Mind The Block | October Week 1

Mind The Block: Your Weekly Dose of Web3 News and Insights

Mind The Block Headlines This Week

• Ripple partners with Mercado Bitcoin, Latin America’s largest exchange
• Bybit expands Launchpool with ecosystem token pools, including SUI
• UN report: Southeast Asian criminals use Telegram for crypto fraud
• Morocco invests $1B in AI and blockchain for digital economy
• Solana founder Yakovenko reveals secret to meme coin dominance
• Ubisoft launches NFT collection for Captain Laserhawk
• SUI price nears all-time high of $2.18: what’s next?
• What is the NFT marketplace? The Ultimate Guide 2024

News

• Ripple has partnered with Mercado Bitcoin, Latin America’s largest crypto exchange.
• Arkham Intelligence now supports Pay-to-Public-Key (P2PK) script addresses, allowing users to access the earliest Bitcoin transactions.
• Singapore’s StraitsX has listed its first dollar-backed stablecoin, XSGD, on Bitstamp, enabling seamless global cross-border payments.
• EigenLayer team faces fallout from unapproved selling activity linked to wallet unloading $5.5 million EIGEN tokens.
• HBO’s upcoming documentary, Money Electric: The Bitcoin Mystery, will explore the identity of Bitcoin creator Satoshi Nakamoto.
• Mayor Ward Roddam of Rockdale, Texas, believes bitcoin mining is a digital oil well fueling the economic revival of rural Texas.
• Band Protocol has successfully integrated its push-based Oracle on Sonic testnet, enhancing the functionality and reliability of decentralized applications.

Extras By Mind The Block

• GalaChain is utilizing Hyperledger Fabric to enhance its blockchain capabilities.
• RedStone, backed by Arrington Capital, has launched Bitcoin staking oracles to improve DeFi protocols on Ethereum, Avalanche, and Polygon.
• GPT Protocol and ApeBond have launched the first AI-centric decentralized exchange, Neuraswap.
• Babylon plans to increase BTC limits in the ‘Cap-2′ round, allowing users to stake up to 500 bitcoins per transaction over 10 Bitcoin blocks.
• MetaNova Verse has introduced groundbreaking innovations in Layer 1 chain protocol and ecosystem.
• Fireblocks has integrated IOTA EVM, an open-source distributed ledger, to enhance the developer experience for institutional users.
• BabyDoge and Alltoscan are partnering to revolutionize the blockchain experience.
• Nimiq has launched a pre-staking campaign for $NIM holders, preparing to transition to Proof-of-Stake (PoS).
• Infinex has partnered with Wormhole to improve cross-chain functionality and support multichain expansion after a $65.3 million NFT sale.
• Velar Dharma, a Bitcoin-based Layer-2 trading protocol, is partnering with Bitcoin ecosystem wallet Xverse to enable seamless digital asset swaps.
• Three crypto airdrops for the second week of October: Here’s what to know.
• Raisebase will release an update to improve the experience and efficiency of participating in any investment DAO or syndicate.
• DEXPro has announced a major upgrade, integrating four new blockchain networks: 0xMantle, FantomFDN, LineaBuild, and ton_blockchain.

Major Companies Making Moves

• Bybit has expanded its Launchpool platform by introducing ecosystem token pools, including the SUI pool.
• 21.co and Crypto.com are partnering to improve liquidity for wrapped Bitcoin (21BTC) using Crypto.com’s extensive liquidity pool.
• PayPal has completed its first corporate transaction using its stablecoin, Paypal USD (PYUSD).
• Sygnum Bank introduces a web3 wallet recovery module built on Safe, aiming to make self-custody wallet recovery reliable and user-friendly.
• Telegram plans to support TON-based NFT gifts later this year.
• Dubai’s DMCC Crypto Centre has partnered with Cointelegraph to establish a regional office.

Government, SEC & Regulation

• The U.S. Supreme Court has declined to hear a case involving 69,370 Bitcoin, valued at $4.38 billion, seized from the Silk Road dark web marketplace.
• The UN report reveals Southeast Asian criminal networks increasingly use Telegram for crypto fraud and money laundering.
• New York’s financial regulator is hiring a senior blockchain analytics analyst to tackle financial crimes in the crypto industry.
• The IMF has advised El Salvador to narrow its bitcoin law, strengthen regulation, and limit public sector exposure.
• BRICS nations are considering integrating cryptocurrencies XRP and XLM into their financial framework to reduce reliance on the U.S. dollar
• 21Shares has called for a unified regulatory framework for crypto inclusion in investment products.

• The Russian Energy Ministry plans to disconnect crypto miners from energy grids during energy shortages.
• South Korea’s military probe into soldiers using their passwords as loan collateral for crypto has revealed 29 more security breaches.
• UAE announces tax exemption for cryptocurrency transactions starting November 15, 2024, attracting investors and institutional players seeking tax-friendly environments.

• The Hong Kong SFC plans to approve more cryptocurrency exchange licenses by year-end, with HKVAX being the latest to receive approval.
• The National Bank of Bahrain has launched its first Bitcoin investment fund, designed for institutional investors in the Gulf Cooperation Council.
• The European Blockchain Sandbox Initiative (EBSI) has attracted 40+ members, including 41 regulators and 22 countries from the EU and European Economic Area.

Raises & Major Investments rounds

• Morocco is investing over $1 billion in AI and blockchain to revitalize its digital economy, following the example of other African countries.
• Cryptobiometric sybil-resistant L1 for the web Humanode launches $10M ecosystem funding program, supported by Republic Crypto, Big Brain Holdings.
• Layer, a crypto startup, raised $6 million in a seed round to create developer tools for full-stack decentralized applications on Ethereum.
• Multiplayer action RPG Moonray raised $4.75M in a funding round from Animoca Brands, P2 Ventures (Polygon Ventures), and Cardano.
• LAYER raised $6M in a Seed funding round led by 1kx, with participation from Fabric Ventures, IOBC Capital, Sreeram Kannan, and Paul Taylor.

Trends & Narrative

• De-Capital is breaking traditional VC inequalities and building a new Web3.0 venture capital ecosystem.
• XDC Network, a decentralized trade finance platform, revolutionizes global trade with fast transactions, smart contracts, and energy-efficient features.
• ECB executive board member Piero Cipollone proposes a unified European ledger for digital assets to create a digital capital markets union.

• Web3 technology transforms brand engagement, offering transparency, ownership, and decentralization.
• FBS analysts have released a new analysis on the impact of US interest rate cuts on the cryptocurrency market, focusing on Bitcoin.
• Solana founder Anatoly Yakovenko revealed the secret behind meme coin dominance in the crypto market.

NFTs, Gaming, Metaverse

• GR1D has launched its first web3 gaming credits on Amazon, offering 10 credits for redemption for rewards from over 100 partnered games.
• Ubisoft has launched a new NFT collection for its web3 multiplayer title, Captain Laserhawk: The G.A.M.E.
• XAI Games, a decentralized forum built on Arbitrum, has partnered with Novadash and Spiral DAO to introduce Liquid Locker.
• Epic Games CEO Tim Sweeney plans to create an interoperable metaverse using Unreal Engine 6.
• Aethir and XPLA have launched a $10 million grant program to support AI-driven web3 games, leveraging their respective expertise and financial resources.
• Former First Lady Melania Trump plans to expand her Web3 and NFT initiatives to support foster children upon her return to the White House.
• Onchain Heroes, a blockchain-based RPG, is set to launch on Abstract, a consumer-focused blockchain developed by Igloo Inc., in Q4 2024.
• Astra Nova, a leading web3 gaming project, has partnered with Saudi Arabian company Hawk Gaming Group.

Onchain Data

• Sui, a Layer-1 protocol blockchain, is nearing its all-time high of $2.18, gaining over 134% in the past month.
• Arbitrum has formed an ascending triangle pattern with strong resistance at $0.62.
• JASMY surged 500%, reaching $0.045 despite setbacks, indicating bullish momentum and potential future price targets.
• Render’s price dropped to $5.31 amid market volatility, with the RSI reading above 41 since August.
• Celestia (TIA) has surged by 21% in four days, indicating potential for further upward momentum.

Educational Guides and Tips from Mind the Block

• What is the NFT marketplace? The Ultimate Guide 2024.
• Where to get started withCoinbase’s cbBTC.
• What is the Fantom Crypto Sonic upgrade?
• Apr vs. Apy: What is the difference between Apr and Apy?

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