Is Anybody Out There?
I'm going to be honest, DeFi rates are not good right now. I can risk my stables in DeFi for 3%, or I can leave it in Coinbase (its own risks) and make 3.5% in Bitcoin. The risk/reward just isn't out there right now if you prefer to stay away from looping strategies. If that's your thing, there are some decent rates out there, but it's just not how I roll. Here's a snapshot from Lulo today on USDC.
Prices are stagnant. Like the previous week, we looked good for about 24hrs and then retraced it all. We hit the resistance levels, and found resistance without busting through beyond. No short squeezes, just hit the wall and bounced back towards support levels. If $BTC breaks below $65k, we've got more steps down to closer to the $60k-62k level. $SOL needs to try and hold around $80. If we break below $75, the next down target is around $65. We are basically just playing ping pong right now between support and resistance.
Weekly Charts
We finally have some clarity, but not CLARITY
The SEC Clarifies the Application of Federal Securities Laws to Crypto Assets. TLDR; Tokens are not securities, nft's are not securities, etc.
- Digital Commodities – NOT Securities
- Digital Collectibles – NOT Securities
- Digital Tools – NOT Securities
- Stablecoins – GENIUS Act Stablecoins NOT Securities
What is classified as a Security? Funny you ask. A security that's been tokenized.
Exploit Alert!
Resolv (@ResolvLabs @ResolvCore) $USR has been exploited for $50m. It has rippled across EVM DeFi platforms and pools on Morpho and more. Resolv took 3 hrs to make a statement and everyone's been scrambling. The attacker used 200K $USDC to mint 80M $USR, converted USR > stables > ETH. They got 11,437 ETH, then repeated the exploit multiple times. Funds are still on the move and being converted. USR has dropped -85%
More privacy options in Solana wallets - Hinkal
Hinkal (@hinkal_protocol) Wallet is out on Solana with a browser extension wallet with private balances, private DeFi, auto-shielding, and viewing keys for compliance. A full wallet experience with privacy built in.
Hinkal Pay - receive and pay in stablecoins with full confidentiality. Cryptographic privacy that encrypts sender, recipient, and amount. No CEX in between.
Hinkal Send - send to one or multiple recipients privately. Shielding, randomized delivery windows, and amount splitting for stronger privacy guarantees.
Hinkal SDK - privacy infrastructure for builders.
I haven't tried them out yet, but I'm always happy to see more options. I tend to test these out with small amounts and give them some time. Their wallet currently has 25 reviews, so it's new.
If you took part in the Ranger ICO, go get back what money you can
RNGR was a total dumpster fire. If you took part in their ICO via MetaDAO (@MetaDAOProject), you can redeem your ranger tokens for USDC. You have 8 months to claim your money back.
Big week?
Apparently this is how slow things are right now. Solana and Raydium are just simply saying "big week". I think this sums up the lack of news happening and I hope there's something good from someone.
Stay Free • Ebullition
