Binance Conducts Fundraiser to Bail Out Victims of Axie Infinity Hack, ETH Drops Over 4%

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Binance, the world’s largest crypto exchange by volume, is reportedly leading a contribution campaign to build a rescue fund for victims of the Axie Infinity blockchain game hack.

Click here to learn more about the hacking incident, which cost users an estimated $615 million.

In other news, Goldman Sachs is set to offer an over-the-counter Ethereum (ETH) trading option to its institutional clients.

Meanwhile, the global crypto market capitalization fell 4.52% to $1.99 trillion as of 8:50 a.m. Global crypto volume, however, increased by 9.12% to $121.06 billion, according to data from Coinmarketcap.
“Bitcoin (BTC) is back to near $42,000 and is currently trading slightly above $43,000. Market leaders are down around 5% and the market is in the red,” says Gaurav Dahake, CEO and Founder of Bitbns.

Cryptocurrency prices

BTC, the world’s oldest cryptocurrency, was trading at $43,256.56, down 4.41% in the past 24 hours. ETH was also trading down 4.94% at $3,179.76.

Among other major coins, Cardano (ADA) was down 7.41% at $1.06, but Algorand (ALGO) was trading with a loss of 4.38% at $0.7758. Binance Coin (BNB) fell 4.01% to $423.30, Solana (SOL) lost 8.66% to $113.27, and Polkadot (DOT) was also trading down 7.39% at $19.94.

Today’s top gainer was Metacyber (METAC) which rose 700.14% to $0.0000009002. The big loser was Dark Matter (DKMT), which was down 98.18% at $0.0001298.

Meme Coin and DeFi prices

Dogecoin (DOGE) fell 11.66% to $0.1511. Its volume to market capitalization ratio is 0.1592. Rival Shiba Inu (SHIB) fell 0.77% to $0.00002433.

Dogelon Mars (ELON) was down 5.39% to $0.0000009189, and Floki Inu (FLOKI) gained 9.21% to $0.00003211. Samoyed Coin (SAMO), however, lost 8.61% to $0.02011.

In the DeFi segment, YFI (yearn.finance) was trading with a loss of 6.51% at $21,498.19. Terra (LUNA) was also down 7.05% at $108.47. Avalanche (AVAX) lost 6.57% to $83.38, Uniswap (UNI) fell 7.76% to trade at $9.98 and Aave (AAVE) fell 5.49% to trade at $200.71.

Last update

Sky Mavis, a Vietnam-based blockchain company and developer of Axie Infinity, said it would refund money users lost in the hack through internal balance sheet funds and $150 million raised from Binance, a16z and others. “Sky Mavis is committed to reimbursing all lost funds from our users and implementing strong internal security measures to prevent future attacks,” said Trung Nguyen, CEO of Sky Mavis, according to various media sources.

Andrei Kazantsev, global head of crypto trading at Goldman Sachs, told a webinar that the bank is preparing to offer an ETH over-the-counter trading option for its institutional clients in due course. Goldman does not provide a spot crypto trading product, but it intends to use European and Canadian exchange-traded products as a proxy to offer its over-the-counter crypto product, Bloomberg reported.

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