Crypto continues its sideways crab. Bitcoin is sitting pretty heavy on the $19k level. One way or another, we’re due a move soon. Meanwhile - SBF came out with his views on regulation to backlash, NFT marketplace BLUR upcoming airdrop and launch generated some interest and there’s a very interesting degen meta going on around shitcoins created based on Vitalik tweets. He’s been adding $ to certain words and the degens are eager to gamble.
⛓ Crypto News:
- Tether - SmartPay plans to launch USDT in over 24,000 ATMs across Brazil
- A group of nearly 4,400 investors have joined forces to find Terraform Labs founder Do Kwon. The so-called UST Restitution Group uses Discord to share clues
- Fidelity Digital Assets will start offering its institutional customers the ability to transact with ether on Oct. 28
- Fintech firm Plaid - most known for providing open banking APIs - has launched MetaMask, Coinbase, Ledger Wallet Onboard, its first web3 product
- Bitcoin mining remained unprofitable throughout Q3
- Ethereum alarm clock exploit leads to $260K in stolen gas fees so far
👨⚖️ Economic/Government/Regulatory:
- SBF‘s view on regulation: I fundamentally believe that blocklists are the correct approach to sanctions compliance on blockchain environments; BTC and ETH are not considered securities; many long-tail tokens acting as investment contracts are securities; tokenizing stocks could help simplify securities settlement
- Coinbase joins Grayscale in claiming that the SEC is failing to give spot market Bitcoin ETFs fair consideration
- Tesla Q3 earnings report - holding ~ $218M in crypto - did not sell or add in Q3
- A leaked copy of the still in-progress Digital Commodities Consumer Protection Act (DCCPA), outlines how the Commodities Futures Trading Commission would regulate the crypto industry
- VC firm Paradigm aids Ooki DAO in landmark CFTC lawsuit - They believe case could “seriously threaten the viability of DAOs”
💸 Exchange News:
- Customers of bankrupt crypto lender Voyager Digital Ltd. may recover about 72% of the value of their accounts under a tentative deal for the company to sell itself to FTX US
- Oanda is launching a crypto trading ecosystem for the U.S. market developed with the Paxos Trust Company
- Kraken is the latest crypto exchange to restrict accounts of Russian users on its platform in compliance with sanctions from the European Union
- Russian users are welcomed by crypto exchanges in Kazakhstan but they need to set up a local bank card for crypto-to-fiat transactions
- Berlin-headquartered online bank N26 will leverage Austrian crypto exchange Bitpanda’s trading and custody platform to give some of the bank’s customers access to up to 200 cryptocurrencies for trading
- Cyprus has become the fourth European country to approve registration for Binance
🏦 DeFi News:
- BNB chain PancakeSwap proposal for deployment to Aptos chain - recently expanded to the Ethereum blockchain
- Binance CEO clarified that the exchange did not intentionally delegate a large amount of UNI tokens to itself, claiming it was a quirk of the Uniswap system
- SushiSwap is discussing a new proposed update that aims to form a new DAO structure called Meiji - includes the use of non-transferable “shares” in Sushi governance voting
- Gearbox Protocol composable leveraged staking enabled by integration with Lido Finance
- A cross-chain bridge between BitBTC and Optimism has been able to avoid a potentially costly exploit thanks to the work of a Twitter user
- Snowflake launching direct staking onto Solana through a secure multisig
- Proposal Draft for Lido to buy CVX
🖼 NFT/Gaming/Metaverse News:
- NFT marketplace Blur is now live after four months of a private beta phase and is airdropping care packages with BLUR tokens to its users and those who list an NFT in the next 14 days
- Warner Bros. is releasing NFTs for its iconic 2001 film “Lord of the Rings: Fellowship of the Ring” - Web3 company Eluvio developed the NFTs and is hosting them, along with all the content data, via its Ethereum-compatible Content Fabric blockchain
- Ronaldinho tweeted his support for the World Cup Inu token
- Marvel, Funko debuted new web3 integrations at Comic Con NY 2022
- Indian cricket legend Sachin Tendulkar invests in NFT platform Rario - will exclusively offer Tendulkar's digital collectibles on its platform
💰 Fundraises:
- Stealthy crypto hedge fund Edge Capital raises $66.8M for DeFi
- Lava Labs, a London-based blockchain gaming startup, raises $10M with a $100M+ valuation
- OKX Blockdream Ventures launches $10M fund to support Aptos ecosystem
- Spindl raised $7M to build the tools Web 3 needs to bring a billion users onto the new Internet
- Collegiate sport fan experience platform Mercury has raised $7.5M in a seed round led by Multicoin Capital
- Auto-chess battler Project Eluune raised $5M in a seed funding round led by C² Ventures, with participation from Polygon
- The co-founder of Fab.com and Moxiehas raised $3M in a pre-seed round for his latest venture Airstack, a Polygon-backed web3 API platform
- Blocto’s First Aptos Ecosystem Fund - $3M Blocto Ecosystem Fund
- BetterData raised $770K to help create better synthetic data
👶 Early Stage Projects:
- Introducing Solana Core - the first buildspace program designed to turn anyone into a Solana legend
- Velodrome Sugar - new tool that we built to make it easier for devs to work with Velodrome
- Public beta launch of the MetaMask SDK: a set of simple, reliable, and secure tools that make it easier to connect your dapp to a wallet
- Introducing the CoinList Seed Fall 2022 Batch - early stage startups
- WEMIX3.0 is live - the genesis block of WEMIX3.0 Mainnet has been created
- Ladder's testnet is live - provides liquidity for NFT swaps
- Ava Labs has released Core web, a free, all-in-one command center giving users a more intuitive and comprehensive way to view and use Web3 across the Avalanche network
- The Milkomeda A1 rollup is now live on Algorand Mainnet
📊 Data:
TL;DR: Today’s smart money is light and mostly flowing into USDT, WETH, COMP. Outflow today is greater and continues flowing out of stables - USDC and BUSD. Weekly also continues showing a flow into stables USDC/USDT and some WETH with outflow from WBTC and DAI. NFT volume continues to be unimpressive. Dodoor and Nyolings have been able to see 100%-200% floor increase over the last 1-3 days. Vitalik Buterin is inspiring a mini memecoin season with several shitcoins over the last few days launched based off his tweets.
- Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to...
- Inflow (1D):
- Outflow (1D):
Weekly:
- Inflow (7D):
- Outflow (7D):
- Nansen NFT Hot Contracts:
🎓 Research/Reads:
- How our team makes millions in crypto risk-free - Exploiting crypto markets for fun and profit - source
- FTX - Possible Digital Asset Industry Standards - source
- a16z - Regulate Web3 Apps, Not Protocols - source
- Delphi - Dawn of a Modular Blockchain Era - source
- Variant Fund - When Tokens Shape Behavior - source
- The DeFi Appchain Design Space - source
- All about Liquidations — A Look at On-Chain Metrics - source
- What The Fork Is Going On? An examination of modern power structures in mature smart-contract L1s - source
- Element, a new NFT market invested by Sequoia, can it succeed? - source
- Things Hidden Since the Foundation of Blockspace - source
- Announcing the dǝath of liquidity mining - source
- 3Q22 VC Market Update - source
- Messari - State of Harmony Q3 2022 - source
- Messari - State of Friktion Q3 2022 - source
- Messari - State of Metaplex Q3 2022 - source
🌍 Crypto Twitterverse:
Did we miss anything or is there anything you want to discuss? We’d Love to hear your feedback and engage with the community! Feel free to leave a comment and let us know your thoughts on the Crypto market!
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