TLDR Crypto 2022-09-23

Coinbase's Risk Solutions unit was originally created to trade cryptocurrencies on behalf of clients. The group started using company cash to generate profits through trading and staking cryptocurrencies. Coinbase claims that while it occasionally purchases cryptocurrencies, it does not do so to benefit from increases in the value of the assets being traded. Coinbase recently successfully registered with the central bank of the Netherlands to operate as a crypto service provider in the region.

The Helium community has voted to move the decentralized Wi-Fi network from its own blockchain to the Solana network. The vote passed with around 81% of the 6,177 voters in favor of the migration. The move to Solana will help scale the protocol through more efficient transactions and interoperability. The existing Helium blockchain history will remain public after the migration. HNT holders will soon be able to use other wallets within the Solana ecosystem.

Braintrust, a decentralized talent network, is adding USDC as a new payout option with Stripe Connect. Freelancers will be able to receive tokens in their crypto wallets within just a few minutes. The integration allows people without bank accounts to be able to receive funds. Stripe is working to support more blockchains in more countries.

Coinbase NFT will now show listings from multiple marketplaces so users can find the best deals from their favorite creators. The feature will initially include Ethereum NFTs from Coinbase NFT, LooksRare, and OpenSea. Users will be able to transact directly without having to leave Coinbase. The feature means that creators gain a larger audience for no additional fees and buyers can discover the best deals across marketplaces.

The appchain thesis predicts that every popular web3 application will eventually have its own blockchain. This approach may work for some applications, but not all applications will benefit from investing in an appchain. This article looks at a number of scenarios where appchains can be the best approach. Appchains should be used when there are unique economic or technical requirements for the application. Developing an appchain is significantly more complex than developing a smart contract and there are increased security and composability risks.

This article presents data on the state of crypto in 2022 and a commentary on the data. The data covers daily web3 users, the most popular wallets, the most popular networks, smart contract development, and more. While the crypto ecosystem finds itself in a winter, there is a lot of innovation happening and this may turn things around. Many builders are still absorbing the lessons learned over the last few years.

Ethereum's annual token issuance has dropped to 0.20% post-Merge. The token remains slightly inflationary. While there are significantly fewer tokens being issued, the amount of ETH being burned through fees is still less than the amount of ETH being created. The diminishing supply has not helped the price of Ethereum, which has dropped more than 20% since the Merge.

FTX is in talks with investors to raise up to $1 billion in a funding round that would keep the company's valuation at roughly $32 billion. The negotiations are still ongoing and the terms are subject to change. Some of the fresh capital will likely fuel more deal-making for FTX, who has tried to act as a market consolidator during this year's crypto winter. Sam Bankman-Fried, FTX's founder, is betting that crypto will rebound and that the acquisitions will net him large profits when it does.

Binance US users can now transfer USDT from the Ethereum, Avalanche, and Polygon networks.

Arbitrum has the strongest user and transaction momentum among the leading blockchains and it is expected to maintain its lead due to improvements from its recent Nitro upgrade.

Frax Finance is developing an ETH-pegged stablecoin.

Euler Finance may be the first major lending market to list USDT as collateral.

0xFast Stream is a fast and high throughput system that can take a block number or range and return data about those blocks.