Daily Bullets 💊: Bitcoin Whitepaper 14th Anniversary and Upcoming FOMC
💊 Daily Bullets 💊 Monday, October 31st
Crypto markets saw some oomph over the weekend but have now begun to take another breather. Important to remember that this week we’ve got FOMC on Nov 2 - expected to be 75 bps and CPI next week on Nov 10 - so watch out for funky market moves. Today is also the 14th anniversary of the Bitcoin whitepaper. Imagine if you just would’ve bought Bitcoin back then.. Thinking about the Bitcoin Pizza Guy today - the dude who spent 10,000 bitcoin on two large pizzas.
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⛓ Crypto News:
Bitcoin Whitepaper! Officially released by Satoshi Nakamoto on October 31st, 2008
Blockchain infrastructure company Chain announced an undisclosed-sum advertising and promotional partnership deal with NBA team the Miami Heat to become their “official Web3 and blockchain infrastructure partner”
Matter Labs, developer of zkSync, is working on a Layer 3 chain called Opportunity - plans to release a proof of concept in the first quarter of 2023
A judicial report has reportedly revealed that crypto lender Hodlnaut lost around $189.7M due to its exposure to the Terra crash
A revised vision of the Cosmos Hub is now expected to be on-chain for voting on Oct. 31, after being originally scheduled for Oct. 3
Digital bank Revolut partnered with DEX aggregator 1inch to introduce its joint crypto “Learn & Earn” course focused on DeFi
Dogecoin flips Cardano in Market Cap
Private equity firm Apollo Global Management has expanded its crypto offering through a partnership with crypto custodian platform Anchorage Digital
👨⚖️ Economic/Government/Regulatory:
United States-based crypto advocacy group Blockchain Association has come out in support of Ripple Labs amid its ongoing legal battle with the SEC, claiming the case could be very important for the future of the crypto industry
Terra co-founder Do Kwon faces a $57M class-action lawsuit in Singapore. The lawsuit alleged Kwon and others made fraudulent claims on UST
The Reserve Bank of India will begin a pilot wholesale digital currency with the goal of reducing transaction costs and the need for collateral when trading government securities
Singapore pilots tokenized fiat with smart contract capabilities
Government Policy Statement on development of Virtual Assets in Hong Kong
The financial technology associations for Thailand and Hungary have signed a bilateral Memorandum of Understanding (MOU) to support the introduction of blockchain technology to their respective financial sectors
💸 Exchange News:
FTX staff has been encouraged to make the move to Miami, which is home to FTX Arena, by mid-November
Allegedly: the former CEO and CFO of Huobi has resigned. Justin Sun's TRON team has taken over important departments of Huobi. Huobi has 1,600 employees, Justin Sun believes that there are too many people, and there may be large-scale layoffs
FTX teases partnership with GameStop
Alta, a Singapore-based alternative-assets marketplace formerly known as Fundnel, has acquired the digital securities exchange Hg Exchange
🏦 DeFi News:
Aptos-based DeFi project Arco Protocol facing criticism after a error-struck token sale and a sudden loss of key partnerships - gives decision to its community: back it or let the whole thing shut down
The attacker behind the $14.5M exploit of crypto launchpad Team Finance has returned ~ $7M worth of tokens to four projects
The Injective Explorer V2 is now live. Major upgrades include interactive views of interchain assets, a markets section, smart contract code
FriesDAO hacked for $2.3M in latest Profanity exploit
HUSD stablecoin peg lost - dropped to as low as $0.30. Huobi plans help users convert HUSD to USDT
Hop’s first liquidity mining program is live
🖼 NFT/Gaming/Metaverse News:
Mark Zuckerberg cast as web3 supervillain in forthcoming game. The Rabbit Hole features characters that are “posed to defend Web3 from the corporate overlord, Metazuckbot”
💰 Fundraises:
Crypto wallet Braavos raised a $10M round to simplify crypto wallets on StarkNet led by crypto-focused investment giant Pantera Capital. Other investors in the round included Road Capital, BH Digital, DCVC, Crypto.com, Matrixport, and StarkNet creator Starkware
The Stellar Development Foundation $10M Enterprise Fund investment in NetXD Inc., a platform that enables businesses to manage their asset securitization and digital asset custody needs
RakkaR Digital, a Singapore-based crypto custodian that uses technology from Fireblocks, has raised $10M in a seed funding round backed by a single investor - SCB 10X
Fluidity, which aims to solve the utility problem in DeFi by introducing a novel incentive mechanism that rewards users for on-chain transactions. raised $1.3M in a seed round led by Multicoin Capital, with participation from Circle Ventures, Solana Ventures, Lemniscap plus others
👶 Early Stage Projects:
Matter Labs releases first phase of zkSync 2.0 mainnet called 'baby alpha'
1% of the Sei token supply is allocated to our incentivized testnet and rewarding early members of the Sei community who use the chain
Binance announces the 31st project on Binance Launchpool - Hashflow (HFT), a decentralized exchange connecting traders with professional market makers
ETHLison Hackathon Winners
Agoric Composable Smart Contract Framework mainnet-1 is live
Amarok, the network upgrade of Connext Network, is finally complete, and it's ready to be launched in Beta in the coming weeks
Introducing Forward, a permissionless protocol for improving NFT liquidity WITHOUT abandoning creator royalties
Releasing, Alchemy Transact - get full control over your transactions, while unlocking a 100% transaction success rate, at 7.9x the speed
Calling for proposals for naming StarkNet’s testnets
What’s your take on today’s news? Anything interesting that you have to say about these stories? Did we miss anything that should’ve been included?
📊 Data:
TL;DR: Smart money still never decided to jump into the recent rally. Today we’ve got conflicting moves with money flowing into one form of USDC however more money flowing out of another form of USDC (Aave and Compound USDC). Weekly shows the same conflicting USDC move and overall there are greater outflows than inflows for ETH related plays and WBTC. NFT volumes continue to grind downwards - top collection not even 400 ETH today. Dogecoin was the 4th most traded crypto in the past 7 days with $45B in volume - more than BUSD and USDC.
Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to...
- Inflow (1D):
- Outflow (1D):
Weekly:
- Inflow (7D):
- Outflow (7D):
Nansen NFT Hot Contracts:
What is the Data telling you? See anything that sticks out to you?
🎓 Research/Reads:
According to this research 97.7% of tokens launched on Uniswap were rugs - source
Blockchain Security Alliance Q3 2022 Blockchain Security Report - source
Arbitrum Part 2 - Non Copypasta protocols - source
The Essential DeFi Tax Guide - source
The Stablecoin Arms Race - Token Insights: Blockchain central banks are coming - source
The dream of redistributing the extracted value - source
A Crypto Pragmatist Deep Dive: Integral Size - source
The Curve Wars and 4Pool Drama (Part 2) - source
Rethinking DeFi Tokenomics - source
Measuring risk for DeFi yield strategies - source
FAN TOKENS: Tokenizing Fandom and Onboarding Millions of Sports Fans to Web3 - source
GCR Investment Review – Third Quarter 2022 - source
Have you seen our institutional-quality research?
🌍 Crypto Twitterverse:
Did we miss anything or is there anything you want to discuss? We’d Love to hear your feedback and engage with the community! Feel free to leave a comment and let us know your thoughts on the Crypto market!
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