20 million OP tokens were stolen by hackers, and the market panic intensified

Overnight, OP's market maker had 20 million OP tokens stolen by hackers. The reason was that the multi-signature address that OP gave to the market maker was not deployed on the 0P network, but on the ETH network. After discovering the problem, 0P wanted to remedy it quickly, but the hacker got there first and deployed it on the 0P network. Therefore, the hacker gained control of the tokens at that address. So far, the hacker has sold 1 million 0P tokens. When the 0P team called for human hackers, the hacker transferred another 1 million tokens to Vitalik's address. No action was taken on other tokens. I don't know what the hacker was thinking. In the end, the market maker said it would bear the loss of the whole thing. When the hacker sold the 0P tokens, they would buy back the tokens sold in full, and also paid a $50 million deposit to the 0P team, in exchange for another 20 million tokens to continue market making. This is roughly the whole thing. Logically speaking, there is no selling pressure on 0P itself, so the drop is a time to pick up chips. This project is still developing in the long run, but the short-term heat has indeed subsided quite a lot. You can either choose to hold for the long term or choose short-term speculation.

The New York crypto regulator has officially released a guide to stablecoins, which shows that stablecoins need to be fully backed by assets, separated from the issuer's operating funds, and audited regularly by auditors. Stablecoin regulation is easy and in the interests of the United States itself, and the future of stablecoins should be bright.

U.S. Senator Cynthia Lummis said that the United States has crossed the chasm and Bitcoin will not be banned. She also supports adding Bitcoin to retirement investment portfolios and thinks it is a great idea. The senator is obviously a supporter of Bitcoin. The United States has indeed gone further and further on the road of regulation. The probability of banning Bitcoin is extremely low. As long as the United States vigorously embraces it, it will be useless for other countries to ban it.

South Korea is about to issue a draft guideline for cryptocurrency trading. South Korea is also one of the first countries to complete compliance, but some details still need to be gradually implemented and supervision will be gradually improved. With supervision, the currency circle will truly have a backbone.

The president of the Central Bank of Brazil said that private banks will be allowed to issue their own stablecoins. The country has CBDC, and banks can also issue stablecoins. The world is getting more and more lively. Digital transformation has been thoroughly integrated into our lives. Let's see whether the central bank's digital currency is more powerful, or our cryptocurrency and US dollar stablecoin are better. Crazy people speculate that in the process of the United States harvesting the world's wool, the adoption rate of the US dollar will increase significantly, and these stablecoins will become one of the largest workers of the US dollar.

The President of the Central African Republic said that Bitcoin is a good currency for a better world. The president continues to support Bitcoin and looks forward to the success of his Crypto Island experiment.

Emirates Airlines accepts Bitcoin and other cryptocurrencies as a payment method. After the UAE compliant encryption industry, all walks of life have been integrating WEB3 very quickly. It is really a fertile soil. If you want to continue to develop in the cryptocurrency circle, Dubai may be a place worth stationing.

A Forbes survey shows that 30% of the world's billionaires have directly or indirectly invested in cryptocurrencies, which is significantly higher than ordinary people. The founder of FTX is also one of the people surveyed, and more than 76% of his $20.6 billion in assets are in cryptocurrencies. If CZ is surveyed, the results will probably be the same. Billionaires must have a higher level of cognition than ordinary people. If this industry has no future, they will definitely stay away, keep their minds at ease, and wait for the future.

75% of US retailers plan to accept crypto payments within two years. This means that when we go to the US in two years, we will bring a mobile phone with us and install a wallet app. We will no longer have to worry about currency congestion. Can't this be called a global currency?

Panic 11, the panic level intensified.

Coin News:

Bitcoin: The volatility failed. Tonight is more important. As long as the Americans don’t smash it down, it will be relatively stable in the short term. The Federal Reserve is getting closer to discuss balance sheet reduction. Under this expectation, it is better to be relatively cautious.

Ethereum : Ropsten testnet has completed the merger, and two testnets will transition to POS before the mainnet is confirmed. The short-term trend is relatively weak, mainly linked.

APE: The proposal to stay on Ethereum was finally passed by 53%, which has little impact on the price of the currency. The market's attention has not been on it recently. Let's wait for the opportunity.

ADA: A Twitter survey shows that ADA is the most favored by investors in a falling market. It has been performing strongly recently and can be continued to be held.

Let’s continue to wait for the direction. After the interest rate meeting in June, the market will gradually become stronger.