🌞 GM!

Happy Friday Everyone!

Welcome back to your weekly dose of web3 insights! Your go to source for everything DeFi, RWAs, and Zivoe.

Here’s what we’ve got for you today:

1. Market Movements

2. Bite-Sized Bits

3. Zivoe In The News

4. Memes Of The Moment

📈 Market Movements

You aren’t bullish enough!

🟠 Bitcoin: $65,733.96 (+ 3.63%)

🔵 Ethereum: $2,663.09 (+ 4.43%)

🟣 Solana: $157.07 (+ 4.45%)

🟡 Fear & Greed Index: 61 (Greed)

🍪 Bite-Sized Bits

🧑‍⚖️ Legal

CZ To Be Released Today?
Former Binance CEO Changpeng Zhao, aka CZ, is set to be released from prison later today, but his $60B Fortune Remains Tied to Restrictions.

SEC delays approval of options trading on BlackRock's BTC ETF
The US Securities and Exchange Commission (SEC) has postponed its decision on allowing options trading for BlackRock and Bitwise’s spot Ethereum (ETH) exchange-traded funds (ETFs) until mid-November, as revealed in filings dated September 24.

OpenSea faces class action lawsuit
OpenSea is facing a class action lawsuit for selling NFTs. The lawsuit, filed by the Moskowitz law firm, alleges that customers were misled into believing that NFTs on the platform were unregistered securities.

SBF's neurodivergent disorders allegedly hampered his defense
A group of doctors has filed a brief in support of FTX co-founder Sam Bankman-Fried's appeal, claiming that his neurodivergent disorders (autism and ADHD) have hampered his defense at trial.

Caroline Ellison sentenced to 2 years in prison
Caroline Ellison, former CEO of Alameda Research, has been sentenced to two years in prison for her part in the FTX fraud. She will be required to serve at least 75% of her sentence and will be subject to a three-year suspended sentence on release. Judge Lewis Kaplan acknowledged her cooperation and remorse, but ruled that the seriousness of the case required a prison sentence to deter future financial crimes of this scale.

SEC Chair Gary Gensler grilled over crypto regulation, handling of DEBT Box case in heated congressional hearing
Lawmakers have criticized the SEC’s approach to regulating crypto over the years and say rules are not clear for the industry. Others say the SEC is doing its job by protecting investors.

💰 DeFi

OpenAI account promoting scam $OPENAI
The official OpenAI Newsroom account on X, which shares news about OpenAI, has been hacked to promote a crypto scam. The account, which has nearly 54,000 subscribers, published a message promoting a fake token called "$OPENAI", which claimed to offer a crypto related to AI and blockchain technology.

99% of TUSD funds at risk ?
The SEC has reached a settlement with TrueCoin and TrustToken. For 3 years, the companies falsely claimed that the TUSD was backed by dollars, when in fact 99% of the funds were invested in a risky offshore fund.

Could Polymarket launch a token?
Polymarket's trading volume, based on Polygon, jumped 57.5%. This follows rumors of a token launch after a $50 million funding round.

Ethena launches stablecoin backed by BlackRock's BUIDL fund
Ethena Labs has announced the launch of the UStb stablecoin, backed by BlackRock's BUIDL tokenised fund, in partnership with Securitize. The new stablecoin aims to enhance financial stability by being backed by fiat currency reserves, complementing USDe, the synthetic dollar launched by Ethena in April 2024.

EigenLayer expects token transfer restrictions to end September 30
EigenLayer's upcoming token transferability will mark a key moment for the protocol, whose TVL has dropped from its high of $20B to $12B over the past few months amidst broader market conditions and increasing competition. 

🏗️ Infrastructure

Binance launches pre-market functionality
Binance has launched Binance Pre-Market, allowing users to buy or sell tokens before they become available on the market. Those who have participated in the Launchpool can also trade their tokens during the first movements.

Vitalik bullish on Celo
Vitalik Buterin hailed Celo's growth after the blockchain network overtook Tron in terms of daily active addresses for stablecoin transactions. This has led to a 22% increase in the price of the CELO token.

Siemens uses Onyx network for commercial paper settlement
Siemens has used JPMorgan's Onyx and SWIAT blockchain systems to issue and settle a tokenized version of its commercial paper, marking a breakthrough in the tokenization of financial assets.

BNY Mellon to offer crypto custody for ETFs
BNY Mellon is moving closer to offering bitcoin and ethereum custody for US crypto ETFs after receiving a SAB 121 exemption from the SEC.

Visa to help banks test tokenized assets, smart contracts and seeks to launch an initial pilot in 2025 on Ethereum
Visa Tokenized Asset Platform (VTAP) will enable the development of fiat-backed tokens powered by smart contracts to help digitize and automate existing processes that will then power the exchange of real-world assets (RWAs), according to an announcement seen by CoinDesk.

📰 Zivoe In The News

Last week, Zivoe’s ITO Officially Ended and 1,250,000 $ZVE were airdropped to community participants! Details on exchange listings coming soon!

🐸 Memes Of The Moment

If you can't wait until next week to see us again, follow us on Twitter (@ZivoeProtocol)!

Don’t forget to share this newsletter with your friends 😉