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September 20, 2024

👀 Token2049 Recap

Together with

the-defiant

GM Defiers!

We take you behind the scenes of the Token2049 conference in Singapore. The event featured several prominent product announcements, including Solana Mobile’s web3 phone, Seeker, BitGo’s USDS stablecoin, and MakerDAO launching its new dApp and tokens.

Signature Bank’s bankruptcy filings reveal the firm shut down after being pressured to dramatically roll back its services to crypto firms, not insolvency.

Markets rallied on Friday after the Bank of Japan left its benchmark interest rate unchanged. Ethereum jumped 4%, Polkadot dipped 1%, and Solana gained 2%.

Ethereum’s core developers are preparing to split its forthcoming Pectra upgrade into two forks.

Plus, Polkadot ships its Agile Coretime upgrade, SynFutures launches leveraged futures for election predictions, SAGA surges 75% as alt L1s rally, and Cambria announces Ronin expansion.

✍️ In today’s newsletter:

  • Token2049 comes to a close
  • Silvergate blames regulators for bankruptcy
  • Markets end the week in the green
  • Ethereum’s Pectra fork split in two
  • Polkadot’s 2.0 roadmap progresses
  • SynFutures launches election futures
  • SAGA surges 75% in seven days
  • Cambria to expands onto Ronin Network

🙏Sponsored

📈 Markets in the last 24 hrs:

🎬WATCH

Check out our podcast with Joe Lubin, co-founder of Ethereum and Consensys, to get his take on the future of Ethereum, Layer 2s, and web3 regulation.

Watch our interview with Kendall Cole, the co-founder of Proximity Labs, a research team focused on Near Protocol, for the latest news on Near’s AI pivot.

THANKING OUR NEWSLETTER SPONSORS

| NEWSLETTER CONTINUES BELOW |

the-defiant

Goat Network is the first BTC L2 to offer sustainable BTC yield

the-defiant

DIA launches ‘Lumina’ – a brand-new trustless oracle network. Its modular, rollup-based design enables the verifiable sourcing and delivery of any data to any blockchain. Fully decentralized and permissionless.

🇸🇬 Token2049 Roundup: Solana Seeker, BitGo Stablecoin, and More

the-defiant

Multiple prominent Web3 teams made new product announcements during the Token2049 conference in Singapore. Notable examples include Solana Mobile unveiling its second web3 phone, Seeker, BitGo announcing it will enter the stablecoin market in January, and TON Foundation teaming up with ride-hailing app, Tada.

🚨 Silvergate Bank Shut Down Because Of Operation Choke Point 2.0, Not Insolvency

Silvergate’s bankruptcy filings blame U.S. regulators for its failure last year. Silvergate said it weather an $8 billion run on its reserves, but regulators demanded heavy restrictions on its operations servicing crypto firms, killing its business model.

📈Bitcoin and Ethereum Surge after BoJ Leaves Interest Rates Unchanged

Cryptocurrency markets rallied on Friday morning following dovish signals from Japan's central bank. Among the top 100 cryptocurrencies, Sui (SUI) led gains with a 13% surge, followed by Aptos (APT) and Bittensor (TAO), which are up 12% and 11%.

🍴 Ethereum’s Next Pectra Upgrade To Take Place Over Two Forks

Ethereum’s developers confirmed that its next Pectra upgrade will take place over two forks during the latest All Core Developers Consensus call. Pectra will prime Ethereum for verkle trees, improve staking functionality and EVM execution, and introduce smart account features to conventional EOA wallets.

🆕 Polkadot Introduces Agile Coretime to Enhance Network Efficiency

Polkadot is making progress on its 2.0 rollout, with the project launching Agile Coretime. The feature introduces an auction mechanism allowing projects to rent the network’s computational resources.

🗳️ SynFutures Launches Leverages Perps Tracking Polymarket Election Markets

SynFutures launched futures contracts allowing traders to bet on the outcome of the U.S. presidential election with up to 10x leverage. The contracts track the odds created by Polymarket’s election markets.

🚀 SAGA Rallies 75% as Altcoin Market Recovers

Saga Network’s SAGA token is up 75% over the past week. The bullish momentum comes as alt Layer 1 networks are staging a comeback.

🎮 Runescape-Inspired MMO Cambria Announces Expansion to Ronin Network

Cambria, a Runescape-inspired massive multiplayer online game, is expanding from Blast onto Ronin. The news comes as Ronin is looking to grow its gaming ecosystem beyond Axie Infinity.

🌍 ELSEWHERE

  • Consensys Suit Against U.S. SEC Dismissed by Texas Court (CoinDesk)
  • German authorities shut down 47 exchanges, some using crypto, to facilitate money laundering (The Block)
  • MicroStrategy Buys $458.2 Million Bitcoin From Debt Offering (CoinGape)
  • BNY Identified as First Bank to Receive SEC Exemption From SAB 121 (Unchained)

🔥TRENDING