🦎🚀 Bad Sushi 🍣🐛

Monday, April 10, 2023

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Bad sushi

A bug introduced into SushiSwap four days ago was exploited late Saturday to drain about $3.3 million worth of Ethereum from a single user's account.

That user happened to be no other than the controversial 0xSifu, who was targeted by an "approve-related bug" which led to 1,800 ETH being stolen.

In today's news, Bitcoin miners awarded same rights as data centers in Arkansas, Ethereum staking deposits declines, and Bitget launches new $100m Asian Web3 fund.

Read on!

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Equal Rights

A new bill aimed at regulating Bitcoin mining in Arkansas has been approved by both the House of Representatives and Senate and is now awaiting Governor Sarah Huckabee Sanders' signature.

The Arkansas Data Centers Act of 2023 seeks to establish guidelines for Bitcoin miners and protect them from discriminatory regulations and taxes, guaranteeing that firms have the same rights as data centers.

Decrypt

Staking Takes a Dip

According to on-chain analytics company Glassnode, Ethereum staking deposits have declined slightly in recent weeks due to increased regulatory pressure and the Shapella upgrade slated for April 12.

Financial regulators in the United States have been coming down hard on crypto this year. The Securities and Exchange Commission is adamant that ETH is a security and has cracked down on staking despite there being no official legislation from Congress classifying ETH as such.

CoinTelegraph

Funds Still Flowing

Crypto derivatives exchange Bitget launched a new $100m fund focused on supporting the next generation of Web3 projects, with a focus on Asian projects from experienced teams with clear roadmaps.

According to the exchange, potential partners in the initiative include several venture capitalists such as Foresight Ventures, ABCDE Capital, SevenX Ventures and DAO Maker, as well as Dragonfly Capital.

CoinTelegraph

On-chain analysis uses blockchain data to predict trends and gauge market sentiments. Find out how to analyze on-chain metrics and what tools are available to help visualize on-chain data.

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