0x01e959 (@radhe) • Hey

0x01e959 (@radhe) • Hey

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📰 Today's Highlights: Here’s what happened in crypto today in 3 short points 1. During the USDR depegging crisis, one trader lost their entire investment by swapping 131,350 USDR for 0 USDC, representing a complete loss. This highlights the extent of the panic-selling and is a contender for the worst-case scenario. The USDR stablecoin depegged due to illiquid assets, leading to its decline to $0.53 and a challenging day for the USDR team and stablecoin holders. 2. Ellison testified that SBF paid $150 million to bribe Chinese officials to unfreeze funds in the Sam “SBF” Bankman-Fried trial. She also stated that he considered selling FTX equity to the Saudi Arabian crown prince. The funds were locked in Chinese exchanges and there was null billion at stake. Bankman-Fried attempted to use identities linked to Thai sex workers and hired lawyers before resorting to bribes. 3. EU regulator, ESMA, says DeFi not a risk to stability due to its small size and lack of correlation with traditional markets. Crypto market is the size of EU's 12th-largest bank, posing no threat. However, ESMA warns of potential risks if DeFi gains traction or connects more with traditional markets. Investor protection remains a concern. https://cointelegraph.com/news/what-happened-in-crypto-today