🎉 Polymarket Scores Bloomberg Terminal Integration

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Polymarket, the booming web3 prediction market, keeps forging ahead, with the Bloomberg Terminal now featuring data from the platform’s election markets alongside polling results. The integration follows Polymarket hosting record activity for the fourth consecutive month.

Crypto markets recovered from an overnight selloff after comments from Atlanta Fed President Bostic buoyed investor sentiment. BTC, ETH and DOT are flat on the day, while SOL is up 2%.

Pendle paused its contracts after Penpie, a yield protocol built on top of the Pendle, suffered a $27 million exploit.

Galois Capital, a defunct crypto hedge fund, settled with the SEC over alleged custody failures relating to FTX’s disastrous collapse in 2022.

Plus, Euler stages a comeback with a v2 launch, and Movement Labs claims to unlock one-second finality on Layer 2.

✍️ In today’s newsletter:

Bloomberg Terminal integrates Polymarket data
Pendle pauses contracts after Penpie exploit
Galois Capital settles SEC lawsuit
Euler Finance ships modular v2 iteration
Movement Labs pioneers transaction “postconfirmation”
Markets drop as ETFs continue to bleed assets

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️🔌Bloomberg Terminal Integrates Polymarket Election Data

Bloomberg Terminal now hosts election market data from Polymarket, the largest web3 prediction platform. Polymarket’s CEO said the integration will expose tens of millions of Bloomberg readers to the web3 platform. The news comes after Polymarket hosted record volume of $472.9 million from 63,616 traders during August.

⏸️ Pendle Pauses Contracts After Yield Protocol Penpie Suffers $27 Million Exploit

Pendle, the largest yield tokenization platform, paused its smart contracts after Penpie, a DeFi protocol built on top of Pendle, lost $27 million to hackers. Pendle said that while an investigation revealed Pendle was not at risk, Penpie’s losses could have exceeded $100 million if Pendle hadn’t halted its contracts.

🤝🏻 Galois Capital Settles With the SEC Over Alleged Custody Failures

Galois Capital, the failed crypto hedge fund, settled a legal challenge from the U.S. Securities and Exchange Commission (SEC) over its custody practices. The SEC claimed Galois failed to ensure that all of the crypto assets invested in its private fund were held by a qualified custodian, resulting in significant losses when FTX collapsed.

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👀 Euler Finance Rises From The Ashes With Modular v2 Release

Euler Finance is looking to make a comeback with the launch of its modular v2 iteration. The new protocol allows developers to permissionlessly create bespoke token vaults supporting borrowing and lending, with the option to connect and build on existing vaults. The launch follows Euler entering “hibernation” mode after suffering a $197 million hack in March 2023.

⏱️Movement Labs Claims One Second L2 Transaction Confirmations Are Possible

Movement Labs unveiled a new transaction validation technique the team claims offers one-second confirmation on Layer 2. Movement’s “postconfirmation” mechanism guarantees L2 transactions once two-thirds of validators have agreed on the transactions included in a block.

🎢Bitcoin Trades Flat as Crypto Market Cap Hovers at $2 Trillion

Cryptocurrency markets are having a volatile Wednesday, with the global market capitalization briefly dropping below the $2 trillion mark. BTC is trading at $58,000 after dipping as low as $56,000 earlier in the day, while ETH is changing hands at $$2,450 after bouncing from an intraday low of $2315.

🌍 ELSEWHERE

Outlier Ventures says four-year cycle is dead after Bitcoin’s 'worst price performance following any halving to date' (The Block)
Most TON Holders In the Red as Price Keeps Falling After Telegram CEO Arrest (Decrypt)
Japan’s Financial Regulator Mulls Taxing Crypto as a Financial Asset (CoinDesk)
21Shares Enters the Wrapped Bitcoin Market on Ethereum (Unchained)