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Perpetual DEX dYdX [DYDX] has laid off 35% of its staff
dYdX Trading $DYDX, the company behind the decentralized derivative platform, has laid off 35% of its staff. CEO Antonio Juliano recently rejoined the firm after a six-month sabbatical. He initially stepped away on May 13 due to personal and professional reasons.
The news comes on the day Ethereum development firm Consensys announced a 20% reduction in staff. Current $DYDX price is $1.04. Fully diluted market cap is $1.04B.
🔗 theblock.co/post/323612/dydx-trading-lays-off-35-of-its-employees-including-core-team-members
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Consensys is cutting workforce by 20% as CEO blames abuse of power by SEC
ConsenSys, a developer of MetaMask and Linea, is cutting over 160 employees across all divisions of the company. Founder and CEO Joe Lubin announced that attributed the layoffs to headwinds from the macroeconomy as well as legal expenditures from the company’s protracted battles with regulators.
Multiple cases with the SEC, including ours, represent meaningful jobs and productive investments lost due to the SEC’s abuse of power and Congress’s inability to rectify the problem
Clearpool’s L2 Ozean has announced a partnership with Ethena [ENA]
Ozean, a Layer 2 blockchain for RWA yield launched by Clearpool $CPOOL, has partnered with Ethena $ENA, a derivative infrastructure provider on Ethereum ($2.68B in TVL). Through this partnership, Ethena's USDe and sUSDe will be integrated into Oxygen (O2), the RWA liquidity layer on Ozean. $USDe & $sUSDe is also being introduced to Ozean’s upcoming Liquidity Generation Event (LGE), where depositors can earn extra rewards (Ethena Points).
Ozean, with its seamless integration of RWAs in a compliant and user-friendly manner, enables users to earn native yield on-chain automatically. Current $CPOOL price is $0.22. Fully diluted market cap is $224M.
🔗 clearpool.medium.com/introducing-ethenas-usde-susde-in-ozean-s-liquidity-generation-event-oxygen-2821617990fd
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Chainlink [LINK] launched Data Streams on Solana via GMX-SOLANA
Chainlink's $LINK Data Streams is available on Solana $SOL, featuring GMX-SOLANA as a launch partner. Through this launch, Solana devs now have access to high-frequency, sub-second market data backed by Chainlink's time-tested, decentralized infrastructure. Chainlink is a provider of real-world data to blockchains. Current $LINK price is $11.4. Current FDV is $11.4B.
🔗 x.com/chainlink/status/1850992279068283167
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Top Solana Protocols by Total Value Locked
The total value of assets locked in Solana $SOL is around $6.3B, according to DefiLlama.com. Let’s compare the top DeFi-protocols on Solana by current TVL in USD including Jito $JTO, Kamino $KMNO, Jupiter $JUP, Marinade $MNDE, Raydium $RAY, Sanctum $CLOUD, Drift $DRIFT, marginfi, Meteora, Orca $ORCA, and others in order to evaluate their adoption scale.
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Gelato [GEL] has raised $11M in a Series A+ funding round led by Hack VC
Rollup-as-a-Service platform Gelato has raised $11M in a Series A+ funding round led by Hack VC. Other investors in the round include Animoca Brands, IOSG Ventures and Bloccelerate VC. Gelato claims to support more than 500 applications, including Aave, Sky and Synthetix’s Infinex.
The latest round brings Gelato’s total fundraising to $23.2M, following an $11M Series A token sale round in 2021 led by Dragonfly Capital and $1.2M in earlier seed funding led by IOSG Ventures and Galaxy Digital. Current $GEL price is $0.14. Current FDV is $61.5M.
🔗 theblock.co/post/323265/gelato-raises-11-million-usd-unveils-kraken-layer-2-ink-as-customer
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FTX [FTT] has agreed to drop lawsuit against Bybit in $228M settlement
FTX $FTT has agreed to drop its lawsuit against Bybit in a settlement that would allow FTX to collect around $228M. The settlement will allow FTX’s liquidation estate to reclaim $175M in cryptocurrencies held on Bybit accounts.
FTX will sell Mirana (Bybit's investment arm) over 105M $BIT tokens valued at around $52.7M. Earlier this month, a U.S. bankruptcy court approved FTX’s reorganization plan to repay its creditors.
🔗 theblock.co/post/323199/ftx-agrees-to-drop-lawsuit-against-bybit-in-228-million-settlement
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Top Upcoming Events of the Next Week
We compiled a list of top important upcoming events of the next week (Oct 28th - Nov 3rd), including Hatom $HTM, Grass $GRASS, Ethernity Chain $ERN, Zyfi $ZFI, Aethir $ATH, Elixir Network $ELX, bitSmiley $SMILE, Zyfi $ZYFI, Celestia $TIA, Optimism $OP, Immutable $IMX, ZetaChain $ZETA, and Sui $SUI. Stay tuned!
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KIP Protocol [KIP] has announced a partnership with Seraphnet
KIP Protocol $KIP has partnered with SeraphNet, a decentralized base layer for generative AI apps. Through this partnership, KIP’s robust decentralized base layer with SeraphNet’s privacy-focused generative AI infrastructure. Projects aim to provide both developers and users with stronger data security, effortless scalability, and AI workflow automation.
KIP Protocol is an open-source Web3 framework designed to facilitate the creation, management and monetization of decentralized knowledge assets for AI applications. It has raised $5M in a funding round backed by Animoca Ventures, Tribe Capital, GBV Capital, Morningstar Ventures, DWF Ventures, and ZBS Capital.
🔗 www.kip.pro/blog-posts/revolutionizing-decentralized-ai-kip-protocol-partners-with-seraphnet
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Top 10 Blockchains by Total Value Locked in DeFi protocols
The total value of assets locked in DeFi-protocols across all the blockchains is around $76B, according to DefiLlama.com. Let’s compare the top blockchains by current TVL in USD, in order to evaluate their adoption scale.
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Top 7 Promising Projects with Anticipated tokens
With evolving blockchain technology and Bitcoin close to all-time high again, enormous amount of upcoming projects aim to reshape the global financial space. We compiled a list of highly anticipated projects, that should enter the market with a token in the near future: Sophon $SOPH, XION $XION, Particle $PARTI, Elixir $ELX, Grass $GRASS, Swell $SWELL and Zircuit $ZRC.
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Ankr [ANKR] has integrated with TON [TON] to help developers build apps for Telegram
Ankr $ANKR, a major Web3 infrastructure provider, has integrated with TON blockchain $TON. Through the integration, Ankr will provide a gateway for developers to build on the TON blockchain, allowing them to build dApps. By using Ankr's API service, developers will no longer need to deploy or maintain their nodes to access on-chain data and will be able to take advantage of an instant connection to TON blockchain. Current $ANKR price is $0.028. Current FDV is $280M.
🔗 theblock.co/post/322883/ankr-announces-ton-blockchain-integration-designed-to-help-developers-build-apps-for-telegram
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Skyfire has raised $1M in Strategic funding from Coinbase Ventures and a16z CSX
Skyfire secured new $1M in strategic funding from Coinbase Ventures and a16z Crypto Startup Accelerator (CSX). The fresh contribution increases Skyfire's total seed funding to $9.5M, up from its previous raise of $8.5M. That previous round saw participation from Neuberger Berman, Brevan Howard Digital, Intersection Growth Partners, DRW, Inception Capital, Arrington Capital, RedBeard Ventures, Sfermion, Circle and others.
Skyfire is a financial stack designed for the AI economy, offering an instant, global payment system for AI Agents. It currently runs on Polygon, but the team plans to expand to additional blockchains soon.
🔗 theblock.co/post/322742/coinbase-ventures-and-a16zs-csx-bring-skyfires-total-funding-raised-to-9-5-million
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Kraken plans to launch its blockchain next year
Crypto exchange Kraken plans to launch a blockchain early next year for dApps that allows for trading, borrowing and lending of tokens without intermediaries. The new digital ledger will use similar technology to Coinbase’s Base. Testnet where developers will be able to try apps for Ink, will start later this year, and the blockchain is expected to become open to retail and institutional users in the Q1 of 2025.
🔗 bloomberg.com/news/articles/2024-10-24/crypto-exchange-kraken-plans-to-launch-its-own-blockchain-early-next-year
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Variational has raised $10.3M in a Seed funding round co-led by Bain Capital Crypto and Peak XV Partners
Variational has secured $10.3M in a seed funding round co-led by Bain Capital Crypto and Peak XV Partners. Other investors in the round include Coinbase Ventures, Dragonfly Capital, North Island Ventures, and Hack VC.
Variational is an Arbitrum-based peer-to-peer crypto derivatives trading protocol. Variational's public mainnet is expected in the Q1 of 2025. The protocol's token is also scheduled for release next year.
🔗 theblock.co/post/322653/arbitrum-crypto-protocol-variational-funding
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Glif will airdrop 10% of GLIF total supply to points holders
Glif is set to launch its native GLIF token, with 100M (10% of total supply) tokens allocated for airdrop to eligible users. These tokens will be distributed 1:1 to GLIF points holders with at least 1 point, and any unused tokens will return to the community rewards pool.
Airdrop recipients can access 25% of their tokens immediately, while the remaining 75% will vest linearly over 180 days, mirroring the Filecoin network's block reward structure.
Optimism provides 25M OP token grant for Kraken to build Ink blockchain
Optimism Foundation has agreed to provide a 25M $OP token grant ($42.5M at current rate) to crypto exchange Kraken. The deal which was finalized around January or February, paved the way for Kraken to use Optimism’s OP Stack. The token allocation would be paid to Kraken in grants over a time period.
Recently, Kraken announced the launch of its layer 2 blockchain Ink next year. Testnet where developers will be able to try apps for Ink, will start later this year, and the blockchain is expected to become open to retail and institutional users in the Q1 of 2025.
🔗 coindesk.com/tech/2024/10/29/optimism-foundation-agreed-to-give-kraken-425m-of-op-tokens-in-layer-2-deal
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PumpBTC has raised $10M in a Seed funding round co-led by SevenX Ventures and Mirana Ventures
PumpBTC has secured $10M in a seed funding round co-led by SevenX Ventures and Mirana Ventures. Other investors in the round include UTXO, Mantle Ecosystem Fund, Seven Seas Capital, Istari Venture, Arcane Group, Coinsummer, Sharding Capital, and 10k Ventures.
PumpBTC is a liquid staking protocol on Babylon. Since its launch in July 2024, PumpBTC has attracted over 3,400 BTC in TVL (approximately $240M) and gained over 30,000 users.
🔗 medium.com/@Pumpbtcxyz/pumpbtc-raises-10m-seed-funding-to-build-a-new-standard-in-btc-yield-vaults-with-btc-fi-15de7cf26a82
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Top Exchanges by Liquidations in last 7 days
The vast majority of the casualties were long positions last days, with more than $1.25B liquidated in total. Let’s take a look at the top exchanges by liquidations of longs and shorts within last week, according to Coinglass.com.
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Alchemy Pay [ACH] plans to launch Layer 1 blockchain - Alchemy Chain
Alchemy Pay $ACH unveiled its launch plan for its Layer-1 blockchain built on a scalable Solana Virtual Machine (SVM) - Alchemy Chain. Alchemy Chain will integrate advanced Layer-2 solutions that enable seamless account mapping and data synchronization, minimizing redundant data storage and optimizing scalability. The launch of Alchemy Chain will also introduce two tools meme launchpad and meme Telegram bot.
$ACH will serve as the utility token of Alchemy Chain, allowing users to pay gas fees. Current $ACH price is $0.019. Current FDV is $192M.
🔗 xinwen.alchemypay.org/news-and-press/alchemy-pay-unveils-alchemy-chain-launch-plan-a-transformative-layer-1-blockchain-for-the-future-of-payments
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Top 7 Biggest Token Unlocks in the Next 7 Days
Monitoring of vested tokens and future unlock events is an important step to make more cautious and, in the end, better trading decisions. Let’s take a look at this and some other biggest unlocks coming in the next 7 days, including $TIA, $SUI, $OP, $IMX, $MAV, $PORTAL and $PRIME according to CryptoRank.io.
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bitSmiley [SMILE] has raised $10M in Round 2 funding
bitSmiley $SMILE has secured $10M in Round 2 funding. Investors in the round include NxGen, IBC Group, Pragma Ventures, Zephyrus Capital, MH Ventures, KuCoin Ventures, Cypher Capital, NewTribe Capital, Aegis Ventures and others.
Previously, bitSmiley conducted a public sale on People’s Launchpad. Token sale hardcap is $1,000 (for 210M $BIT, 1% of total supply). Token sale price is $0.0004762, at a $100K valuation.
Top 7 Crypto Fundraising Rounds of the Week
Let’s take a look at the top 7 biggest private crypto fundraising rounds completed in the previous week, backed by crypto venture investors including Blockchain Capital, BainCapital, Bitkraft, Wintermute, Peak XV partners and others.
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Top Blockchains by Number of Transactions in last 7 days
Let’s compare the top blockchains by number of transactions registered on-chain and average daily active addresses in last 7 days, according to Artemis.xyz, in order to evaluate their current adoption and performance.
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Bluesky has raised $15M in a Series A funding round led by Blockchain Capital
Bluesky has secured $15M in a Series A funding round led by Blockchain Capital. Other investors in the round include Alumni Ventures, True Ventures, SevenX, Amir Shevat (Darkmode), and Joe Beda (Kubernetes). Bluesky is building the AT Protocol, a new foundation for social networking that aims to decentralize online platforms. In 2023, it raised $8M in a seed funding round backed by Neo, Protocol Labs, Joe Beda (Kubernetes) and others.
🔗 bsky.social/about/blog/10-24-2024-series-a
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Binance Labs has invested in fitness accountability app - Moonwalk Fitness
Binance Labs has invested in Moonwalk Fitness, a fitness accountability app that combines gamification and financial incentives to promote healthier lifestyles. Moonwalk Fitness encourages users to hit daily step goals by staking USDC, SOL, or BONK. Users must either meet their crew’s step goal or maintain pace with the leader’s highest completed days to win.
🔗 binance.com/en/blog/ecosystem/binance-labs-invests-in-moonwalk-fitness-to-gamify-fitness-5853342758592100899
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GnosisDAO [GNO] is launching a $40M venture fund targeting RWA, crypto infrastructure and payments
GnosisDAO $GNO is launching a $40M venture fund to support early-stage projects under the Gnosis 3.0 roadmap. The GnosisVC fund has three areas of focus: real-world assets (RWA), crypto infrastructure and payment rails. For its part, GnosisDAO will invest $20M in the fund while the remaining half will come from external LPs.
The fund, which will be partially governed by GNO token holders, has already made preliminary investments in platforms like Monerium, the developers of the EURE fiat infrastructure — and decentralized AI startup Naptha AI. Current $GNO price is $215. Current FDV is $646M.
🔗 theblock.co/post/322895/gnosisdao-is-launching-a-new-40-million-venture-fund-targeting-real-world-assets-crypto-infrastructure-and-payments
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Genius has raised $6M in a Seed funding round led by CMCC Global
Genius, a non-custodial decentralized trading platform, has secured $6M in a seed funding round led by CMCC Global. Other investors in the round include Arca Fund, Ava Labs, SALT fund, Flow Traders, Psalion VC, Cadenza, Public Works, and others. Genius uses a protocol-managed liquidity model that ensures competitive rates and flexible swap sizes across multiple networks, including EVM-compatible chains, Solana, Bitcoin, Cosmos, and TON.
🔗 x.com/GeniusTerminal/status/1849105492754452559
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Party Icons has raised $9M in a Seed funding round led by Bitkraft Ventures
Party Icons, a Web3 mobile gaming platform with three playable modes, has secured $9M in a seed funding round led by Bitkraft Ventures. Other investors in the round include IDG Capital, Gam3Girl Ventures, Leap Capital, Mantle Network, King River Capital, Mask Network, Yield Guild Games, Zentry, 32-Bit Ventures, Ed3n Ventures, and Palm Drive Capital. With this round, Party Icons' total funding has reached $20M.
🔗 x.com/PartyIconsOGX/status/1849316208287375435
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Fluid Protocol has raised $3.9M in a Seed funding round backed by Animoca Ventures
Fluid Protocol has secured $3.9M in a seed funding round to launch USDF, the native stablecoin of Fuel network, a modular execution layer. Investors in the round include Bloccelerate, Animoca Ventures, CMS Holdings, Maelstrom, Veil VC, Builder Capital, Infinity Ventures, RockTree Capital, Wise3 Ventures, Stake Capital, Relayer Capital, and others.
Fluid Protocol is an over-collateralized, decentralized borrowing platform specifically built for Fuel Network. In addition to the seed capital, Fluid previously secured a direct investment and a grant from Fuel Labs.
🔗 x.com/Fluid_Protocol/status/1849082951574700366
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