Hello, ApolloXplorer!Have you seen today’s key headlines yet?<h2 id="header-0">#1. BendDAO reserves drained amid liquidity fears</h2>ETH depositors have rushed to withdraw their funds from NFT lending protocol BendDAO, after dozens of NFT loans were at risk of being liquidated last week.BendDAO’s reserves were drained to a Sunday low of five ether (ETH) from more than 10,000 wrapped ETH.A new governance proposal seeks to see BendDAO gradually lower the liquidity threshold to 70% from its current 95%, shorten a liquidation amnesty window from two days to four hours and increase interest rates to incentivize more ETH deposits and repayments.Source: <a href="https://www.coindesk.com/business/2022/08/22/bank-run-at-nft-lender-benddao-prompts-attempt-to-avert-another-liquidity-crisis/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-1">#2. Telegram CEO proposes usernames as NFTs</h2>Telegram CEO Pavel Durov has proposed auctioning millions of reserved Telegram usernames and channel links as NFTs.He was inspired by The Open Network (TON)’s recent sale of over 2,000 .ton domain names. The sale totaled 2,392,002 Toncoin, netting approximately $3 million."Other elements of the Telegram ecosystem, including channels, stickers or emoji, could later also become part of this marketplace."Source: <a href="https://decrypt.co/107963/telegram-ceo-proposes-auctioning-usernames-links-as-nfts" rel="noopener noreferrer nofollow">Decrypt</a><h2 id="header-2">#3. FTX could buy BlockFi for only $15M</h2>FTX US could end up being allowed to buy BlockFi for only $15 million, the minimum price in a deal originally reported as $25 million.Sources said FTX would pay an additional $25 million if BlockFi wins an important regulatory clearance from the U.S. SEC for BlockFi Yield, and another $100 million if BlockFi’s client assets reach at least $10 billion by the time FTX buys the company.FTX US also agreed to pay an amount equal to 25% of BlockFi’s annual operating income, up to a maximum of $100 million. BlockFi’s client assets are at $4.4 billion at the end of Q2 2022 and it projects a loss for 2022.Source: <a href="https://www.coindesk.com/business/2022/08/22/ftx-could-buy-blockfi-for-only-15m-or-a-lot-more-if-crypto-lender-hits-big-goals/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-3">#4. Pudgy Penguins NFTs pump 83%</h2>The floor price for a Pudgy Penguin NFT has spiked 83% in the past two weeks and 69% over the past month, according to data from NFTPriceFloor.To expand its brand presence, the collection is releasing physical plush toys and a children’s book.On Sunday, the collection announced its new nine-member advisory board including executives from Nansen and Meta. A day after, the rarest Penguin in the collection sold for 400 ETH, which is roughly $630,000.Source: <a href="https://decrypt.co/107974/pudgy-penguins-ethereum-nfts-pump-83-as-meta-nansen-execs-join-advisory-board" rel="noopener noreferrer nofollow">Decrypt</a><h2 id="header-4">#5. Campaign launched for arrested Tornado Cash developer</h2>The crypto community has raised over 2,000 signatures in a petition to raise awareness about Tornado Cash developer Alexey Pertserv.Over 50 people protested the arrest in Amsterdam on Saturday.Aave founder Stani Kulechov said that the arrest “makes all privacy/encryption developers a target,” arguing that the Internet would be an unsafe place without encryption.Source: <a href="https://cryptobriefing.com/crypto-fans-launch-campaign-arrested-tornado-cash-developer/" rel="noopener noreferrer nofollow">Crypto Briefing</a>--The ApolloX app is available on Apple Store or Google Play <a href="https://apollox.onelink.me/rf4R/newscryptowndl" rel="noopener noreferrer nofollow">here</a>.Stay up to date with ApolloX!<a href="https://t.me/apollox_com" rel="noopener noreferrer nofollow">Telegram</a> |<a href="https://twitter.com/ApolloX_com" rel="noopener noreferrer nofollow"> Twitter</a> |<a href="https://www.facebook.com/ApolloXcom" rel="noopener noreferrer nofollow"> Facebook</a> |<a href="https://www.instagram.com/apollox_com/" rel="noopener noreferrer nofollow"> Instagram</a> | <a href="https://apollox.link/blog-discord" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://apollox.link/blog-APXNewsStation" rel="noopener noreferrer nofollow">ApolloX News Station</a>

Crypto News of the Day: BendDAO reserves drained, Telegram CEO proposes username NFTs

Table of Contents

APX

Other articles published on Aug 23, 2022

Above Phone partners with Presearch on secure, private phone

Golden Ball $GLB Liquidity Generator 5% AutoLP

Our IKO with Tago has been Postponed

Solana was Attacked

Top Cryptocurrency News: South Korean Financial Titans Want to Create Virtual Assets Exchange in ...

What are FOMO AND JOMO?

Join our free newsletter for daily crypto updates!