👺 Binance’s FAKE acquisition

Namaste, this is the doodhwala, we serve you the biryani just the way you like it, without the elachis (aka cardamom). 🤢

Here’s what’s on the menu today:

• 👺 Binance’s FAKE acquisition

• 💰 Aptos going BRRR

• 📊 Optimism loses it

• 🟠 New Bitcoin millionaires

• 🤣 Milky Meme of The Day

Let’s get eating 🍴

👺 Binance’s FAKE acquisition

Binance, the largest exchange in the world, is tryna wipe out what once was the largest crypto exchange in India, WazirX.

Here’s the movie plot:

🍿 In 2019, Binance said they acquired WazirX.🍿 In 2022, Binance’s CEO said they never “owned” WazirX.🍿 In 2023, Binance’s threatened to “crush’ WazirX.

Alright, let’s get into it.

After six months of 🤫 on the Binance 🤜 🤛 WazirX spat, we’ve finally got an update.

But this one might just end up crushing WazirX and giving up millions to Binance through a two-year old purchase agreement. 👀

We wrote about this 6️⃣ months ago.

(btw we’re☝️ so embarrassed to show ya’ll the old doodhwala, but it’s got an NFT we minted).

Now, 6️⃣ months later (cause everyone is busy reading the doodhwala), Binance dropped some demands to WazirX.

What’s funny is they dropped these demands on — January 26 (Republic Day, but more importantly a national holiday, right before a weekend). And they demanded a reply in 4 days. 🤣

Bruh, CZ pulled a, “drop some work right in the middle of the long weekend” stunt 😭

Binance’s demands to WazirX:

1️⃣ WazirX should publish a “clarificatory statement” taking back the statement that Binance owns WazirX

2️⃣ WazirX should remove Binance’s name from its terms and conditions

I’ve got a few questions:

• tf is a clarificatory statement?

• will the clarificatory statement have memes?

• who tf reads terms and conditions anymore?

But simple words are not WazirX’s biggest problem right now.

There are large piles of money 💰💰💰 being taken away by Binance.

As part of the “acquisition,” WazirX gave ownership of certain accounts to Binance in 2020.

The problem here is — these accounts were:

👉 owned by Binance👉 controlled by Binance👉 funded by trading fees on WazirX’s

💀

Live scenes from the WazirX office:

How much did WazirX transfer to these accounts?

Oh no big deal really. Not a big number at all.

Just $67 MILLION or Rs 540 CRORE. 😭

WazirX could continue to “access and operate these accounts” but it would have to be “for the sole benefit of Binance.”

Like wtf? That’s like if I put my money in my friend’s wallet. But the only way I can use it is to buy him Chicken McNuggets at McDonald's.

Bro wtf kinda logic is that? 🤣

But seriously tho (that’s a first for us 🥲), things ain’t looking good for WazirX.

Here’s how the story goes:

💀 Binance has laid down its demands — issue a clarification + remove us from T&Cs.💀 WazriX does not comply, Binance will disable WazirX’s wallets.💀 WazirX will get crushed as 90% of its funds are held on wallets controlled by Binance

Wait, hold up, did CZ just kill WazirX? 🫢

Let us know by replying to this email. 💌

💰 The not-so-obvious reason for Aptos going brrrrrr!

Aptos.

It’s a new blockchain that sounds like the name of a chips company. (Aptos Masala Masti flavour 🤤)

Aptos is a Layer-1 blockchain that was released to compete with other L1s like Ethereum, Solana, Avalanche, etc. by offering more speed and scalability.

It was launched in October 2022 and that launch…

…man! It was a little rocky, to say the least. 😅

• The tokenomics was released late

• Exchanges listed APT tokens without the tokenomics 🤦‍♂️

• Over 50% of the tokens are “locked” and controlled by the team 😬

Most of us thought this project was as ded as I was after watching Avatar-2. (what was that storyline?? 😢)

But the big VC money pulled through after all. 🤷‍♂️

Over the past few weeks, the APT token has been rallying hard.

Just in the past 7 days, the price has increased by 40% 🔥

This is happening for a few obvious reasons:

⚙️ increased developer activity🔁 increased social engagement

But here’s the not-so-obvious reason:

N….F….Ts baby! 💰

Aptos NFTs have been a HUGE driving force on the network. Here’s why:

🔥 1 MILLION

There have been over 1 million NFTs minted across 5k+ collections just in the past few months. 🤯

💰 $77 MILLION

The top collection on the network, Aptos Monkeys, has registered over 429k APT in volume.

That’s $77.3 million in volume! 🔥

In terms of daily trading volume on these NFTs, it's currently averaging at around $120k

📈 92%

Rise wallet, the go-to wallet for the Aptos Network, has seen a 92% uptick in weekly active users, just in the past two weeks! 😎

And out of all the transactions that have been signed from this wallet during this period, it has predominantly been engaging with NFT marketplaces like:

• Topaz

• BlueMove

• Launch My NFT

Creating strong communities through NFT collections is certainly a great approach to driving activity on a network.

This is why a lot of new blockchains prioritize building NFT communities along with the DeFi infrastructure, and wallet ecosystem. 🔥

But is this enough to keep Aptos going, despite its flaws of not being truly decentralized? 🤨

Prolly not.

Then again, only time can tell. 🤷‍♂️

🎮 Gameswala: Cinema Ka Chokra

Can you guess the name of this blockbuster 💥

Ngl Micheal made me cry 😢 for the second time after the Office 🏢

Hint: 📽️ This Movie was inspired by the 2008 Financial Crisis aka the birth of Bitcoin 📈

(answer at the 👇 bottom 👇 of the email)

🛠 Resourcewala: Dora the Etherscan Explorer

As a kid, one of our favv tv shows was Dora The Explorer. 🔎

She would put on her backpack 🎒 , take her pet 🐵 monkey with huge boots (wait what did you think?), avoid mean little 🦊 foxes, and find the treasure.

Ya’ll can do this with blockchains too. 🤯

How?Using blockchain explorers.

The most popular blockchain explorer?DoodhscanEtherscan

But how tf do you use Etherscan? 🤨

Chegg it 👇

📊 Chaach And Charts: Optimism loses it

Optimism.

It’s a layer 2 blockchain.

And the mood when my crush looks at me for a second, and I immediately start dreaming of the wedding. 😍

But ngl Optimism is getting 💩 on by Arbitrum (just like my romantic dreams 😭)

Optimsim’s market share (by total value locked) among Ethereum L2s has been slipping.

🗓️ August 2022 → 65%🗓️ November 2022 → 50%🗓️ January 2023 → 33%

Rn, Arbitrum has over 60% market share for L2s 👇

🍼 Crypto doodh shots: New Bitcoin Millionaires

• 💰New Bitcoin millys: Crypto market revival leads to the creation of 44,000 new Bitcoin millionaires

• 🪙 A-DA Wallet Idhiya? In January, over 50,000 new Cardano wallets were created.

• 🛞 Blockchain on Wheels: California taps into Tezos to bring vehicle titles and registration on-chain for a pilot project.

• 🇸🇦 Habibi, New Oil: Saudi Central Bank is all set to do the tango with CBDCs.

• 🖼️ Download JPEG: Hackers hijack NFT project Azuki's Twitter profile and swoop over $750K worth of assets.

😂 Milky Meme Of The Day

Let us know what you think 👇

If you want more doodh then, be sure to follow our Twitter (@DoodhwalaDaily)

That’s all for today bhaiyo aur bheno! Naale Sigona!

Aakash "Dahi Cheeni" Athawasya & Arvind "Doodh Peda" Krishna

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer.

None of what you read here is financial advice. We aren’t here to get you to buy or sell a crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.