Markets & Business
Helium Ditches Own Blockchain in Favor of Solana After Community Vote (2 minute read)
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.
Coinbase Used Company Cash to Trade Crypto Assets, Claims Report (3 minute read)
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.
Innovation & Launches
Expanding access to the future of work with crypto payouts (3 minute read)
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.
Aggregated Listings (1 minute read)
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.
Guides & Resources
The Appchain Universe: The Risks and Opportunities (18 minute read)
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.
The State of Web3 in 2022 through Data (3 minute read)
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 Token Issuance Plummets 95% Following Merge (2 minute read)
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 in talks to raise up to $1 billion at valuation of about $32 billion, in-line with prior round (3 minute read)
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.
Keep Up With Crypto in Just 5 Minutes
Kepp Up With
Crypto in Just 5 Minutes
Cut through the noise with our
daily newsletter, get links and summaries of the newest innovations, tools, and launches in the crypto ecosystem
Join 120,000 readers for one daily email