🔝 Solana's 600% Volume Jump
In today’s edition: 💡 No surge from accounting change?, 🔧 BlackRock, ARK tweak ETFs, 💹 Bitcoin interest peaks at CME, 💻 Million-dollar bug hunt, and more!
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What’s Poppin’?
by Kari McMahon, Sage Young, Brandy Betz and Samyuktha Sriram
Solana Takes the Lead in Daily Stablecoin Transfer Volume
Since the start of December, Solana’s daily stablecoin transfer volume has grown 600% to $16.6 billion and now outpaces major blockchain networks, according to Artemis, an institutional crypto data platform.
New Crypto Accounting Rules Unlikely to Bring ‘Sea Change’ in Corporate Adoption
FASB’s new accounting standards for cryptoassets have received praise from the industry but are unlikely to bring a surge in crypto adoption on corporate balance sheets – for now.
BlackRock, Others Amend Bitcoin Spot ETF Proposals, Bowing to SEC
BlackRock, ARK Invest and WisdomTree on Monday submitted amended bitcoin spot ETF proposals that include cash creation, seen as the U.S. Securities and Exchange Commission’s preferred redemption model.
Bitcoin Open Interest on CME Hits All-Time High
Options open interest on CME Bitcoin futures hit an all time near $2 billion, while total open interest across crypto derivative exchanges surged to $19 billion – a level last seen in December 2021.
Atomic Wallet Announces $1 Million Bug Bounty Program
The decentralized wallet firm plans to offer a million-dollar payout pool to those that identify bugs on its platform as it battles a class action lawsuit over $100 million lost in a data breach earlier this year.
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Swan founder and CEO Cory Klippsten is all-in on Bitcoin. Not only does he believe that Bitcoin is poised to reach $1 million by 2030, he also thinks most alt-coins add little to no value and will eventually all go to zero. Accordingly, his company is a massive bet on the future of Bitcoin, from educating people about the world’s first crypto and convincing them to eventually self-custody, to making private equity investments in the Bitcoin ecosystem, to eventually planning to launch the first US Bitcoin-only trust company to create a safer environment for investors.
Here he talks to Unchained about his crypto journey, the likely impact of spot Bitcoin ETFs on crypto adoption and prices, his extreme skepticism about Bitcoin Ordinals, when he first knew Sam Bankman-Fried was a fraud and why he thinks that crypto VCs have done a “massive disservice” to the world.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
Read the transcript here:
Daily Bits…✍️✍️✍️
🚫 BloXrout, an Ethereum relay provider, will start rejecting transactions involving OFAC-blacklisted addresses, aligning with U.S. sanctions compliance.
⚖️ FTX debtors reached a settlement with Bahamian subsidiary FTX Digital Markets, coordinating bankruptcy proceedings across jurisdictions for asset distribution to FTX.com customers.
🏦 A Montenegro court canceled the approval of Do Kwon’s extradition to South Korea and the U.S., citing procedural issues and ordering a retrial.
📈 EigenLayer's total deposits surged to over $900 million, driven by increased caps for liquid staking assets, reaching 410,000 ether.
📱 Access Protocol airdropped $250 worth of ACS tokens to Saga phone owners, following a significant surge in trading activity and interest in the phones.
🐕 Shiba Inu developers are collaborating with D3 to potentially introduce a '.shib' internet domain, focusing on decentralized identity projects.
💸 The Iron Bank Euro (ibEUR) stablecoin experienced a significant devaluation, with no immediate solution for regaining its Euro peg stability.
🔗 Despite a crypto trading ban, China aims to boost NFT and decentralized application development, focusing on governance, industry, and innovative business models like web3.
🔍 The UK's finance minister will investigate the challenges faced by licensed crypto firms in opening business accounts, aiming to bolster London's position as a global crypto hub.
🔒 Crypto exchange OKX fixed a vulnerability in its iOS app, urging users to update immediately, with no reported loss of assets or user security threats.
🌐 Lisk blockchain is transitioning from a Layer 1 to an Ethereum Layer 2 solution in collaboration with Optimism and Gelato, focusing on integrating real-world assets.
What Do You Meme?
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12 Charts That Tell the Story of Crypto in 2023
The crypto industry’s leading research firms share 12 charts that illustrate the major trends of 2023.
📈 Your Market Update 📉
BTC is up .1%, trading at $42,917
ETH is down 1.1%, trading at $2,208
BTC dominance: 49.89%
Crypto market cap: $1.68T
*All data as of today, 07:34 am ET
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