Daily Digest - 19th October 2022

Headlines

▌Stephen Chow Opened Instagram Account and Released Dynamic Recruitment of Web3 Talents

It was reported on October 18 that Stephen Chow opened his first social account on ins and issued a talent recruitment order, "Looking for bright and outstanding Web3 talents in the dark to help me build a creative future", the specific requirements include familiarity with Web3, project management experience, being smart, and kind-hearted. Stephen Chow also said that he would personally pick people.

▌BAYC Co-Founder: It Is Not Surprising That NFT Is Concerned by the U.S. SEC

Greg Solano, co-founder of Bored Ape Yacht Club, said: "Considering everything that is happening, it is not surprising that NFTs are getting the attention of the SEC. Policymakers want to fully understand Web3, which is a new and unknown piece in the waters of Yuga Labs, we take our position as an industry leader, and we look forward to the opportunity to collaborate with other industries and policymakers to help shape the ecosystem.” According to previous Bloomberg news, the U.S. Securities and Exchange Commission is investigating BAYC’s parent company. News of possible securities breaches in the sale of Bored Ape NFT and ApeCoin tokens sent APE down more than 10%, and some legal experts say SEC Chairman Gary Gensler is apparently expanding his oversight to include NFTs.

Policies

▌U.S. Senate Committee Negotiates SEC Signing of Digital Goods Definition

The U.S. Senate Agriculture Committee is continuing to work on a bill on the regulation of the crypto market, but with the end of this Congress, time is running out. Items under discussion include SEC signoff before the CFTC defines tokens as digital commodities outside the jurisdiction of securities regulators.

Cryptocurrency

▌Aptos Will Distribute over 20.076 Million APT to over 110,000 Community Participants

Aptos officially announced that it will distribute 20.076 million APT to more than 110,000 testnet airdrop participants. This is the first time it has conducted an airdrop based on existing community data. Users who have completed the Aptos Incentivized Testnet application or minted “APTOS: ZERO Testnet NFT” are eligible to claim the APT Token. Eligible users to claim APT Tokens will be notified via email within the next few hours.

▌DeFi Lending Protocol Moola Market Exploited for $8.4 Million

Moola Market, a decentralized finance (DeFi) lending protocol on the Celo network, suspended operations after suffering an $8.4 million exploit. According to a researcher for The Block, the exploiter used 243,000 CELO tokens from Binance and then lent 60,000 CELO to Moola, borrowing 1.8 million MOO as collateral. By using the remaining CELO to inflate the price of MOO, the exploiter continues to use the borrowed MOO as collateral and borrow all other tokens. In the end, the exploiter obtained 8.8 million CELO (worth $6.5 million), 765,000 cEUR (worth $0.7 million), 1.8 million MOO (worth $600,000), and 644,000 cUSD (worth $600,000). Moola Market said its team is actively investigating the incident and all activity on the platform has been suspended. At the same time, Moola advises users not to trade related tokens.

▌ Meta Platform Joins Nonprofit Focused on Cryptographic Privacy and Security

Facebook parent Meta Platforms (META) has joined the MPC Alliance, a nonprofit group focused on cryptographic privacy and security. The MPC Alliance is made up of 59 members, including Alibaba Group, engineering firm Bosch and a slew of blockchain firms, including Bolt Labs, Ciphermode Labs, and Partisia Blockchain.