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- FTX's epic comeback plan
GM, this is The Crypto Explorer, the Domino’s Pizza of newsletters, we come to you hot and fresh every day. 🍕
Here’s what we got for you today:
😳 FTX is Coming Back
🌞 Ethereum's future shines bright!
🧱 Around the Block: Another Defi Hack
😳 FTX is Coming Back
That's right folks, we could be seeing a brand-new FTX as early as April 2024
After filing for bankruptcy in 2022, the crypto firm is considering rebooting its exchange operations in the second quarter of 2024.
Not only is FTX coming back, but they're doing it with a cool $7.3 billion in liquid assets.
And of course, the news of the potential reboot sent FTX Token's price soaring like a rocket. It's gone from $1.32 to $2.80. That’s an increase of over 112%.
As for former FTX CEO Sam Bankman-Fried, let’s just say he’s still in murky waters.
The Crypto Explorer's Take: Given the magnitude of the negative impact that was felt across the entire industry, I wonder who would return to using the exchange. Would you? 🤔
🌞 Ethereum's Future Shines Bright!
Ethereum's Shapella update has finally landed, and the ETH community is partying like it's 1999! 🍻🥳🥂🍾
Staked ETH withdrawal function is now live.
Many are excited about the future of Ethereum, even Vitalik Buterin (the co-founder of Ethereum) was so proud, he said:
"The network is in a really good place." 🚀
One of the expected effects of this update is that it'll entice some institutional investors now that a clear withdrawal option is in place.
But hey, don't expect a massive flood of ETH hitting the markets, because the team has put some mechanisms in place to prevent that from happening.
On the other hand, Glassnode plans that only a few brave souls plan to sell their staked ETH.
🧱 Around The Block: Another Defi Hack
🐦 Twitter loves Crypto: Twitter to launch crypto and stock trading in partnership with eToro.
🖲️ Another Defi Hack: Hacker mints 1 quadrillion yUSDT after exploiting old Yearn finance contract.
🪙 ApeCoin: ApeCoin surges 1,950% on South Korean crypto exchange Upbit.
🥏 Bitcoin Ordinals: Community debates fix after inscription validation bug.
That's all we have for today.
We'd love your feedback.
In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.
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