Unexpected Consequences 🤨 🪖

In today’s edition: ⚖️ SEC challenges Ripple ruling, 🧐 Polymarket rethinks "Hezbollah" tags, 📉 TIA token holders brace for massive unlock, 🚀 DEGEN soars, and more!

October 03, 2024

Transform financial services through DeFi & Tokenization at Meridian 2024. Stellar Development Foundation’s annual conference will take place in London, UK, from October 15 to 17. Learn More.

Unlock zero trading fees, up to 5.1% APY on USDC, boosted staking rewards and more with Coinbase One. Try it free for a month with code UNCHAINED.

Bittensor, a decentralized AI project, is gaining attention as one of the most promising intersections of AI and crypto.

AI and crypto are two of the hottest topics of the decade, but are there any projects truly making waves at the intersection of both? Bittensor, an open-source, decentralized AI network, is positioning itself as a leader in this space, with its TAO token seeing explosive growth and its model challenging traditional centralized AI companies.

In this episode, we’re joined by Joseph Jacks, aka JJ, founder of OSS Capital, and Sami Kassab, partner at OSS Capital, to explore why they’ve gone all-in on Bittensor. They discuss how Bittensor works, what makes it different from centralized AI models, and why they believe this project could be transformative for both crypto and AI.

Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.

Earn bitcoin on Gemini here.

What’s Poppin’?

by Tikta, Veronica Irwin and Sage D. Young

National security issues typically take precedence over other legislation, according to experts.

The SEC has submitted a notice of appeal to the Second Circuit Court of Appeals in Manhattan, seeking to challenge a federal judge’s ruling in its case against Ripple.

Ethereum’s Vitalik Buterin argued in favor of Middle East conflict-based betting markets, saying “it’s not about making money from bad stuff happening,” but rather creating an environment where speech has consequences without government censors.

Roughly 175.56 million TIA tokens will be unlocked, which represents about 82% of the current circulating supply, Messari data shows.

Since Coinbase announced it added DEGEN to its listing roadmap, the token has seen its market cap surpass $160 million.

Austin Campbell, a New York University professor and founder of Zero Knowledge Consulting, discusses Operation Choke Point 2.0 and how regulators could have better addressed banking risks.

Daily Bits… ✍️✍️✍

  • 🚪 Three senior executives, including the former chief operating officer, have left OpenSea in the past three months, adding to the platform's challenges amid falling NFT trading volumes and regulatory scrutiny.

  • 🎲 Prediction market operator Kalshi reopened its US election-based betting pools after a federal appeals court lifted a previous ban, sparking renewed interest in the platform.

  • ⚖️ Gurbir Grewal, the SEC's Enforcement Director, will step down this month after leading over 2,400 enforcement cases, with his deputy Sanjay Wadhwa set to take over as acting director.

  • 💰 The FTX estate is auctioning off 22.3 million locked Worldcoin tokens, valued at around $38 million, at a steep discount, as part of efforts to recover funds for creditors, with bids due by Wednesday.

  • 🔄 In response to concerns over transparency, EigenLayer updated its documentation to clarify that early investors were staking locked tokens and receiving unlocked rewards, addressing confusion within the community.

  • 🇹🇼 Taiwan's Financial Supervisory Commission drafted new anti-money laundering regulations requiring crypto firms to register for compliance by September 2025 or face penalties, including jail time, with the rules set to take effect in January 2025.

Today in Crypto Adoption...

  • 🚀 BlackRock's tokenized money-market funds are closer to being used as collateral in trading after a key CFTC subcommittee approved guidelines to incorporate blockchain technology, with the full committee expected to vote on the matter later this year.

What Do You Meme?

📈 Your Market Update 📉

  • BTC is down 0.8%, trading at $60,711

  • ETH is down 4%, trading at $2,353

  • BTC dominance: 54.46%

  • Crypto market cap: $2.2T

*All data as of today, 06:10 am ET. Source: CoinGecko

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