Vice President of Yuga Labs reminds revocation of PPV2 authorization, vulnerability attacks continue

The price of BTC fell toward the 200-day moving average, marking its first approach to this support level since mid-August. Long positions were liquidated for $265 million in the past 12 hours, with funding rates near 0%, as weakness in the AI sector continues to impact prices. (Bitcoin Archive)

Drone delivery company Zipline has completed a new $1.5 billion funding round, bringing its post-money valuation to $21.5 billion, approximately 2.8 times its $7.6 billion valuation in January of this year. This funding round was led by Paradigm, WCM Investment Management, and Layer Global, with participation from Valor Equity Partners, Fidelity Management & Research Company, Uber, Tiger Global, JPMorgan Chase, ARK Invest, and Salesforce Ventures. The funds will be used for domestic manufacturing and hiring in the United States. (Source: Bloomberg)

[Gauntlet Restricts V1 Vault Deposits and Suspends Asset Allocation] Risk management firm Gauntlet has taken measures to address an op-reth vulnerability reported by some OP Stack chains, including closing the V1 Vault supply queue, suspending asset allocation, and reducing exposure to LayerZero bridge assets. Gauntlet stated that no exploits of the vulnerability have been reported. Clearing the supply queue will prevent new vault deposits, but this measure will not close withdrawals or the underlying lending market; withdrawals depend on available liquidity in the underlying market. Gauntlet stated that these measures will remain in effect until the issue is resolved, without providing a resumption date. (Source: The Defiant)

A Chainalysis report indicates that the $6.3 billion in crypto assets stolen by the Binance hack are being transferred through thousands of wallets and multiple blockchains, with some funds already flowing into money laundering networks in China.

Chip stocks continued their decline, with the Philadelphia Semiconductor Index falling 10.1% intraday. The index was dragged down by US election policies and earnings reports from Arm and Qualcomm. Election results showed support for policies restricting the construction of new AI data centers, prompting Wall Street analysts to lower target prices for several AI infrastructure-related chip companies. Arm reported second-quarter revenue, profit, and outlook that all exceeded expectations, but third-quarter royalty income fell short, partly due to weak smartphone sales. Qualcomm's fourth-quarter results and current-quarter outlook slightly exceeded market expectations, but its smartphone chip sales were affected by weak market conditions. Other chip companies reported that Astera Labs' third-quarter results and fourth-quarter guidance both exceeded expectations; Coherent reported first-quarter results that exceeded expectations and raised its outlook. (Source: Investor's Business Daily)