FTX’s Nishad Singh Gets No Prison Time for Role in Crypto Exchange Collapse

Singh is the fourth FTX executive to be sentenced for his role in the fraud.Source

The Protocol: Crypto Fundraising, Job Losses, Juicy Payouts, Grants for Devs

In this week’s issue of The Protocol, our newsletter on blockchain tech, we’re covering the Optimism’s $42.5M token pledge to Kraken, crypto VC funding, grants for Bitcoin open-source developers, and Polymarket’s (negligible) impact on Polygon’s bottom line.Source

Institutional Investors Position for Bitcoin Volatility Into the U.S. Election

Some $350 million notional value of November call options traded on CME with a breakeven bitcoin price of nearly $80,000, anticipating a rally next month, one analyst noted.Source

Opportunities for Blockchains and Digital Assets to Support and Enhance U.S. National Security

With regulatory certainty, the national security benefits of digital assets and blockchain technology will grow exponentially, say four national security experts.Source

Enterprises Need DePIN More Than DePIN Needs Enterprises

With the exception of the institutional asset RWA theme, most Web3 segments struggle to convince enterprises to hop on board. DePIN is the next most logical beachhead where enterprises will be clamoring to get involved with digital assets, says Outlier Ventures’ John Goldschmidt.Source

Celestia’s TIA Braces for Price Volatility Amid $900M Token Unlock

Token unlocking events usually weigh on prices, but multi-month reaccumulation, crowded shorts and bullish crypto prices could lead to a surprise rally, crypto analyst Will Clemente said.Source

Bitcoin Tops $73.5K, Climbing Just Shy of New Record High

The largest crypto has extended its year-to-date gain to nearly 75% and has more than doubled from year-ago levels.Source

DYdX CEO Juliano Fires 35% of Workforce and Promises Pivot

“The company we’ve built is different from the company dYdX must be,” said the CEO.Source