Daily Bullets 💊: Vitalik is Spawning Shitcoin Season

💊 Daily Bullets 💊 Thursday, October 20th

Oct 20, 2022

Crypto continues its sideways crab. Bitcoin is sitting pretty heavy on the $19k level. One way or another, we’re due a move soon. Meanwhile - SBF came out with his views on regulation to backlash, NFT marketplace BLUR upcoming airdrop and launch generated some interest and there’s a very interesting degen meta going on around shitcoins created based on Vitalik tweets. He’s been adding $ to certain words and the degens are eager to gamble.

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⛓ Crypto News:

Tether - SmartPay plans to launch USDT in over 24,000 ATMs across Brazil

A group of nearly 4,400 investors have joined forces to find Terraform Labs founder Do Kwon. The so-called UST Restitution Group uses Discord to share clues

Fidelity Digital Assets will start offering its institutional customers the ability to transact with ether on Oct. 28

Fintech firm Plaid - most known for providing open banking APIs - has launched MetaMask, Coinbase, Ledger Wallet Onboard, its first web3 product

Bitcoin mining remained unprofitable throughout Q3

Ethereum alarm clock exploit leads to $260K in stolen gas fees so far

👨‍⚖️ Economic/Government/Regulatory:

SBF‘s view on regulation: I fundamentally believe that blocklists are the correct approach to sanctions compliance on blockchain environments; BTC and ETH are not considered securities; many long-tail tokens acting as investment contracts are securities; tokenizing stocks could help simplify securities settlement

Coinbase joins Grayscale in claiming that the SEC is failing to give spot market Bitcoin ETFs fair consideration

Tesla Q3 earnings report - holding ~ $218M in crypto - did not sell or add in Q3

A leaked copy of the still in-progress Digital Commodities Consumer Protection Act (DCCPA), outlines how the Commodities Futures Trading Commission would regulate the crypto industry

VC firm Paradigm aids Ooki DAO in landmark CFTC lawsuit - They believe case could “seriously threaten the viability of DAOs”

💸 Exchange News:

Customers of bankrupt crypto lender Voyager Digital Ltd. may recover about 72% of the value of their accounts under a tentative deal for the company to sell itself to FTX US

Oanda is launching a crypto trading ecosystem for the U.S. market developed with the Paxos Trust Company

Kraken is the latest crypto exchange to restrict accounts of Russian users on its platform in compliance with sanctions from the European Union

Russian users are welcomed by crypto exchanges in Kazakhstan but they need to set up a local bank card for crypto-to-fiat transactions

Berlin-headquartered online bank N26 will leverage Austrian crypto exchange Bitpanda’s trading and custody platform to give some of the bank’s customers access to up to 200 cryptocurrencies for trading

Cyprus has become the fourth European country to approve registration for Binance

🏦 DeFi News:

BNB chain PancakeSwap proposal for deployment to Aptos chain - recently expanded to the Ethereum blockchain

Binance CEO clarified that the exchange did not intentionally delegate a large amount of UNI tokens to itself, claiming it was a quirk of the Uniswap system

SushiSwap is discussing a new proposed update that aims to form a new DAO structure called Meiji - includes the use of non-transferable “shares” in Sushi governance voting

Gearbox Protocol composable leveraged staking enabled by integration with Lido Finance

A cross-chain bridge between BitBTC and Optimism has been able to avoid a potentially costly exploit thanks to the work of a Twitter user

Snowflake launching direct staking onto Solana through a secure multisig

Proposal Draft for Lido to buy CVX

🖼 NFT/Gaming/Metaverse News:

NFT marketplace Blur is now live after four months of a private beta phase and is airdropping care packages with BLUR tokens to its users and those who list an NFT in the next 14 days

Warner Bros. is releasing NFTs for its iconic 2001 film “Lord of the Rings: Fellowship of the Ring” - Web3 company Eluvio developed the NFTs and is hosting them, along with all the content data, via its Ethereum-compatible Content Fabric blockchain

Ronaldinho tweeted his support for the World Cup Inu token

Marvel, Funko debuted new web3 integrations at Comic Con NY 2022

Indian cricket legend Sachin Tendulkar invests in NFT platform Rario - will exclusively offer Tendulkar's digital collectibles on its platform

💰 Fundraises:

Stealthy crypto hedge fund Edge Capital raises $66.8M for DeFi

Lava Labs, a London-based blockchain gaming startup, raises $10M with a $100M+ valuation

OKX Blockdream Ventures launches $10M fund to support Aptos ecosystem

Spindl raised $7M to build the tools Web 3 needs to bring a billion users onto the new Internet

Collegiate sport fan experience platform Mercury has raised $7.5M in a seed round led by Multicoin Capital

Auto-chess battler Project Eluune raised $5M in a seed funding round led by C² Ventures, with participation from Polygon

The co-founder of Fab.com and Moxiehas raised $3M in a pre-seed round for his latest venture Airstack, a Polygon-backed web3 API platform

Blocto’s First Aptos Ecosystem Fund - $3M Blocto Ecosystem Fund

BetterData raised $770K to help create better synthetic data

👶 Early Stage Projects:

Introducing Solana Core - the first buildspace program designed to turn anyone into a Solana legend

Velodrome Sugar - new tool that we built to make it easier for devs to work with Velodrome

Public beta launch of the MetaMask SDK: a set of simple, reliable, and secure tools that make it easier to connect your dapp to a wallet

Introducing the CoinList Seed Fall 2022 Batch - early stage startups

WEMIX3.0 is live - the genesis block of WEMIX3.0 Mainnet has been created

Ladder's testnet is live - provides liquidity for NFT swaps

Ava Labs has released Core web, a free, all-in-one command center giving users a more intuitive and comprehensive way to view and use Web3 across the Avalanche network

The Milkomeda A1 rollup is now live on Algorand Mainnet

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: Today’s smart money is light and mostly flowing into USDT, WETH, COMP. Outflow today is greater and continues flowing out of stables - USDC and BUSD. Weekly also continues showing a flow into stables USDC/USDT and some WETH with outflow from WBTC and DAI. NFT volume continues to be unimpressive. Dodoor and Nyolings have been able to see 100%-200% floor increase over the last 1-3 days. Vitalik Buterin is inspiring a mini memecoin season with several shitcoins over the last few days launched based off his tweets.

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:

How our team makes millions in crypto risk-free - Exploiting crypto markets for fun and profit - source

FTX - Possible Digital Asset Industry Standards - source

a16z - Regulate Web3 Apps, Not Protocols - source

Delphi - Dawn of a Modular Blockchain Era - source

Variant Fund - When Tokens Shape Behavior - source

The DeFi Appchain Design Space - source

All about Liquidations — A Look at On-Chain Metrics - source

What The Fork Is Going On? An examination of modern power structures in mature smart-contract L1s - source

Element, a new NFT market invested by Sequoia, can it succeed? - source

Things Hidden Since the Foundation of Blockspace - source

Announcing the dǝath of liquidity mining - source

3Q22 VC Market Update - source

Messari - State of Harmony Q3 2022 - source

Messari - State of Friktion Q3 2022 - source

Messari - State of Metaplex Q3 2022 - source

Have you seen our institutional-quality research?

M6 Research

🌍 Crypto Twitterverse:

Sisyphus @0xSisyphus

Do we think he knows what he's doing every time he puts the cashtags on Vitalik saving ethereum activity with meme coins

vitalik.eth @VitalikButerin

@haramhartmut @hasufl @evan_van_ness @barnabemonnot @gballet Actually now that I think about it, calling a cryptocurrency $DIE is even funnier in Chinese.

SBF @SBF_FTX

1) As promised: My current thoughts on crypto regulation.

ftxpolicy.comPossible Digital Asset Industry StandardsDraft of a set of standards that we as an industry could enact to create clarity and protect customers while waiting for full federal regulatory regimes

ElBarto_Crypto @ElBarto_Crypto

An analysis of VC funding courtesy of @DefiLlama's new raises data. -First up, looking at total investments to lead investments -@a16zcrypto has an impressive "Lead to Invest" ratio, being the lead investor on 20 of the 24 raises tracked by Llamas (1/6)

Maven 11 @Maven11Capital

Modularity. Modular blockchain architecture allows us to build sovereign communities, which can be verified not just by some, but by all; Interconnected, sovereign and scalable. A thread on Celestia; the first modular blockchain network.

_gabrielShapir0 @lex_node

I have long been a believer in transparency and open discussion of the future of cryptolaw. Accordingly, I have obtained a copy of a draft of the notorious DCCPA circulating secretly in D.C. and am hereby making it available to the public.

github.comCrypto-CaseLaw/DCCPA Markup Latest 10.19.22.pdf at main · LeXpunK-Army/Crypto-CaseLawa repository of filings, opinions, etc for cryptolaw cases - Crypto-CaseLaw/DCCPA Markup Latest 10.19.22.pdf at main · LeXpunK-Army/Crypto-CaseLaw

Alliance 👽 @alliancedao

The DCCPA greatly threatens DeFi innovation. The proposed bill: - gives CFTC new powers to regulate spot markets - forces human intermediation - forces projects to sacrifice decentralization It favors centralized incumbents and kills startups. Alliance opposes the DCCPA. 🧵

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!