🤔Ethereum Foundation Mulls Staking ETH

GM Defiers!

The Ethereum Foundation is exploring staking its ETH through third parties. The news comes as the foundation’s management of its reserves remains a controversial subject.

DYdX has begun to sunset its V3 iteration. Users can still withdraw the $100M in assets that remain in the protocol thanks to Stage 1 decentralization.

Bitcoin dominance is at its highest level since 2021 as ETH and altcoins underperform.

Also, Lamborghini taps Base for NFT mint, hacker returns stolen assets to U.S. government wallet, Mantle’s mETH protocol announces airdrop, and web3 game Off The Grid enjoys surging adoption.

✍️ In today’s newsletter:

• Ethereum Foundation is exploring ways to stake its ETH
• DYdX v3 begins winding down
• Bitcoin dominance tests 60%
• Lamborghini to launch NFT on Base
• U.S government hacker returns 97% of stolen funds
• Mantle pencils COOK airdrop for Oct. 29
• Off The Grid boasts more than 500,000 daily users
• BTC flirts with $69,000 yet again

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📈 Markets in the last 24 hrs:

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🥩Ethereum Foundation Is Exploring Staking Its ETH

The Ethereum Foundation is mulling a grants program that would allow third parties to stake the organization’s ETH. The news comes as the foundation’s ETH sales continue to attract pushback from the Ethereum community.

👀DYdX V3's TVL Is $100M As Shutdown Begins — But Users Can Still Withdraw

DYdX has begun to sunset its v3 iteration, with trading and funding functionality now halted. However, users can still withdraw the $100 million in assets still held in v3’s smart contracts, owing to the network’s implementation of validity proofs to attain Stage 1 decentralization.

📈Bitcoin Dominance Reaches Highest Level Since 2021

Bitcoin continues to outperform the broader crypto markets, with its market cap dominance closing in on 60% — its highest level since April 2021. BTC’s impressive performance has been spurred by sky-high demand for spot Bitcoin ETFs.

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💰Hacker Returns $19 Million Stolen from U.S. Government

The hacker suspected of stealing $20 million from the U.S. government returned 96.5% of the funds in question. The remaining $700,000 worth of assets were sent to centralized exchanges.

🏎️Lamborghini Taps Base For Revuelto NFT Mint

Base, the booming Layer 2 from Coinbase, will host Lamborghini’s upcoming NFT mint. The news comes as Base leads the L2 ecosystem by DeFi TVL, active users, and transaction count.

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🪂Mantle-based mETH Protocol Announces Oct. 29 Airdrop

Mantle will airdrop COOK tokens to users of its mETH liquid staking token on Oct. 29. Mantle will then launch its cmETH restaking token on the following day.

🎮Web3 Game Off the Grid Attracts Sustained Activity

Off The Grid, an Avalanche-based battle royale game, is host to half a million active users. The game’s developer, Gunzilla, has raised more than $100 million since its November 2020 seed round.

🚀Altcoins Lag as Bitcoin Flirts With $69,000

Despite the strong showing from the world’s most valuable cryptocurrency, most of the Top 100 digital assets by market capitalization are flat or down on the day, with ETH up 0.6% and SOL and DOT dropping 1%.

🌍 ELSEWHERE

• Solana's Phantom wallet faces downtime, causing inaccurate account balances for users during anticipated GRASS airdrop (The Block)
• BIS partners with central banks to tackle cross-border compliance with Project Mandala (CryptoSlate)
• Hong Kong Exchanges and Clearing to Launch Crypto Index in November (CoinDesk)

🔥TRENDING

• Bitcoin Dominance Reaches Highest Level Since 2021
• Hacker Returns $19 Million Stolen from U.S. Government
• Mantle-based mETH Protocol Announces Oct. 29 Airdrop
• Crypto Markets Trade Sideways as ETF Demand Hits Six-Month High
• Web3 Game Off the Grid Attracts Sustained Activity
• Lido Greenlights Permissionless Ethereum Staking With 2.4 ETH Collateral