Software is Eating the World!

Half a billion dollars is heading toward DeFi, NFTs, and scores of other projects. So it’s time to party folks. And a16Z is hosting, as it is once again launching a $400MM fund to expand into new technology. The theme this week seems to be DeFi, where at each tier decentralized finance projects are getting funding. 

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Crypto exploits and fraud on the rise

Crypto Breaches Soar: A Deeper Look

A new research study from the cryptocurrency review, advice, and news firm Crypto Head reveals that crypto breaches and fraud increased 40.7% in 2020 from 2019, with 2021 set to break last year’s record in terms of the number of offenses. 

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PolyNetwork bug bounty

After The Poly Network Hack: The Story of a 500K Bounty Program

Recently, the Poly Network had to face the biggest network hack in DeFi history. A hacker known as MrWhiteHat stole people’s funds across blockchains. After being the victim of a $610 million hack, Poly Network took matters into its own hands by announcing a bug bounty program with Immunefi. 

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Bitcoin Set to Post First Weekly Loss Since July As Crypto Market Cools Off

After posting 5 consecutive weeks of gains, it seems as if the price of bitcoin is cooling off and is set to post the first red weekly candle since mid-July 2021. The total cryptocurrency market capitalization is pretty much unchanged since last week (but remains above $2 trillion) and the volatility of most coins is starting to decline, suggesting traders should start paying attention before the next big move occurs.

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