🪙Florida Mulls Adding Crypto To Pensions

GM Defiers!

Florida’s chief financial officer wants to add digital assets to the state’s pension funds. Florida currently has $800 million of exposure to crypto.

World Liberty Financial, the Trump-linked DeFi project, has reduced its funding target by 90% from $300 million after facing low levels of participation. The project has raised roughly $14.5 million so far, less than 5% of its original target.

The looming U.S. presidential election is driving record-breaking activity on Polymarket, the top web3 prediction market platform. More than 200,000 punters placed $2.28 billion worth of wagers last month.

Bitcoin dipped for a third day as ETF inflows slowed down. ETH and SOL dipped 2%, while DOT was flat.

Also, CZ shares prison stories, and a college student launches FRIDGE memecoin between classes.

✍️ In today’s newsletter:

Florida CFO eyes upping state crypto holdings
WLFI funding total reduced by 90%
Polymarket volume surges past $2B in October
Crypto volatility triggers mass liquidations
Prison guards asked CZ for financial advice
Student launches FRIDGE from a smart fridge

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💰Florida May Increase Crypto Holdings From $800M If Trump Wins

Florida’s chief financial officer, Jimmy Patronis, said he will push to increase the state’s crypto holdings if Trump wins the U.S. presidential election. Patronis also asked Florida’s State Board of Administration to consider adding digital assets to the state’s pension fund.

🚀Monthly Polymarket Volume Soars To $2.28 Billion As Election Looms

Polymarket punters wagered more than $2 billion during October, beating out the previous monthly all-time high by 353%. While the lion’s share of activity was driven by election predictions, the platform’s non-election markets are also hosting record volume with more than $100 million per week.

⬇️Trumps’ WLFI Sale Target Slashed By 90% Amid Weak Demand

World Liberty Financial, the upcoming DeFi project linked to the Trump family, reduced its token sale target to $30 million from $300 million. The move follows low participation in the sale, with investors buying less than 5% of the initial WLFI allocation.

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❄️Student Launches Solana Memecoin from Samsung Fridge in Mall

FRIDGE, a memecoin that recently shot to a $9 million market cap, was created by an Australian university student between classes. Its creator told The Defiant they launched the token from a smart fridge located in a mall.

👀Binance Co-Founder CZ Returns to Spotlight After Prison Release

CZ, the co-founder of Binance, took the stage at Binance Blockchain Week in Dubai in his first public appearance following his release from prison. CZ highlighted that he was the first person to receive jail time for Bank Secrecy Act violations and reflected on his time behind bars.

📉Crypto Market Volatility Triggers $190M in Liquidations

Bitcoin dropped for a third day after the release of an abysmal U.S. payrolls report showing the country added only 12,000 jobs in October, far below the Dow Jones estimate of 100,000 and marking the slowest job growth since December 2020.

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Tether Reports $2.5B Profit in Q3, Holds Over $100B of U.S. Treasuries (CoinDesk)
Mt. Gox sends 500 bitcoin to two unmarked wallets: Arkham data (The Block)
Jito’s Successful Entry Into SOL Restaking Helps Push TVL to Record High (Unchained)