Episode 501
📍 Bybit is experiencing massive withdrawals after a $1.4 billion Ethereum theft, with CEO Ben Zhou confirming the exchange remains solvent despite the hack.
📍 Arthur Hayes, co-founder of BitMEX, has proposed rolling back the Ethereum network to negate the hack, citing the community's previous decision to roll back the chain in 2016 after the DAO hack.
📍 However, other market participants are worried that a potential rollback would break the Ethereum ecosystem, hurting bridges, stablecoins, and other interconnected systems, and potentially destroying the network's decentralization claim.
