The Protocol: Crypto Turns Up Nose at Trump Token Sale, ‘Gold Paper’

Republican U.S. presidential candidate Donald Trump’s pledge to support the crypto industry with favorable policies hasn’t translated to a robust reception for his token sale this week, with just a tiny fraction placed out of the targeted $300 million.Source

Crypto VC Market ‘Tepid’ as Q3 Investments Declined 20%, Says Galaxy Digital

Scared away by the various crypto collapses in 2022, institutional allocators have yet to make a comeback.Source

Bitfinex Hacker Ilya Lichtenstein Should Serve 5 Years in Prison, DOJ Says

Prosecutors have requested that Ilya “Dutch” Lichtenstein, who pleaded guilty last year to the 2016 hack of crypto exchange Bitfinex, should spend five years behind bars for his crime.Source

Crypto Usage Setting Records Amid Regulatory Uncertainty, A16z Says in Report

The report highlights a dramatic increase in blockchain activity, with 220 million addresses interacting with the technology at least once in September, triple the number in late 2023.Source

Trump Touts New Crypto Token After Initial Sales Are a Dud

A token sale for World Liberty Financial was active earlier on Tuesday before the site crashed.Source

Grayscale Looks to Turn Multi-Token Fund Into ETF

Grayscale Investments has filed to turn its multi-token fund, the Grayscale Digital Large Cap Fund, into an exchange-traded fund.Source

Is Elon Musk Selling Bitcoin? Tesla Transfers All $760M of Its BTC to Unknown Wallets.

On-chain data indicates that wallets associated with Elon Musk’s electric car company have begun moving funds.Source

Coinbase Escalates SEC Fight Over the Agency’s Inside Chatter on ETH

An intermediary for the biggest U.S. crypto exchange, Coinbase Inc. (COIN), is cranking up its legal fight over the Securities and Exchange Commission’s unwillingness to produce documents revealing the regulator’s internal thinking on whether to pursue Ethereum’s ether {{ETH}} and other tokens as illegal securities.Source

Why the $172B Stablecoin Market Could Send Crypto Prices Higher

The stablecoin market isn’t unlike Berkshire Hathaway’s enormous cash stash – it’s sitting there ready to be deployed, according to CoinMarketCap’s Alice Liu.Source

Ex-Valkyrie Founder’s Canary Capital Group Files for First Litecoin ETF

Canary Capital Group, a new digital asset-focused investment firm founded by former Valkyrie Funds co-founder Steven McClurg, seemingly wants to become a leader in the world of crypto exchange-traded funds (ETFs) rather than a follower.Source