Ian's Intel
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Stay ahead with crypto news & alpha.

Disclosures: https://x.com/iansintel/bio
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Ian's Intel
FTX files for recovery against Layer Zero and its senior employee. - Layer Zero: $21M - Ari Litan: $13M - Skip & Goose: $6.5M h/t: sunil_trades official docs: https://restructuring.ra.kroll.com/FTX/Home-DocketInfo Could this affect ZRO launch? πŸ€”
[IanGPT] CEO of Layer Zero Responds to FTX Suit

β€’ CEO labels FTX lawsuit as "unsubstantiated," cites year-long ignored communication on share ownership.
β€’ Refutes preferential withdrawal claims; notes personal deposits of millions before FTX's bankruptcy.
β€’ Withdrawals mostly for standard gas rebalancing between L1 currencies.
β€’ Criticizes FTX's "outrageous" gross withdrawal-based accounting.
β€’ Tried to repurchase STG tokens; claims FTX counsel lacks basic blockchain knowledge.
β€’ Condemns FTX's "mudslinging," eager to settle in court.

Source
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Squid Router Enables Cosmos <> EVM Swaps

https://twitter.com/squidrouter/status/1701228161571377491
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[IanGPT] Visa Deep Dive on Solana

β€’ Visa sees Solana as a promising blockchain for mainstream payments.
β€’ High Transaction Throughput: Solana averages 400 TPS, surging to 2,000 TPS at peak, compared to Ethereum's 12 TPS.
β€’ Parallel Processing: Solana's multi-threaded design enables simultaneous transaction execution, improving efficiency.
β€’ Low Costs: Transaction fees under $0.001, predictable due to localized fee markets.
β€’ Fast Finality: Targets 400ms slot time, uses "optimistic confirmation" for quick transaction finality.
β€’ High Availability: 1,893 active validators, 925 RPC nodes, diverse geography.
β€’ Multiple Validator Clients: Increases network resilience.
β€’ Visa plans to test Solana in its stablecoin settlement pilot for corporate treasury operations.

Source
[IanGPT] Mantle Partners with Ondo Finance for RWA Stablecoin USDY

- USDY is a tokenized note backed by US Treasuries and bank deposits
- USDY holders earn yield, currently at ~5% APY
- users do not need to onboard with Ondo to acquire or trade USDY
- users who want to mint USDY have to onboard with Ondo, and require KYC to do so. this is available to "nearly all non-US individuals and institutions"

- USDY will have two forms, a rebasing & accumulating form:
β€” accumulating form (native form): redemption value increases based on interest rate set by Ondo
β€” rebasing form (launching mid-October): wrapped USDY (rUSDY), value stays pegged at $1, interest accrued via new rUSDY tokens

News Source
rUSDY Mechanics
ENS Domains Allegedly* Suffers Data Leak After Breach and Dump by SiegedSec

https://x.com/officer_cia/status/1701569495658123601
Metamask Snaps Launches Open Beta
Now live in v11.0+ of Metamask

- Snaps are like browser extensions, but for Metamask
- Snaps augment and enhance user experience and Metamask capabilities beyond the base wallet app
- e.g. with the Leap Cosmos Wallet Snap, users can connect to and interact with Cosmos dApps directly from Metamask

- 34 snaps live, allowing access to non-evm blockchains like solana, cosmos, aptos, sui, algorand, arweave, tezos, starknet

Official Tweet
Snaps Directory
Franklin Templeton Files for Spot BTC ETF

SEC Filing
Native USDC Officially Live on Cosmos

- USDC is now live on Cosmos and minted on the Noble blockchain
- businesses and institutions can access on/off ramps for Noble USDC
- CCTP will launch on Noble's testnet later this month, mainnet soon after

https://x.com/circle/status/1701582597376336173
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Forwarded from Zoomer News
SEC REVIEWING GRAYSCALE RULING, BITCOIN ETF FILINGS: GENSLER: BBG
Forwarded from Investigations by ZachXBT
It appears the hot wallets for CoinEX are currently being drained for $30M+ so far on ETH, TRON, Polygon.

ETH
0x8bf8cd7F001D0584F98F53a3d82eD0bA498cC3dE
0x483D88278Cbc0C9105c4807d558E06782AEFf584
0xCC1AE485b617c59a7c577C02cd07078a2bcCE454

TRON
TPFUjxQzG88Vwynrpj2W61ZAkQ9W2QYgAQ

Polygon
0x4515bE0067E60d8e49b2425D37e61c791C9B95e9