Polymarket bets on the 2024 US election winner approaches $1 billion as it threatens to flippen the total Polygon TVL - 𝕏/@NPC_68
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Digital asset investment products saw a reversal, with inflows reaching $436m after a period of outflows amounting to $1.2bn.
Bitcoin was the primary focus, seeing $436m of inflows having seen a 10-day run of outflows totalling $1.18bn — link
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Barclays is exploring the use of a digital pound in the UK, focusing on merchant payments, securing delivery transactions, and ensuring interoperability with commercial bank money. - Cryptonews
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PSA, Delta Prime hacked on $ARB chain, it seems that admin private key compromised and pools drained, leading to an estimated $4.5M loss. - 𝕏/@CyversAlerts
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The Week Ahead | Q3 END | @infinityhedge
**A 36-hour monetary rollercoaster will start with the FED's probable decision to cut interest rates on Wednesday, and finish on Friday with the outcome of the BOJ’s first meeting since it raised borrowing costs and helped sow the seeds of a global selloff.
Macro:
*Lawsuit against TikTok ban set to begin on 16 [A court will hear arguments about whether the US GOV. can ban TikTok, based on evidence it doesn’t want anyone — including the social media company — to see]
*US: Fed Interest Rate Decision on 18 [25-vs-50 basis point rate cut discussion (50:50 odds, It is the first meeting in years where there's serious uncertainty about the rates decision)]
*Japan: Trade data on 18
*UK: BoE rate decision on 19
*US: Initial jobless claims on 19
*Japan: CPI on 20
*Japan: BoJ Interest Rate Decision 20
*China: loan prime rates on 20
*US Labor Department, BLS: State Employment & Unemployment, Monthly Report on 20
*US: GDP (QoQ) (Q2) on 26
*US: PCE on 27
Crypto:
*Trump's World Liberty Financial Project Launch on 16
*Sky [MakerDAO] to launch its new SKY governance token and USDS stablecoin on 18
*Terraform Labs's Chapter 11 bankruptcy reorganization hearing on 19
*Final SEC decision deadline for Bitcoin ETF Options is 21: infinityhedge
*Carolyn Ellison [former CEO of Alameda Research] is set to be sentenced on 24
*Hamster Kombat (HMSTR) TGE, Airdrop and exchange listings [Binance, etc] on 26
*Changpeng Zhao aka 'CZ' expected to release from prison on 29
*Uniswap v4's launch set for Q3
Events:
*Token2049 Singapore Event [18-19]: [Speakers: Vitalik Buterin, Charles Hoskinson, Anatoly Yakovenko, Richard Teng, Balaji Srinivasan, Snowden, Nic Carter, Eric Wall, Mert Mumtaz, Jason Choi, and Founders or CEOs: EigenLayer, Polymarket, Aave Labs, Ethena Labs, Electric Capital, infinityhedge?, Wintermute, DWF Labs, Circle, Chainlink, Monad, Render Network, Akash Network, Helium Foundation, Securitize, Polygon, NEAR, Curve, etc....
*Solana Breakpoint Event [19-21]
*European Blockchain Convention [25-26]
Token Unlocks: $700M-$800M [till month end]
⊷ ARB: $50M: 2.6% on 16
⊷ ID: $27M: 18.2% on 22
⊷ OP: $48.6M: 2.6% on 30
⊷ SUI: $70M: 3.2% on Oct. 1
**TIA: ~$850M: 83% of float on Oct. 30
**What Bloomberg Economics Says:
“We think Fed Chair Jerome Powell supports a 50-basis point cut. However, the lack of a clear signal from New York Fed President John Williams before the pre-meeting blackout period makes us think Powell doesn’t have the full committee’s support.”
Fed Funds Futures Now Show 58% Probability of 50bps Rate Cut, 42% for 25bps
Earnings/Charts/Articles ⬎
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This week will be the super central bank week. The United States will announce its interest rate decision and Fed Chairman Powell will hold a monetary policy press conference. Currently, CME shows that the probability of a 25bps rate cut is 41%, and 50bps rate cut is 59%. — link
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FBI: The FBI has responded to West Palm Beach Florida and is investigating what appears to be an attempted assassination of former President Trump
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Users lost more than $5.6B in 2023 through crypto-related fraud — a 45% jump from 2022: FBI
*People over 60 years old were most scammed, they lost ~$1.6B
*Investment scams were the most common, accounting for 71% of losses with 32k complaints & $3.9B loss
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TON hits record transaction highs post-Durov arrest while token price plummets 30% — link | tl;dr
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JUST IN: 🇯🇵 Japan's largest power company TEPCO is mining #Bitcoin using surplus energy ⚡️
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New article by Andre Cronje.
Unlocking an $11.3 trillion market on-chain for the first time. - 𝕏/@AndreCronjeTech
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Bernstein analysts forecast revival of defi yields amid expected us rate cuts, predicting a boost for crypto credit markets and ethereum interest. - The Block
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Napier Finance temporarily suspends the "Llama Race" points program pending development of v2, due to technical difficulties in implementing v1 - Medium
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BaseBros Fi, a DeFi protocol on the Base blockchain, vanishes after orchestrating a rug pull through an unaudited contract, stealing users' funds. - CoinTelegraph
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Magic Eden CEO says 2024 is the platform’s best year despite the NFT market slump, driven by its multi-chain strategy. - decrypt.co
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Binance will list Neiro (NEIRO), Turbo (TURBO), and Baby Doge Coin (100000BABYDOGE) for spot trading today at 18:00 (UTC+8) and will add the Seed Tag. The newly added spot trading pairs are: NEIRO/USDT, TURBO/USDT, and 100000BABYDOGE/USDT. —link
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An ancient whale who received 16,636 ETH from ShapeShift at $5.23 per ETH in February 2016, now began to sell ETH 8 and a half years later, and currently sold 350 ETH at $2,340, a price increase of 446x, according to @EmberCN. — link
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Binance shows that the ETH/BTC rate has fallen below 0.04, hitting a new low since April 20, 2021, temporarily reported at 0.03985. The rate reached a historical high of 0.1238 in January 2018 and a historical low of 0.01615 in September 2019. — link
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🟠 Companies have grown their #Bitcoin holdings by 587% over the past four years — River Financial
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NEW: 🟠 Holding ≥0.1 #Bitcoin puts you in the top 8.44% of all HODLers 💪
Keep stacking! 🫡
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Rabby releases GasAccount to simplify gas payments using USDT/USDC to pay gas fees on any network - 𝕏/@Rabby_io
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Ethereum LRT protocol Ether fi announced that it will launch a crypto Visa credit card Cash on Scroll Network. Ether fi Cash allows users to use fiat currency while using crypto assets as collateral, and can hold cryptocurrencies and earn interest on daily purchases. The card is currently in use within Ether fi and will begin shipping to pre-order customers on September 16. — link
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a16z Crypto announced the 21 startups to join Crypto Startup Accelerator (CSX) Fall 2024 cohort, including Anera Labs, Banyan, Blocksense, Cork Protocol, Fermah, Future Primitive, MeshMap, Term Labs, zkSpin and more. a16z CSX invests a minimum of $500,000 in each company that’s accepted. — link
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Lazy Summer protocol aims to onboard 100M users by offering passive DeFi earnings integrated into familiar apps. - lazy.summer.fi
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Kaiko: September is shaping up to be volatile. BTC’s 30-day volatility has spiked to 70%, nearly double last year’s levels and close to March’s peak when BTC hit its all-time high. ETH’s volatility has surpassed both March’s levels and BTC’s this September. This is notable because September volatility has historically been much lower than Q1. — link
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