Morning Post - November 23

headlines

▌Meta CEO Zuckerberg will step down next year

Sources said that Meta CEO Zuckerberg will step down next year. Meta Platforms (META.O) rose in the short term and is now up more than 1%.

cryptocurrency

▌Mango attackers liquidated after Aave borrowed $20 million worth of Curve tokens

Mango attacker Avraham Eisenberg borrowed 40 million Curve (CRV) tokens (worth $20 million at the time) using the decentralized lending platform Aave, then transferred them to the OKEx cryptocurrency exchange. According to blockchain analytics firm Akrham, Eisenberg borrowed most of the CRV tokens on Aave with $40 million in the USDC stablecoin as collateral. He then sent 40 million CRV to cryptocurrency exchange OKEx in two transactions, according to blockchain data.All of Eisenberg’s CRV loans were liquidated, leaving Aave with $1.6 million in bad debt, according to Blockanalitica’s blockchain data. Eisenberg gained notoriety in crypto circles for exploiting a bug in October to drain $114 million from Solana-based DeFi protocol MangoMarkets. He then returned $67 million to Mango and defended his attempt.

▌Bloomberg Joe Weisenthal: Speculation on cryptocurrency prices is the only source of income for the industry

Joe Weisenthal, co-host of Bloomberg's Odd Lots podcast, compared the unfolding cryptocurrency disaster to the 2008 mortgage crisis.While these crises may seem similar at first glance, according to Weisenthal, the main difference between them is that people still need housing. On the other hand, there are no basic human needs that must be met through cryptocurrencies. Speculation on cryptocurrency prices is the industry's only source of income, Weisenthal said. This is why key "fundamentals" also decline sharply during bear markets.

important economic developments

▌U.S. stocks closed, and the three major stock indexes closed up across the board

Jinse Finance reported that U.S. stocks closed, and the three major stock indexes closed up. The Dow Jones Index closed up 397.82 points on November 22 (Tuesday), an increase of 1.18%, to 34098.1 points; the S&P 500 Index closed on November 22 (Tuesday) up 53.64 points, an increase of 1.36%, to 4003.58 points; the Nasdaq Composite Index closed on November 22 (Tuesday), up 149.95 points, an increase of 1.36%, to 11174.46 points.