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The R Roundup: Bitcoins Happy Hour⏰ - Issue #112

The R Roundup: Bitcoins Happy Hour⏰ - Issue #112

Issue #112 : Web 3 News Headlines Of The Week

The R Roundup
October 29, 2023

The R Roundup: Bitcoins Happy Hour⏰ - Issue #112

In a sudden twist, BlackRock's Bitcoin ETF, iBTC, has been removed from the Depository Trust and Clearing Corporation (DTCC) list, quelling hopes of an imminent spot Bitcoin ETF launch.

Analysts had raised expectations earlier this week, but the DTCC's decision to remove iBTC has left the market in suspense. Despite the setback, Bitcoin managed to recover, trading above $34,500.

The removal followed BlackRock's brief appearance on the DTCC list, sparking excitement in the market. While industry experts anticipated a swift approval, the abrupt removal has left experts puzzled. BlackRock declined to comment, citing ongoing compliance with SEC filing restrictions.

The SEC's stance on Bitcoin ETFs remains uncertain, with Grayscale's application also under review. The public comment period for BlackRock and other Bitcoin ETF applicants is still active, adding to market tension.

The iShares Bitcoin Trust has been listed on the DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the ticker will be $IBTC. Again all part of the process of bringing ETF to market.. h/t @martypartymusic
— Eric Balchunas (@EricBalchunas)
Oct 23, 2023

It's crucial to note that appearing on the DTCC list doesn't guarantee regulatory approval, as clarified by a DTCC spokesperson. Investors are now eagerly awaiting further developments, seeking clarity amid the ongoing regulatory ambiguity surrounding Bitcoin ETFs.

dYdX Launches Mainnet 🚀

dYdX Chain has unveiled its alpha mainnet on a standalone Cosmos Layer 1 blockchain, ushering in a new era for decentralized derivatives trading.

This launch signifies a significant shift to dYdX version 4 and its community-driven blockchain, marking a monumental milestone for the platform.

The dYdX Foundation's CEO, Charles d’Haussy, expressed the community's excitement, stating:

❝

"After years of development, the dYdX Chain has been officially launched, heralding a new era of complete decentralization."

dYdX Foundation's CEO, Charles d’Haussy

Powered by Cosmos SDK, the alpha version introduces an independent blockchain tailored to meet the project's unique needs, following the recent release of its open-source code.

We’re sooooooo back baby !!
This week we released the dYdX Chain code and saw over $9bn in 7 day trading volume on v3 😎
— dYdX (@dYdX)
Oct 27, 2023

This phase primarily focuses on stress-testing the network, with plans to onboard over 60 validators for enhanced security. Subsequent phases, contingent on community governance votes, will pave the way for full-scale trading on the platform.

Solana Labs’ Startup Incubator 🌞

In a bold move to revolutionize the world of blockchain technology, Solana Labs has launched an enticing startup incubator.

With a whopping $314 million backing from a private token sale, Solana Labs aims to lure startup founders and builders into choosing Solana as their ultimate blockchain destination. Emon Motamedi, Product Manager at Solana Labs, emphasized the vital role of such programs in the evolving Web3 landscape, acknowledging the challenges faced by blockchain startups.

1/ Applications are now open to the Solana Incubator! If you're aiming to create the next great company in Web3, we're here to build alongside you. Get hands-on engineering, go-to-market, and fundraising support from the Solana Labs team. 👉
— Solana Labs (@solanalabs)
Oct 26, 2023

This initiative, part of a series of efforts to boost Solana's network growth, not only includes hackathons and AI accelerators but also seeks to persuade developers to swap their current blockchain affiliations.

While competitors like Aptos invest in similar strategies, Solana's focus on attracting talent from other chains showcases its commitment to pushing the boundaries of blockchain innovation.

FTX & Alameda Sell-A-Thon 🔻

As the SBF trial beings to heat up, some interesting movement have been identified by on-chain sleuths.

Less than 3 days ago, it was highlighted that FTX/Alameda cold storage wallets began selling large numbers of tokens ranging from $RNDR, $COMP, $SOL & more.

Crypto investors have been concerned about the contagion of the FTX lawsuit regarding the knock-on effect for tokens they are still holding & fears spiked as the market began indicating signs of bullish sentiment.

Over the next few weeks, many tokens are expected to be moving from FTX/Alameda wallets which is certainly something to keep an eye on.

FTX Cold Storage #2 transferred $469,587 $SOL ($15.2M) out 7 hours ago, of which 250K $SOL($8.1M) was transferred to exchanges.
170K $SOL($5.5M) was transferred to #Binance, and 80K $SOL ($2.6M) was transferred to #Coinbase.
— Lookonchain (@lookonchain)
Oct 26, 2023

A Week At RR📆

Check out this weeks content published to stay up to date with the latest research trends & crypto talking points👇

Solana's Leading DeFi Protocol, Marinade Finance, Implements Geo-Block

In a surprising turn of events, Marinade Finance, Solana's largest decentralized finance (DeFi) protocol, has initiated geo-blocking measures for users in the United Kingdom.

www.therroundup.com/p/rrupdates-solanas-leading-defi-protocol-marinade-finance-implements-geoblocking-amidst-regulatory-co

RRUPDATES📍: MaestroBots Swift Response - Refunding Users 610 ETH After Router Exploit 🤖

In a commendable move, Maestrobots, the cryptocurrency bot group on Telegram, swiftly responded to a security breach, refunding users a substantial sum of 610 ETH after a recent exploit.

www.therroundup.com/p/rrupdates-maestrobots-swift-response-refunding-users-610-eth-router-exploit

dYdX Chain Implements Fee Distribution System to Empower Validators an

DYdX Chain has revealed its decision to distribute all network fees directly to its validators and stakers, marking a significant shift for the decentralized derivatives platform.

www.therroundup.com/p/rrupdates-dydx-chain-implements-fee-distribution-system-empower-validators-stakers

RR Files🗂️

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Avalanche Growth & Catalysts
Everything is up, the market is green, and we might finally start to reap the benefits of our work.
That’s also the case for @avax.
They have been building during the Bear Market and are well positioned for the future upside movements to come.… twitter.com/i/web/status/1…
— Shiro (@CryptoShiro_)
Oct 26, 2023

Yuga Labs v. Ryder Ripps et al - Notes from the Court's Findings of Fact and Conclusions of Law
Yuga is awarded $1,375,362.92 in Ds profits, $200,000 in statutory damages, and attorneys' fees and costs (amount TBD). A permanent injunction is also issued against Ds.
🧵 1/
— NeerMcD.eth 🚀 (@NeerMcD)
Oct 26, 2023

LSDfi: The Profitable Narrative for Bull Market Investors
However, only a select few projects will be capable of demonstrating growth of 10 to 15 times.
Today, I have prepared a review of the LSDfi ecosystem tokens for low-risk investments.🧵
— ❄️ Wist 🦇🔊 (@wist_defi)
Oct 26, 2023

A list of internet-native communities 👀
— KAF (@kafcrypto)
Oct 27, 2023

Bitcoin is #18 out of 180 currencies
and it’s the only that can’t be inflated
— Crypto Tea (@CryptoTea_)
Oct 26, 2023

Did you know? 🤔
Etherscan currently supports a simple display of ERC-4337 Account Abstraction transactions
Let's delve into how ERC-4337 transactions are executed on Ethereum 🧵
— Etherscan (@etherscan)
Oct 26, 2023

As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies.

This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.

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