currency." This endorsement, especially considering Rogan’s extensive reach and influence, could potentially sway public perception and adoption of Bitcoin. Additionally, we will also discuss the alarming acceleration of the national debt, with an addition of $28.5B per day, exploring its implications for the economy and the cryptocurrency market.
About LeoFinance
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage & share micro and long-form content on the blockchain while earning cryptocurrency rewards.
Our mission is to democratize financial knowledge and access with Web3.
Twitter: https://twitter.com/FinanceLeo
Discord: https://discord.gg/E4jePHe
Whitepaper: https://whitepaper.leofinance.io
Our Hive Applications
Join Web3: https://leofinance.io/
Microblog on Hive: https://leofinance.io/threads
Build a Microblogging Community on Hive: https://leofinance.io/communities
Delegate HIVE POWER: Earn 16% APY, Paid Daily. Currently @ 3.8M HP
Hivestats: https://hivestats.io
LeoDex: https://leodex.io
LeoFi: https://leofi.io
BSC HBD (bHBD): https://wleo.io/hbd-bsc/
BSC HIVE (bHIVE): https://wleo.io/hive-bsc/
Earn 25%+ APY on HIVE/HBD: https://cubdefi.com/farms
Web3 & DeFi
Web3 is about more than social media. It encompasses a personal revolution in financial awareness and data ownership. We've merged the two with our Social Apps and our DeFi Apps:
CubFinance (BSC): https://cubdefi.com
PolyCUB (Polygon): https://polycub.com
Multi-Token Bridge (Bridge HIVE, HBD, LEO): https://wleo.io