Crypto Summary For This Week

:coffee: :balance_scale:

  1. SBF found guilty on all charges.

  2. SafeMoon and its executives charged and arrested.

  3. US authorities seize $54M in crypto.

  4. Research shows ~40% of Celestia airdrop addresses are sybil groups.

  5. Musk announces xAI will release its first AI.

Read time: :alarm_clock: 7 minutes


:newspaper: Crypto News :newspaper:

:star: • Sam Bankman-Fried found guilty on all seven charges against him. SBF’s attorneys have since stated, “(SBF) maintains his innocence and will continue to vigorously fight the charges against him.” SBF can appeal the verdict, but not until sentencing.

:star: • SafeMoon and its executives charged for alleged fraud and offering unregistered securities. Two of the executives have been arrested while one remains at large.

• US SEC subpoenas PayPal regarding its $PYUSD stablecoin. PayPal has stated the subpoena requests the production of documents.

• PayPal approved to offer cryptocurrency services in the UK.

• MircoStrategy purchased 155 Bitcoin for $5.3M in October and now holds 158,400 Bitcoin.

• Tether extends debt financing of up to $610M to Northern Data Group to expand its Bitcoin mining, AI, and data center operations.

• Coinbase releases its Q3 '23 shareholder report. Highlights include $674M in total revenue, $172M in $USDC stablecoin interest income, and a trading volume of $76B.

• Prisma Finance launches its Prisma Governance Token. Prisma Finance’s TVL has since increased by over 200% to ~$321M.

• Memecoin by Memeland and 9GAG launches and is currently trading at a Fully Diluted Valuation (FDV) of nearly $2B.


:zap: Alpha :zap:

• Binance releases its monthly market insights for November 2023.

• Polygon zkEVM Saga campaign week 3 is live on Intract.

• Galxe launches Starknet Takeover campaign where several Starknet projects and their campaigns will be showcased over the next few days.

• StarkDeFi mainnet set to launch on November 30th.

• Omni Network Overdrive campaign to conclude on November 10th. Last chance for users to participate.

• DeBank launches new Web3 Badge. Users who have received at least 1000 trusts can mint the badge on Nov 4th.


:parachute: Airdrops :parachute:

:star: • X-explore and WuBlockchain research shows ~40% of Celestia airdrop addresses are sybil groups.

• DeFi Airdrops posts thread covering an EigenLayer vote on Jokerace that will determine which LST will be added.

• Alpha Drops posts thread on 5 tokenless Solana projects and strategies to potentially qualify for future airdrops.

• Alpha Insiders posts how to deploy a smart contract on Scroll with Owlto Finance.

• ICYMI: Earndrop posts thread on the Pyth Network airdrop where users can check for eligibility today.


:newspaper: Finance News :newspaper:

• US House of Representatives pass bill that will provide $14.3B in aid to Israel and cut funding from the Internal Revenue Service (IRS).

• US Federal Reserve pause interest rate hikes and remain at 5.25-5.5%.

:star: • Elon Musk announces xAI will release its first AI to a select group stating, “In some important respects, it is the best that currently exists.”


:shield: Security and Exploits :shield:

:star: • US authorities seize $54M in cryptocurrency linked to a New Jersey drug distribution scheme. The seizure includes 30,000 $ETH worth ~$54.2 million.

• Webacy adds revoke tool within the Wabacy dashboard.


:coin: Token Unlocks :coin:

• Liquity / 657.35K $LQTY / ~$1.12M / NOV 04

• Galxe / 5.18M $GAL / ~$6.78M / NOV 05


:moneybag: Funding :moneybag:

• Modulus, a platform that brings AI onchain; raises $6.3M in seed funding round co-led by 1kx and Variant.

• Toposware, a pioneer in zero-knowledge technology; raises $5M in strategic seed extension round.

• Intract, a Web3 quest platform; raises $3M in seed funding round led by tokentus investment AG.

• Trips, a content creator protection and monetization platform; raises $2.5M in pre-seed funding round.

• INTMAX, a stateless zkRollup; raises an undisclosed amount in strategic investment round.


:ear_of_rice: The Degen Farmer :ear_of_rice:

• Sommelier /GHO-USDC-USDT / 52.25%

• Velodrome V2 / USDC-MAI / 39.21%

• PancakeSwap AMM V3 / TUSD-USDT / 38.23%

• DefiChain DEX / USDT-DUSD / 35.06%

• Idle / USDC / 31.64%

• Vela Exchange / USDC / 30.22%

• Aura / DOLA-USDC / 24.48%

• Sherlock / USDC / 22.08%