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POLYMARKET CONSIDERING TOKEN LAUNCH

Polymarket has discussed the possibility of launching a token that could be used to run its betting market.

BASE L2 DOWNTIME

There was a period of roughly 500+ blocks with 0 user transactions.

TELEGRAM TO SHARE PERSONAL INFORMATION WITH AUTHORITIES

If requested by government authorities, Telegram will now have to share user IP addresses, phone numbers, and personal info.

CELESTIA FOUNDATION RAISES $100M

Celestia has raised $100 million in a round led by Bain Capital Crypto, with participation from other leading firms.

Safe as houses. Safe as Boxabl. Invest today.

THIS MESSAGE WAS SENT FROM BOXABL. PLEASE READ THE OFFERING CIRCULAR BEFORE MAKING ANY INVESTMENT. https://boxabl.com/invest#circular

SEC APPROVES BLACKROCK'S SPOT BITCOIN ETF OPTIONS LISTING

The SEC has approved the listing and trading of options for BlackRock's spot bitcoin ETF, iShares Bitcoin Trust, on the Nasdaq. This move demonstrates further mainstream acceptance of crypto, providing institutional investors and traders with more tools to manage and increase their exposure to bitcoin.

VP HARRIS SAYS SHE'LL ENCOURAGE CRYPTO BUSINESS WHILE PROTECTING CONSUMERS AT WALL STREET FUNDRAISER

Vice President Kamala Harris made her first mention of the crypto industry at a recent Wall Street fundraising event. She hopes to build an ‘opportunity economy' by encouraging the innovation of technologies like AI and digital assets. Polymarket currently gives Harris a 52% chance of winning the presidency.

WORMHOLE PARTNERS WITH SECURITIZE

Securitize, a leader in tokenizing RWAs, has partnered with Wormhole to improve multichain interoperability for all its tokenized assets. This collaboration enables seamless movement of assets across different blockchain ecosystems, improving liquidity and broadening access to compliant digital asset ecosystems for asset issuers and holders.

JUMP'S 'FRANKENDANCER' VALIDATOR CLIENT IS LIVE ON SOLANA MAINNET

An initial version of Jump Crypto's Solana validator, Firedancer, is live under the “Frankendancer” name. Firedancer will be Solana's second independent validator client, aiming to allow for incredibly high throughput. There is a lot of excitement around the potential of Firedancer for both decentralization and performance improvements.

WHAT'S NEXT FOR CHAIN ABSTRACTION

Even though account abstraction has been pushed for years, there's been minimal progress towards an ideal user experience. That being said, cost reductions from L2s and smart contract wallets like Privy and Coinbase's Smart Wallets are becoming the norm for consumer crypto apps. Once concepts like MagicSpend++, which allows users to spend their Coinbase balance directly onchain, become commonplace, the cost-to-rewards ratio for introducing account abstraction will make more sense for developers.

EIGENLAYER RESEARCH: INTELLIGENT DEFI

Intelligent DeFi, powered by EigenLayer's Actively Validated Services, allows for trustless offchain compute and data integration. This paradigm can solve gas constraints and a lack of real-time adaptability by utilizing coprocessors for complex computations and secure data inputs. Potential applications include advanced risk management, personalized lending, compliant privacy solutions, and AI-driven yield optimization.

DEPIN TECH SHOWS PROMISE, BUT IMPLEMENTATION FACES SEVERAL HURDLES, MOODY'S SAYS

Moody's first report on decentralized physical infrastructure (DePIN) highlights its potential to improve network scalability and innovation but warns that unclear regulations and substantial hurdles could decrease its widespread adoption. Using Helium as an example of promising progress, the report highlights growing industry attention, despite significant challenges like regulatory ambiguity and cybersecurity risks.

TOKEN 2049 TAKEAWAYS

Token 2049 showed a vibrant crypto scene, with over 600 side events demonstrating the industry's fragmentation and the fierce competition among VC-funded projects for attention. Key debates included the battle between Solana and Ethereum for dominance, the resurgence of alt-L1s, and the shift in strategic focus among blockchain networks from B2C to B2B services, which indicates a bearish outlook for token holders but potential gains for equity investors.

$ME WILL BE AN SPL TOKEN

The $ME token will be launched as an SPL token on Solana, aligning with the vision to build a leading cross-chain dApp ecosystem designed for retail.

DEX AGGREGATOR JUPITER ACQUIRES SOLANAFM AND COINHALL

Decentralized exchange aggregator Jupiter has acquired SolanaFM, a blockchain explorer, and Coinhall, a trading terminal for Solana and Cosmos blockchains, to enhance its data and infrastructure capabilities.

IMF STAFF PROPOSE REDI FRAMEWORK

The International Monetary Fund staff have proposed a four-part REDI framework covering Regulation, Education, Design, and Incentives to facilitate the global adoption of CBDCs.

CELESTIA'S LEMONGRASS UPGRADE NOW LIVE

Celestia's Lemongrass upgrade is its first mainnet upgrade and was coordinated as a community effort.

BITCOIN SET FOR RALLY AFTER FEDERAL RESERVE RATE CUT, STANDARD CHARTERED SAYS

Standard Chartered's Geoff Kendrick is expecting a sustained rally for Bitcoin and other digital assets since the Fed Reserve's rate cut, attributing the expected growth more to favorable macroeconomic conditions than to the outcome of the U.S. presidential election.

TEXAS COURT DISMISSES CONSENSYS LAWSUIT AGAINST SEC

The lawsuit from blockchain infrastructure company Consensys against the SEC has been dismissed. It was filed in April, with Consensys accusing the SEC of opening an investigation into Ethereum and issuing Consensys a Wells' Notice over MetaMask's Swap feature. The SEC's investigation into Ethereum was dismissed as moot - the SEC previously announced this summer it had dropped any investigation into the asset.

SOLANA PHONE 2, “SOLANA SEEKER,” ANNOUNCED

The next version of the Solana phone, the Solana Seeker, has been announced. It improves upon the previous model with a better camera, longer battery, cheaper price, and secure Seed Vault for private keys. The phone comes with a soulbound token offering benefits like free Helium internet access for four months and has integrations with AI agents. It costs $450 and is available for preorders.

HYPERLANE LAUNCHES ON SOLANA AND ECLIPSE

Hyperlane has expanded to the Solana and Eclipse blockchains, improving cross-VM interoperability within the Solana Virtual Machine ecosystem. This includes live routes for token transfers between Solana, Eclipse, and Ethereum, positioning Hyperlane to facilitate the growth of multi-chain applications.

WHAT CREDIT CARD NETWORKS CAN TEACH US ABOUT STABLECOIN OPPORTUNITIES

Just like how each stablecoin has unique characteristics based on its issuer, credit cards use dollars that are almost identical, but are different based on their network and issuing bank. Stablecoin payment flows will likely involve an orchestration service that transfers buyers' stablecoins to sellers' preferred assets, providing significant benefits in cross-border transactions thanks to lower fees and instant settlement.

GETTING A JOB IN CRYPTO/WEB3

This post shares advice on landing a crypto job through building a personal portfolio around your interests — whether it's creating tools, analytics dashboards, or an online presence — and being proactive about seeking opportunities. It emphasizes the importance of networking, showcasing your skills publicly, and maintaining a good reputation while offering resources and tips for both technical and non-technical roles in the crypto space.

ZACHXBT INVESTIGATES A $243M BITCOIN THEFT

This post details an investigation into two individuals, Box (Jeandiel Serrano) and Greavys (Malone Iam), who allegedly stole millions and used the funds for luxury lifestyles, including purchasing cars and designer goods. With the help of Binance and other investigators, over $9M was frozen and both suspects were arrested, with further developments expected as the legal case unfolds.

BUILDING WITH SYMBIOTIC: FAST FINALITY

Symbiotic introduces a modular approach to achieving fast finality in blockchains, which can accelerate cross-chain communication and shared sequencing. It uses operator commitments from restaking alongside fraud proofs to enhance trust. As a modular solution, it can be integrated with various chains without modifications, offering improved speed and reliability for interchain transactions. Other potential modules could support MEV and censorship-resistance.

WHY THERE AREN'T MORE AA APPS

Despite Vitalik Buterin's support, Account Abstraction (AA) has seen minimal real-world adoption because of unfavorable cost-benefit ratios for developers and users (e.g., higher network costs and complex user onboarding).

BANANAGUN DOWNTIME DUE TO SECURITY CONCERNS

After detecting unauthorized wallet transfers amongst Banana Gun users, the developers deactivated the bot front-end and initiated a security review.

WHAT'S NEXT FOR CHAIN ABSTRACTION

The conversation around chain abstraction focuses too much on a speculative future without addressing current user preferences, which gravitate strongly towards certain chains and apps.

PROJECTS TO RESEARCH THIS WEEKEND

This post highlights nine projects in various categories, including chains, gaming platforms, DeFi protocols, and memecoins.

FINTECH GIANT REVOLUT SAID TO BE PLANNING STABLECOIN

Revolut, a fintech giant known for its crypto-friendly services, is reportedly working on launching its own stablecoin, aiming to expand its cryptocurrency offerings with a compliance-focused approach. This move would position Revolut alongside other stablecoin issuers like PayPal, Ripple, and BitGo as the sector continues to grow.

SEC CHARGES DEFI PLATFORM RARI CAPITAL AND ITS FOUNDERS WITH MISLEADING INVESTORS AND ACTING AS UNREGISTERED BROKERS

The SEC has charged Rari Capital, a DeFi platform, and its founders with misleading investors and engaging in unregistered broker activity, alleging that the platform falsely promoted features of its crypto investment products and conducted unregistered securities offerings. Rari Capital and its successors settled the charges, agreeing to penalties and legal restrictions without admitting or denying the allegations.

AI-POWERED PREDICTION MARKET ORACLES

Market maker and trading firm Wintermute has created a betting market focusing solely on the US election. It uses Chaos Labs' Edge Proof Oracles, which use LLMs to ensure data integrity, authenticity, and unbiased determination. Current prediction markets have issues with human-driven systems in ambiguous situations, like the 2024 Venezuela Election, where both sides claimed victory with data to support it.

P2P PIPES

Pipe Network, built by Permissionless Labs, aims to be the first permissionless content delivery network (CDN) built on Solana. The decentralized CDN (dCDN) concept promises lower latency, increased redundancy, and reduced costs by leveraging underutilized upload bandwidth. Pipe aims to build the world's fastest and largest CDN, with 3ms + speed of light response times. Its first public demo will be released next week at Solana's Breakpoint conference.

A CONTRARIAN BET ON ETHEREUM

Ethereum is currently facing challenges like regulatory uncertainty, competition from Solana, and declining revenues due to Layer 2 growth. However, despite these issues, Ethereum remains dominant in key sectors like DeFi, stablecoins, and corporate adoption, making it a contrarian bet with potential upside.

BRIDGING BITCOIN

Bitcoin's development has moved through significant technological and cultural evolutions, increasing its scalability and functionality through upgrades like SegWit and Taproot, which have facilitated innovations such as inscriptions and tokens. It now has the ability to support complex transactions and create tokens and other programmable financial instruments directly on its blockchain.

IS DATA AVAILABILITY A COMMODITY? DO DA LAYERS HAVE NETWORK EFFECTS?

This post presents numerous arguments about data availability. One view is that it is a commodity with no network effects since rollups don't benefit from other rollups sharing the same DA layer. Others argue that data availability sampling and plans for interoperability within DA layers like Avail, plus sequencing support, create strong network effects. The author argues that neither is true, as security trade-offs distinguish between providers, but a DA layer has little network effects and can be overburdened if there's a global throughput limit.

COINBASE'S BASE LAYER 2 SHATTERS TRANSACTION RECORDS WITH OVER 4.5 MILLION IN A SINGLE DAY

Base successfully handled over 4.5 million transactions this past Saturday. The L2 has been dominating over the past several months. Its popularity can be attributed to Coinbase's reputation and exchange integration, its focus on being consumer-ready, and the plethora of apps on the protocol.

TMR.NEWS: THE FIRST NATURAL LANGUAGE PREDICTION MARKET

This new prediction market from Smallbrain Games allows users to bet on the title of tomorrow's New York Time's headline and be rewarded based on semantic similarity to the actual title as judged by AI.

TETHER RESERVES EQUAL ~$118B

Tether's Q2 2024 audit shows it has ~$118B in reserves, $5.3B over its liabilities, ranking it as the 18th largest holder of U.S.

SKY LAUNCHES ON ETHEREUM

USDS and SKY are now active on Ethereum, with DeFi capabilities through the decentralized Sky Protocol.

ETHENA'S WEBSITE HACKED

Pocket Universe has detected a frontend hack on Etha Lab's official website that requests phishing transactions to steal tokens.

CRYPTO PROJECT WORLD LIBERTY FINANCIAL, PROMOTED BY TRUMP FAMILY, CONFIRMS PLAN FOR TOKEN

In an X Spaces audio stream, the team behind the Trump Family's new crypto project confirmed plans to launch a governance token called WLFI, available only to accredited investors under an SEC Regulation D exemption. The token, which is non-transferable and offers no economic rights, will focus on governance participation amid ongoing regulatory uncertainty in the U.S. In the stream, Donald Trump called crypto “one of those things we have to do, whether we like it or not.”

JAMIE DIMON SAYS JPMORGAN CHASE IS 'PROBABLY ONE OF THE BIGGER USERS OF BLOCKCHAIN'

Jamie Dimon, CEO of JPMorgan Chase, reiterated his skepticism of cryptocurrencies but highlighted that JPMorgan is a major user of blockchain technology, calling it an efficient way to share data. Despite dismissing crypto as "worthless," Dimon emphasized that the bank's Onyx blockchain network has processed over $700 billion in transactions since 2020.

INTRODUCING BOUNDLESS: THE VERIFIABLE COMPUTE LAYER

Boundless allows for ZK verification of off-chain programs on any blockchain. Applications previously limited by the computational cost of blockchain execution can now be built and cryptographically verified onchain, including verifiable AI interactions, centralized identity services, and super-fast DEXs. Developers can build with familiar languages like Rust while Boundless handles the complex cryptography and cross-chain composability.

FERMAH: THE UNIVERSAL PROOF GENERATION LAYER

Fermah is a marketplace for ZK proof generation consisting of GPU suppliers capable of generating proofs for any ZK program or circuit. By aggregating the proof generation marketplace, Fermah hopes to lower costs and create more efficient markets. Ultimately, its goal is to make zero-knowledge proofs the default layer for all computation.

STABLECOIN MARKETMAP 2024

This map highlights the various companies building across the expansive stablecoin industry. Categories include exchanges like MoonPay and MoneyGram, payment cards from Gnosis and Naka, and remittance platforms like Bitso and DolarApp.