🍂 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

🟠 Bitcoin: $67,993.01 (+ 0.25%)

🔵 Ethereum: $2,536.62 (- 3.16%)

🟣 Solana: $173.79 (+ 13.64%)

🟡 Fear & Greed Index: 56 (Neutral)

The results from last week’s poll are in!

🍪 Bite-Sized Bits

📰 Headline Story

$20 million in crypto stolen from the US government?!
Someone appears to have stolen approximately $20 million in stablecoins and ETH from wallets belonging to the U.S. government, according to onchain movements tracked by Arkham Intelligence and ZachXBT.

🧑‍⚖️ Legal

Alex Mashinsky to appear in court on 13 November
Alex Mashinsky, former CEO of Celsius, will appear in court in New York on November 13th. Mashinsky is charged with market manipulation and commodities fraud.

Binance executive detained in Nigeria close to release
Money laundering charges against Tigran Gambaryan dropped for lack of evidence. Arrested and detained in harsh conditions since the beginning of the year, he is now expected to be released.

Do Kwon's extradition delayed again
Montenegro's Constitutional Court has once again suspended Do Kwon's extradition following a new appeal. This decision delays the extradition process, which was to be approved by the Minister of Justice.

1 in 7 US voters will vote for the most pro-crypto candidate
With less than two weeks to go until the US elections, a survey conducted by The Digital Chamber reveals that 16% of voters, both Democrats and Republicans, consider crypto to be a determining factor in their vote.

Peter Todd in danger since the release of the HBO documentary
Peter Todd has been forced into hiding following the broadcast of an HBO documentary accusing him of being Satoshi Nakamoto. He has expressed concern for his safety and has spoken out about the risks and dangers of such accusations.

💰 DeFi

Restaked Bitcoin TVL has seen a meteoric rise recently, surpassing $1 billion
“Bitcoin DeFi will probably leapfrog most other ecosystems in deposits simply because of the sheer size of Bitcoin's market cap.”

Polymarket steps up verification requirements for big bettors on elections
As the US election approaches, an anonymous French whale is said to have bet $45 million in crypto on Donald Trump's re-election via Polymarket. The prediction platform gives Trump a 64% chance of winning. In response, Polymarket, has stepped up its identity verification requirements for big bettors on the US election.

Sky wants to revert to its old Maker name after just 2 months
Project Sky, formerly Maker, could return to its original name after just two months. The rebranding to Sky, launched with the USDS stablecoin, has been met with mixed reactions from the DeFi community. Critics focus on the loss of identity associated with Maker, a historic name in the DeFi ecosystem.

Scroll delivers disappointing airdrop
The price of Scroll's SCR token fell 31% after the airdrop, from $1.33 to around $0.91. Criticism is mounting, particularly over the lack of a cap on rewards, which has favored whales. The 10 largest portfolios alone hold more than 10% of all tokens, while the top 100 portfolios account for around 30% of the total. 

Microsoft could start investing in bitcoin
Microsoft shareholders will vote on December 10th on a proposal to include bitcoin in the company's assets, citing its ability to protect against inflation, according to an SEC filing.

🏗️ Infrastructure

Stripe acquires stablecoin platform Bridge for $1.1 billion in crypto's largest acquisition
The deal would mark one of Stripe’s largest acquisitions and fulfill its CEO's promise to support stablecoin payments earlier this year.

Crypto exchange Kraken plans to launch its own blockchain early next year
You guessed it! Built on Optimism’s super chain. Maybe I’ll write up a piece on why OP is taking over the Ethereum ecosystem 🧐

TON loses significant portion of users
The Open Network blockchain has seen a sharp decline in its daily active users. After peaking at more than 5 million active users at the end of September, this figure fell to around 1.58 million in October.

USDC and USDT account for 50% of total crypto volume
The stablecoin market is growing significantly and now accounts for around 50% of transaction volume among the major cryptocurrencies.

BRICS to launch blockchain-based investment platform
At the 16ᵉ BRICS summit in Kazan, Russia, Vladimir Putin announced the creation of a joint investment platform, potentially using blockchain, aimed at strengthening economic cooperation between BRICS member countries (Brazil, Russia, India, China and South Africa) and new entrants such as Saudi Arabia, Egypt and the United Arab Emirates. The BRICS are currently discussing the use of a common cryptocurrency to facilitate transactions. This would make it possible to circumvent certain restrictions imposed by the current dollar-dominated financial system.

🗞️ Zivoe In The News

Zivoe originated its first loan this week to our partner, Zinclusive. They received $6M in funding at a 17% APR. This funding will be used help ~1,700 consumers escape high-interest debt! That’s real world impact! 🌎

If you want to help contribute, deposits have been reopened at: https://app.zivoe.com/

🐸 Memes Of The Moment

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