News from the blockchain world #69 | Web3 opportunities & more ??
Hello everyone! ?? As the temperatures drop, the market’s heating up! There’s no better time to dive into the latest Web3 and blockchain insights. Grab a warm drink, settle in, and explore what’s shaping this bullish season! ????
From this edition, you'll learn, a.o:
? Who moved 2,500 BTC to unknown wallets?
? Which coin's trading volume surged by 233%?
? How did a fake Zoom link scam cost an investor $6M?
? What's changing in Web3 gaming?
? What role do AI agents play in crypto?
For the freshest crypto opportunities, visit our page and explore curated airdrops, testnets, and NFTs.
Happy reading, and see you next week!
?? Mt. Gox sends 2,500 BTC to unmarked wallets in fifth bitcoin transfer this month: Arkham
Mt. Gox transferred 2,500 BTC (worth $222 million) to two unidentified wallets on Monday night, marking its fifth major bitcoin transfer in November. This movement is part of a series of recent transfers by the bankrupt exchange, which last month delayed its repayment deadline to creditors to October 2025. Historically, such large BTC transfers from Mt. Gox often precede creditor repayments through exchanges like Bitstamp and Kraken.
?? US spot ether ETFs post record daily inflows of $295 million, bitcoin ETFs attract $1.1 billion
U.S. spot Ethereum ETFs saw record net inflows of $295.5 million on Monday, surpassing the previous $106 million high from launch day. Fidelity’s ether ETF led with $115.5 million, followed by BlackRock’s $101.1 million, Grayscale’s $63.3 million, and Bitwise’s $15.6 million. Following recent political developments, total inflows for these funds reached $513 million over four days. Monday’s trading volume also hit a record $912.9 million, nearly doubling recent levels. Crypto analyst Rachael Lucas noted that easing regulatory concerns have bolstered investor interest, with rising DeFi token prices likely further supporting Ethereum ETFs as a gateway to DeFi exposure.
?? Bitcoin nears $90K, stages best weekly return since US banking crisis
Bitcoin’s rally remains strong, nearing $90,000 after surpassing $85,000 on Nov. 11, with a current price of $88,879. This marks a nearly 30% gain in the past week, its best performance since the 2023 U.S. banking crisis, and adds $413 billion to its market cap, according to K33 Research's Vetle Lunde.
?? Cardano Surges as Founder Hoskinson Says He Will Be “Working With Lawmakers in Washington, D.C.”
Cardano's native token ADA reached its highest level since April 2024 following news that founder Charles Hoskinson may influence US cryptocurrency policy. Hoskinson, known for Ethereum, plans to advise on crypto under Trump, as Cardano pivots to a Bitcoin layer-2 model and introduces the new Midnight blockchain for enhanced privacy features and token rewards.
?? Analysts Say Dogecoin Poised for Further Rally After Largest Meme Coin Gains 93% in the Past Week
Dogecoin (DOGE) is showing signs of an imminent breakout as it tests critical resistance levels, with analysts forecasting a possible 50% surge to reach $0.34. Currently trading at $0.2944, DOGE has gained 30% in the last 24 hours and has seen a 233% increase in trading volume, hinting at growing market interest. With strong technical support and increased whale activity, coupled with institutional involvement, Dogecoin is primed for a potential upward movement.
?? Jack Dorsey's Block to prioritize bitcoin mining and wind down decentralized tech arm TBD.
Jack Dorsey’s Block, formerly Square, announced it will intensify its focus on bitcoin mining and its Bitkey self-custody wallet, scaling back investments in the music platform Tidal and winding down its decentralized web arm, TBD. Block’s third-quarter report cited strong demand in bitcoin mining, aligning with recent pro-mining sentiments in the U.S. The company has been developing advanced mining chips and partnered with Core Scientific to supply these systems. Block’s revenue missed analyst estimates, contributing to stock volatility. This strategic shift follows Block’s broader move into cryptocurrency since its 2021 rebranding.
?? Crypto.com and Ingenico Partner to Enable Global Crypto Payments for Merchants.
Crypto.com has partnered with payment provider Ingenico to allow global merchants on Ingenico’s platform to accept cryptocurrency payments without currency risk, settling funds in local currencies like USD, EUR, and GBP. Integrated with Ingenico’s AXIUM Android terminals, the partnership also offers rewards for consumers through Crypto.com Pay and is set to pilot in early 2025 across the U.S., U.K., Canada, Asia, Europe, and Australia.
?? Japanese crypto exchange Bitbank launches crypto investment firm
Japanese crypto exchange Bitbank has launched Bitbank Ventures, an investment arm focused on advancing blockchain and crypto projects in Japan and globally. It aims to support emerging tech initiatives, particularly those blending cryptocurrency with AI, to drive growth in Japan’s crypto industry.
?? Immutable announces in-game signing feature for Web3 gaming
Immutable has introduced "Pre-Approved Transactions" to simplify Web3 gaming by enabling seamless in-game transactions without players needing to leave the game for wallet approvals. This feature allows developers to integrate transaction approvals directly into game interfaces, making Web3 gaming feel like traditional gaming. Building on its Passport wallet infrastructure, which supports Google, Apple, and email logins, Immutable's new feature minimizes interruptions and improves user experience. It also reduces technical burdens for developers, supporting only game-issued assets initially, with plans to expand asset support in the future.
?? ENS Domains Unveils Namechain: A Layer 2 Solution for the Ethereum Ecosystem
ENS Domains has introduced Namechain, a specialized Layer 2 solution as part of the ENS v2 initiative. This new addition is designed to reduce costs and improve performance within the Ethereum Name Service ecosystem. By offering a familiar experience for Ethereum developers, Namechain aims to drive growth and innovation, expanding the potential of both ENS and the Ethereum network. ENS allows users to register easy-to-read domain names on the Ethereum blockchain, streamlining blockchain interactions and transactions.
?? Eat the Pie: A Fully Decentralized Ethereum Lottery.
Eat the Pie is a decentralized lottery protocol on Ethereum, promising transparency, fairness, and global accessibility. Built on Ethereum’s blockchain and using Verifiable Delay Functions (VDFs) for randomness, the platform is fully autonomous and open-source, with no central authority. Players buy tickets, choose four numbers, and await weekly draws triggered when the prize pool exceeds 500 ETH. Winners share a prize pool distributed among matching ticket holders: 60% for matching four numbers, 25% for matching three, and 14% for matching two.
?? TapSwap Launches New Web3 Gaming Platform Aimed at Skill-Based Monetization.
TapSwap has officially launched a new Web3 gaming platform focused on skill-based monetization, connecting players with developers to monetize their gaming skills through TAPS token. The platform features games, leaderboards, and player achievements, with users able to earn tokens by competing and training. With a goal to attract third-party developers, TapSwap aims to create a sustainable and equitable gaming environment, learning from previous tap-to-earn struggles to maintain token value.
?? Privacy startup Nym Technologies to buyback $1 million NYM tokens ahead of VPN launch.
Privacy startup Nym Technologies plans to buy back $1 million in NYM tokens, ahead of its mid-December launch of NymVPN, a privacy-focused decentralized VPN. The buyback aims to strengthen the NYM token’s value while preparing for growth, with tokens used to incentivize node operators who ensure user anonymity. The NymVPN leverages a decentralized relay network and a Noise-Generating Mixnet to shield web traffic. Nym’s CEO, Harry Halpin, also noted that each VPN subscription will contribute to ongoing NYM buybacks, with proceeds further funding network rewards and marketing.
?? Ethereum Launches Mekong Testnet to Preview Pectra Fork Updates.
The Ethereum Foundation launched the short-term Mekong testnet to preview features of the upcoming Pectra fork, scheduled for early 2025. Mekong allows developers to test new Ethereum Improvement Proposals (EIPs), focusing on UX and staking upgrades, without impacting mainnet operations. This environment enables early exploration of transaction and staking updates, particularly useful for high-fee concerns affecting users like memecoin traders. Feedback from Mekong testing will inform final refinements before Pectra’s mainnet integration, as Ethereum accelerates its upgrade cycle to stay competitive with other blockchain networks like Solana.
?? Alameda Research sues Waves founder to claw back $90 million
Alameda Research, the trading arm of the bankrupt crypto exchange FTX, has filed a lawsuit against Aleksandr Ivanov, founder of Waves, seeking to recover at least $90 million. According to the lawsuit, Alameda aims to reclaim assets tied to FTX’s bankruptcy case that were deposited with Vires.Finance, a liquidity platform on the Waves blockchain. In March 2022, Alameda reportedly deposited $80 million in USDT and USDC, which was later converted to around $90 million in USDN. Alameda claims that Ivanov promoted Waves and Vires as profitable opportunities but secretly manipulated WAVES’ value and diverted funds from Vires.
?? France to Ban Polymarket Access Amid Betting Concerns on US Election.
France’s gambling regulator (ANJ) plans to ban access to Polymarket, a crypto-based betting site, following reports of massive wagers placed by a French user on the US presidential election. Polymarket’s betting activity raised concerns about compliance with French gambling laws, prompting the regulator’s examination. Polymarket saw a surge in interest, with betting volumes topping $3.5 billion, partly due to a $26 million bet on Donald Trump's victory that earned the user a $49 million payout. The platform has also drawn scrutiny from US regulators due to the potential for market manipulation.
?? Caroline Ellison Begins Serving Two-Year Sentence for Role in FTX Collapse.
Caroline Ellison, former co-CEO of Alameda Research, started her two-year prison sentence at the Federal Correctional Institution Danbury in Connecticut. Her involvement in the FTX collapse, led by ex-FTX CEO Sam Bankman-Fried, caused billions in losses. Ellison pled guilty in 2022, agreed to forfeit $11 billion, and testified against Bankman-Fried, who received a 25-year sentence. Other FTX executives, including Ryan Salame, have also been sentenced, with co-founder Gary Wang's sentencing set for November 20.
?? Polish Regulator Issues Warning on Crypto.com-Linked Foris DAX MT Amid Compliance Concerns.
Poland's Financial Supervision Authority (KNF) has issued a warning to investors about Foris DAX MT, a Malta-based company associated with Crypto.com, over alleged unauthorized financial activities in Poland. This alert, while not a formal ban, cautions Polish investors about the platform’s legal standing. Crypto.com stated that it is consulting legal experts to address KNF's concerns. The KNF’s warning list alerts citizens about companies operating without necessary licenses, and the matter has been reported to the Warsaw Prosecutor’s Office. Amid regulatory scrutiny in Poland and a lawsuit with the U.S. SEC, Crypto.com faces increasing compliance challenges across regions.
?? Phishing scam via fake Zoom link costs GIGA investor $6M
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An investor in the memecoin Gigachad (GIGA) lost $6.09 million after falling victim to a phishing attack via a fake Zoom link. The attack, reported on Nov. 12, led to a massive GIGA sell-off. The investor, known pseudonymously as "Still in the Game," warned the community about the hack, explaining that a fake Zoom link drained one of their wallets. The phishing site installed malware that enabled the hacker to collect funds from three wallets, ultimately transferring 95.3 million GIGA tokens, which were then converted to Solana (SOL), Tether (USDT), and USD Coin (USDC).
?? Foreign Gang Nabbed for $250,000 Crypto Robbery of Ukrainian in Phuket
A foreign gang in Phuket, Thailand, was arrested for allegedly stealing $250,000 in cryptocurrency from a Ukrainian man. The suspects reportedly lured the victim into a hotel room under false pretenses, where they threatened him and forced him to transfer the digital funds. Thai authorities acted quickly, leading to the capture of the group, who are now facing charges related to extortion and robbery.
?? Crypto Scammers Use Fake BBC Report to Target Indians.
Crypto scammers are targeting Indian users by circulating a fake BBC report featuring billionaire Anant Ambani endorsing a fraudulent investment platform. The scam, promoted on X, mimics BBC’s branding and claims Ambani supports "Everix Edge," a platform supposedly turning small investments into millions within months. The fraudulent website redirects users to a suspicious cryptocurrency platform, gathering personal information under false pretenses. Despite previous crackdowns by Indian authorities, the scammers have shifted domains, continuing to deceive users. This scam mirrors past incidents where fake celebrity endorsements, including Elon Musk and Kate Winslet, were used to lure investors.
?? StakeStone Secures $22 Million Investment Round Led by Polychain Capital, With Strategic Investments from Binance Labs, and OKX Ventures – Press release Bitcoin News
StakeStone recently raised $22 million in a funding round led by Polychain Capital, with support from Binance Labs, OKX Ventures, and other major investors. This investment supports StakeStone's expansion and development of stable, yield-bearing liquid ETH through its adaptive staking network. Additionally, StakeStone is launching SBTC and STONEBTC, two new BTC products designed to boost native BTC utility within EVM ecosystems and other blockchain networks. StakeStone’s upcoming payment product, powered by MegaETH, will feature flexible savings accounts and a Buy-Now-Pay-Later option, promoting transaction flexibility and encouraging mass adoption in DeFi.
?? Pharos Closes $8M Seed Funding Round
Pharos, a British Virgin Islands-based blockchain network provider, secured $8M in Seed funding led by Lightspeed Faction and Hack VC. The company plans to use the investment to further develop its protocol and expand its ecosystem and community. Pharos offers a parallel blockchain network for decentralized innovation, emphasizing scalability and performance for a global decentralized payment network. Additionally, a strategic partnership with ZAN will focus on exploring and developing web3 infrastructure, including node service, security, and hardware acceleration.
?? Animoca Brands raises $10M for open metaverse platform Mocaverse
Animoca Brands raises $10 million for Mocaverse to advance Web3 mass adoption and interoperability through strategic partnerships and utility token warrant.
?? Akave Raises $3.45M in Pre-Seed Funding
Wilmington-based company Akave raised $3.4M in Pre-Seed funding from leading investors to accelerate the development of its Filecoin Layer 2 decentralized data management network. Led by CEO Stefaan Vervaet, Akave aims to empower users with full control and new monetization models around data ownership through its on-chain storage chain. The company has launched the Yucca Testnet for early testers and developers to explore and integrate on-chain data management solutions, setting a new standard for data ownership and control in decentralized technologies.
?? Dune acquires a16z-backed smlXL to expand real-time blockchain data offering
At DuneCon in Bangkok, crypto analytics platform Dune made three major announcements: the release of its new Echo platform for real-time, multi-chain analytics, the acquisition of blockchain simulation firm smlXL (backed by a16z, though the purchase amount remains undisclosed), and the introduction of a new metric aimed at measuring meaningful blockchain adoption.
?? Web3 Pioneer Animoca Brands Leads Venture Investments in October
Animoca Brands has emerged as the most active venture investor in October, expanding its investment strategy beyond gaming and digital collectibles to sectors like DeFi, DePIN, and AI. The company's potential public offering could take place in either Hong Kong or the Middle East, with Hong Kong being the likely choice. Despite a challenging 2023, including workforce reductions, Animoca's strategic diversification signals a broader vision for its future in the digital asset space.
?? Crypto-AI startup Pond raises $7.5 million in seed funding.
Pond, a crypto startup focused on creating decentralized AI model layers for blockchain, has raised $7.5 million in seed funding from prominent investors including Archetype, Coinbase Ventures, and Near Foundation. Founded in 2023, Pond initially built a search engine for on-chain connections, later expanding to a full AI ecosystem for Web3, supporting security, recommendations, and DeFi applications. The company’s AI models help simplify complex on-chain data for user insights, enabling DeFi risk management, personalized recommendations, and security. Pond plans to further grow its team to support these initiatives.
?? Cytonic Secures $8.3M in Seed Funding to Enhance Multi-VM Blockchain Technology.
Cytonic, a blockchain startup from the British Virgin Islands, has raised $8.3 million in seed funding. Developed by MultiVM Labs, Cytonic offers a unique decentralized execution layer that supports multiple virtual machines (VMs) on one network. Compatible with Ethereum and Solana, Cytonic enables low-fee, fast transactions and atomic asset swaps across chains, aiming to make decentralized apps more user-friendly and accessible. The funds will support Cytonic’s growth and tech development.
?? Validation Cloud Raises $10M in Funding.
Validation Cloud, a Web3 data and AI company based in Zug, Switzerland, has raised $10 million in a funding round led by True Global Ventures. The funding will support the expansion of its AI product offerings, enhancing Web3 data accessibility and improving user experiences across network ecosystems. Validation Cloud’s platform, featuring staking, node API, and data services, serves major Web3 clients like Chainlink, Aptos, Consensys, Stellar, and Hedera. This round follows earlier investment in February from Cadenza Ventures and other blockchain-focused firms.
?? Hypercasual Finance, Hana Network raises $4M in Builders round
Hana Network, a startup focused on "Hypercasual Finance," raised $4 million in a builder round backed by Sushiswap, Alliance, and Orange DAO. Founded by Kohei Hanasaka, Hana Network aims to simplify crypto by integrating social network features such as attention incentives, social tipping, and P2P funding, creating a user-driven financial ecosystem.
?? Stablecoin engine developer, CAP Labs, raised $1.9M in pre-seed round.
CAP Labs introduces a stablecoin engine designed to move beyond traditional DeFi limitations by leveraging exogenous yield sources like arbitrage, MEV, and real-world assets (RWAs). CAP’s decentralized model produces stablecoins in various denominations (USD, BTC, ETH) without relying on self-consuming economic designs. Instead of volatile token emissions or high-risk user fees, CAP offers users sustainable and scalable yields backed by adaptive market strategies and shared security networks. CAP’s model ensures competitive, censorship-resistant returns, democratizing financial opportunities once exclusive to sophisticated investors.
?? Decentralized derivatives startup SynFutures introduces its 'Perp Launchpad' and $1M grant initiative.
SynFutures, a decentralized derivatives startup, has launched its Perp Launchpad on Ethereum Layer 2 Base, enabling projects to create perpetual futures markets for a wide array of assets, including memecoins. Paired with a $1 million grant initiative, SynFutures aims to support new blockchain projects with financial aid, liquidity, and marketing. The Perp Launchpad offers liquidity providers passive rewards and a vault feature to optimize liquidity, enhancing asset utility. Since joining Base in July, SynFutures has led derivatives volume with $23 billion in trades.
?? Detroit Becomes First Major American City To Pioneer Crypto Payments for City Services.
Detroit will become the first major U.S. city to accept cryptocurrency for city services, starting mid-2025. Residents will be able to pay taxes and city fees in crypto through PayPal’s secure platform. Mayor Mike Duggan highlighted this initiative as part of Detroit’s broader tech-friendly and financial inclusion strategy. With 630,000 residents, Detroit joins a small group of U.S. cities exploring municipal crypto payments, aiming to enhance service efficiency, security, and transparency.
?? What are AI agents, and how do they work in crypto?
AI agents in crypto are automated software programs that execute tasks like trading, portfolio management, and token swaps autonomously on blockchain networks. By analyzing vast data and acting without continuous human oversight, they enhance DeFi, streamline financial management, and enable natural language transactions.
?? ERC-20 Stablecoin Transfers Surge to $9.3B on Binance and Coinbase After U.S. Election.
Following Donald Trump's 2024 election victory, Ethereum stablecoin holders transferred around $9.3 billion in ERC-20 tokens to Binance and Coinbase, with Binance receiving $4.3 billion and Coinbase $3.4 billion. These inflows, the second-largest in history, sparked bullish sentiment in the crypto market, echoing similar patterns seen in late 2020. Stablecoins like Tether (USDT) and Circle’s USDC, key players in the market, saw increased use as Bitcoin hit a record high of $76,243, lifting other top cryptocurrencies and DeFi tokens.
?? 'Not your keys, not your blockchain': DEGEN L3 can't switch 'rollup-as-a-service' providers from firm holding its keys.
DEGEN L3, a memecoin Layer 3 blockchain, faces an operational crisis with rollup provider Conduit, which allegedly withholds multi-signature keys critical for migration to a new provider. Launched in 2024 using Conduit’s "rollup-as-a-service," DEGEN experienced prolonged downtime after an unannounced upgrade and lost $160,000 for users. DEGEN claims Conduit confiscated sequencer fees and deleted block explorer data. Conduit disputes these claims, stating DEGEN has not provided an address for key transfer. This case highlights the risks of outsourced infrastructure in blockchain, where lack of key control can jeopardize project autonomy.
?? ZachXBT’s unintentionally created token reaches $3.4 million market cap.
An ERC-20 token unintentionally created by blockchain investigator ZachXBT reached a $3.4 million market cap after he minted open-edition NFTs via Zora on the Base network. Initially meant as free digital collectibles to document his investigation of a $243 million theft, Zora’s protocol automatically converted the NFTs into tradable ERC-20 tokens. ZachXBT, surprised by the token’s speculative trading, criticized Zora’s interface for not clarifying this feature. The token, now trading on decentralized exchanges like Uniswap, escalated from nearly zero to a high valuation, frustrating ZachXBT, who may take further steps to counter the unintended trading activity.
?? American chain of convenience stores, Sheetz Expands Crypto Payment Option to All 750+ Locations.
Sheetz has partnered with Flexa to allow customers to pay with popular cryptocurrencies like bitcoin, ether and litecoin, as well as stablecoins such as USD Coin at all locations. This move aims to appeal to younger consumers, who show more interest in digital currencies. Customers can download a separate app to load their cryptocurrency and receive $20 off their first purchase when paying with crypto. Additionally, Sheetz has integrated Flexa with its loyalty program, My Sheetz Rewards. As the convenience industry continues to embrace crypto, Sheetz's acceptance of digital currency represents a significant step forward in the adoption of cryptocurrencies in retail settings.
?? Elizabeth Warren defeats crypto advocate John Deaton to hold Massachusetts senate seat
Senator Elizabeth Warren, a vocal critic of the crypto industry, won re-election in Massachusetts, defeating Republican candidate and crypto advocate John Deaton. Warren has been a proponent of stricter anti-money laundering laws that extend Bank Secrecy Act requirements to crypto activities. Deaton, supported by crypto figures like Ripple CEO Brad Garlinghouse, argued for fewer regulations, critiquing SEC Chair Gary Gensler and the agency's classification of XRP as a security. During the campaign, Warren highlighted Deaton’s crypto backing, while Deaton countered by calling for Warren to address inflation and other issues with similar intensity.
?? Bitcoin reaches record high of $75,000 as traders bet on Trump victory.
Bitcoin hit a new record high of $75,005.08 as traders speculate on a Trump victory in the US presidential race. Despite previously calling cryptocurrencies a scam, Trump's changed stance has led to increased optimism for the digital currency market. Trump's potential return to office could push Bitcoin even further into uncharted territory, with the promise of policies favorable to alternative investments.
?? Africa Crypto Surge Hits 189% as Youth Choose Telegram over Traditional Banking.
The research highlights a surge in cryptocurrency adoption in Africa, driven by economic instability and a tech-savvy youth population. Over 3 million African users now engage in crypto-focused Telegram groups. Young investors in Asia and Eastern Europe also dominate the crypto landscape, while Western Europe lags behind. Millennials are identified as the largest cryptocurrency user group globally, with Africa projected to reach 54 million users by 2025. Despite the positive trends, Telegram leads in the number of investment scams and hacks, posing challenges for monitoring and reporting fraudulent activities.