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FIDELITY HELD MEETING WITH SEC ABOUT SPOT BITCOIN FUND, SUBMITTED PRESENTATION ABOUT ETF WORKFLOWS

Fidelity reportedly met with the SEC again to discuss its proposed spot Bitcoin ETF. In this meeting, Fidelity provided a detailed explanation of the "In-Kind" creations and redemptions model. The company argued that physical creations and redemptions are crucial for trading efficiency and market pricing. The amended S-1s by the companies vying for these spot Bitcoin ETFs are stacking up, and analysts are suggesting that this means progress is being made toward the approval of these ETFs.

CRYPTO MEDIA SITE DECRYPT MERGES WITH DECENTRALIZED MEDIA FIRM RUG RADIO

Crypto-focused news company Decrypt announced its plans to merge with decentralized media firm Rug Radio. This marks the third significant crypto media consolidation within a month, following the majority stake sales of The Block and CoinDesk. This merger would bring Decrypt deeper into the web3 ecosystem and provide Rug Radio with improved access to the journalistic brand. Both will maintain their brand and independence under a yet-to-be-named holding company and they plan to collaborate on advertising deals.

PUDGY PENGUINS TO LAUNCH WEBKINZ-LIKE VIRTUAL WORLD IN 2024

Pudgy Penguins announced it will soon enter the online gaming industry with "Pudgy World," an interactive digital playground expected to launch in early 2024. The platform will offer varied gameplay options, and it aims to provide more opportunities for Pudgy Penguin fans to interact with the brand. The NFT project has been a standout in 2023, becoming one of the most sought-after PFP projects in the space, and its toy line that debuted on Amazon and in Walmart stores this year is on track to do more than $10 million in sales in the second half of the year.

XION: THE GENERALIZED ABSTRACTION LAYER

This whitepaper details a new protocol called XION, a Generalized Abstraction layer that integrates user experience into a blockchain at the protocol level. XION simplifies the blockchain experience by integrating complex functionalities at the protocol level to enhance security, interoperability, and user experience. It also incorporates a modular design of meta accounts, parameterized fee layer, and signature agnostic implementation for a user-centric platform. XION’s architecture looks to bridge the gap between technical complexities and mainstream appeal.

SOLANA - YOUR ALL-IN-ONE GUIDE TO THE MOST USER-FRIENDLY CHAIN

This robust guide for beginners provides a thorough introduction to the Solana blockchain, from joining a DAO to increase knowledge and develop skills to leveraging various strategies to make a profit, either with or without starting capital. The writer emphasizes the importance of getting connected to others in the Solana ecosystem, highlights notable airdrop opportunities, and suggests key figures to follow on X.

CRYPTO TAX OPTIMIZATIONS

This post outlines some potentially helpful tax strategies to optimize crypto gains. It suggests using loans to avoid needing to sell for fiat and in cases where you expect prices to draw down. Incorporating as a business can result in tax benefits and rights to write-offs. It is important to speak with a tax lawyer to plan for these types of events and understand how they are treated in your jurisdiction.

L1S VS. L2S, ROLLUPS VS. INTEGRATED, GENERAL-PURPOSE VS. APP-SPECIFIC

This blog post explores the differences between L1s and L2s, rollups vs. integrated systems, and app-specific vs. general-purpose architectures. There is a need for an increased understanding of what and when to build, to avoid unnecessary complexity and poor user experiences. Rollups/L2s are not inherently bad for user experience, but fragmented ones are. You need to carefully consider the target market and the architecture's functionality before deciding which one fits your use case.

ETHEREUM LAYER-2 STARKNET REVEALS STRK TOKEN AIRDROP

Starknet, an Ethereum scaling network, announced that it will distribute over 1.8 billion STRK tokens to its community members and stakeholders. Allocation criteria are yet to be disclosed. In addition to these tokens, the foundation will deliver 50 million tokens to encourage DeFi activity on the network.

TIPS FOR NEWER CRYPTO ECOSYSTEM PARTICIPANTS

This post provides some helpful tips for newer entrants into the space.

BINANCE FOUNDER CHANGPENG 'CZ' ZHAO STUCK IN U.S. UNTIL SENTENCING

Former Binance CEO Changpeng Zhao, who is facing sentencing for a Bank Secrecy Act violation, is not going to be allowed to return to the UAE in accordance with a federal judge’s ruling late last week.

LEDGER LIVE USER TRACKERS

This post outlines how Ledger Live extensively tracks user activity with analytics embedded in critical functions and raises concerns about its intensive data collection practices in the crypto community.

BIPARTISAN ANTI-CRYPTO TERROR FINANCING BILL HEADS TO U.S. SENATE

New US legislation is aiming to expand sanctions against foreign entities aiding terrorist groups through cryptocurrency transactions.

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EVEN SMALL-TIME JITO AIRDROPPERS ARE GETTING THOUSANDS OF DOLLARS IN JTO TOKENS

Jito, described by some as Flashbots + Lido on Solana, conducted an airdrop yesterday that took all of Crypto Twitter by storm. Close to 10,000 Solana addresses were airdropped a minimum of 4,941 JTO tokens, which ended up being worth nearly $15,000 by the end of the day yesterday. This airdrop was reminiscent of the Uniswap airdrop that kickstarted the Ethereum ecosystem last cycle.

FOLLOWING UK EXPANSION, ROBINHOOD BRINGS CRYPTO TRADING TO EU

Robinhood is launching its crypto trading app to all eligible users across the EU, marking a significant step in its international expansion. This move took place a week after the firm’s debut in the UK. Robinhood Crypto will be in compliance with the EU's comprehensive crypto regulation framework. This expansion marks a change in tone after Robinhood delisted tokens like Cardano, Polygon, and Solana earlier in the year.

MAKING DEFI FRONTENDS GREAT AGAIN THROUGH LAPPS

This thread highlights the idea of lApps or local apps. lApps are frontends meant to be run privately on individual users’ local machines, offering stronger security, quick loading, no forced updates, and no frontend fees. lApps operate through third-party software, like browser extensions or desktop applications. The idea is for users to access DeFi projects on their own devices independent of external web servers through a simple click on a link. While the exact implementation is still to be determined, this is an innovative approach to web3 frontends.

WORMHOLE QUERIES LAUNCHES, BRINGING ON-DEMAND ACCESS TO ON-CHAIN DATA TO APPS ON ANY CHAIN

Wormhole has launched Wormhole Queries, a service aimed at simplifying app development through a decentralized system for instant cross-chain data retrieval. This latest innovation improves upon Wormhole's traditional "push" attestation model by reducing latency and data access costs significantly. Its flexible method promises simplified cross-chain development, rapid requests, cheaper gas fees, and flexible data retrieval. Expected use cases include DeFi platforms, gaming, and cross-chain digital identity.

HOW TO FARM MARGINFI AIRDROP IN 10MIN

This thread runs through a step-by-step guide on how to farm MarginFi’s upcoming airdrop within 10 minutes. The steps include logging into MarginFi, lending to the SOL module, borrowing USDC, converting that into SOL, and re-lending the SOL. The procedure can be repeated to increase the user's liquidation price, but the thread advises maintaining a health level of 20-30% and waiting for the airdrop.

THE 2023 SEQUENCING MAP

This thread explores the concept of sequencing in crypto, specifically its role in L2 scaling and MEV. It elaborates on how sequencing research is progressing, its crucial components, and the companies driving the change. It further discusses concepts like censorship resistance, centralized sequencing, consensus, data availability, and fair ordering.

THE STATE OF L2S: THEORY AND REALITY

L2s are one of the focal points of the space right now as the Ethereum network continues to grow and is attempting to address scaling issues. With this narrative heating up and L2s competing with one another, the space is getting to see how reality compares with the theory of L2s. This post highlights some of those differences.

FUTURE OF SOLANA'S HYPED SAGA PHONE IS 'UNDER INTERNAL DISCUSSION' AS SALES FIGURES FAIL TO WOW

The future of Solana's Saga Phone remains uncertain due to underwhelming sales, according to the company's founder Anatoly Yakovenko. The smartphone, which targets the blockchain industry, apparently requires a 25-50K user base to incentivize app developers. Yakovenko mentioned the growth of Progressive Web Apps and pass keys as significant factors narrowing the distinction between regular and specialized smartphones, potentially impacting Saga Phone's demand.

CRYPTO GAMING PLATFORM PORTAL ADDS ROCKSTAR CO-FOUNDER AMID AIRDROP FRENZY

Jamie King, co-founder of Rockstar Games, joined the Portal Foundation as an advisor to the crypto gaming project.

BITCOIN RALLY: IS EL SALVADOR'S BITCOIN BET PAYING OFF?

El Salvador's President Nayib Bukele's Bitcoin reserve is finally in the green again, despite facing a couple of years of criticism and concerns about the high-risk investment and its impact on the country's economy.

LAYERZERO TO LAUNCH TOKEN IN 2024

On the backs of successful recent airdrops like PYTH and JTO, LayerZero officially confirmed it will launch its much-anticipated token in the first half of 2024.

FIDELITY SPOT BITCOIN ETF LISTS ON DTCC WEBSITE EVEN AS KEY TRADFI MEMBERS ATTACK CRYPTO

While awaiting approval alongside several other spot bitcoin ETF applications, Fidelity's Bitcoin ETF was listed on the DTCC.

PRO-BLOCKCHAIN BILL CLEARS HURDLE IN U.S. HOUSE

A US House of Representatives committee has unanimously approved a bill directing the Department of Commerce to support blockchain tech. Despite the bill passing through committee, approval by the House remains uncertain. Its best chance may be integration with other larger, must-pass legislation.

GRAYSCALE CEO SAYS HE'S FEELING OPTIMISTIC FOLLOWING CONVERSATIONS WITH THE SEC ABOUT A SPOT BITCOIN ETF

Grayscale CEO Michael Sonnenshein stated that he remains optimistic about a potential bitcoin ETF approval following discussions with the SEC. Although the timeline has not been set, the firm believes that the SEC's questions suggest progress on their end. Along with apparent progress on BlackRock’s ETF application, many experts are expecting approvals to come within the next month.

MERIT CIRCLE BRINGS IMMUTABLE ZKEVM INTO BEAM CRYPTO GAMING ECOSYSTEM

Merit Circle DAO's tech stack and Sphere NFT marketplace, initially launched on Avalanche, will now also be available on Immutable's upcoming zkEVM network powered by Polygon. This expansion adheres to Merit Circle's chain-agnostic approach. The gaming-focused group is also contemplating investments in games and studios using Immutable.

AEVO SAVINGS COLLATERAL

Cryptocurrency derivatives exchange Aevo has introduced aeUSD, the first yield-generating, stables-denominated collateral asset. aeUSD allows users to generate 4.75% APY on their exchange margin while trading with 20x leverage. aeUSD, using an ERC-4626 asset model based on Aevo, provides yield by depositing into Maker DAO's Dai Savings Rate module, providing an innovative solution for enhanced capital efficiency.

A FEW OF THE THINGS A16Z IS EXCITED ABOUT IN CRYPTO (2024)

This piece from a16z provides an outline of what to look forward to in 2024, including transformations in the crypto user experience, the rise of modular tech stacks, the integration of AI with blockchain, the implications of AI developments in gaming, and formal verification for software development. It also touches on the changing financial dynamics in gaming, the evolution of NFTs in branding, and the increasing use of SNARKs in verifying computational workloads.

SOLANA THESIS – THE FASTEST HORSE RISES FROM THE ASHES

This post from a firm that took a large position in Solana earlier this year lays out an in-depth thesis on Solana. The blockchain platform’s potential to scale and become a dominant player in the L1 race, despite major setbacks such as the collapse of FTX, is, according to this author, still undervalued.

WHY MONETIZE PROTOCOLS?

This post makes an argument for monetizing protocols and why builders should consider this versus free-to-use protocols. The benefits of monetization include improved governance, as it allows a broader community to influence the protocol's future, while also preventing any one party from seizing control. Monetization can also help manage harmful players or applications by incentivizing compliance and deterring non-adherence.

REVISITING BORDERLESS PAYMENTS

This article takes a look at how blockchains are revolutionizing cross-border payments. Despite challenges in creating scalable consumer platforms, the demand for cross-border payments reached $190 trillion in 2023. While smaller, geo-specific solutions exist, regulatory confines limit their reach. With grassroots adoption in lower middle income countries, crypto is showing real promise as a killer use case to break through these borders.

DOGECOIN FUNDED SPACEX ‘DOGE-1’ MOON MISSION GETS A STEP CLOSER TO LAUNCH

The DOGE-1 moon mission, funded by Dogecoin and developed by Geometric Energy Corporation, received key NTIA approval, moving closer to a SpaceX Falcon 9 launch.

WHY CRYPTO WILL UNLOCK A NEW WAVE OF BILLION-DOLLAR PHYSICAL INFRASTRUCTURE NETWORKS

DePINs, decentralized networks combining infrastructure with token incentives, address key centralized infrastructure issues, offering advantages in capital formation, immediate cash flows, and value-growing tokens.

JPMORGAN CEO JAMIE DIMON TELLS SEN. ELIZABETH WARREN THAT GOVERNMENT SHOULD SHUT DOWN CRYPTO

JPMorgan Chase CEO Jamie Dimon caused a stir yesterday as he claimed that if he were the government, he’d shut bitcoin and crypto down.

CZ'S GUILTY PLEA ACCEPTED BY JUDGE, HAS YET TO DECIDE IF BINANCE FOUNDER CAN GO HOME

Binance founder CZ pled guilty to violating the Bank Secrecy Act, with sentencing scheduled for February 2023. He's been released on bond until then.

CIRCLE AND NUBANK PARTNER TO INCREASE DIGITAL DOLLAR ACCESS IN BRAZIL

Circle, the largest regulated stablecoin issuer in the US, has partnered with the global digital financial institution Nubank to increase access to digital dollars in Brazil. The partnership aims to cater to the increasing demand for secure, regulated, and direct access to digital dollars through its offerings, which reach Nubank's 85 million Brazilian users.

BLACKROCK RECEIVED $100K SEED FUNDING FOR SPOT BITCOIN ETF

In its amended ETF application, BlackRock reported a $100,000 investment as seed capital for a proposed bitcoin ETF. As a reminder, unlike some of the bitcoin ETFs already on the market, this product will invest directly in spot bitcoin, not futures. The application is one of thirteen like this awaiting regulatory approval, with analysts predicting a likely green light in early public trading next year.

COINBASE ROLLS OUT CRYPTO TRANSFERS VIA LINKS SENT ON WHATSAPP, TELEGRAM

Coinbase has introduced a new wallet feature enabling crypto transfers via links shared on social media and messaging apps including iMessage, Telegram, WhatsApp, Facebook, Instagram, and TikTok. This is part of a move to enable more user-friendly crypto transactions and to continue bolstering this as an alternative to international wire transfers.

SHADOW: DROP IN INFRASTRUCTURE FOR CRYPTO BUILDERS

Cryptocurrency data infrastructure provider Shadow rolled out its first iteration of products and announced it had raised a $9 million seed round led by Paradigm. The company's first product allows users to extract unique on-chain data with minimal coding, cutting down on engineering time and costs. Shadow's platform also enables anyone to log any data on any smart contract, without the costs associated with gas fees. Overall, the company aims to make dealing with smart contract data much more efficient, both in terms of time and infrastructure cost, so teams can be more nimble and develop more quickly.

SOLANA FEES, PART 1

This article provides an introduction to Solana’s fee mechanism. Solana's transaction fees are split into a base fee and a priority fee, with half of each being kept by the network leader and the other half being burned. Solana also charges for new state creation. Issues with the current system include inefficiencies due to a lack of optimization incentives, the potential for collusion between transaction senders and leaders, and the absence of a localized fee market.

TOP 10 AIRDROPS ON SOLANA

This thread identifies the top 10 potential upcoming airdrops on Solana. The list includes Zeta Markets, a DeFi futures and options exchange; Drift Protocol, which brings cross-margined perpetual futures to Solana; and MarginFi, a lending foundation for DeFi 2.0. The thread also details tips on how to interact with each protocol to increase your chances of receiving an airdrop.

CRYPTO AI AGENTS: THE FIRST-CLASS CITIZENS OF ON-CHAIN ECONOMIES

This blog post details how different types of bots are proliferating in the crypto space. From profit-driven bots to consumer-driven ones, these bots are becoming the most prolific users on-chain. The blog walks through how bots could be integrated with AI agents and actually perform financial transactions on-chain.

HELIUM MOBILE SERVICE THAT LETS USERS EARN CRYPTO EXPANDS ACROSS US

Helium, a phone service powered by a decentralized network that utilizes crypto incentives, has launched nationwide after a trial in Miami. The service, which offers unlimited talk, text, and data, allows subscribers to earn crypto tokens for everyday usage. The service operates on the Helium network and T-Mobile’s 5G, with support for iOS 14 and Android 11 or above devices. While the price is set at $20 per month, certain users may earn MOBILE tokens to offset the costs.

COINBASE NFT AND OPENSEA RESPOND AFTER THIRDWEB VULNERABILITY DISCLOSURE

Thirdweb, a web3 developer platform, reported a significant security flaw in an open-source library impacting multiple NFT collections using its pre-built smart contracts.

GODS UNCHAINED LAUNCHES TO 200M AMAZON PRIME GAMING SUBSCRIBERS

Gods Unchained, a web3 trading card game, launched on Amazon Prime Gaming for 200M subscribers, offering exclusive content and integrating with AWS.

SEC DELAYS GRAYSCALE ETHEREUM ETF, CONFIRMS RECEIPT OF BLACKROCK ETH FUND

The SEC extended its deadline to January 2024 to decide on Grayscale's request to convert its Ethereum trust into an ETF, citing the need for more evaluation time.

WARBLER LABS DOGFOODING ITS GOLDFINCH PROTOCOL WITH HERON FINANCE

Heron Finance, an SEC-registered advisor built on top of Goldfinch, plans to launch a robo-advisor for private credit markets leveraging blockchain-based tech.