🦎🚀 Sawasdee from Binance 🇹🇭

Monday, May 29, 2023

Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox!

Hack after hack

Jimbo Protocol, a decentralized finance (DeFi) project, was hacked for $7.5 million over the weekend.

The attacker exploited a vulnerability in the main contract to take out a flash loan, manipulate the prices of Jimbo (JIMBO), and walk out with treasury funds. Jimbo is now working with security researchers to reclaim the lost funds and has threatened to contact law enforcement if the attacker does not return the money.

In today's news, Binance expected to launch in Thailand, first BRC-20 stablecoin appears, and Temasek cuts salary of staff responsible for FTX investment.

Read on!

Peak in #memecoin TikTok Interest

The recent meme coin rally saw TikTok searches for #memecoin double from 2021's highest level.

This period also generated 26.3% of all #memecoin content and 19.0% of all views – a sign that TikTok is an increasingly relevant crypto channel?

24h Hot Searches Worldwide

Pepe (-0.1%)
tomiNet (+1.1%)
Ethereum (+3.2%)
Bitcoin (+2.7%)
Arbitrum (+5.1%)
Open Campus (+17.1%)
Lybra Finance (+41.4%)

Incoming LayerZero airdrop?!🪂 In this video, let's learn about its technology and ecosystem, along with the steps to qualify for a potential airdrop 👀

Let's find out here!

Expansion to the land of smiles

Binance has received digital asset operator licenses from Thailand's Ministry of Finance for its joint venture with Gulf Innova.

The licenses, granted by the country's Securities and Exchange Commission, ensure regulatory compliance for the upcoming crypto exchange and broker. Binance's Thai platform is expected to launch sometime in Q4 2023.

Decrypt

A BRC-20 stablecoin?

Stably, a fiat onramp for crypto trading, has introduced Stably USD (USDS) as the first BRC-20 stablecoin on the Bitcoin network.

BRC-20 tokens, similar to NFTs, allow for non-financial data to be added to the Bitcoin blockchain without the need for a sidechain. However, there are concerns about Stably's documentation discrepancies and slow start. Stably claims regulated custodian Prime Trust holds the reserves for USDS, and that monthly attestations are conducted to ensure collateral matches what's been issued.

Decrypt

Voluntary pay cut

Singaporean sovereign wealth fund Temasek has reduced the pay of staff involved in its investment in collapsed crypto exchange FTX.

An internal review found no misconduct but the team and senior management held themselves accountable, resulting in compensation cuts. Temasek had invested $275 million in FTX and FTX U.S., but wrote off the investments to zero after FTX filed for bankruptcy.

The fund expressed disappointment with the outcome and the negative impact on its reputation. Meanwhile, FTX's founder, Sam Bankman-Fried, faces accusations of fraud and awaits trial, while three members of his inner circle have pleaded guilty.

The Block

Exquisite NFT collection draw

A few words about WhiteBIT

WhiteBIT is one of the largest European centralized crypto exchanges with 350+ trading pairs and 270+ digital assets, including its native token WBT, 10+ national currencies, spot, margin, and futures trading with up to 20x leverage and 24/7 support. The platform is also one of the 3 safest crypto exchanges with the highest AAA rating according to the audits of Hacken.io and the CER.live certification platform.

Learn about how to read a smart contract audit, in this article by Cyberscope. We'll also take a look at some examples of critical findings and how these can potentially expose your funds to additional risk.

Find out more at https://gcko.io/fr2m1py