📈🗝️ One Key Element Still Missing…
In today’s edition: 🚨 Tether denies DOJ probe rumors, 🔥 Lido votes on community staking shift, and more!
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What’s Poppin’?
by Juan Aranovich, Sage D. Young, and Tikta
What Needs to Happen for Altcoins to Finally Pump: Report
According to a new report from HashKey Capital, altcoins depend on several developments that just haven’t materialized yet.
Tether Dismisses Report of DOJ Probe as Treasury Said to Ponder Sanctioning It
Tether CEO Paolo Ardoino refutes allegations that the stablecoin issuer is under investigation amid suspicions of third-party sanctions busting and money laundering.
Lido Moves to Decentralize With Vote to Adopt New Community Staking Module
Less than 40 node operators currently stake the vast majority of ether on Lido. But that’s set to change with the new measure.
Earn bitcoin on Gemini here.
Daily Bits… ✍️✍️✍
📈 FTX reached a $228 million settlement with crypto exchange Bybit, dropping its lawsuit to reclaim funds and progressing toward distributing $12.6 billion in refunds to customers following its 2022 collapse.
⚖️ US prosecutors could propose a plea deal for Eric Council Jr, who was charged with hacking the SEC’s social media to post a false Bitcoin ETF approval, which created a surge in bitcoin’s price.
🇭🇰 Hong Kong's Treasury chief announced plans to expand tax breaks to crypto investments and approve more crypto trading platform licenses by the end of the year, while also introducing stablecoin regulations and over-the-counter trading guidelines.
🇯🇵 Japan's Metaplanet Inc. increased its bitcoin holdings to over 1,000 BTC, investing an additional $10.4 million and furthering its strategy to hold bitcoin as a treasury reserve asset, making it one of Asia's top corporate bitcoin holders.
🔑 A US government-linked wallet swiftly recovered $19.3 million out of $20 million in crypto lost in a suspected hack, retrieving 88% of the assets within 24 hours, per Arkham Intelligence.
📲 In a restructuring move Nova Labs, which is the company behind the Solana-based project Helium Mobile, laid off 36% of its workforce in August to streamline operations and focus on its network.
Today in Crypto Adoption...
📊 Emory University reported a $15.1 million investment in Grayscale’s Bitcoin Mini Trust, making it one of the few universities directly holding crypto assets.
What Do You Meme?
📈 Your Market Update 📉
BTC is up 2.4%, trading at $66,645
ETH is up 2.7%, trading at $2,532
BTC dominance: 55.76%
Crypto market cap: $2.43T
*All data as of today, 06:49 am ET. Source: CoinGecko
Recommended Reads
Possible futures of the Ethereum protocol, part 5: The Purge by Ethereum co-founder Vitalik Buterin
Mechanism Capital partner Andrew Kang on the ways token launches need to change
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