[Comparative Weekly Review] PeckShield: More than $130 million in cryptocurrency has flowed out of Multichain Bridge, or was triggered by a security breach; The New York Times: Taylor Swift agreed to sign a $100 million sponsorship agreement with FTX, but SBF decided to withdraw; Gemini filed a fraud lawsuit against DCG and its founder Barry Silbert

Here's a recap of the week's top news stories:

[NASDAQ updateBlackRockIn stockBitcoinETF application documents, specifyCoinbase[As a regulatory sharing agreement partner]

According to a public regulatory document, Nasdaq has re-submitted iShares Bitcoin Trust's Form 19b-4, a spot Bitcoin ETF headed by BlackRock (BlackRock).

According to the documents, the exchange said it has reached an agreement with cryptocurrency exchange Coinbase to sign a supervisory sharing agreement (SSA) and is expected to reach a “final agreement” before the deal. “The spot BTC SSA is expected to be a bilateral regulatory sharing agreement between Nasdaq and Coinbase to complement the exchange's market supervision plans,” the document reads.

The Chicago Board Options Exchange also submitted similar documents on behalf of Fidelity and others last week.

Comparing previous reports, the Wall Street Journal said last week that the US Securities and Exchange Commission (SEC) told NASDAQ and the Chicago Options Exchange that BlackRock, Fidelity, and others recently submitted spot Bitcoin ETF fund documents that were not “clear and comprehensive.”

【[Starkware plans to deploy a major upgrade of “Quantum Leap” on the Starknet mainnet on July 13]

Comparative news, according to the company behind StarknetStarkWareAccording to a press release, the “Quantum Leap” major upgrade went live on the testnet on Wednesday. If the Starknet community approves the code changes in a governance vote, the upgrade will be deployed to Starknet's mainnet around July 13th.

This upgrade is part of Starknet's roadmap, which includes a series of upgrades designed to make it more scalable. According to the Starknet Roadmap website, its team plans to make other upgrades in the third and fourth quarters of 2023 aimed at reducing transaction fees and shortening block intervals.

Although it's unclear how many transactions per second Starknet will process once the upgrade goes live, StarkWare said the blockchain will be able to process at least 100 transactions once deployed. The team also said that as congestion decreases, Starknet will become a more competitive alternative when building apps.

[PeckShield: Over $130 million in cryptocurrencies fromMultichainBridge leaks, or caused by a security flaw]

Comparing the news, data tracked by the on-chain security company PeckShield shows that multiple bridge contracts operated by Multichain (formerly Anyswap) saw a massive outflow of tokens, and more than $130 million in cryptocurrency was transferred from Multichain's Fantom, Moonriver, and Dogechain bridges. PeckShield speculates that this may be a security flaw.

The outflow of tokens includes 58 millionUSDC, 1020 WBTC ($30.9 million), 7,200WETH($13.7 million) and 4 millionDAI, also includingChainlinkwithUniDexWait for more tokens.

PeckShield questions if this is related to cross-chain platformsLayerZeroSupport for four types of tokens has been added to match those that have been moved, but this doesn't match the full list of tokens that have been moved. LayerZero CEO Bryan Pellegrino said he wasn't aware of the current issue and was investigating.

CEO of the Fantom FoundationMichael KongHe is “investigating the matter,” he told CoinDesk.

Multichain is supported by multi-party computing involving 21 nodes, and the combination of these nodes is required to sign transactions that authorize the flow of funds. Multichain was hacked in 2021.

[The New York Times:TaylorSwift has agreed toFTXA $100 million sponsorship agreement was signed, but SBF decided to withdraw]

Comparing news, according to the “New York Times” quoting three people familiar with the matter, music superstar Taylor Swift (Taylor Swift) discussed a deal worth up to $100 million with FTX in 2022, which may include a sponsored tour. After more than six months of discussions, Swift signed a sponsorship agreement with FTX, but in the end, FTX is the founder of FTXSam Bankman-FriedWithdrew from this agreement. Two people familiar with the matter said the decision made Taylor Swift's team frustrated and disappointed.

CNBC also reported the news of FTX's withdrawal from the deal, citing a person familiar with the matter. People familiar with the matter told CNBC that Taylor Swift finally agreed to the deal. The signed agreement was sent to Sam Bankman-Fried's inbox, but there was still no response after a few weeks. Some FTX executives convinced Bankman-Fried not to continue implementing the agreement.

【IDEXLaunched based onPolygonSupernets' zkEVM L2 chain “Xchain”]

Comparing news, decentralized cryptocurrency exchange IDEX announced plans to build an L2 chain based on Polygon zkEVM called Xchain. Currently in the testnet phase, the blockchain is being developed based on zkEVM, the Polygon Supernets software stack, to provide a decentralized perpetual trading platform.

Polygon's Supernet software stack enables developers to build customizable application chains that can run as sidechains or L2 chains. IDEX integrates Polygon's zkEVM technology as a layer 2 network, and its security stems fromEthereum. Xchain is also fully in line with Polygon's strategy of enabling existing crypto projects to create their own blockchains.

【GeminiTo DCG and its foundersBarry Silbert[File a fraud lawsuit]

Twitter News, co-founder of GeminiCameron WinklevossTweeted that Gemini is already in court in New YorkDigital Currency Group(DCG) and its founder and CEO Barry Silbert personally sued, accusing Barry, DCG, andGenesisConspiring to produce false financial reports and conceal the truth from Gemini and creditors, Barry Silbert was not only the mastermind and mastermind behind DCG and Genesis's fraud against creditors, but he himself was directly involved in these frauds.

Cameron Winklevoss explained that when Gemini informed Genesis that the Earn program would end in October 2022, Barry took the initiative to arrange a meeting to induce Gemini to continue earning. He did this because he knew Genesis was seriously insolvent. Barry claims Genesis is only a matter of time — a lie that masks a huge hole in Genesis's balance sheet. WhenThree Arrows CapitalWhen (3AC) went out of business in June 2022, Genesis's balance sheet had a $1.2 billion gap. Instead of confessing, Genesis claims that everything is going as usual because DCG has stepped in to bear the losses. This is clearly a well-designed lie. DCG didn't absorb any losses or provide actual capital, and DCG issued a false 10-year promise to Genesis with an interest rate of just 1% and a face value of only a fraction of $110 million. Barry and other DCG executives were directly involved in these lies to conceal the truth from Gemini and other creditors.

Author: BitPushNews Katie Lin

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