It wasn’t only the $90,000 spent on naming rights for a rare Ecuadorian frog species that turned off members of this decentralized blockchain-powered community project; some savvy arbitrageurs just wanted their share of the project’s treasury.Source
BTC slid to $26,500 as interest rates and the U.S. dollar surged while equities declined.Source
Judge Lewis Kaplan, who’s overseeing Sam Bankman-Fried’s trial, granted the U.S. Department of Justice’s motion to block all of the FTX founder’s proposed witnesses from testifying at his trial next month.Source
The success of a recent post from Rolling Stone calling NFTs worthless struck a nerve. But the reality is more complicated and more hopeful.Source
“I never thought that you could be THAT scared of us,” DWF’s Andrei Grachev posted on X. Wintermute’s Evgeny Gaevoy: “We are trembling in your presence.”Source
Former U.S. Sen. Pat Toomey, who tried and failed to push his own crypto legislation through Congress before leaving at the start of the year, can’t see how the current Senate will have any better luck, despite recent progress in the House of Representatives.Source
Celo, which is ditching its standalone blockchain in favor of a new “layer-2” network atop Ethereum, had originally signaled plans to rely on Optimism’s OP Stack, a similar customizable kit to Polygon’s but using Optimism’s “optimistic” technology.Source
There’s lots of talk these days about how blockchains can make AI safe for human consumption. But is the idea, widely touted in the crypto community, workable in practice? Jeff Wilser takes a critical look.Source
Christopher Jensen from Franklin Templeton tackles myths about crypto in the Crypto for Advisors newsletter.Source
Damoon, a Tether subsidiary in which Northern Group acquired a stake earlier this year, has purchased $427 million of Nvidia chips for generative AI cloud computing.Source