Blur Outperforms OpenSea in Trading Volume

SBF's lawyers block guarantors' identities and much much more!!

Author

Pranam Lipinski
February 11, 2023

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gm everyone!

Welcome to today's newsletter.

Here is a breakdown of what has recently hit the industry.

No Rug's best picks

  • 📈NFT marketplace Blur outperforms OpenSea in trading volume

  • ⚖️SBF lawyers move to block the release of bail guarantors' identities

  • 🕵️‍♀️SEC begins investigations on Kraken

  • 🦖Dinosaur Yield developers allegedly rug pull investors

What's happening lately

  • NFT market sees the first million dollar trades in 2 months (nft.news)

  • Takashi Murakami x Hublot Drop NFTs Linked To Physical Watches (nft evening)

  • Limit Break To Give Away Thousands Of NFTs On Feb 12th During Super Bowl Ad (NFT lately)

  • US retirement accounts' holders warned about crypto investments (crypto.news)

  • Minecraft Prohibits the integration of NFTs (nft.news)

  • Robinhood board concede to repurchase SBF's stake (Cointelegraph)

  • Crypto.com partners with studio Dragon to launch an NFT collection (nft.news)

  • Yuga Labs Resolves Legal Dispute Over Ryder Ripps' 'BAYC' NFTs (NFT Lately)

  • The head of Binance APAC suggests full audit of the exchange is not to be expected (crypto.news)

  • NFTs recorded trading volumes of $946M in January (nft.news)

  • Deutsche Bank's DWS plans to invest in two German crypto firms (Cointelegraph)

  • Argentine financial watchdog to tighten crypto regulations (crypto.news)

  • Alameda Research allegedly withdraws $2M worth of FTT tokens from one of its wallet addresses (crypto.news)

  • Doodle appoints new head of marketing (NFT Lately)

  • Jack Butcher's Checks NFT Collection Overtakes BAYC Trading Volume (nft evening)

  • Cloud mining firm BitFuFu postponed its merger with SPAC till May (Cointelegraph)

  • 3AC capital founder failed to comply with subpoena (crypto.news)

NFT marketplace Blur outperforms OpenSea in trading volume

According to Dune analytics, Blur has continuously shown an increased potential to disrupt the NFT space by outperforming OpenSea's trading volumes. OpenSea is currently the largest NFT marketplace in the world. Additionally, the marketplace is having a token launch on valentines day🎉🎉.

Here is what we know about Blur’s performance

  • Blur has dominated NFT trading volume in the past week, with more than $14 million traded daily.

  • OpenSea follows second with around $11.3 million.

  • OpenSea has the most significant number of traders.

  • Blur’s bidding pools are also at all-time highs.

  • Blur’s frenzy could be due to its imminent token launch known as BLUR.

SBF lawyers move to block the release of bail guarantors’ identities

Sam Bankman Fried’s lawyers have petitioned Judge Kaplan to block the judge’s order on revealing the identities of SBF’s bail.

Here is what we know about the appeal

  • The notice followed a petition filed by eight media companies.

  • These companies want the identities of two individuals who co-signed SBF’s $250M bond alongside his parents to be revealed.

  • SBF’s lawyers filed the notice on Feb 9, the deadline the jury issued in the initial petition granted to the media houses.

  • Judge Kaplan explained that the two guarantors exposed themselves by choosing to participate in a highly publicized case.

  • SBF’s case is still ongoing.

SEC launches investigations on Kraken

The US securities and exchange commission has launched an investigation on Kraken, a cryptocurrency exchange. The SEC is eyeing the exchange for potential securities law violations.

Here is what we know about the investigations:

  • The SEC is investigating the potential sale of unregistered securities by the exchange.

  • A settlement between the two parties could arrive soon.

  • It is not clear which tokens sparked SEC interests.

  • Any legal charges on Kraken could have a ripple effect on centralized exchanges operating in the US.

Dinosaur Yield developers allegedly rug pull investors

Dinosaur Yield, a cross-chain farming aggregator on Arbitrum, has reportedly undergone a rug pull. The platform’s Twitter account has also been deleted.

Here is what we know about the Dinosaur Yield

  • Dinosaur Yield has less than $5,000 remaining in its liquidity pools.

  • One of the addresses involved in the drainage received 4.9 million DINO tokens on Feb 3.

  • Another 20,000 USDC was sent from the deployer’s address through the Synapse bridge.

  • Another 35,000 USDC was sent to multi-chain.

NFT Spotlight: Edward Snowden

Edward Snowden is an NFT artist who rose to fame through his collaboration with a famous political activist Daniel Ellsberg on an Ethereum NFT project.

Edward Snowden

Edward Snowden is popularly known as the Whistleblower. He designed the ‘Stay Free’ NFT, which sold for 5.4 million dollars. The profits generated from the sale were directed to the Freedom of the Press Foundation, a non-profit that promotes free journalism.

Important links: Instagram/ Twitter/ OpenSea

Meme Drop

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