🤑 A Big Win... But Not for All 🐻
In today’s edition: 🗳️ Crypto’s election stakes beyond who is POTUS, 🚨🦚 Phantom wallet down during GRASS airdrop, 📜 DeFi Fund challenges SEC’s tactics, 🚀 Legion’s investor scoring, and more!
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What’s Poppin’?
by Juan Aranovich, Veronica Irwin, and Tikta
$240M Liquidated From Crypto Markets as Bitcoin Tops $71,000
It was a bad day for bears as bitcoin rallied to a seven-month high, triggering large-scale liquidations.
How Congressional Committee Leadership Could Shake Out for Crypto This Election
There’s a lot more than the presidency at stake this election when it comes to crypto. Here are the other key positions that could affect upcoming crypto legislation.
Solana Crypto Wallet Phantom Goes Dark as GRASS Launches Airdrop
A backend issue on Phantom resulted in almost three hours of downtime on Monday.
DeFi Education Fund Attacks SEC’s ‘Regulation by Enforcement’ in Beba Lawsuit
Three industry advocacy groups, as well as Coinbase and several crypto venture capital firms, also filed friend-of-the-court briefs, seizing the opportunity to address SEC overreach as a whole.
Legion Launches New Tool to Identify Best Contributors in Crypto Fundraises
Legion’s new investor scoring system aims to level the playing field, prioritizing real contributions over speculative capital.
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Daily Bits… ✍️✍️✍
🤖 Coinbase introduced a tool on its Base blockchain enabling users to create AI-driven onchain agents, with quick setup to perform autonomous transactions such as trades, swaps, and smart contract interactions.
🔒 Inco Network and Circle Research unveiled the Confidential ERC-20 Framework, enabling ERC-20 tokens to offer encrypted balances and private transfers on public blockchains while adhering to compliance requirements using Fully Homomorphic Encryption (FHE) within the Ethereum ecosystem.
📊 Crypto.com surpassed Coinbase as North America's leading crypto exchange, with spot trading volume rocketing to $134 billion in September, driven by crypto ETF growth and far outpacing Coinbase's $46 billion in spot trading volume.
🚨 The X account of Truth Terminal’s founder was hacked, promoting a scam token that skyrocketed to a $25 million market cap, netting the hacker $600,000, before selling off. The token’s community is now attempting to recover value through a "community takeover."
🌐 The Grass Network debuted its GRASS token, which facilitates AI bandwidth sharing on Solana, on multiple exchanges following an airdrop to engaged users. Over $500,000 in trading volume has taken place in the last 24 hours.
Today in Crypto Adoption...
🌬️ In Arctic Norway, Sazmining launched a hydropowered bitcoin mining site to heat a large building in a fishing village by replacing its oil boiler, with aims of showcasing the potential of bitcoin mining as a sustainable heat source in extreme climates.
The $$$ Corner…
🎨 Peter Thiel’s Founders Fund invested in Infinex's Patron NFT sale, a unique fundraising model that raised $67.7 million, with support from notable VCs and crypto pioneers; the Patron NFTs are now available on marketplaces such as OpenSea.
💰 Gelato raised $11 million in Series A+ funding led by Hack VC, expanding its rollup development platform to support new enterprise-grade blockchains such as Kraken's upcoming layer 2 network, Ink.
What Do You Meme?
📈 Your Market Update 📉
BTC is up 3.8%, trading at $71,120
ETH is up 4.1%, trading at $2,630
BTC dominance: 55.98%
Crypto market cap: $2.51T
*All data as of today, 07:00 am ET. Source: CoinGecko
Recommended Reads
Possible futures of the Ethereum protocol, part 6: The Splurge by Ethereum co-founder Vitalik Buterin
Let's Go Bitcoin by BitMex co-founder Arthur Hayes
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