$332 Million Stolen = Rektember. Hong Kong is Definitely Back. Honda Welcomes Crypto.

October 6, 2023

Crypto Market Update 06-10-23

Happy Friday everyone!

October is here and if you’re already thinking of what to wear on Halloween, just don’t go dressed as Barbie cause you might find you’re not that original! 😅 To what matters now, here’s your weekly recap! 📰😎

Last 7 Days Market Performance 

Bitcoin is up 3.7%, now at $ 27,950.00 📈

Ethereum is down 1.7%, now at $ 1,646.00 📉

Total crypto market cap: $ 1.13 Trillion

Fact for the week:

🚘 Michelin, famous tyre brand and creator of the most coveted stars in the kitchen world, is expanding to bring famous stars to the world of hotels, but here the prize will be the golden "key". In 2024 Michelin will start awarding “keys” to hotels around the world that meet its high standards, relying on its own judges checking into hotels anonymously to determine top-tier stays. It's time now to add the "hotels" field to your Michelin bucket list.

Onto this week’s updates 🚦

🔴 $332 Million Stolen = Rektember ☠️

Crypto exploits peaked in September 2023 with $329.8 million stolen, marking it the worst month of the year to date. Blockchain security company CertiK highlighted the Mixin Network's $200 million loss on Sept. 23, caused by a breach of its cloud service, as the major event accounting for two thirds of the losses. The biggest winner, with no surprises, was the Lazarus Group, famous North Korean hackers. 📛

🟡 Hong Kong is Definitely Back 🇭🇰

Hong Kong-based crypto VC firm, CMCC Global, launches a US$100 million fund to support Asian blockchain start-ups, countering the crypto industry's recent downturn. Despite previous business exodus due to regulatory issues and pandemic restrictions in Hong Kong, the city adopted a pro-crypto stance last October, permitting licensed exchanges to serve retail traders. China and Hong Kong have always looked like crypto markets, full of volatility, either accepting or rejecting crypto, so will China be also back? 🇨🇳

🟢 Honda Welcomes Crypto 🏎️

Honda now accepts crypto payments, including Bitcoin and XRP, for its products in the US. The Japanese automobile giant allows customers to use digital assets like BTC, ETH, XRP, and BNB, as well as stablecoins such as USDT and USDC, and meme coins like DOGE, SHIB, PEPE, and FLOKI. They plan to expand this payment option to other countries in the future. Unlike what happens in F1, in crypto Honda starts in pole position. 🥇

🎬This was our traffic light for this week, if you have suggestions or criticisms, we are all ears, so just let us know. In the meantime, if you haven't already, check out our incredible platform 🙂

Lympid: Crypto interests on a trusted, regulated platform

Talk next week 👋


Great job on learning something new today 🎉