The Block
McDonald’s Instagram account seemingly hacked to promote Solana token ‘Grimace’NBA All-Star Jimmy Butler and Ben ‘BitBoy’ Armstrong agree to settle Binance-related class action lawsuitBitcoin trades flat following lower U.S. jobs growth revisionThe following is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Memecoin Sundog rose by 25% on Wednesday as traders test out the recently launched Tron-based token generator SunPump.Solana-based generator Pump.fun has been for several weeks dominating the memecoin space.
Bitcoin’s price remains subdued following figures showing the U.S. added 818,000 fewer jobs than previously estimated.Equities showed mixed results following the lower-than-expected U.S. employment data.
The fast-food chain’s Instagram account appeared to have been hacked to promote a Solana memecoin.GRIMACE token shot to a market capitalization of $20 million before plummeting to less than $1 million.
Ethereum dominance, a measure of the digital asset’s market capitalization relative to the total crypto market cap, has declined by over 1.5% since November 2022.In the same period, bitcoin dominance has increased from 38% to 56% of the total digital asset market today.
Quick Take The volume of stablecoins transferred on Coinbase’s Base Ethereum Layer 2 blockchain on Oct. 26 was higher than all other blockchains for the first time, Artemis data shows. 30% of all stablecoin volume took place on Base, a higher proportion than typical leaders Ethereum, Solana, and Tron.
Quick Take An AI-powered VC fund called ai16z on the nascent platform Daos.fun reached a nearly $100 million market cap after a shoutout from the a16z partner after which it’s modeled, Marc Andreessen. The fund’s market cap has since declined to about $50 million, though volatility remains high. The fund’s creator says the plan is to have the AI run the fund based on input from DAO members, weighted by their token holdings and the quality of their prior recommendations.
Telegram CEO’s arrest tied to cybercrime investigation of unauthorized ‘cryptology’ services, say French authoritiesAbra settles SEC charges of unregistered sale of crypto asset securities in Abra EarnStablecoin market cap hits new all-time high, beating early 2022 recordThe following is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Quick Take The SEC alleges that Abra used customer digital assets “to generate income for itself and to fund interest payments.” In addition, the firm offered and sold securities that “did not qualify for an exemption from SEC registration,” the agency said in a Monday release.
