Everything web3, crypto, defi, degen
In brief Switzerland allowed Backed to avoid whitelisting xStocks. Tokenized Tesla shares have the largest supply. xStocks have roughly 30,000 unique holders. Balancing compliance needs against the open and accessible nature of decentralized finance ultimately brought Backed Finance to Switzerland, according to co-founder Adam Levi.The company was registered in the European nation because it allowed…
In brief China’s Nvidia ban marks a turning point in the AI war, as Huawei and local players step into the spotlight. Beijing’s move signals confidence in homegrown chips, and could force tech giants to rewire their AI stacks overnight. The move comes after several efforts from the United States to prevent China from having…
In brief Myriad traders are betting on whether Jerome Powell will wear a purple tie at the September FOMC press conference—odds heavily favor Yes. Purple has become Powell’s signature color, signaling the Fed’s commitment to neutrality over partisan “red vs. blue” politics. The quirky market highlights how prediction platforms are moving beyond rate calls to…
In brief The amended complaint claims TaskUs’s India operations were at the center of a coordinated bribery scheme to steal customer information. Plaintiffs allege the company concealed the breach, firing investigators and failing to disclose details in securities filings before a $1.6 billion Blackstone buyout. Coinbase reimbursed affected users, tightened controls, and ended its relationship…
In brief Pump.fun pays token creators a percentage of every trade placed on their meme coin, leading the devs to do weird things to boost its price. From a man pouring coffee over himself to a spinning egg, the platform has it all at the moment. It’s led believers in Pump,fun to hail the dawn…
In brief The U.S. conducted two recent strikes on alleged Venezuelan drug trafficking vessels, killing 14 people total and escalating tensions with President Maduro. Bitcoin remains relatively stable at $115,018 despite the geopolitical turmoil, though analysts warn traders to monitor resistance and support levels closely. Prediction markets show 90% of traders expect a 25-basis point…
In brief LimeWire has bought the notorious Fyre Festival for $230,000 and the team is planning on putting a crypto spin on the brand. Julian Zehetmayr, CEO of LimeWire, told Decrypt there are plans to somehow use the LimeWire token and possibly NFTs for old ticket holders. He warned there are no exact plans. The…
In brief The U.S. Senate confirmed Stephen Miran to the Federal Reserve’s Board of Governors in a 48-47 vote on Monday. Miran has a history of supporting deregulation and favorable views on crypto. The Democrats have warned of a conflict of interest with his White House role. The U.S. Senate voted 48-47 on Monday to…
In brief Altcoin open interest has jumped to $38 billion, closing in on Bitcoin’s $40 billion and topping Ethereum’s $30 billion, signaling heightened speculative activity. Experts warn the leverage buildup could spark liquidations if the Fed’s expected rate cut triggers a shift in sentiment. Political pressure on Chair Jerome Powell and signs of elevated implied…
In brief Google’s Gemini to #1 in app downloads this month and Search interests this week. This is the first time Gemini app dethrones ChatGPT. This also helped boost Google’s valuation to beat $3 trillion, just behind Nvidia, Apple and Microsoft. Google’s Gemini app hit the top of the Apple App Store on September 15,…
