💱 JPMorgan just executed their first live DeFi trade
👛 Deribit hacked for USD 28m
👨💼 Elon's first days on Twitter
🥽 How the Metaverse could change the way we work
💱 JPMORGAN JUST EXECUTED THEIR FIRST LIVE DEFI
JPMorgan is one of the symbols of huge FIAT financial holding. It’s also one of the most prominent opponents of the crypto world, actively influencing against DeFi solutions.
It’s unexpected news after Jamie Dimon calls ‘dangerous’ crypto a
‘decentralized Ponzi scheme’ that’s not ‘good for anybody.’ Maybe it was only a smokescreen.
It’s good to see that adoption of cryptocurrencies is growing.
👛 DERIBIT HACKED FOR $28M
Crypto derivatives exchange Deribit hot wallets were compromised. BTC, ETH, and USDC worth $28M are lost.
Deribit reassures customers by telling them that company reserves cover the loss. The exchange policy is to store 99% of the user's funds in cold wallets.
Last time a lot of bridge exploits were taking place. It looks like a different kind of attack. The attack was isolated, and devs have control of the exploit. Deribit is still investigating the cause of it.
👨💼 ELON'S FIRST DAYS ON TWITTER
A new Elon toy - Twitter- is one of the most exciting things we will discuss for a long time. As you read our last episode, you know how he came to buying it. The whole story was illustrated with graphics made by Beeple.
Today a little about his first days onboard. Elon is a genius of Social Media. He can pump or bury cryptocurrencies and companies
with a single tweet. It’s the same this time.
Only Elon enters his new company that way - using internet memes to tell the world about that!!!
Since that moment, there has been more and more to talk about. There was Halloween, of course. Elon’s handmade leather costume made a massive impression on everyone.
Of course, everyone is talking about his first
decision - setting up the price of the verified Twitter account to $8 and personal choices. Three directors were fired: CEO Parag Agrawal, CFO Ned Segal, and Chief Legal Counsel Vijaya Gadde.
The last one is even the star of a fake movie, in which Elon fired her during the Joe Rogan Experience show. It was a little viral. I believed in that at the first moment.
There is even more speculation about Twitter's direction in crypto and web3. Some people expect that the meme Doge coin will be used on Twitter. That’s why this crypto grew a lot last week.
The opinions are polarized. One site believes that Elon will make Twitter great again. Another is worried about that.
We’re even more interested in how all of that will continue.
🥽 HOW THE METAVERSE COULD CHANGE THE WAY WE WORK
In the BFC, we’re looking for the greatest minds in web3. We’re starting a podcast soon and we’re looking for exciting people in web3 that want to be a guest. We reach Prof. Thomas Metzler, Ph.D. He’s the author of the MadeMeThink newsletter, describing his findings in Web3, NFTs, and the Metaverse. I hope he will tell us more soon in our BFC podcast.
My head is still on the Metaverse topics that ruled in our newsletter last week. That’s why the latest article on MadeMeThink was fascinating to me. It’s called How the Metaverse could change the way we work. It’s a great explanation of what the future office can look like. All are based on the latest Meta Quest Pro announcement and earlier Metaverse experience of the author.
It looks like Thomas has some experience with this kind of desk setup, and he’s got some brilliant observations in the Metaverse field. We’re curious
about his point of view on the current state of Metaverse.
😎 That’s all for this week!
We want to let you know what’s happening inside BFC.
We’re having online meetings with experts and less formal calls about interesting web3 topics. The last one was about the Network State, and next week, we will chat about the Metaverse.
Some BoFos are currently on WebSummit in Lisbon. Expect a report from the event next week.