Blocksight

Aggregating latest Web3 happenings

[Blocksight @BlocksightHQ]

ᴡᴇᴇᴋʟʏ ʀᴇᴄᴀᴘ ᴡɪᴛʜ ʙʟᴏᴄᴋꜱɪɢʜᴛʜQ - 20/10/24 - 26/10/24

Bitcoin's 16th birthday was markedly celebrated while peaking at ~$73k and almost crushing its previous all-time high of $73.7k.

Last week was entirely bullish for crypto, and speculation presses on for various crypto assets that'll join $BTC in its walk to the moon.

Meanwhile, memecoin mania is reducing, and stablecoin adoption is rising faster than ever, with different institutions launching their version of stable assets.

Here's the most relevant crypto happenings from last week:

𝙄𝙉𝙎𝙏𝙄𝙏𝙐𝙏𝙄𝙊𝙉𝙎:

➫ Solayer Labs unveils $sUSD on @Solana—the first RWA-backed synthetic stablecoin, enabling users to access tokenized U.S. Treasury Bills.

➫ Visa and Coinbase partner to enable instant crypto purchases via debit cards.

➫ Canary Funds files for a Solana #ETF.

➫ Franklin Templeton’s $410M on-chain money market fund goes live on Base L2.

➫ Switzerland's largest bank, UBS, launches its first tokenized investment fund on Ethereum decentralized technology.

➫ Paxos introduces its global dollar stablecoin, $USDG.

➫ 21Shares files for $XRP #ETF.

➫ Reddit stated it sold the majority of its cryptocurrency holdings before the October pump.

➫ @vaneck_us forecasts Bitcoin to reach $3M and a reserve asset by 2050.

➫ Saylor and $MSTR announce the "21/21 Plan," aiming to raise $42B over the next three years through debt and equity offerings in order to buy more #bitcoin.

𝘼𝙇𝙋𝙃𝘼𝙎:

➫ $FDUSD stablecoin set to debut on @solana to boost its ecosystem.

➫ WalletConnect introduces WCT rewards for node operators, wallets, and SDKs, incentivizing network security and performance.

Rewards are performance-based, designed to encourage sustained participation and align long-term ecosystem growth.

𝙃𝘼𝘾𝙆𝙎 𝘼𝙉𝘿 𝙎𝘾𝘼𝙈𝙎:

➫ Hacker exploits Truth Terminal founder’s (Andy Ayrey) X account, nets $600K by promoting a scam token per.

➫ YouTube Star MrBeast embroiled in crypto insider trading probe to the tune of $23M in profit.

➫ FTX is seeking $50M in asset recovery from KuCoin in its latest legal battle to reclaim its frozen assets in the crypto exchange from its crash in 2022.

This follows its dropping lawsuit against Bybit after a similar case scenario.

𝙊𝙩𝙝𝙚𝙧 𝙧𝙚𝙡𝙚𝙫𝙖𝙣𝙩 𝙣𝙚𝙬𝙨:

➫ Binance debuts "Binance Wealth", a dedicated service for its high-net-worth customers in Asia and Latin America.

➫ Consensys, the developer of Metamask, lays off 20% of their workforce and cites rising costs of ongoing legal battles with regulators as the main reason for this staff layoff.

➫ Optimism Foundation agreed to give grants of 25M $OP tokens (worth $42.M at current price) to @krakenfx as part of the crypto exchange's deal to build a new layer-2 network, @inkonchain on the OP Stack framework.

➫ Florida State Chief Financial Officer @JimmyPatronis urges the state board administration to include Bitcoin in the state pension funds.

➫ Ethereum founder Vitalik Buterin donates over $1 Million to Ukrainian humanitarian non-profits.

➫ FTX drops lawsuit against Bybit in $228M settlement deal.

➫ Immutable, a leading gaming blockchain, gets a Wells notice from the SEC.

Afterward, they issued a strong statement to fight and defend its thriving and innovative ecosystem that creates value for creators and gamers.

➫ Trump's WorldlibertyFi cuts fundraising target by 90% to 30M $WLFI tokens.

➫ @tether announces dirham pegged stablecoin on @ton_blockchain, first launched on @mobee_id.

➫ Ethereum researcher and core member of the Ethereum Foundation, Justin Drake, abandons his advisory role at Eigenlayer Foundation, citing a clash of interest between those two foundations.

➫ Court adjourns Tornado Cash developer Roman Storm's criminal trial to April 14 to give the parties time to work out a disagreement about expert witness disclosures, per Coindesk report.

➫ Self-custodial cryptocurrency wallet Safe Pal launches Telegram crypto wallet with Visa card support.

➫ TON Foundation launches Society DAO (@ton_society) for decentralized governance.

Follow @BlocksightHQ for more aggregated daily happenings in web3.

Thanks for reading!

[Blocksight @BlocksightHQ]

SOURCE:

https://t.co/9fiX1XCh6I

https://t.co/j9Zt8d8WEB?

[notzachxbt @243MTheft]

On the 19th of August 2024, @ZachXBT deployed an ERC-20z token on the Base network, bootstrapped with an LP using the Zora protocol. This transaction can be found below.
https://t.co/VCYStM49Ef

A few months ago, Zora released their ERC-20z standard as a way of providing liquid secondary markets to its open-edition NFTs. The Zora protocol takes a portion of the mint revenue to automatically deploy an LP once the mint ends. All NFTs using this format are immediately tradeable on a DEX, without the need to create a seperate wrapper or index contract. Zora made this standard the default option for all new mints. Since then, it has become popular to trade these as 'artcoins'.
https://t.co/j2jjLqGJAd

Zach minted his most recent investigation on Zora - using this new standard. It is unclear whether or not Zach was aware of or intended to use this standard, as it needs to be toggled off and the update may not have been properly communicated by Zora. Regardless, the result is that Zach launched a token with an automatically deployed LP, a format much like many pumpfun and presale tokens.
https://t.co/DnX5lfqUPv

The token had about 2800 editions minted, with some extra created by the contract thereafter for the LP. When the mint ended, these tokens along with a share of the eth revenue were automatically deployed by the contract as a locked LP. All fees from this go to Zach.
https://t.co/ueVnSEjRjY

The price initially crept up as Zora users late to the mint bought it on secondary. You are automatically routed through uniswap when using the Zora UI - but by pressing the three dots on the page, you can access the dexscreener for this token. It sat at a market cap of under $10k for about two weeks, before some traders started to pick up on it. The majority of the LP is controlled by a DAO multsig, giving some confidence to the market.

The price now sits at $1100, up over 3000x from mint. It is wonderful to see Zach and his supporters rewarded by the market this way. It’s an interesting look into how the format and liquidity of a token affect the velocity and staying power of capital in crypto markets, and proves that provenance is important to collectors regardless of formatting.

Some of Zach’s fans have formed a community around this token, creating memes, a telegram, this twitter, and even bridging the token to Solana so it can be traded there. You can join us here -
https://t.co/J0STJp09N6

CA (Base) - 0xd68470491Eb513365322810e55e0EBa80785DFDD
Solana bridged token (wormhole) - AtpE9GQbEsnGV3H5oaLbcVRwHyyPXAy4nScTWV9WZ5hN

[Blocksight @BlocksightHQ]

Crypto Sleuth ZackXBT accidentally created tradeable NFT tokens on the 19th of August on the Zora network, now running up to $3.4m in market cap.

[Blocksight @BlocksightHQ]

SOURCE:
https://t.co/CWoeGjpNeI

[Blocksight @BlocksightHQ]

Telegram mini game @hamster_kombat has shed over 259 million players from its July high, with the $HMSTR token facing a 76% drop from its launch price.

[Blocksight @BlocksightHQ]

Hours before the U.S. election, #Trump continues his lead on @Polymarket (58/42).

Will this lead hold water in reality?

We can but wait!

#DonaldTrump vs #KamalaHarris

[Blocksight @BlocksightHQ]

SOURCE:
https://t.co/7Z0yZKlF75

[Blocksight @BlocksightHQ]

Alibaba's metaverse ambitions hit a snag as dozens of its employees got laid off.

[Blocksight @BlocksightHQ]

Opensea teases at improved changes on its platform in December 2024, barely a month from now.

[Blocksight @BlocksightHQ]

SOURCE:
https://t.co/PK2KW1hYSb?

[Blocksight @BlocksightHQ]

@a16zcrypto pledges $23 million to Fairshake PAC for 2026 US midterm pro-crypto candidates.

[Blocksight @BlocksightHQ]

SOURCE:
https://t.co/bbdqqahtvL

[Blocksight @BlocksightHQ]

Pakistani government pushes forward with changes to its SBP act to legalize crypto.

[Blocksight @BlocksightHQ]

SOURCE:
https://t.co/CwKxyTa0fQ

[Blocksight @BlocksightHQ]

Europe's largest telecom provider to pilot Bitcoin mining using surplus renewable energy.

[Blocksight @BlocksightHQ]

Skate Chain now allows users to bet on the U.S. elections and other predictions live on Polymarket on its Telegram-based mini-app using both TON and Polygon-based wallets.

[Blocksight @BlocksightHQ]

SOURCE:
https://t.co/lv4aONQWF6

[Base @base]

Each week, we're spotlighting how to use Basename Frames in new and creative ways

'Nominate Me' lets you get nominated for builder rewards straight from your Basename

Get onchain, get a Basename, and get rewarded

https://t.co/tSau1GdzD8

[Blocksight @BlocksightHQ]

@base has introduced a new feature, Basename Frames, which includes a "Nominate Me" function.

This feature allows users to be nominated directly for builder rewards within the Basename platform.

[Blocksight @BlocksightHQ]

SOURCE:
https://t.co/ltCNVR9p1z

[Blocksight @BlocksightHQ]

BBVA launches a tokenized fund in Spain's regulatory sandbox.

[Blocksight @BlocksightHQ]

SOURCE:
https://t.co/1Vzkv5M0Ki?

[Blocksight @BlocksightHQ]

Crypto casino Metawin loses $4 million to exploit of Ethereum, Solana hot wallets.