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Crypto Evening Briefing: Meta Is Building a Decentralized, Text-Based Social Network

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Meta Is Building a Decentralized, Text-Based Social Network

Meta is in the early stages of building a dedicated app for people to post text-based updates. “We’re exploring a standalone decentralized social network for sharing text updates,” the company told Platformer exclusively in an email. “We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests.” The most remarkable aspect of the project is that Meta plans for the network to be decentralized.

US DOJ Appeals Billion-Dollar Binance.US Acquisition of Voyager Assets

Though New York's bankruptcy court signed off on Binance.US' plan to purchase Voyager's distressed assets, the United States government is making an effort to block the billion-dollar deal. The U.S. Department of Justice's Trustee Office filed an appeal against Binance.US' acquisition of bankrupt crypto lender Voyager Digital's assets roughly one day after New York bankruptcy judge Michael Wiles approved it.

DeFi Protocol Tender.fi Hacker Returns $1.6M Following Chainlink Oracle Glitch

A white hat hacker that targeted DeFi protocol Tender.fi has returned $1.6 million that was stolen on Tuesday, receiving a 62.15 ether ($85,000) bug bounty instead. The attack occurred after Tender.fi upgraded its price feed to relay data from a Chainlink pricing oracle as opposed to a time-weighted average price (TWAP).

Crypto VCs Ask Portfolios To Pull Funds From Silicon Valley Bank

Crypto-focused venture capital investors have advised their portfolio companies to withdraw funds from Silicon Valley Bank, which is struggling to reassure clients after moves to shore up its balance sheet spooked investors. The warnings arise as startups in the industry look for viable banking options.

Justin Sun Sets Up $100M Huobi Liquidity Fund Following HT Flash Crash

Huobi has set up a $100 million liquidity fund following a 90% flash crash of the exchange’s Huobi Token (HT) on March 9. The exchange’s global adviser Justin Sun confirmed this development, adding that the funds have been sent to the exchange.

Market Watch

As of press time, according to Cointime data:

BTC 's live price is $19,925.08 USD, dropped by 7.75% in the last 24 hours;

ETH’s live price is $1,395.63 USD, dropped by 8.78% in the last 24 hours;

BNB’s live price is $269.83 USD, dropped by 6.53% in the last 24 hours;

XRP's live price is $0.3654 USD, dropped by 7.62% in the last 24 hours.

Bitcoin Bitcoin $75,988.45
+2.43%
SocialFi Voyager Digital Binance.US DeFi Silicon Valley Bank Justin Sun Huobi
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