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- 11/2/2023: SafeMoon Not Safe 🌕💳🐵
11/2/2023: SafeMoon Not Safe 🌕💳🐵
Top News
🌕 SafeMoon founders arrested and charged with fraud in the US
💳 PayPal subpoenaed by SEC regarding their new stablecoin $PYUSD
🐵 ApeCoin Special Council salaries cut by 50% in new DAO proposal

⌐◪-◪ → SafeMoon founders have been charged with securities fraud, wire fraud, and money laundering. I’m absolutely shocked SafeMoon was a scam. Shocked I tell you. I just hope nobody followed Dave Portnoy’s stupid advice in May 2021 and actually bought SafeMoon, those who did lost 99.6% of their investment. RIP.
⌐◪-◪ → Not sure what the SEC’s angle is here, but it definitey seems like there’s an increased focus on stablecoin regulations inside and outside the US these days. PayPal’s subpoena doesn’t come as a surprise to me - it’s like a cop pulling over a red lamborghini - its just gonna happen. It only took 3 months from launching PYUSD.
⌐◪-◪ → ApeCoin DAO has been under fire for its large salary payouts to Special Council members, who work part-time for $20k/mo. That’s now being cut in half. While reducing the treasury’s burn-rate is a smart move, I’m not so sure it will fix the DAOs operational issues. For a full breakdown of the two main working groups + salaries, check out this org chart.

Peripheral Vision
⛓️ Crypto & DeFi
Rarible introduces RaribleX, a marketplace for web2 brands
Senator Ted Cruz is accepting campaign donations in Bitcoin
Worldcoin’s wallet app reports 1 million monthly active users
Binance to launch popular memecoin $MEME tomorrow
Cubist launches new wallet-as-a-service product
Maple Finance expands lending platform to Base network
Marathon tests Bitcoin mining powered by landfill emissions in Utah
Shib devs launch .SHIB decentralized identity platform
🏦 Wallstreet & VC
Microstrategy bought another 155 Bitcoin yesterday
Modulus raises $6.3M to bring crypto security to AI
🏛️ Legal & Regulatory
Jury deliberations are set to begin for SBF’s trial today
🌎 Rest of the World
Paypal gets approval for Bitcoin and crypto services in the UK
UK Agency recruits investigators for specialized Virtual Assets Team
Major Swiss bank, SGKB, to offer customers Bitcoin trading
Swiss National Bank working on CBDC pilot with SIX exchange
London-based HSBC offering tokenized ownership of physical gold
German asset manager, DWS, to launch crypto ETF
China arrests 21 people involved in illegal casino ring
Hong Kong sets new regulatory requirements for asset tokenization
Taiwan puts forward bill to regulate Bitcoin and crypto services
🖼️ NFTs & Metaverse
OpenSea launches new collection page
Atari revives famous 1980s members-only jacket for NFT holders
Adidas web3 platform auctioning off Bugatti-inspired soccer cleats
XCOPY mints 250 RΞMNANTS on SupeRare, likely for RarePass drop
BAYC-themed casino to open up in Indonesia
Zoids Wild Arena game coming to Axie Infinity’s Ronin network

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