NFifTy - OpenSea Cuts Half of Staff

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gm Scrollers,

Here’s your first delivery for the week. Biggest headline today is about OpenSea taking a new direction with the company, and 50% of the staff has been laid off. As you scroll for other headlines, let us know your thoughts on the future of NFTs

• OpenSea lays off 50% of staff due NFT market slump (F)

• Georgia Central Bank taps Ripple for pilot project (M)

• Coinbase posts $643M in revenue for Q3 (BW)

• Valkyrie Chief Investment Officer stated that the Spot Bitcoin ETF could be approved by EoY if not by EoM (CS)

• Ledger Recovery service expected to be live by new years according to CEO (BLOCK)

• FTX seeks $744M asset sale from Greyscale and BitWise ties (CT)

• VC Funds deploy $308M in October, with infrastructure startups receiving about half (CTXT)

• Aera Finances secures $8M via token release from Bain Capital Crypto and Jump Crypto for a risk-aware treasury management systems for DAOs (@oracle_xyz)

• Web3 VC Roundup (CT)

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• Visa completes test of CBDC in Hong Kong (P)

• Hong Kong is opening digital asset regulation with focus on Spot Bitcoin ETF (BBG)

• SEC subpeonas Paypal over PYUSD (TB)

• Lawyer John Deaton says $20M settlement is considered a win for Ripple vs SEC (CT)

• Wyoming senator states the SEC is “overreaching” on crypto crackdown (YF)

• Aaragon to return $115M of treasury assets to token holders (M)

• Circle is shutting down consumer accounts (DFNT)

• ProShares launches first short ETH futures ETF (TB)

• Aragon Assocaiton to dissolve making 86K ETH redeemable (BW)

• Yuga Labs and Magic Eden to collab on ETH marketplace project (O)

• Lido Finance approves proposal with 99% vote for decentralized staking module (BLOCK)

• ArDrive offers pay as you go for decentralized data storage (AR)

• The total stablecoin supply has been increasing (TB)

• XRP spikes 10%, becoming the 4th largest cryptocurrency by market cap (CD)

• Meme tokens for Musk’s new ChatGPT rival, Grok, are popping up on blockchains (CD)

• Former school turned mining facility takes on 220 units (CT)

• Conflux multichain protocol is shutting down (CT)

• “SBF committed one of the largest financial crimes in U.S. history”

• How hard is it to take over a blockchain using PoS? (ARXIV)

• Stanley Druckenmiller and Paul Tudor Jones III discuss Bitcoin and financial markets during fireside chat (YT)

• Charles Hoskinson discusses Midnight, L1s & L2s, and all things Cardano roadmap (YT)

• How large the market opportunity is for multiple Spot Bitcoin ETFs (CD)

• Web3 can pioneer healthcare investments (EH)

• Blockchain based carbon tracking (CN)

• Bitcoin has a larger market capitalization than Bank of America and Bank of China - combined! (@WatcherGuru)

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