AVAX Stablecoin DeFi Protocol Platypus Finance Hacked | Cryptocurrency Trends

1.Mainstream Exchange Trends:

• OKX to launch BIG TIME USDT-M perpetual futures on October 13, 4:00 PM. OKX will also launch BIGTIME margin trading and Simple Earn products.
• Binance Feed rebrands to Binance Square.
• Binance Futures to launch BIGTIME 20 X USDT-M perpetual futures.

2.Cryptocurrency Trends:

• TangibleDAO: USDR becomes depegged after facing liquidity issues, but backing real estate and digital assets remain available for redemption.
• Polkadot ecosystem development organization Parity Technologies lay off over 300 employees over the week.
• Platypus, a stablecoin DeFi protocol on the Avalanche chain, loses over US$2 million in a hack.
• friend.tech competitor Stars Arena recovers over 87% of its assets and will receive a bridging loan from a private investor.

3.Financing Trends:

• Parsec, a blockchain data analytics platform, raises US$4 million in a new funding round led by Galaxy Digital with participation from Uniswap Labs Ventures, BODL Ventures, Robot Ventures, CMT Digital, and others.
• Initia, a Layer 1 blockchain, receives pre-seed round funding from Binance Labs.
• Account Labs, a Singapore-based crypto wallet service provider, raises US$7.7 million in funding co-led by Amber Group, MixMarvel DAO Ventures, and Qiming Venture Partners.

4.Regulatory Trends:

• Coinbase sends a letter to the IRS expressing its serious concerns about the proposed crypto tax regulations.
• The U.S. CFTC files a suit against Stephen Ehrlich, the former CEO of Voyager, alleging that Ehrlich fraudulently solicited participation in and operated Voyager's digital asset platform and asset pool.