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Investors recently withdrew ~$206 million from crypto investment products (e.g., ETF/ETP), likely due to expectations of persistently high interest rates. U.S. spot bitcoin ETFs had significant withdrawals, while crypto futures in the U.S. saw even larger outflows, contrasting with inflows in Canada and Switzerland.
Thailand's SEC is expected to restrict access to unapproved crypto platforms to prevent illegal activities like money laundering. This aligns with measures in India and the Philippines and follows Thailand's positive regulatory steps towards cryptocurrency this year.
The OP_CAT opcode has formally received proposal number 420. BIP-420 will allow two values to be concatenated in the Bitcoin scripting language. Though trivial in implementation, this feature greatly increases Bitcoin's functionality by introducing covenants that enable smart contracts, cryptographically secure bridges, zero-knowledge proof verification, and other useful features. OP_CAT has received much attention recently because the Taproot Wizards promoted the opcode through its Quantum Cats Ordinals.
In a brazen $33 million rug pull, the crypto betting platform ZKasino converted over 10,500 ETH of user funds into $ZKAS tokens at an inflated price without consent and imposed a 15-month vesting schedule. Despite numerous red flags, including the founder's shady past, unpaid employees, and abruptly canceled token listings, ZKasino managed to raise a massive war chest before ultimately shutting down communication channels and banning users who called out the scam.
The increasing centralization of power, exacerbated by AI, poses significant risks to society. Decentralized systems like open-source software, public blockchains, and NFTs, combined with the power of memes and culture, can serve as an essential safety valve against potential centralized nightmares.
Crypto's path to hundreds of millions of users will come by making the user experience drastically better than Web2. Passwordless keys, web wallets, smart contract accounts, and open social graphs remove many frustrations around having multiple accounts, two-factor authentication, and siloed information. Signing into new apps will be a one-click process, with all relevant information and finances immediately available. Crypto will make the internet more usable and interconnected than ever before.
During a bull market, it is difficult to distinguish between valuable, long-term innovations and "noise" (short-term, copycat projects).
Although overall stablecoin supply has increased year-over-year, USDT, the market leader, has seen the majority of gains ($85 billion to $110 billion market cap) whereas USDC supply has risen from $31 billion to $34 billion.
EigenLayer has over $15 billion in total value locked, but its actively validated services (AVSs) will likely only need 10% of that.
Bitcoin mining is quickly growing, with the total market cap of publicly listed Bitcoin miners at over $20 billion.
Mintair now supports the deployment of Eigen Layer Mainnet Operator nodes with a simple one-click process without the need for running a full node.
In a recent report, the International Monetary Fund mentioned that Bitcoin is a savings tool “for individuals in high inflation countries.”