Everything web3, crypto, defi, degen
In brief Former California Assembly majority leader Ian Calderon has vowed to put Bitcoin on California’s balance sheet and back crypto payments for state programs as part of his bid for governor. Calderon previously pushed blockchain policy through AB 2658 and worked with the Satoshi Action Fund. Current bills, AB 1180 and AB 1052, stop…
In brief SBF’s verified X account posted “gm” Tuesday evening despite prison restrictions on internet use. FTT token surged 32% following the tweet, with volume climbing from $10.4M to $59M. The FTX estate has filed a $1.1 billion lawsuit against Genesis Digital and plans to distribute $1.6 billion to creditors by September 30. On Tuesday…
In brief Chinese regulators have reportedly given informal guidance to brokers to halt tokenization activity offshore. Hong Kong is pushing ahead with stablecoin licensing and its broader digital asset push. Observers see a temporary cooling period, not a reversal of institutional demand. China’s securities regulator has reportedly instructed some brokerages to pause their real-world asset…
In brief Crypto industry veteran Michael Alfred is joining the board of Bakkt, a provider of digital asset services. The company’s share price jumped more than 40% on the day. Bakkt has been looking to reposition itself in recent months, including with plans for a potential Bitcoin treasury. Bakkt Holdings’ share price jumped past analysts’…
In brief BitMine Immersion now holds 2% of the total ETH supply following its latest buy. The Nasdaq-listed Bitcoin miner pivoted to a Ethereum-buying strategy in May. Its stock was trading lower on Monday following the ETH buy and a stock sale. Nasdaq-listed Bitcoin miner BitMine Immersion bought more Ethereum last week, bringing its total…
In brief Kaia and LINE NEXT have announced Project Unify, a stablecoin-powered app inside LINE Messenger, which has nearly 200 million users in Asia. The app will launch in beta later this year, offering payments, remittances, yield services, and access to more than 100 decentralized applications. Plans include support for regional stablecoins from the yen…
In brief Arc is a blockchain built by USDC issuer Circle for stablecoin-focused applications. It uses USDC for gas, features a built-in FX engine, and enables opt-in privacy. Public testnet is expected later this year, with a mainnet beta planned for 2026. Circle, the company behind the USDC stablecoin, has launched a new blockchain platform…
In brief The FTX Recovery Trust has announced its third distribution to former clients of the bankrupt exchange. A total of $1.6 billion will be repaid to creditors this time. The FTX brand went bankrupt in 2022 after it was criminally mismanaged. Creditors of collapsed crypto exchange FTX will receive $1.6 billion at the end…
In brief Rekt Brands sold its 1 millionth can of its Rekt Drinks flavored sparkling water. The Web3 firm collaborated with payments infrastructure company MoonPay on a peach-raspberry flavor called “Moon Crush.” Rekt incentivizes purchasers of its drinks with the REKT token, which hit an all-time high market cap of $583 million in August. Web3…
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.GM!Today’s top news: Crypto majors retreat after post-FOMC rally; BTC -1% at $116,300 Joe Lubin confirms MetaMask token coming “very soon” Plasma sets mainnet debut…
