• Aspen Digital

GameStop Partners With Crypto Exchange FTX.US to Boost Digital Asset Adoption

Daily Market Wrap

  • Crypto market cap: 976.21 billion, up 4.64%

  • BTC price stands at USD 19,237, up 2.93%

  • ETH price stands at USD 1,627, up 7.98%

  • Top gainer: Helium (HNT), up 46.29%

  • Top loser: Neutrino USD (USDN), down 0.12%

News of the Day

GameStop doubles down on crypto amid a new partnership with FTX.US

Why it matters:

  • GameStop and FTX.US will jointly promote e-commerce and marketing initiatives, such as GameStop retail stores carrying FTX gift cards

  • GameStop released an NFT marketplace in mid to late July, which was better received than Coinbase’s

  • After the news release, GameStop stock price rose by almost 10%

Crypto Daily Spotlight

Hacker Steals $370K Via Avalanche Flash Loan Arbitrage Attack

Brief introduction: Avalanche is Layer 1 blockchain with the fastest time to finality, or time to confirm transactions. It uses the proof-of-stake protocol and thrives on its high speed, low cost, and sustainability. The blockchain has smart contract capabilities and its native token is AVAX.

Why it matters:

  • Unknown attacker borrowed uncollateralised funds, drove up the price of the asset and sold back the borrowed capital, allowing them to pocket the arbitrage difference

  • While the attack took place on the Avalanche blockchain, three other protocols: Curve Finance, Trader Joe and Nereus Finance were also affected

  • Attack was picked up by CertiK’s on-chain security software Skynet

Daily Sector Tracker

Daily News Roundup

  1. Coinbase Looking To Acquire $1.6B of MakerDAO’s USDC https://bit.ly/3d1BmhX

  2. Hawkish Fed Chatter Has Wall Street Betting on Big Rate Hike, Crypto Traders Shorting Bitcoin https://bit.ly/3D7tMNI

  3. Vermont's Financial Regulator Alleges Celsius and its CEO Made 'False and Misleading claims' https://bit.ly/3AUmN81

  4. US Fed Vice Chair Michael Barr Favors Hard Line on Crypto, OCC Acting Head No Friendlier https://bit.ly/3BpeJ0A

  5. Algorand Upgrade Could Increase Speed and Cross-Chain Transaction Capability https://bit.ly/3D7e7O9

About Aspen Digital

Aspen Digital is a leading technology and financial services company with a mission to accelerate the mass adoption of digital assets. The company provides a digital asset management solution for asset managers, institutions, and sophisticated investors. Aspen Digital was co-founded by digital assets innovators and asset management veterans at Everest Ventures Group (“EVG”) and TT Bond Partners (“TTB”) in 2021.

For more information, please visit https://www.aspendigital.co/

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