Crypto Meltdown

Welcome to the Crypto Scroll. Get caught up on all web3, defi, and crypto news in just one quick scroll. We do the homework so you don't have to. Powered by The Drop.

gm,

It's safe to say this has been one of the craziest past couple of weeks in all of crypto. FTX has collapsed and BlockFi seems to be going down with it. We are so happy to launch our new newsletter so let's not waste any time and jump into it!

THANK YOU TO EVERYONE WHO SIGNED UP! 🖤

• Why is crypto tanking? FTX-Binance drama explained (CD)

• Bitcoin price hits multi-year low at $15.6k (CT)

• Tether’s USD-pegged coin $USDT dips 3% to $0.97 for for a few hours on Thursday

• Crypto market crash is even impacting gold-backed securities (CNN)

• Bitcoin miner Core Scientific’s shares plummet after bankruptcy warning (CD)

• Binance’s CEO confirms participating as equity investor in Musk’s Twitter takeover (CD)

• Crypto VC firm CoinFund looks to raise $250M seed fund (CD)

• Twitter will allow users to buy and sell NFTs through tweets (Decrypt)

• Argo blockchain may have to cease operations soon (CT )

• Tether freezes $46M of USDT held by FTX (CD)

• South African supermarket chain Pick n Pay now accepts bitcoin payments (CD)

• The ‘Crypto Winter’ is far from over and has not hit rock bottom yet (CNBC)

• Hong Kong based ‘Reap’ secures $40 Million in Series A to bridge payments Web3 and traditional companies (Forbes)

• NiftyApes raises $4.2 million from notable Web3 investors to partake in NFT-based debt financing. (BLOCK)

• Chicago’s ‘Kodex’ launches beta testing after the announcement of $2 million raise to become the pioneer of Web3 domains (BIZ)

• Former Binance Executive looking to raise $30 million Web3 sister fund to existing venture fund, Lingfeng Capital (NFTG)

• BoostyLabs and Hypra join forces to build a Web3-focused venture studio (CT)

• Japan mobile-phone operator NTT docomo to invest $4B into web3 (CD)

• Web3 messaging infrastructure Notifi raises $10M seed round(TC)

• Crypto VC firm CoinFund looks to raise $250M seed fund (CD)

• Binance Founder has plans to assist Musk in bridging Twitter with web3 (WGURU)

• Chain, one of the largest web3 companies and blockchain software providers, scores partnership with the Miami Heat (BZ)

• Coinbase filing to support Ripple ($XRP) in legal debacle with SEC (Twitter)

• Feds score $3.3 billion crypto seizure form Silk Road Scammer (Bloomberg)

• The Monetary Authority of Singapore proposes new regulations for cryptocurrencies and here’s why (COINCC)

• Attacker behind $14.5m team finance exploit returns $7M (CD)

• Smart contract scams are ramping up as Solidus Labs estimates 300+ are being created daily (CT)

• Record $760M stolen in exploits during ‘hacktober’ (TD)

• Solana’s ‘Solend’ exploited in a $1.26 million attack (Bitcoin)

• Feds crack down on Tornado Cash with link to North Korea’s nuclear program (TD)

• Institutional DeFi is officially here as JP Morgan executes their first transaction on the Polygon network (CS)

• Elon’s idea to implement “$8/month pay-to-verify” is causing havoc in the community, but could imply web3 tech integrations to verify users (BW)

• Web3 Domain Alliance (W3DA) adds new alliance members for advancing the Web3 community (Twitter)

• MakerDAO Founder found dead after a cryptic final tweet (CD (Twitter)

• Shell will be speaking about Bitcoin mining at Bitcoin 2023 conference (BM)

• Q3 losses for Meta’s Metaverse division amount to $3.6B (CT)

• Ether turns net deflationary post merge (TD)

• Vitalik Buterin’s new Ethereum road map takes aim at MEV and censorship (CD)

• World-renowned VC Andreessen Horowitz (a16z) launches new project ‘Helios’ on Ethereum (CNEWS)

• Should traditional companies even care about web3? The creation of the Decentralized Storage Alliance was recently made to help inform and bridge these companies. (COIN)

• Even in the ‘crypto winter’, web3 developers are more active than ever. And it’s easier than ever to learn how to become one. (CT) (Alchemy)

Sponsored Content: There is no sponsored content in this newsletter.