TLDR Index
TLDR Crypto

TLDR CRYPTO 2023-11-03

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01MARKETS & BUSINESS

PAYPAL RECEIVES SEC SUBPOENA OVER STABLECOIN

PayPal is cooperating with a subpoena from the SEC seeking documents following the August launch of its stablecoin. The stablecoin, which PayPal says is backed by a dollar reserve, has caused concern among some US lawmakers who believe it needs more federal regulation. Stablecoins have been in the crosshairs of regulators lately as the House Financial Services Committee recently passed a bipartisan bill aiming to provide regulatory clarity for this technology.

blockworks.co3 min read

SAM BANKMAN-FRIED FOUND GUILTY ON ALL SEVEN CRIMINAL FRAUD COUNTS

Cryptocurrency exchange FTX founder Sam Bankman-Fried has been found guilty on all seven criminal counts against him. The jury convicted him for various types of fraud against FTX customers, Alameda Research lenders, and FTX investors. The charges were related to the collapse of FTX and Alameda late last year. He could now face up to 115 years in prison.

cnbc.com5 min read

02INNOVATION & LAUNCHES

PRIVACY TECHNOLOGY FIRM NYM PLANS EARLY 2024 ROLLOUT OF 'DECENTRALIZED VPN'

Nym Technologies, backed by Binance Labs and a16z, is planning to release a decentralized VPN called NymVPN in early 2024. Unlike traditional VPNs, NymVPN will route user data through multiple nodes to improve privacy and security. This comes after Nym's announcement last month that it received $300 million in commitments from investors to fund projects supporting privacy in the crypto ecosystem.

coindesk.com2 min read

AMKT V2: THE SIMPLEST WAY TO GET EXPOSURE TO CRYPTO

Alongside has unveiled the latest version of AMKT, a crypto index product now completely on-chain. It offers users a straightforward, low-fee way to get broad-based exposure to crypto. The company emphasized the benefits of crypto to reduce intermediaries and create more efficient markets. The Alongside team has had multiple audits and has an active bug bounty program to mitigate risks.

twitter.com2 min read

03GUIDES & TUTORIALS

WHAT TO LOOK FOR IN A ROLLUPS-AS-A-SERVICE (RAAS) PLATFORM

This guide lays out some basic things a Rollups-as-a-Service platform should have to help startups deploy and maintain blockchains. In choosing a RaaS platform, considerations include the quality of sequencers, autoscaling of remote procedure calls, auxiliary infrastructure such as bridges, block explorers and transaction tracers, integrations with popular crypto products and services, expert guidance, continuous maintenance, and operation support.

conduit.xyz3 min read

TOKEN VALUATION 101: WHY YOU NEED A VALUATION WHEN USING TOKENS AS COMPENSATION

This blog explores what token valuations are, their importance, the timing, factors affecting these valuations, and how frequently a project should examine its token valuation. It also explores when a project should get its first token valuation, the necessity of token valuation prior to token minting, separating equity and token valuations, and the importance of token valuation during exchange trading.

magna.so9 min read

04MISCELLANEOUS

NORTHERN DATA SIGNS $600 MILLION DEBT FACILITY WITH TETHER

German firm Northern Data is borrowing $600 million from Tether to expand its data center operations and bitcoin mining business. Proceeds will be used to enhance its Taiga Cloud, Ardent Data Centers, and Peak Mining. This follows Tether's subsidiary Damoon purchasing $427 million of NVIDIA GPUs for AI cloud computing. Despite a decline in market share this year, Northern Data recently pre ordered new mining technology worth $150 million.

theminermag.com1 min read

BREAKING DOWN COINBASE’S EARNINGS

Coinbase's Q3 performance beat expectations, but the markets were still not pleased with the results. It had a revenue decline that was attributed to a slow Q3 across the crypto industry. The growth story the Company focused on was Base, positioned to be the next Square or PayPal through peer-to-peer and merchant payments. Although trading volumes dropped, the company's international regulatory outlook improved in the quarter, giving it greater potential for growth. Nevertheless, the third consecutive quarter of declining revenue outweighed the positive elements of the release.

twitter.com5 min read