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A federal appeals court has allowed Kalshi, an online prediction market, to offer election betting, rejecting a government watchdog's bid to block the ruling. While concerns remain about the impact on election integrity, the court found that the Commodity Futures Trading Commission hadn't shown that allowing these bets would cause irreparable harm.
Franklin Templeton has launched its OnChain U.S. government securities fund (FOBXX) on the Aptos blockchain to better integrate TradFi and DeFi. The fund, represented by the BENJI token, provides institutional investors access to U.S. government securities via the Aptos blockchain.
The SEC is appealing a court ruling in the Ripple case, arguing that the decision contradicts long-standing Supreme Court precedents and securities laws. Ripple CEO Brad Garlinghouse responded that the crypto industry has already won on key issues despite the SEC's continued legal challenge.
Kamino Finance's v2 release introduces modular lending markets, offering customizable loan parameters and risk profiles. The new system allows for tailored lending pools with unique settings for different assets, enabling users to deposit to markets that align with their risk preferences and financial needs. Key features include cross and isolated borrowing modes, multi-asset markets, and lending vaults. These are expected to improve capital efficiency and increase the loan-to-deposit ratio from 36% to traditional banking levels.
Musubi by Kinto enables non-custodial swaps across Ethereum without the need for bridges, simplifying asset swaps and uniting liquidity. With features like reduced slippage, lower gas fees, and enterprise-grade security, Musubi abstracts complex processes and offers a smooth, chainless experience while keeping assets insured in the Kinto wallet.
A CoinDesk investigation reveals how North Korean IT workers using fake identities have infiltrated over a dozen blockchain projects, including high-profile names like SushiSwap and Cosmos. These hires not only pose serious cybersecurity risks but also expose companies to legal trouble, as North Korea funnels profits to support its weapons program.
This thread explores the need for more creative consumer crypto applications that bridge crypto and culture, offering real utility beyond speculation and quick profits. It suggests focusing on long-term innovation across areas like news, social media, sports, music, and health, highlighting the potential for decentralized apps to disrupt these industries and bring in a billion users by solving real-world problems.
Uniswap, a leading decentralized exchange, generated $53 million in fee revenue between April and September, following a swap fee increase to 0.25% for most trading pairs. Despite the revenue boost, the move sparked criticism and coincided with legal scrutiny from the SEC, with Uniswap potentially using the additional earnings to address regulatory challenges.
A week ago, it was revealed that 40% of all staked $EIGEN tokens were held by 13 investor addresses, arguably misleading the public about the token's true float and impacting investment decisions.
Bitwise has applied to the U.S. SEC to launch the first XRP spot ETF.
Gurbir S. Grewal, the SEC's Enforcement Director, is resigning after a three-year tenure where he sued ~100 crypto firms and helped secure over $20B in fines and disgorgements.
Grayscale has listed twenty digital assets with high potential for the end of the year.
Recent stablecoin market cap growth is increasing overall crypto market liquidity, potentially driving price increases for bitcoin and other major cryptos. Bullish factors like the FedReserve's policy changes, China's liquidity boosts, and SEC approvals for institutional bitcoin options trading are expected to positively impact BTC market price in Q4.
Japanese company Metaplanet has purchased an additional $7 million BTC after originally acquiring the asset in April as part of its strategic reserve. It now holds over 500 BTC and is the second-largest publicly-traded Asian holder. Share prices have increased over 400% since its initial purchase.
Robinhood Crypto has introduced the ability for European customers to deposit and withdraw over 20 cryptocurrencies, addressing a major demand in the region. As part of the launch, users can also earn a 1% match on deposits for a limited time alongside other perks like zero-fee Bitcoin trading and staking rewards.
HyveDA is a permissionless data availability layer that supports a massive 1GB/s throughput with instant data availability proofs. It is the Symbiotic restaking protocol's answer to EigenDA, which processes 15MB/s. With its high throughput, Hyve is targeting decentralized order books, AI inference, gaming, and L2 use cases.
The 2nd annual State of Seed report analyzed over 1,000 companies that raised seed rounds in 2022, tracking their progress in finding product-market fit, raising follow-on funding, and launching tokens. Key findings show that around 80% of these companies are still operational, though only 1% have reached product-market fit, highlighting the risks of investing at the end of a bull market.
Transaction history is stored in a Data Availability (DA) layer while proofs of execution are sent to settlement layers like Ethereum. This post outlines the properties of different DA solutions, including capacity, cost, security, and ease of integration. There is a trend towards alternative DA solutions like Celestia and EigenDA as they offer improved scalability and cost-effectiveness compared to Ethereum.
Web3, specifically tokens, allows for behavior incentivization and driving users to network effects in a way never before seen, so understanding the value of a token is critical. Maximize your win rate with the most creative, innovative companies in your industry as customers or partners. The smartest users and customers in a space are important to understand and build for as they pull the whole market with them. It is important to separate power users from regular users or airdrop farmers and invest your tokens and grants wisely.
The M^0 Protocol introduces a novel, decentralized approach to stablecoin management that allows multiple permissioned institutions to mint $M tokens by locking off-chain collateral. It uses two governance tokens, $POWER and $ZERO, to manage governance and encourage active participation. $POWER holders earn $ZERO, which earns protocol fees, by being active governance participants. The M^0 Protocol is still small, with $42 million $M stablecoins in circulation, but a 127% collateralization ratio implies the product has potential for both network effects and resilience.
Synthetix, a pioneering DeFi project, is set for a major overhaul as it looks to regain relevance and efficiency by returning to its startup roots.
As Layer 1 and Layer 2 ecosystems mature, the competition to attract developers is intensifying, with Ethereum's EVM (Base) and Solana's SVM leading the race.
Jesse Pollak, the lead for Coinbase's Ethereum Layer 2 network, Base, was appointed to head Coinbase Wallet and will join Coinbase's executive team.
Charles Schwab has signaled interest in offering cryptocurrency trading services contingent on regulatory changes.
There has been an increased trend of corporate adoption of Bitcoin, with six companies, led by MicroStrategy, purchasing around 49,000 BTC since its all-time high in March. Since April 2020, when MicroStrategy made its first Bitcoin purchase, an estimated 15 companies have added Bitcoin to their balance sheets, much of which came during the 2021 bull market or after BTC ETFs launched.
Federal Reserve Chair Jerome Powell has indicated the possibility of two additional interest rate cuts this year totaling 50 basis points. This signals a shift in the Fed's monetary policy as it responds to evolving economic conditions.
Donald Trump announced plans to "Make America Great Again" with a focus on crypto, highlighting World Liberty Financial's initiative to position the U.S. as the crypto capital of the world. The whitelist for eligible participants is now open.
Bithumb, South Korea's 2nd-largest crypto exchange, is considering listing on the Nasdaq and has discussed potential IPO plans for the second half of 2025. Regulatory challenges in South Korea on the status of crypto as financial products have influenced Bithumb's consideration of U.S. markets over a domestic listing on the Kosdaq.
This article from Vitalik Buterin addresses how to properly balance decentralization and cooperation within the Ethereum ecosystem by proposing a more measurable concept of “Ethereum alignment.” Specific criteria include open source practices, adherence to open standards, decentralization and security, and positive-sum contributions to Ethereum and the broader world. There should be clear tracking mechanisms to create a more meritocratic and inclusive ecosystem to have projects compete on alignment rather than social connections or attention.
Crypto x AI can be broken into four categories: compute, training, infrastructure and data, and apps. Several projects build networks of distributed GPUs whilst others work on distributed training networks. Many builders in the data and AI agent field and apps focus on engineering, trading, and gaming.
Even after billions of dollars of investment, interoperability is still complex and primarily valuable for sending tokens. Choosing a chain without good connectivity or a thriving ecosystem can mean an early death, no matter how promising an app is. Liquidity fragmentation, better latency, and more accessible connections are essential for true interoperability. Polymer Hub is one of the solutions aiming to solve these problems.
Gemini, a crypto exchange founded by the Winklevoss twins, announced it will close all Canadian customer accounts by December 31, giving users 90 days to withdraw their assets.
The Celo blockchain has seen increased transactions, particularly in stablecoin volumes, as it becomes more Ethereum-aligned and transitions to an L2.
FTX Token increased by ~70% to $2.70, its highest since March 2024, amid rumors of bankruptcy distributions, although the bankruptcy plan is still pending approval with a court hearing scheduled for Oct 7.
NFT sales have dropped to their lowest monthly volume since 2021, with a significant 32% decrease in transactions from August to September, while the total sales value fell 20% to $296 million.
BlackRock's Ethereum ETF has garnered $1B in assets just two months post-launch, highlighting renewed investor interest in US-based spot ETH ETFs. This achievement comes after an uptick in weekly inflows across several Ethereum funds, illustrating a potential positive shift in market sentiment.
The Mango DAO has settled with the SEC after being charged with offering an unregistered security - the MNGO crypto asset. The DAO, Mango Labs, and the Blockworks Foundation will pay $700,000 in penalties and burn their MNGO tokens.
Uniswap Labs and Across Protocol have introduced ERC-7683, a proposed standard to address fragmentation in intents-based systems by creating a universal filler network. This standard aims to streamline cross-chain transactions, improve user experience, and reduce gas fees by allowing fillers to compete for executing orders more efficiently.
Fintech companies Robinhood and Revolut are considering creating stablecoins. The market has proven to be incredibly lucrative, as demonstrated by Tether's $5 billion in profit for H1 2024.
Binance had a lot of issues around a lack of controls and illicit financial activities on its platform, but these problems plague any rapidly-going financial entity in a new industry. In fact, existing financial institutions, including Goldman Sachs, paid billions of dollars in the past few years for similar violations. Binance's CEO faced severe penalties while similar or worse violations by traditional banks have resulted in much smaller consequences, suggesting a bias in how the two systems are treated.
The Fat Protocol Thesis says that chains capture more value than apps built on them since apps have weak moats and drive network effects to the underlying chain. This idea has spurred L2s to raise at massive valuations, even though they don't have valuable apps. The new “Fat App Thesis” is that there's outsized value to crypto apps as they are at the end of the infrastructure boom and are beginning to have user moats. At the same time, chains have become interchangeable and the attention economy has been extended to web3 with a few major winners.
Last week, the Base L2 experienced a 17-minute block-building outage due to a misconfiguration in its newly implemented conductor sequencer cluster. This misconfiguration resulted in a failure of leadership transfer between sequencer instances. While the chain's integrity and user funds remained secure, the incident highlighted the need for improved configuration management processes and more robust failover mechanisms. Base has committed to fixing the issue and preventing similar problems from happening.
Ethereum's weekly transaction fees reached $45M, the highest since June 10, indicating stronger network activity and better price performance.
Changpeng “CZ” Zhao, the founder of Binance, was released from his four-month prison sentence on Friday.
FTX has agreed to set aside up to $230M from government forfeiture proceedings for certain shareholders, not creditors, a decision revealed unexpectedly after creditor voting closed.
Turkey has dropped plans to impose additional taxes on stock trading and crypto profits, with Vice President Cevdet Yilmaz stating that these measures are no longer on the government's agenda.
SEC Chair Gary Gensler warned that the crypto industry won't survive without stronger investor protections, citing the collapse of major firms like FTX and Three Arrows Capital as evidence of the need for regulation. While reiterating that most cryptocurrencies are securities, he confirmed that Bitcoin remains an exception, emphasizing the importance of trust and disclosure in sustaining the sector.