Coinbase CEO Sells 2% Shares, Temple DAO Hacker Moves Funds, Copper Secures $196M Funding


Written by Crypto University

October 17, 2022

Coinbase CEO Sells 2% Shares

Brian Armstrong, the CEO of Coinbase, is proposing to sell 2% of his shares of the company. He will use the money to fund research and fast track scientific and technological advancements that are solving today’s most prominent problems. 

“I’m passionate about accelerating science and tech to help solve some of the biggest challenges in the world. To further this, I’m planning to sell about 2% of my Coinbase holdings over the next year to fund scientific research and companies like @newlimit + @researchhub,” said Brian Armstrong on his Twitter post.

NewLimit is a pharmaceutical company that focuses on prolonging human life through epigenetic reprogramming. In addition, ResearchHub is a website that aims to provide a mobile and web application where scientists may cooperate on research.

Temple DAO Hacker Moves Funds

Temple DAO, a decentralized finance (DeFi) protocol, suffered a hacking exploit for millions of dollars last week. On Sunday, the hacker moved $2.34 million to a new wallet, using sanctioned Tornado Cash.  The amount stolen accounted for 4% of the protocols’ total locked value (TVL) of the assets on the platform.

“Update on STAX exploit: A total of 321,154 xLP tokens are swapped for precisely 1,418,303 $TEMPLE and 1,262,438 $FRAX. 1,418,303 $TEMPLE were sold for FRAX,” wrote Temple DAO on their Twitter page. 

Temple DAO is the latest DeFi technology platform to suffer an exploit. According to Defi Llama, the total value locked on Temple DAO is $56.93 million. And the exploit accounting for around 4% of the protocol’s holdings.

Copper Secures Funding

 Copper Technologies Ltd, a cryptocurrency firm, has raised $196 million during this bear market. The company did not disclose the names of the investors. The company supplies digital asset infrastructure to institutions like FTX and State Street.

“It just generally took longer than we expected to basically make sure that there is a full clarity as to what’s going on, and also how things are,” Copper Chief Executive Dmitry Tokarev said of the fundraising effort in a July interview.

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