TLDR CryptoAugust 28, 2024

TLDR CRYPTO 2024-08-28

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01GENERAL

GLOBAL WEB3 LEADERS FOR MERIDIAN 2024

Meridian is the Stellar Development Foundation's annual conference — and this year's London event [4] is a must-attend for anyone in the blockchain space.

meridian.stellar.orgSponsor

meridian.stellar.org

02MARKETS & BUSINESS

HOW A COLORFUL INVESTOR PROFITED FROM A CRYPTO GIANT'S DEALMAKING

Tether is investing its massive profits into AI and neural implant companies with assistance from controversial tech investor Christian Angermayer. It has already spent $1.5 billion on majority stakes in Northern Data, a German data center operator, and brain-computer interface maker Blackrock Neurotech. These deals mark an expansion of Tether's business from stablecoins, where it earns $4 billion annually, into new technologies, though Angermayer has a questionable track record on past deals.

links.tldrnewsletter.com9 min read

TONCOIN AND ETHER LEAD DOWNTURN AMID SURGE IN CRYPTO LONG LIQUIDATIONS

Toncoin and Ethereum have led a downturn in the crypto market, with Toncoin seeing a 20% decline following the arrest of CEO Pavel Durov. The crypto market overall saw over $144M in long liquidations within 24 hours, heavily impacting these two cryptocurrencies amid broader market corrections.

theblock.co2 min read

03INNOVATION & LAUNCHES

MAKERDAO REBRANDS TO "SKY" AND SCHEDULES USDS STABLECOIN LAUNCH

MakerDAO has rebranded to "Sky" and is set to launch a new stablecoin, USDS, and a governance token, SKY, on September 18, marking a large overhaul in its operations. The rebranding includes a new UI that aims to make the platform more approachable and expandable with a metaDAO ecosystem called "Sky Stars" for decentralized project governance. While the existing DAI and MKR tokens will remain, they can be voluntarily upgraded to the new tokens.

x.com1 min read

MAGIC EDEN'S MINT TERMINAL

Magic Eden has launched Mint Terminal, which aggregates minting platforms. It currently aggregates mints on Ethereum, Polygon, and Base.

x.com1 min read

04GUIDES & TUTORIALS

SPOTLIGHT NARRATIVES, BREWING NARRATIVES, AND DORMANT NARRATIVES

The market is currently driven by a few prominent narratives, including new L1s like Berachain and Monad, the TON ecosystem, stablecoins, and institutional adoption. Emerging trends like progressive web apps, DeFi blue chips, and ETH restaking are gaining momentum and could become dominant soon. Dormant narratives, like GameFi, SocialFi, and NFTs, are slow right now but could revive eventually.

x.com5 min read

WEEKLY TECHNICAL READS

This thread highlights some interesting technical papers and reads about topics like ZK Machine Learning, verifiable sequencing, and DeFi exploits. It also recommends “Thinking in Systems: A Primer” as a quick read to help understand crypto protocols.

x.com2 min read

05MISCELLANEOUS

ERIC WALL'S THOUGHTS ON THE CRYPTO MARKET

Bitcoin is becoming increasingly attractive as a simple, gold-like asset, even with all its flaws and areas for improvement. It staying as the #1 asset is critically important, as it simplifies the pitch to investors about how to choose a winning digital asset. Ethereum has been a loser this cycle as value has been extracted by VCs, hence why money has been flowing into memecoins. Going forward, AI will become a bigger problem for crypto as it outcompetes in mindshare and developer talent.

x.com4 min read

AI AGENTS WILL REVOLUTIONIZE DECENTRALIZED STABLECOINS

Stablecoins face a trilemma around scalability, decentralization, and stability. Payments have been Crypto's first killer app, becoming a global payment system, especially in countries with unstable fiat currencies. AI agents can improve scalability by dynamically minting and redeeming. Agentic payments, where AI pays for goods on users' behalf, are the future of payments.