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Cream Finance hacked (again) for $130M / Brazil's Nu Holdings planning NYSE IPO / Fresh Funding for Osmosis + Tulip

Plus: SHIB and 1INCH go to the moon, reaching new ATH after +100% gains.

Inside.com Part of   Network October 27, 2021

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The global crypto market cap is $2.48T 5.82%▼ with a 24-hour market volume of $181.83B 71.07%▲. Bitcoin's dominance is currently 44.92% 0.41%▲. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $58,842.94 5.12% ▼ 2 Ethereum ETH $3,985.68 6.62% ▼ 3 Binance Coin BNB $453.22 6.89%▼ 4 Cardano ADA $1.94 11.29%▼ 5 Solana SOL $189.26 8.07% ▼ Source: CoinMarketCap, 5:00 EST

Cream Finance was exploited in the third-largest DeFi hack to date and its third hack this year. The $130M flash loan attack brings Cream's total funds hacked in 2021 to $192.5M. More: Cream was hit by flash loan attacks in February and August for $37.5M and $25M, respectively. The price of CREAM sank 27% to $111 immediately after the hack was announced. BlockSec broke down an initial analysis of the flash loan attack on Twitter.  The unidentified hacker left the following note on the flash loan transaction: "gÃTµ Baave lucky, iron bank lucky, Cream not. ydev : incest bad, dont do." Analyst Take: Flash loan attacks are growing in popularity and pose serious actual and reputational risks to all decentralized ecosystems.  Poly Network ($611M) and Compound ($147M) rank ahead of Cream Finance on the Rekt DeFi hack leaderboard; however, the stolen funds were returned in both cases. Not including cases where funds were returned, DeFi hackers have taken over $500M since the start of 2020.

Brazil-based fintech firm Nu Holdings is reportedly planning an IPO on the NYSE. The firm is expected to IPO at a value of over $50M sometime in December. More: Nu Holdings is a digital bank last valued at around $30B. Warren Buffet’s Berkshire Hathaway invested $500M in Nu during its previous funding round in May. Nu posted its first profit back in Early October, realizing a net income of $13.7M from January to June 2021.

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TOP ETHEREUM NFT COLLECTIONS # Name 24h Volume 24h % 1 Axie Infinity $14.53M 10.73% ▼ 2 CryptoPunks $6.42M 3.97% ▼ 3 Bored Ape Yacht Club $3.04M 35.00% ▲ 4 Wall St Bulls $2.62M 655.47% ▲ 5 Boonji Project $2.50M 275.58% ▲ Source: DappRadar, 5:00 pm EST

🍋Fresh Funding🍋  Osmosis, DEX: $21M ⮕ The token sale funding round was led by Paradigm Ventures with participation from Robot Ventures, Nascent, Ethereal, Figment, and others. More: Osmosis is a Cosmos (ATOM) based decentralized exchange (DEX) offering liquidity pools for various decentralized trading. The token sale is set to be followed by the launch of “Superfluid Staking,” which will allow users to earn fees from all swaps as well as earn staking rewards. The funding round marks the first Cosmos project that Paradigm has invested in. Previously the VC fund has only invested within the Ethereum ecosystem. Tulip Protocol, DeFi/Yield: $5M ⮕ The token sale funding round was co-led by Jump Capital and Alameda Research with participation from Amber Group, Cadenza Ventures, CMS Holdings, FinTech Collective, and others. More: Tulip Protocol (formerly SolFarm) is a Solana (SOL) based crypto yield aggregation platform offering users the ability to stake tokens from the Solana ecosystem and earn yields. This fresh funding will help further the development of the protocol and expand the team with new developers. Tulip protocol is the seventh-largest SOL protocol, with over $800M worth of funds locked in the platform.

▲ TOP GAINERS # Name Price 24h % 1 Shiba Inu SHIB $0.00007761 63.41% ▲ 2 1inch Network 1INCH $5.67 39.13% ▲ 3 Helium HNT $25.43 2.62% ▲ 4 Waves WAVES $29.59 1.35% ▲ 5 THORChain RUNE $12.79 0.40% ▲ ▼  TOP LOSERS # Name Price 24h % 1 Internet Computer ICP $41.59 14.00%▼ 2 IOTA MIOTA $1.22 13.94%▼ 3 Mina MINA $4.50 13.74%▼ 4 Arweave AR $47.51 13.50%▼ 5 Tezos XTZ $6.03 13.44%▼ Source: CoinMarketCap, 5:00 EST *Limited to cryptocurrencies in the Top 100

Shiba Inu (SHIB) soared 133% in the last seven days, reaching an ATH of $0.00006918. SHIB lifted itself into the top 10 cryptos by market cap, briefly overtaking Dogecoin this morning. More: SHIB is an ERC-20 meme token created by a person with the pseudonym Ryoshi in Aug. 2020.  The token’s price spike came a few days after SHIB broke out of a symmetric triangle on Saturday. Speculation of a Robinhood SHIB listing has increased during the memecoin’s latest price rally.

A message from INDEED The tech job market is competitive, but we’ve got your back. Whether you’re a coding bootcamp graduate, an entry-level developer or interested in pursuing a career in tech, Indeed has resources to help your job search. Check out Indeed's top resources for tech talent: Easily search over 670,000 technology jobs in the United States including software engineer, product manager, UX designer and more. (Indeed data, 2021) Discover high-paying jobs and companies, and discover your worth with Indeed's salary calculator. Optimize your resume with proven templates for a range of tech roles. Learn how to stand out to employers with an Indeed Resume. Learn more

1inch (1INCH) reached an ATH of $8.65 after skyrocketing over 100% this morning. The token jumped from $4.18 to $6 in less than half an hour. More: 1INCH is the governance token for the 1inch DEX aggregator. Other DeFi tokens have experienced similar spikes today, including Aave (AAVE), which quickly increased 27.2% in 24 hours.  Following the massive jump, 1INCH has since settled down to a price of around $5.80.

QUICK HITS 66% of employees reuse passwords even when knowing the risks — create safer habits with a culture of security.* Binance Smart Chain (BSC) BEP-25 passed, creating a systematic token burn of Binance Coin (BNB) similar to Ethereum’s EIP-1559 upgrade. Bitcoin (BTC) dropped 2.2%, following back below $60,000 and liquidating $66M in a matter of minutes.  Musician Timbaland announced the drop of his Ethereum Music NFTs that collectors can mix and match to create new songs. Coinbase announced the listing of Kryll (KRL), LCX (LCX), SUKU (SUKU), and OriginTrail (TRAC) on Coinbase Pro. Blockchain-based game Spellfire announced the creation of 100 limited edition NFT gaming cards on OpenSea. Bitfarms announced the construction of two new mining farms in Canada, which could generate over 2 EH/s and accommodate 21,000 bitcoin mining rigs. Valid proof of consent is key to acquiring and using sales and marketing data ethically. Download the infographic to learn more.* * Sponsored Content

UPCOMING EVENTS: October 26 - October 27 - Meet Our Fund 2 (Register Here) October 28 - XR interview with Tripp CEO - Nanea Reeves (Register Here) November 03 - VC Crypto with Troy Osinoff (Set A Reminder) November 10 - The Subscription Model Deep Dive: Edtech & Fitness (Register Here) November 17 - Understanding Solana (Register Here) December 08 - The Business of Wellness (Register Here) December 16 - Alternative Investments (Register Here)

Griffin McShane is a New York transplant currently living in Brooklyn, NY. He is a graduate of Providence College, where he studied both computer science and business, and the University of Maine School of Law, where he earned his JD. Beyond his work at Inside, Griffin has written articles for CoinDesk and is a member of the International Association of Privacy Professionals (IAPP). Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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