Coinbase Wallet will now offer USDC Rewards, allowing users to earn 4.7% APY by holding USDC onchain, with funds remaining liquid and accessible anytime. This feature, available globally and rolling out to U.S. users, also enables instant, fee-free USDC payments on Base, improving accessibility and rewards for stablecoin users.
2024.11.21·links.tldrnewsletter.com·3 min read·TLDR Crypto MicroStrategy has announced the pricing of its $2.6 billion offering of 0% convertible senior notes due 2029. It plans to use the proceeds to acquire more Bitcoin and for general corporate purposes. The notes, convertible into cash or class A shares, are priced at a 55% premium over MicroStrategy's recent stock price. They are targeted at institutional buyers in a private offering.
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2024.11.21·links.tldrnewsletter.com·Sponsor·TLDR Crypto This deep dive into the memecoin market examines its evolution from viral jokes to a financial protest by Millennials and Gen Z against traditional wealth-building systems. Exploring trends, trader perspectives, and platforms like Solana, it reveals how memecoins' fair launches and community-driven success signal a seismic shift in how on-chain capital flows and why the next generation of tools must balance simplicity with power.
Manifold Finance, a crypto project once brimming with promise, has now been reduced to memes and missed deadlines. Its founder Sam Bacha is dodging accountability for the $126 million collapse as investors watch their funds vanish. The saga is a cautionary tale of unfulfilled roadmaps, crumbling trust, and community frustration in DeFi.
Solana Memecoin trading thrives due to an early network effect initiated by key influencers like Ansem, who onboarded a target user base that snowballed through social connections. This highlights how historical path dependence and social dynamics, rather than pure technological factors, have driven Solana's dominance over Ethereum L2s in meme coin activities.
Cantor Fitzgerald CEO Howard Lutnick will be President-elect Trump's commerce secretary.
The first day of Bitcoin ETF options trading saw impressive activity, with $1.68 billion in notional volume traded and heavy call option dominance indicating strong bullish sentiment.
MicroStrategy Chairman and Bitcoin proponent Michael Saylor will give a three-minute presentation to the board of Microsoft on why buying Bitcoin would benefit the company.
A recent U.S. federal court ruling suggests that DAOs like Lido DAO could be treated as general partnerships under California law, potentially exposing participants to shared liability for DAO actions.
Coinbase CEO Brian Armstrong is set to meet with Donald Trump to discuss personnel appointments as the president-elect forms his administration. Armstrong will be advocating for pro-crypto policies following regulatory clashes with the SEC.
MiCA compliance is set to drive a wave of consolidation in Europe's crypto industry. Firms that meet its rigorous standards will gain a strategic edge through M&A and market leadership. As regulatory scrutiny increases, MiCA-compliant companies will attract partners and investors, while non-compliant firms risk devaluation and exclusion. This will reshape the competitive landscape and set new benchmarks for trust and sustainable growth.
2024.11.20·links.tldrnewsletter.com·3 min read·TLDR Crypto RISC Zero, a zkVM company, has announced Kailua, an approach to rollups that gives 1-hour finality while not having the high cost of constant ZK proving. Its key innovation is only proving during disputes and relying on the optimistic fault proof architecture in most situations. RISC Zero claims that it is millions of dollars cheaper than OP Succinct, a competing offering.
Pendle V3, now known as Boros, is a platform for margin trading yields and off-chain rates with an initial focus on crypto funding rates that drive $150-200B in daily perp trading volume. The platform will operate alongside Pendle V2. An airdrop for individual vePENDLE holders is scheduled for the end of the year.
Devcon was dominated by Crypto x AI. Participants suggested that Web3 AI should focus on crypto-native use cases rather than competing directly with Web2 AI. The conference highlighted the emergence of “Web4” and AGI-driven applications and identified key challenges in agent-to-agent communication and infra needs for complex DeFi use cases. Projects including Almanak, Virtuals, and Ora are addressing these problems through DeFi strategy automation, agent communication protocols, and verifiable AI frameworks.
Zerebro marked a significant moment in onchain AI agents, reaching a $100M market cap within two weeks by implementing features like Retrieval Augmented Generation (RAG) for memory and real-time search capabilities. It has a multi-platform presence across X, Warpcast, Telegram, and Instagram, with platform-specific content adoption. Zerebro is developing cross-chain IP through autonomous token launches and NFT collections on Polygon and Solana. Drawing parallels to BAYC's evolution from CryptoPunks, Zerebro is establishing a new playbook for AI agent communities.
The co-founders of Lido are developing “Y,” a blockchain-based digital identity platform that will compete with Sam Altman's World Network by using social and blockchain activity for authentication instead of controversial biometric scans. Y hopes to address privacy and fraud concerns, positioning itself as a more secure and decentralized alternative while leveraging its creators' influence in the crypto space to challenge World's established user base and connections to OpenAI.
Virtuals Protocol has launched Virtuals Fun, a new Initial Agent Offering platform that addresses previous limitations in AI agent tokenization. Within three weeks, it launched 1,000 agents and had $250M in trading volume. Virtuals Fun leverages Base's infrastructure and the G.A.M.E framework to enable agents capable of sophisticated tasks beyond text generation. Examples of its agents include AIXBT for crypto market intelligence, MISATO for generative art, and LUNA for entertainment.
Coinbase will delist wBTC on December 19 amid growing influence from Justin Sun over the protocol following BitGo's strategic partnership with the TRON ecosystem, which raised industry concerns about decentralization and governance. Coinbase's own wrapped bitcoin token, cbBTC, has grown to a market cap of ~$1.5B.
2024.11.20·links.tldrnewsletter.com·2 min read·TLDR Crypto Solana's staking APY (7-day moving average) has reached an all-time high driven by a combination of issuance, fees, and MEV rewards, signaling increased profitability for stakers.
Former Coinbase Custody CEO Ryan Bozarth's new platform, Dakota, offers crypto-native banking solutions by converting client funds into stablecoins backed by U.S. Treasuries and providing fee-free transfers via ACH, Fedwire, SWIFT, and SEPA.
2024.11.20·links.tldrnewsletter.com·2 min read·TLDR Crypto Senator Cynthia Lummis has proposed converting a portion of the U.S. Treasury's 8K+ tons of gold reserves into Bitcoin to establish a strategic BTC reserve.
President-elect Donald Trump has nominated Cantor Fitzgerald CEO Howard Lutnick as Commerce Secretary, tasking him with leading the administration's tariff and trade agenda.
The Options Clearing Corporation (OCC) announced it is preparing to clear options on spot Bitcoin ETFs, with the Nasdaq signaling readiness to list options as soon as today. This development follows the SEC's approval of Bitcoin ETFs and reflects growing demand for options trading. Retail traders are expected to speculate and institutions are expected to use options for hedging.
2024.11.19·links.tldrnewsletter.com·2 min read·TLDR Crypto A group of U.S. lawmakers have urged the Treasury to investigate crypto mixers like Tornado Cash because of national security risks. They have requested an update on enforcement actions and potential secondary sanctions by December 2, following Tornado Cash's designation as a sanctioned entity in 2022.
2024.11.19·links.tldrnewsletter.com·2 min read·TLDR Crypto Eternal AI has introduced a framework for AI-powered Ethereum smart contracts that replaces traditional rule-based programming with dynamic LLM-driven decision-making through an AI Kernel architecture. The system operates across four layers (User, Kernel, Model, and Hardware spaces) using a novel Proof-of-Compute consensus mechanism. Eternal allows for autonomous agents, intelligent wallets, and AI-powered oracles. Developers can now integrate open-source AI models like Llama and FLUX directly into smart contracts for adaptive learning and real-time decision-making capabilities for apps.
Pump.Science has launched as Solana's first DeSci platform. Backed by the Solana Foundation, it introduces a gamified approach to longevity research through tokenized compounds like Urolithin A and Rifampicin. The platform features a market cap-based progression system for testing compounds across different organisms, from worms ($69k+) to human trials ($10m+), with live-streamed experiments providing real-time data. Future developments include enhanced testing capabilities, research funds, AI agent integration, and a product marketplace.
EthGlobal's Bangkok hackathon had 713 projects competing for over $750,000 in prizes, with judges including Ethereum co-founder Vitalik Buterin and other industry leaders. The winning projects reflected key trends in the crypto space, focusing on gaming, DAO tools, AI agents, and infrastructure solutions. Highlights include the game launchpad Metaloot; Industry.ai, which visualizes AI agents completing tasks in a video game environment; and ETHPark-QR, which settles Thai parking tickets in crypto.
2024.11.19·links.tldrnewsletter.com·2 min read·TLDR Crypto Devcon discussions revealed growing concerns about memecoin distractions affecting founders. Traditional VC-backed tokens continue to underperform despite the market's strength. Notable shifts in the token market landscape include founders focusing more on network effects, institutional appeal, and long-term community building. Devcon week demonstrated strong ecosystem health with a record 2,700 developers at the ETHGlobal Bangkok hackathon and a notably measured atmosphere despite market highs.
A proposal for Lido DAO suggests adapting to the evolving Ethereum staking ecosystem by expanding stETH into a diverse product line, creating a validator marketplace with differentiated rewards, and strengthening LDO's role in governance to align incentives with the protocol's long-term mission. The platform currently faces challenges like saturation in the liquid staking category and centralization risks from institutional inflows. Lido aims to position itself as the leading decentralized staking provider by catering to diverse user needs while maintaining its core values of security, decentralization, and alignment with Ethereum's principles.
This cycle's memecoins have put pressure on overvalued “serious coins,” as they discourage exchanges from listing overvalued tokens on exchanges and push founders to focus on building real products, ultimately steering the crypto industry toward a healthier trajectory.
This year mykcryptodev's Super Bowl boxes game will be hosted on Base, built with OnchainKit and Chainlink, and feature new capabilities like the ability to purchase boxes using any ERC-20 token.
Institutional investors are buying more of the BTC ETFs, with BlackRock's iShares Bitcoin Trust (IBIT) leading the market with $42B in AUM and ~700 institutional holders.
2024.11.19·links.tldrnewsletter.com·3 min read·TLDR Crypto Attention is arguably the most valuable asset in crypto.
Wintermute's proposal to allocate a portion of Ethena protocol revenue to staked ENA (sENA) and related programs was approved by Ethena's risk committee. Wintermute hopes to better align sENA holders with the Ethena protocol's growth and revenue generation. The Ethena Foundation is committed to ensuring all future revenue benefits the protocol exclusively and will be governed transparently via ENA and sENA stakeholders.
2024.11.18·links.tldrnewsletter.com·2 min read·TLDR Crypto Last week, NFT volume reached $181 million, a 94% increase on the previous week, largely driven by increased speculation and price action in the crypto market. Ethereum led trading with $67 million in NFT sales, while Bitcoin followed with $60 million. NFT volume reached an all-time low of $300 million in September and broke a seven-month downturn.
Zerebro is a recently released AI personality that has taken Crypto Twitter by storm. It is designed to create content autonomously across several verticals. It can also search the web via Perplexity and interact with DeFi protocols. The $ZEREBRO token was independently created. An ecosystem is now developing around it that includes a Solana LST that buys and burns the token.
OP_VAULT, introduced in BIP 345, introduces security features to Bitcoin that enable users to create vaults with built-in clawback mechanisms and monitoring capabilities. It implements three key components - a recovery path, an unvault key, and an unvault target - allowing for enhanced security without complex key management requirements while offering benefits like batched recovery management and protection against social engineering attacks. OP_VAULT remains in the proposal stage with some limitations, including fixed destinations and no batched unvaulting.
The post-US election landscape marks a pivotal moment for crypto, with regulatory clarity and bipartisan support potentially enabling U.S. crypto builders to focus on innovation rather than survival. Key areas of development include stablecoins revolutionizing global payments, Ethereum's future advancements like the proposed “beam” chain for improved scalability and security, and broader adoption of blockchain technology by governments and institutions.
2024.11.18·a16zcrypto.substack.com·5 min read·TLDR Crypto Stablecoins have rapidly evolved into a $160B global market with two primary categories: fiat-backed stablecoins and asset-backed stablecoins. Drawing parallels to banking history, fiat-backed stablecoins dominate because of their simplicity and perceived safety, while asset-backed stablecoins, issued through decentralized lending protocols, are expected to grow as onchain lending matures as they offer transformative potential for payments and financial ecosystems.
Warpcast, as the largest app on the Farcaster protocol, has to consistently confront the challenge of driving user growth while balancing feature integration and competition with ecosystem partners. The protocol's survival depends on achieving significant user adoption.
Proposals for a Bitcoin strategic reserve could backfire by signaling doubt in the USD's stability, potentially undermining its status as the global reserve currency. While the best-case scenario positions the U.S. as a crypto leader, pairing such a reserve with actions that erode trust in the Federal Reserve, like prematurely replacing Federal Reserve Board Chair Jerome Powell, could damage institutional credibility and U.S. economic leadership.
A Polymarket whale, who previously earned $11M betting on Trump's presidential win, lost $3.6M betting on Mike Tyson to defeat Jake Paul.
2024.11.18·links.tldrnewsletter.com·1 min read·TLDR Crypto Macroeconomist Lyn Alden expressed surprise at Ethereum has experienced a post-election decline against Bitcoin, with the ETH/BTC ratio hitting its lowest level since March 2021, despite expectations of favorable crypto policies under a Trump administration.
This chart shares the 15 most decentralized memecoins, as determined by the percentage owned by the top 100 holders.
In Process is a new app that allows creators to build in public.
Pennsylvania State Representative Mike Cabell has proposed a bill allowing the state treasury to invest up to 10% of its funds in Bitcoin as a hedge against economic volatility. This could amount to a multibillion-dollar investment.