Coinbase Service Disruption, Bitcoin's Rollercoaster, and Technical Turbulence and much more🚨🤑

Coinbase Glitches, Bitcoin's Ride, and Tech Troubles Unfold

Mar 05, 2024

What's up OGssssss! 🙋🏻‍♂️

How’s the bull run making you feel???

Excited to share the 38th edition of our newsletter. 🥳

So, let's jump right in. 🗞️

Create a detailed pixel art scene featuring a large, golden Bitcoin symbol at the center. Surrounding the Bitcoin, include a shadowy figure representing a hacker, cloaked in darkness but with the glow of a computer screen illuminating their face. This hacker should be surrounded by floating mobile apps icons, representing various social media, finance, and security applications. The apps should be easily recognizable by their logos or functions, depicted in a pixelated style to match the overall theme. The background should be a digital landscape, suggesting a virtual space, with binary code subtly integrated into the design to enhance the digital atmosphere.

Seneca Recovers $5.3 Million in Assets After Smart Contract Exploit🚨

Seneca, a stablecoin protocol, was hit by a hacker exploiting a smart contract bug, resulting in a loss of over $6.4 million. In response, Seneca offered a 20% bounty to the exploiter for the return of the stolen digital assets. 😳
The exploit, identified by blockchain security firm CertiK, was due to a vulnerability allowing unauthorized external calls. 🧐
Seneca's offer led to the recovery of approximately $5.3 million in assets, with the hacker keeping a $1 million bounty.🤑

Funding Frenzy💰

Taiko has raised $15 million in a series A fundraising, bringing its lifetime outside investment total to $37 million. The project claims to be an "Ethereum-equivalent ZK rollup" with "based sequencing”.
Karma3Labs announced the $4.5M seed round funding to build OpenRank, a decentralized reputation protocol.
Silence Laboratories, a startup that builds infrastructure using multiparty computation (MPC) to help enterprises keep data private and safe, has raised a $4.1 million funding round.

BlackRock's IBIT Bitcoin ETF Hits $10 Billion Milestone in Record Time📈

BlackRock's IBIT Bitcoin ETF has rapidly hit $10 billion in assets just seven weeks post-launch, marking a record pace for the ETF industry. 💰
With significant daily inflows, IBIT now manages over 162,000 BTC, outpacing Fidelity's FBTC with 105,000 BTC. 🤯
The surge in BlackRock's fund contrasts with Grayscale's GBTC, which saw substantial outflows. The U.S. spot bitcoin ETF market is growing, with combined assets exceeding $21 billion, despite a recent dip in net inflows. ✅

🌎Web3 WONDERS 🤯

Startup Spotlight 🔦

Kima Network: Kima is a transformative blockchain infrastructure revolutionizing how financial institutions, Web3 applications, and fintech companies leverage the power of digital assets and blockchain technology.

People to know 👥

Stephan Huang: is a Web3 founder who emphasizes the importance of a strong support system for success in the Web3 space. He founded the Founder's Circle, a community where like-minded individuals gather to discuss all things Web3, share ideas, and provide feedback and encouragement to each other.

Tech Talk 🎙️

Future of Crypto, Blockchain & Web3 w/ Chris Dixon: featuring a16z’s co-founders Ben Horowitz and Marc Andreessen. This week, Marc and Ben are joined by guest Chris Dixon to discuss his recent NY Times bestselling book “Read Write Own”, as well as the future of crypto, blockchain and web3.

Coinbase Experiences Technical Issues Amid Bitcoin Price Surge📈

Coinbase users reported seeing zero balances and faced transaction issues on February 28, as Bitcoin's price briefly soared above $64,000. Coinbase acknowledged the problem on social media, assuring users that their assets are secure and that the team is investigating. 😰

The glitch also saw Coinbase's stock, COIN, nearly reaching its 52-week high before falling back. The cause of the disruption remains unclear, and customer support was temporarily unavailable. 😥

Coinbase has since updated its platform to inform users that the issue is being actively addressed.😅

NFT Drops ☔️

Tenshi Temple: Featuring stunningly detailed drawings of characters in multiple categories, Tenshi holders can earn valuable $tenshi tokens through staking, making Tenshi an attractive investment opportunity For those seeking both aesthetic and financial rewards.
Calves: The BULLygons have given birth to their calves, inviting you to come train them and enjoy some of the benefits of the BULLs
Kijo
Goblin Saga: is a collection of 4444 NFTs handmade with pixel art on pixelorama, this collection is living on Polygon Network and these NFTs can be used to earn $xGSA as rewards, one of the official token of the project.
Punks Not Dead Yet: Step into the digital rebellion of "Punks Not Dead Yet", a groundbreaking NFT collection proudly crafted by the creative minds at KUIOLabs on the Solana blockchain.

🎟️Events

Attend W3Summit at an extra 20% discount just with OG promo code:
🗓️: 8-9 March

Click here to book your ticket & use promo code: **OGCLUB20**

OG Club presents Shardeum’s First Dubai Meetup with Bybit!
Join us for an evening of networking and insights at The CryptArk by Bybit, Dubai.
🗓️: 8 March

Inviting Bengaluru folks to the dedicated world of Rollups and RaaS, which are state-of-the-art solutions for Layer 2 blockchain technology!
🗓️: 9 March

Cover Image for Web3Titans - Road to Rollups

ETH Vietnam 2024, a pivotal moment for the Ethereum community in Southeast Asia
🗓️: 16-17 March

👉 Stay tuned here to participate in the giveaway.

Attend Token2049 Dubai at an extra 10% discount just with the OG promo code.

Click here to book your ticket or use promo code: “OGCLUB”

📢 OG Shots:

The only limit to our realization of tomorrow will be our doubts of today.

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