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- 11/1/23: Elon Is An On-Chain Maxi ⛓️🥷🏻🏛️
11/1/23: Elon Is An On-Chain Maxi ⛓️🥷🏻🏛️
Top News
⛓️ Elon Musk makes fun of NFTs that don’t encode JPEGs on-chain
🥷🏻 Onyx protocol, backed by JPMorgan, drained for $2.1M in exploit
🏛️ SBF’s defense has concluded; closing arguments to be made today

⌐◪-◪ → While Elon has a very valid point here, this is a pretty surface level insight that everybody was talking about (and fully exhausted) over 2 years ago during the 2021 bull market. With that said, it’s nice to see that his values are aligned with true decentralization and on-chain art. Meanwhile, Leonidas already inscribed Elon’s video clip into the Bitcoin blockchain.
⌐◪-◪ → Last week, JPMorgan flexed $1B in daily transaction volume on JPM Coin. Today, JPMorgan-backed Onyx suffered a major $2.1M exploit. I found it rather curious that the media neglected to mention JPMorgan’s ties to Onyx in today’s headlines and articles. The media clearly doesn’t want to be on JPMorgan’s bad side.
⌐◪-◪ → SBF’s credibility continued to decay during yesterday’s cross-examination as he claimed to be blissfully unaware of any/all major decisions — like spending $8B — at a company he owned & controlled. Check out Tiffany Fong’s second video for a final recap of SBF’s cross-exmiantion ahead of today’s closing arguments.

Peripheral Vision
⛓️ Crypto & DeFi
Mark Cuban says you’ll be saying “FUCK” for not buying NFTs early
Layer 2 usage has dropped by 32% over the last 6 weeks
Vitalik Buterin predicts a future of diverse and specialized L2s
Gateway FM smoothly transitions Palm mainnet to Polygon L2
Tron becomes the leading blockchain for stablecoin transfers
Ava Labs proposes Astra upgrade to improve Avalanche’s subnet
Tether touts highest ever percentage of cash in its reserves
Circle confirms it’s shutting down legacy consumer accounts
Celestia’s modular blockchain network is officially live on mainnet
🏦 Wallstreet & VC
Investico & Galaxy spot Bitcoin ETF gets ticker $BTCO on DTCC
Robinhood’s Bitcoin wallet now exceeds $4B, the 3rd largest overall
Hivemind Capital expands to Hong Kong with new executive hire
Pantera predicts stablecoin evolution as regulations become clear
🏛️ Legal & Regulatory
Vivek Ramaswamy to discuss crypto policy on Bankless podcast
Senator Warren was corrected by an expert after attacking crypto
Gary Gensler celebrates the BTC whitepaper’s 15th anniversary on 𝕏
CTFC awards $16M to US whistleblowers, mist tips were crypto-related
FTX & Alameda Research wallets send $13.1M to crypto exchanges
🌎 Rest of the World
WalletConnect restricts use in Russia following US OFAC compliance
DeFi protocols are exempt from new EU crypto rules for now…
Hashkey, Hong Kong crypto exchange, launches retail trading app
BitGo granted crypto custody license by German financial regulator
Taiwan police bust $324M USDT money laundering operation
Turkey to propose fresh crypto legislation in line with FATF standards
🖼️ NFTs & Metaverse
Elon Musk unfollowed Beeple on 𝕏 because his work was “too jarring”
GMoney speaks on episode 4 of Punks As Told By CryptoPunks
ApeFest week starts in Hong Kong; brace for crazy videos
Galxe, web3 loyalty platform, adds OpenAI-powered assistant
ATP Tennis Tour offers customizable NFT posters for 2023 Finals

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