⏪ Doodhwala Weekly Recap: August 7

Vanakkam. This is the Doodhwala. The crypto newsletter that’s as entertaining as Phir Hera Pheri and as informational as H.C Verma’s Concepts of Physics. Both Part 1 and Part 2.

Here’s the delayed recap of this awesome week:

• Monday: Vauld has been given a KBC lifeline

• Tuesday: Magic Eden to do Ethereum tricks

• Wednesday: Big ETH whale goes shopping

• Thursday: Solana wants you to stop using mobile for crypto

• Friday: Instagram NFT coming to India

Monday: Vauld has been given a KBC lifeline

Vauld, the Indian crypto lender that paused all activity and gave us a big heart attack, has been given 3 months to save its butt.

The company applied for a moratorium, which would keep them sheltered from any legal action by the 1.4 lakh creditors they owe.

The Singapore court granted it for just 3 months instead of the requested 6 months.

Well, Vauld can't complain and will have to make do with it.

They are already working on a restructuring plan to kickstart business and have been doing an incredible job communicating it to distressed investors.

The plan also includes a potential acquisition by Nexo.

The clock is ticking for Vauld and they need to pull a Tiger from Ek Tha Tiger to come out of this unscathed.

Tuesday: Magic Eden to do Ethereum tricks

Magic Eden, the biggest Solana NFT marketplace, is now integrating Ethereum NFTs.

Does this mean Solana is down real bad or is it just ETH supremacy reigning?

Unfortunately, we aren’t the ones to judge.

But this move by Magic Eden is great for creators.

Now they don't have to choose one chain over the other.

Yeah! Why choose between Doodhwala and The Milk Road when you can have both!

This move also allows the creators to not limit their audience to the users of just one particular network.

Overall, this is a great move for creators, Magic Eden and Doodhwala. (we get to write about it!)

Wednesday: Big ETH whale goes shopping

One of the biggest ETH whales who holds around $850 million worth of ETH has been on a shopping spree!

And it's not even Diwali yet.

The wallet of this crypto whale has been named Bonobo (cute)

In the past few days, Bonobo has spent over $14 million buying up other tokens.

Here’s a list of them:

• $1.1 million OR 1.2 million MATIC tokens

• $1.3 million OR about 200k APE tokens

• $6.3 million for 203k FTT and then another 80,000 tokens for $2.4 million

• $2.2 million for 1.6 million SAND

• Another $1.9 million for 2.04 million MATIC (felt like the initial $1.1 million was too little)

Here’s hoping Bonobo apes in and buys $10 million $DOODH tokens 🤞

Thursday: Solana wants you to stop using mobile for crypto

Solana wallets were attacked on Thursday and the total estimated loss was around $8 million.

While the two most popular Solana wallets, Slope and Phantom, played the blame game like BJP and Congress, Solana co-founder Anatoly came out with another reason for the breach — Mobile Platforms.

Anatoly suspected that the attack came from an iOS vulnerability.

Since there was no evidence of hardware wallets being impacted, they suspect the issue was with iOS.

Anatoly also suggested SOL holders get crypto out of mobiles but not all mobiles.

Just iOS ones.

Because Solana is coming out with Saga- the Android phone for web3. 😉

Friday: Instagram NFT coming to India

Instagram is definitely one of the most addictive apps in our country rn. I’ve spent 4 hours watching dog Reels just today ffs!

After the TikTok ban, we wasted no time in switching to Instagram Reels. Much like some of our politicians switching parties after losing an election.

Now, Instagram announced they are expanding the NFT integration further to 100 countries including namma India!

Instagram plus Crypto is a combination we never gave too much thought.

Like Tiger Shroff and Hrithik Roshan in War. It worked out well though, you have to admit.

But the NFT test run seems to have done well in the US when it was launched in May.

So now, they want to try it in more places.

This is a great feature for artists to directly showcase their art and get paid for it immediately.

Instagram’s creator payment model has been crap if not completely non-existent.

This integration can hopefully change it and give another means for creators to be empowered.

The Doodhwala’s Kaam Board

FOMO stands for Fear of Missing Out.

Fear of missing out on the latest Big Boss episode.

Fear of missing out on the new Rajnikanth movie.

Fear of missing out on the crypto revolution.

We’re turning FOMO → Job Dooh!

So, here are some v v cool crypto companies hiring:

Apply Apply Apply, and let them know you were sent their way through the Doodhwala!

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 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.