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- 🤑 A Big Win... But Not for All 🐻
🤑 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
It was a bad day for bears as bitcoin rallied to a seven-month high, triggering large-scale liquidations.
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.
A backend issue on Phantom resulted in almost three hours of downtime on Monday.
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’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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