Crypto Weekly 10/27/24
A weekly summary of the latest crypto news...
Crypto weekly is authored by maaria and serdave
PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($2.41T): -3% / +36%
- BTC ($67,705): -1% / +59%
- ETH ($2,490): -8% / +9%
- SOL ($176): +10% / +73%
- UNI ($7.53): -1% / +3%
- POL ($0.33): -14% / -66%
- Tether Mkt Cap ($120B): 0% / +31%
- USDC Mkt Cap ($34.6B): -1% / +42%
- BTC / ETH Dominance: 56% / 13%
THIS WEEK IN CRYPTO
- The US is investigating Tether and its USDT stablecoin for sanctions and anti-money laundering violations. The news sparked a sell-off across crypto assets. Link. Link.
- Stripe acquired stablecoin software provider Bridge for $1.1 billion, the largest acquisition ever for the cryptocurrency industry. Link.
- Decentralized social media platform Farcaster made $32k in revenue last month, a decline of over 96% from a peak of $415k in February. Link.
- Microsoft shareholders will vote on investing in bitcoin during its annual shareholder meeting in December. The board of directors has recommended that shareholders vote against it. Link.
- Truth Terminal, the AI trading bot funded with $50,000 worth of bitcoin in July by venture capitalist Marc Andreesen, now holds over $10 million in its crypto wallet. It's trading activity has led to a surge in AI meme tokens and AI agents that use cryptocurrencies. Link. Link.
- Pennsylvania became the latest state to pass a bill protecting residents' rights to self-custody digital assets and use bitcoin as a payment. Roughly 12% of residents in the state own some form of digital assets. Link.
- Ethereum Layer 2 ApeChain launched during ApeFest in Lisbon. APE rose 100% on the announcement. Link.
- Centralized exchange Kraken is launching its own ethereum Layer 2 built on Optimism's tech stack. Link.
- Buenos Aires launched a digital identity service that uses ZK proofs to allow residents to access municipal services without revealing personal information. Link.
- A Nigerian court dropped charges and authorized the release of Binance executive Tigran Gambaryan, who had been detained in the country since February. Link.
- Layer 2 network Scroll released its native governance token this week. Scroll is notable for being one of the few fully EVM equivalent zero knowledge rollups. Link.
- Early bitcoin developer Peter Todd has been in hiding since an HBO documentary alleged he is Satoshi Nakamoto. Link.
- Leading oracle provider Chainlink is expanding its services to Bitcoin for the first time with a partnership with Bitcoin Layer 2 Spiderchain. Link.
- Liquid restaking protocol Lido plans to support ethereum solo staking with a minimum of 1.5 ETH, vs the 32 ETH required to run an individual ethereum node. Lido currently accounts for less than 30% of the staking market. Link.