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  • 10/2/24: The Return Of The Kitty 🐱🪶🗄️

10/2/24: The Return Of The Kitty 🐱🪶🗄️

Top News

  1. CryptoKitties returns as Telegram “play-to-eggdrop” game

  2. Robinhood introduces crypto deposits/withdrawals in Europe

  3. Bitwise files for spot XRP ETF with Form S1

Specs’ Insights

1. CryptoKitties returns as Telegram “play-to-eggdrop” game

⌐◪-◪ → CryptoKitties is back! They just launched a new game on Telegram called "All The Zen," where players hatch eggs to birth Kitties, earn "Zen," and spend it on in-game upgrades.

This game marks the first official product launch for CryptoKitties since 2017, leveraging Telegram's recent growth in gaming. Unlike other popular Telegram games using The Open Network (TON), Dapper Labs will use Flow, their own blockchain designed to handle the congestion issues like the one CryptoKitties infamously faced back in the day.

Not gonna lie, seeing CryptoKitties return is pretty exciting — it was my first NFT after all. With that said, there is something that feels off to me about the Telegram gaming market. Feels like it's full of bad games with heavy financial incentives, creating plagues of bots — maybe CryptoKitties nostalgia combined with what’s (hopefully) a good game will prevail.

2. Robinhood introduces crypto deposits/withdrawals in Europe

⌐◪-◪ → Crypto is going mainstream. Robinhood is now allowing crypto deposits and withdrawals for customers in the European Union, with support for 20 popular cryptocurrencies off the bat.

This is a pretty big deal — Robinhood is the app of choice for the next generation of investors thanks to the app’s world-class UI/UX, and now every single one of them can move on/off chain with ease. The next generation of finance is about to be ultra fluid.

This feature is a big step towards making self-custody easier for European users and aligns with the new MiCA regulations that provide a clearer framework for crypto. Meanwhile, many U.S. exchanges, including Coinbase and Kraken, are doubling down in Europe as regulations back home grow stricter — but now Robinhood has a strong foothold.

Looks like the race for the European crypto market is heating up.

3. Bitwise files for spot XRP ETF with Form S1

⌐◪-◪ → Bitwise has taken the first step towards launching an XRP Exchange Traded Product (ETP) by filing a Form S-1 with the SEC. The launch of the ETP is pending effectiveness of this form, along with approval of a subsequent Form 19b-4 filing.

The CEO of Bitwise, Hunter Horsley, emphasized their belief that blockchains will usher in new, apolitical monetary assets, and said they are excited to help investors access these opportunities. Bitwise has been at the forefront of creating crypto-related financial products, and this move signals an increasing effort to make XRP more accessible through traditional finance channels.

This filing isn’t just a standard move; it’s a calculated step that reflects Bitwise’s belief in XRP’s potential. With the market still divided over Ripple’s regulatory challenges, Bitwise's strategic timing may pay off if regulatory clarity improves, positioning them as an early player in a newly accessible space for mainstream investors.

Everything Else

⛓️ Crypto & DeFi

  • Uniswap generates $53M in revenue since 0.25% fee increase

  • AAVE V3 surpasses $10B TVL DeFi resurgence gains momentum

  • World Liberty Financial says thousands signed up within first day

  • Hyperliquid whale loses $14M Bitcoin in massive long liquidation

  • Telegram has been disclosing user IPs since 2018 says Durov

  • Coinbase to list DEGEN token after adding Jesse Pollak to executive team

  • Justin Sun receives $8.75M from EigenLayer airdrop

  • Pike Finance investors criticize project for only providing $10k liquidity

  • SUI hits 6-month high as bridge goes live on mainnet

  • Crypto hackers steal $750M in Q3 across 155 incidents

🏦 Wallstreet & VC

🏛️ Legal & Regulatory

  • DeFi leaders write letter inviting Kamala to discuss crypto policy

  • Indiana man pleads guilty to stealing over $37M crypto in “cyber intrusions”

  • Diddy hires Sam Bankman-Fried’s new lawyer

  • NewRays mining firm sues judge for selective enforcement of noise complaint

🌎 Rest Of The World

🖼️ NFTs & Metaverse

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