#liquid

A California court has determined that Lido DAO, the decentralized organization overseeing the liquid staking protocol Lido Finance, qualifies as a general partnership. The court dismissed arguments that the DAO is not a legal entity, as reported by Decrypt based on court filings.

The account of the Rocket Pool liquid staking protocol on X fell victim to a cyber attack. As of press time, the project team is still struggling to regain control of their account.

TeraWulf, a mining company, is set to launch a new Bitcoin mining facility named WULF Den by the end of September 2024. This facility will be equipped with a liquid cooling system and will deliver a minimum of 2 MW of power, substantially increasing the company's total output.

Frax Finance, renowned for its liquid staking and stablecoin FRAX, has launched its L2 network, Fraxtal.

The liquidators of the collapsed cryptocurrency hedge fund, Three Arrows Capital (3AC), have projected that creditors could recover about 45.74% of their funds, based on the current frozen assets. The bulk of this seized investment portfolio, amounting to 82%, is tied up in non-liquid tokens.

The charismatic founder of BitMEX has revealed his vision for the market. Spoiler: he moves liquid fiat money from treasury bills to cash and intends to invest it all in high-risk assets (bitcoin and other crypto, of course). Key takeaways from Arthur Hayes' post: ? S&P500 is up 40% in 3 months; ? Fed balance sheet will drop $100 billion every month; ? The market will get an extra $500 billion out of the Treasury General Account (TGA), which will accelerate inflation; ? When the money runs out (sometime in July), Congress will vote to increase the debt ceiling; ? The market will end up flooded with unbacked debt liabilities; ? The world's banks will be forced to resort to printing more money (this process has already begun). "The party has begun!", Arthur concludes.