Evening News | Jump Trading may manipulate feed prices to prevent on-chain positions from being liquidated; WETH de-pegging FUD

Organizer: Nianqing, Chain Catcher

"What Important Events Happened in the Last 24 Hours"

1. Former Terra Researcher: Jump Trading May Have Prevented On-Chain Liquidations by Manipulating Pyth Price Feeds

Former Terra researcher FatMan questioned the market maker Jump Trading, suggesting that it might have manipulated the Pyth oracle price feeds to prevent certain on-chain positions from being liquidated. He even mentioned that a Jump employee revealed months ago that Jump intended to use Pyth to target retail positions.

Previously, an employee from Jump Crypto, a crypto trading division under Jump Capital, disclosed that Alameda and Jump were collaborating to fraudulently inflate the Fully Diluted Valuation (FDV) of Serum beyond its actual value. (Source link)

2. Telegram Wallet Bot Now Allows Users to Trade BTC, Sellers Will Be Charged a 0.9% Commission on Sale Price

According to Cointelegraph, the TON Foundation plans to expand the number of cryptocurrencies available for purchase, and the upgraded Telegram wallet bot now allows users to buy and sell Bitcoin, with sellers being charged a commission of 0.9% of the total transaction price.

Previously, the bot allowed users to buy, sell, and trade Toncoin (TON) within the Telegram app. The wallet bot can also serve as an entry point for fiat currency, allowing users to purchase TON using credit cards in the Telegram app, currently supporting USD, EUR, Ukrainian Hryvnia, Belarusian Ruble, and Kazakhstani Tenge.

It is reported that the Telegram wallet bot was developed by The Open Network (TON, formerly Telegram Open Network) in April, aiming to simplify crypto transactions for Telegram users. (Cointelegraph)

3. AAX Has Hidden Its Official YouTube Channel, Withdrawals Have Been Suspended for Over 15 Days

The cryptocurrency exchange AAX has currently hidden its official YouTube channel. ChainCatcher reporters clicked on a YouTube video shared earlier on its Twitter official account, which showed that the related video is private and cannot be viewed, although it still appears normally on the Twitter page, suggesting that the official channel has been hidden.

Additionally, the homepage of its aax.com website indicates that the system is being upgraded and will take 7-10 days, but this announcement was made before November 13, and the relevant withdrawal functions have been suspended for over 15 days. Currently, the AAX Telegram user support group has 1,155 members, most of whom are users from Hong Kong and Taiwan.

4. AAX Vice President Ben Caselin: Has Left AAX, Still Believes Matters Will Be Handled Without Malice

AAX Vice President Ben Caselin stated on social media that he has left AAX. He mentioned, "I did fight for the community, but our proposals were not accepted, and I am powerless… I still believe matters will be handled without malice, but the damage has been done. The brand no longer exists, and trust has been broken."

5. "WETH FUD" Initial Spreader: WETH Will Never Decouple, The Joke Was Just to Test Who Was Reading This Content

Recently, a joke about Wrapped Ethereum (WETH) decoupling spread widely on Twitter and was believed by many to be true. The initial publisher and spreader of the related news was blockchain developer and contributor to the ERC-721A token standard @cygaar, who later responded in a post that "WETH decoupling" was actually a "bullshit post," "to see who is reading my content."

Before this, @cygaar had posted a related tweet stating that WETH will never decouple. WETH will always be redeemable 1:1 with ETH. The code and logic are very simple. In fact, it only requires 60 lines of code to implement. (Source link)

6. Decentralized Content Publishing Platform Mirror Is Down Again, Articles Are Unaccessible

The decentralized content publishing platform mirror.xyz is experiencing downtime issues. The official homepage can be opened, but specific operations cannot be performed, and articles cannot be viewed. Accessing article pages shows that server functionality is limited. In April of this year, Mirror experienced network paralysis due to the announcement of a new NFT minting feature by Optimism.

7. Data: A Whale Is Transferring 123,000 ETH Removed from Curve to Binance and Crypto.com

According to Lookonchain monitoring, a whale that removed 84,000 ETH (approximately $100 million) from Curve three days ago (0xf44) is transferring ETH to Binance. So far, it has transferred a total of 73,000 ETH (approximately $85.7 million) to Binance, with 12,000 ETH (approximately $13.9 million) remaining.

Additionally, the whale's other wallet address 0xa0c7 removed 38,900 ETH (approximately $45.6 million) from Curve five days ago and has transferred all of it to Crypto.com within the last 24 hours. (Source link)

"What Are the Noteworthy Articles to Read in the Last 24 Hours"

1. "Why Do Exchanges Always Experience Bank Run Issues?"

As the overall crypto market enters a bear market, many institutions, especially exchanges, have faced a series of collapses and bank runs. This month's dramatic collapse of FTX has once again sounded the alarm, leading people to question why well-known exchanges continue to fail in every cycle. Is this an inherent flaw of cryptocurrency, or is it a systemic issue within the industry?

2. "An Overview of Binance Labs' Investment Landscape"

In August of this year, Binance co-founder He Yi announced that she would officially take charge of the venture capital department Binance Labs. In an interview, she stated that Binance Labs would seek early projects that could bring long-term benefits to the industry, and that the bear market is a very good investment opportunity, focusing on investments in infrastructure, on-chain applications, data analysis, and security.

According to Binance Labs' official website, in the past three years, Binance Labs has invested in over 200 projects across more than 25 countries, with a funding scale of approximately $7.5 billion. Its investment landscape covers almost all tracks related to Web3, including public chains, protocols, infrastructure, NFTs, blockchain games, metaverse, DeFi, and CeFi.

3. "WETH Decoupling FUD: Panic, Jokes, and Insecurity"

Today at noon, a joke on Sun Yuchen's Twitter was taken seriously by many. It turns out that Sun Yuchen retweeted a post stating "WETH has decoupled" and claimed, "I will invest $2 billion with my BFF (Best Friend Forever, but everyone knows what their relationship is) Vitalik to fill the gap," which was quickly taken seriously by many media outlets and reported, sparking discussions and even panic within the community. The so-called WETH Foundation (WEF) he mentioned is even a non-existent entity. Why do people take jokes seriously? Will WETH actually decouple? This article primarily addresses these questions.