- AlphaPacked — Daily Crypto Newsletter
- Posts
- Bybit Faces Leadership Changes
Bybit Faces Leadership Changes
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/6ace8a63-c560-47c4-b0a8-4666b8494cec/Bybit.jpg?t=1717194443)
🎯 Bybit Restructures Leadership Following Notcoin Issues
Executive Changes Amidst Issues: Bybit confirmed significant executive changes following delays in Notcoin (NOT) deposits. These issues affected over 320,000 users.
Compensation and Recovery: Bybit compensated affected users with $26 million after the Notcoin deposit delays. The exchange is focused on improving its infrastructure and preventing future issues. Executive changes are part of this recovery plan.
Impact on Users: Bybit continues to maintain high transaction speeds and zero downtime, with a growing user base of over 15 million across 160 countries. Users are encouraged to stay informed about platform changes and participate in community discussions. Read More.
️ On today's Top Picks:
- 🚀 Fuel launches final public testnet.
- 🪂 Taiko to launch $TAIKO airdrop on June 5th.
- 👾 DMM Bitcoin crypto exchange hacked for ~$300M.
- 💰 Babylon raises $70M in funding led by Paradigm.
Read time: ⏰ 7 minutes
Crypto News
• ⭐️ Bybit confirms several executives change roles after botched launch.
• Matter Labs posts proposal & pledge regarding "ZK" trademark.
• Uniswap $UNI postpones "fee switch" proposal vote.
• Polyhedra opts for $ZKJ ticker amid clash with zkSync.
• US SEC requires Ethereum ETF issuers to submit first round of S-1 draft forms.
• Terraform Labs & Do Kwon to settle with US SEC regarding collapse of TerraUSD.
• US Treasury Department does not intend to ban crypto mixing services but rather promote transparency.
• Andreessen Horowitz a16z donates $25M to crypto super PAC Fairshake.
• Circle $USDC partners with LatAm investment bank BTG Pactual.
Alpha
• Rivo launches Points Program with conversion to Rivo tokens in Q4 2024/Q1 2025.
• Blast launches Gold Distribution 4 (10M) to dapps.
• BOB launches Wave 3 of BOB Summer Fest on Intract.
• ⭐️ Fuel launches final public testnet inviting everyone to join.
• Jumper to take snapshot for May XPs of the Jumper Loyalty Pass.
• Catalyst drops first Egg Rewards for swappers, liquidity providers next week.
• DeBank launches new Web3 Social Ranking Badges.
• Pirate Nation Season 1 of BOOTY Points ends on June 10th.
Airdrops
• ⭐️ Taiko $TAIKO to launch airdrop claim on June 5th.
• Sei $SEI updates Airdrop Checker increasing number of eligible wallets.
• zkLink launches $ZKL NovaDrop Round One with eligibility checker.
• ICYMI Rivo Airdrop Confirmed by Earndrop.
• ICYMI Elixir Airdrop Strategy by Earndrop.
Finance News
• Nvidia $NVDA & AMD $AMD struggle with AI chip exports to Middle East amid US security review.
• Presidential Candidate Donald Trump raises ~$35M following guilty verdict.
• HSBC sells Russian unit to Expobank for undisclosed amount.
Security and Exploits
• ⭐️ DMM Bitcoin crypto exchange hacked for ~$300M of Bitcoin $BTC.
• US DOJ dismantles 911 S5, the world's largest botnet with 19M infected devices.
• Researchers Uncover LilacSquid for targeting various sectors across the world since 2021.
Token Unlocks
• Manta / 1.87M $MANTA / ~$3M / MAY 31
• dYdX / 33.33M $DYDX / ~$67M / JUN 01
• Sui / 65.08M $SUI / ~$66M / JUN 01
• ZetaChain / 5.29M $ZETA / $7M / JUN 01
• Acala / 27.43M $ACA / $3M / JUN 01
• Ethena / 53.6M $ENA / $47M / JUN 01
Funding
• ⭐️ Babylon, a Bitcoin staking protocol; raises $70M in Pre-Launch funding led by Paradigm.
• Supervillain Labsm, a Web3 gaming studio; raises $4.5M in Seed funding led by Aptos Labs & Intella X.
• Play AI, a modular chain for AI in gaming; raises $4.3M in Seed funding.
• Coinflow Labs, a payment Stack built for businesses; raises $2.25M in Seed funding led by CMT Digital.
• Lumoz, a modular compute layer & RaaS platform; raises an undisclosed amount in Strategic funding.
The Degen Farmer
Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!
PROTOCOL | ASSETS | APY |
---|---|---|
![]() | USDCUSDC | 96.56% |
![]() | USDT | 88.42% |
![]() | USDCUSDT | 81.18% |
![]() | NUSDC | 72.10% |
![]() | MIMUSDCUSDT | 65.29% |
![]() | USDC | 51.24% |
![]() | USDCSUSD | 44.38% |
![]() | DOLAUSDC | 39.79% |
+$600,000,000 in airdrops was lost | ![]() |
Don't you hate it when you qualify to an airdrop but it's already expired and can't be claimed?
Coming in: Earndrop is a cryptocurrency airdrops finder.
Paste your wallet and the site will show you if you have anything to claim!
With a free account, you also get email alerts when your wallets are eligible to claim something new.
That’s it for today’s edition! See you soon.
Reply