Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid

Bitcoin is nearing all-time highs in price and market cap last set three years ago.

The attack artificially inflated the supply of OUSD tokens within the protocol before swapping the newly printed tokens on SushiSwap and Uniswap for USDT. The team has since disabled deposits and the price of the project's native token was down 85% on the news.

Nathan McCauley, Anchorage's co-founder and CEO, told CoinDesk the company is looking to "Serve the emerging needs of large banks looking to integrate crypto" with the license, which would give Anchorage the clear authority to act as a "Qualified custodian" for institutional investors in all 50 states.

Galaxy's fundCrypto merchant bank Galaxy Digital will launch a bitcoin fund in Canada, called the CI Galaxy Bitcoin Fund.

'Digital silver' flipsLitecoin jumped to nine-month highs early on Tuesday, replacing bitcoin cash as the seventh-largest cryptocurrency by market value.

With the jump, Litecoin now has a market capitalization of $4.90 billion, higher than bitcoin cash - which underwent a hard fork on Sunday - at $4.67 billion.

Instituted in September in a bid to regain market share from the upstart protocol SushiSwap, Uniswap allocated approximately 20 million UNI to four mining pools - ETH/USDT, ETH/USDC, ETH/DAI, and ETH/WBT. SushiSwap, a genetic clone of Uni, burst on the scene as a fully decentralized market maker, offering the one thing Uniswap lacked: a governance token.

Uniswap responded to the threat by airdropping some 1 billion UNI governance tokens to community members, team members and investors, and instituting the liquidity mining program.

Uniswap's total value under lock first broke $1 billion in September after introducing UNI rewards.

Now, facing a tough governance vote, total value on the platform tanked nearly 55% to $1.4 billion at press time, according to DeFi Pulse.