gm - August 10th, 2022

gm 👋

Regulatoooors have been busy this week with hit piece after hit, with the latest coming for RenBridge, as CNBC reports $540M have been ‘laundered’ on the protocol. Bloom Protocol is also hit with a $31M fine from the SEC, the exact amount it raised in its ICO. Hotbit exchange has announced its suspending trading and withdrawals after senior managers were subpoenaed. Nonetheless, crypto markets pump bigly with BTC popping up 4% to just over $24k on $28B volumes. ETH popped 8% to $1825 on $19B of volumes. Elon tweets he’s got over $7B now and asks the crowd which floor he should sweep.

NFT volumes bounce back as well with $23M changing hands, $18.7M of which is EVM-based and $1.6M Solana-based. RarePepeYachtClub continues its climb towards 1 ETH with volumes reaching $2.5M, #1 on the day. CryptoPunks have a $2.4M day, with Sorare following behind at $1.5M. MAYC seeing an increased volume of $1M, although the floor price is not budging from the 16 ETH handle.

Blue-Chip NFTs on the day

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NFT headlines:

Magic Eden Wants to Build an ApeCoin NFT Marketplace Just for Bored Apes — Here’s Why

Pinata raised $21.5M to scale NFT media infrastructure

Blockchain and NFTs are changing the publishing industry

Understanding NFTs: A Bored Ape Explainer (Bloomberg podcast)

A quiet NFT project with a unique model turns 1-year old

$SUDO token coming? A thread on how to prepare


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