Welcome to Week in Crypto Drama #6! This week we learned that Easter Sunday is as good as any other day to hack poorly designed protocols.

Beanstalk, a decentralized stable-coin protocol, was exploited via governance / flash loan attack. Total loss $76M out of which 10% is now offered to the hacker as bounty. Hasn’t happened before, but there is a hope as $250k was donated to Ukraine. I think we can safely assume that this time it wasn’t the North Korean’s. And kids, before launching new crypto money, check with parents. They may have good ideas.

Another unknown protocol on BSC lost $1M. Hacker wasn’t happy with the gains and burned it all.

While we’re at 💩 that happens on Binance - they celebrated Hitler’s birthday by launching their new logo. Didn’t look Reich.

EU doesn’t like BTC. And people are getting worried:

And the USA/EU, honestly, needs to try a little harder, use some imagination. Crypto/web 3 is not just some silly little thing to be brought into the fold. It is internet-scale innovation.

Tornado Cash started to block sanctioned addresses from accessing the dapp. CT was not impressed and Sifu has a solution.

We clearly don’t have enough algorithmic stable-coins, so His Excellency launches one. With it’s 30% incentive CT has great ideas:

Hear me out. Terra farms USDD’s 30% to subsidize its 20%.

Cobie writes about staking useless coins and gets called poor. I guess it’s really hard for Apes as they keep loosing their jpeg’s and no-one is whitelisting them for cool stuff. Like this new pixelated bird with a Ξ2.5 mint and a Ξ34 floor. Apparently it’s the future of utility NFT’s.

Limewire, the p2p software that gave you viruses back in the day, has raised $10.4M in a private token sale. Stripe will roll out USDC support on Polygon and MATIC still doesn’t pump. Something’s backwards here.

That’s it for this week, enjoy the weekend 🥃