🚀 Coinbase’s cbBTC Launches! 💥
In today’s edition: 💹 🤔 Potential crypto surge alongside falling interest rates? And more!
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ETH Is Down Bad, While Layer 2s Are Ripping. Are L2s Parasitic to Ethereum?
Ethereum scaled its layer 2s, but now they are raking in the fees while paying little to the base chain. Are layer 2s parasitic to Ethereum, or will things turn around? Justin Bons and Ryan Berckmans debate.
Ethereum’s layer 2 solutions are booming, but are they inadvertently holding back the value of ETH itself?
In this episode, Justin Bons and Ryan Berckmans engage in a heated debate over whether layer 2s are enhancing Ethereum’s ecosystem or siphoning off its potential. They discuss the impact of layer 2s on decentralization, network effects, and whether Ethereum, as a layer 1, can scale on its own or if the base layer and the rollups now have different incentives. Has Ethereum scaled appropriately for future usage, or was scaling via layer 2s the wrong roadmap for Ethereum?
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.
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What’s Poppin’?
by Juan Aranovich and Sage Young
Coinbase’s Wrapped Bitcoin Product cbBTC Launches on Base and Ethereum
The debut of Coinbase’s cbBTC comes roughly a month after BitGo announced controversial custodial changes to wBTC.
What Do Cooling Inflation and Rate Cuts Mean for Crypto and Bitcoin Prices?
With interest rates set to fall, could bitcoin and other cryptos see a surge in price?
Daily Bits… ✍️✍️✍
📈 Bitcoin's mining difficulty reached a new all-time high of 92.7 trillion after the network's hashrate hit a record level over the weekend.
⚖️ Uniswap's dominance in the decentralized exchange (DEX) market has slipped to 36%, as new competitors such as Aerodrome and Orca gain traction.
🚨 The CFTC is partnering with various organizations to combat "pig butchering" crypto scams, which have become more prevalent than traditional Ponzi schemes.
🔒 Binance.US partnered with Fireblocks to enhance its crypto custody and staking services, aiming to reassure users and regulators about the security of customer assets.
🖼️ A rare CryptoPunk NFT worth millions was acquired for just 10 ETH ($23,445) after the buyer exploited a loophole in the fractionalized NFT market, leaving previous shareholders at a significant loss.
🇺🇸 Kamala Harris has overtaken Donald Trump in the latest Polymarket odds for the US presidential election, with her chances rising to 50% following the debate, while Trump's odds dipped slightly to 49%.
Today in Crypto Adoption...
📜 The UK government introduced a bill to clarify the legal status of digital assets such as cryptocurrencies and NFTs, providing greater legal protection and clear guidelines for ownership disputes.
🔗 Swift is set to test new solutions that interlink fiat currencies with tokenized assets, aiming to enable real-time transactions for securities and payments across its global network.
The $$$ Corner…
🛠️ CleanSpark acquired seven bitcoin mining facilities in Tennessee for $30 million, which is expected to boost its total hashrate by over 22% once fully operational.
What Do You Meme?
📈 Your Market Update 📉
BTC is up 2.6%, trading at $58,042
ETH is up 1.4%, trading at $2,351
BTC dominance: 53.91%
Crypto market cap: $2.13T
*All data as of today, 06:35 am ET. Source: CoinGecko
Recommended Reads
CoinDesk: The Harris-Trump Debate Showed How Little Crypto Matters to Voters and Politicians
DL News: Robinhood’s crypto push is paying off as American millennials get richer
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