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- š„ What to expect in February šļø
š„ What to expect in February šļø
PLUS: The $400M mystery has been solved š
Todayās edition is brought to you by ZKX ā the OG Perps Exchange on Starknet. Gamified like never before!
GM. This is the Milk Road, we help you slice through crypto news like a game of Fruit Ninja.
Hereās what we got for you today:
What to expect in February šļø
The $400M mystery is solved š
Facebookās metaverse losses hit $4.6B šŖ
WHAT TO EXPECT IN FEBRUARY šļø
February is here. And two things consistently happen this monthā¦
a) 84% of men dash to the nearest grocery store for last-minute Valentine's Day flowers (guilty as charged).
b) BTC and ETH usually see green monthly returns. In factā¦
The only other month that consistently sees as much green is October (dubbed āUptoberā).
So the million-dollar question is: will February 2024 be a green month?
We canāt predict the future, but here are a few big events that could make or break the month:
Ethereum will go through its final test for the Dencun upgrade. If itās successful, the real upgrade could be scheduled for the end of February or early March.
Hong Kong regulators could approve the first BTC spot ETF later this month. Itās estimated that there are ~10 asset managers exploring ETFs in Hong Kong.
Token unlocks. 27 crypto projects are expected to unlock tokens worth ~$900M this month. (Milk Road Rule #58: where there is a token unlock, there is price volatility).
P.S. - if youāre curious what else is happening this month, check out the crypto calendar below:
Unless youāve been living under a rock, you know the immense potential of DeFi. But picture thisā¦
Barriers to entry such as complex UI, high gas fees, and an unfamiliar experience hold many people back. What's more, current reward systems often sideline diverse contributions in favor of high-volume traders.
As DeFi evolves, ZKX recognizes the need for a holistic platform for users to engage and contribute.
Enter OG Trade: A gamified perpetual swaps exchange on Starknet designed for scalping, short-term, and all types of traders.
But thatās not allā¦
30-minute trading competitions with traders for each asset: ETH, SOL, & BTC.
The top 3 traders in profit, volume, and loss categories earn unique badges (you can finally lose with honor).
Gamification is enhanced with four clans based on on-chain history: Pachinko Degens, Yakuza Barons, Ethereum Titans, and DeFi High Rollers.

Back in November 2022, hundreds of millions of dollars were stolen from FTX.
Itās been a wild goose chase trying to figure out who was behind it.
Was it⦠an inside job? North Korean hackers? The crew from Oceanās Eleven?
14 months later, the mysteryās been solvedā¦
It was a trio of SIM swappers.
According to the Department of Justiceās investigation:
3 individuals carried out SIM-swapping scams targeting multiple victims, from March 2021 through April 2023.
One of the victims was an FTX employee.
The attackers gained access to the FTX employeeās AT&T account by using a fake ID.
As a result, they were able to unlock FTXās online accounts and stole ~$400M.
So what? SIM swaps are on the rise. At the end of last year, $13M+ was stolen across 54 different SIM swap attacks.
Here at Milk Road, we donāt want you to become just another statistic. So here are some common tips everyone should follow:
Stay safe out there, fam.

Constellation Networkās Enterprise Advisory Board is shaping the way that institutions integrate blockchain technology. Theyāre doing so by combining some of the brightest tech and finance minds from The World Bank and companies like Microsoft and JPMorgan. Meet the board here!*
Facebookās Reality Labs reports revenue hit $1B last quarter. The bad news? The metaverse-focused teamās losses hit $4.6B. Oof.
Polygon Labs laid off 19% of their staff. They will also be spinning out their Venture arm and digital identity group as separate organizations.
BlackRockās spot bitcoin ETF overtakes Grayscaleās GBTC in daily volume. IBIT registered $304 million in trading volume compared to $292 million for GBTC.
The U.S. Department of Justice will begin surveying the electricity use of U.S. crypto miners next week. The move follows the approval of its āemergencyā data collection request.
CoinShares is sharing its ETH staking yield with its clients. Investors of the Europe-listed CoinShares Physical Ethereum ETP will earn a 1.25% staking reward per year.
The average potential crypto rug pull makes $2,600 in profit. According to the report from Chainalysis, of all Ethereum ERC-20 tokens listed on DEXs in 2023, more than half met the criteria for possible pump-and-dump schemes.
*This is sponsored content

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playing chess, while everyone else plays checkers
ā Milk Road Images (@MilkRoadImages)
3:56 PM ⢠Feb 2, 2024
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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