The Block
Quick Take French authorities released a statement saying Telegram CEO Pavel Durov had been arrested as the result of a sweeping cybercrime investigation that included allegations of providing “cryptology” services and tools. Durov was arrested at the airport in Paris over the weekend. The messaging app is popular among advocates and users of cryptocurrency.
Quick Take There is an increased risk of political gridlock regarding major cryptocurrency bills, and their progress could stall next year, writes TD Cowen.
Quick Take Market hesitation could hold bitcoin within a tight range of between $62,000 to $67,000 in the near term, according to QCP Capital analysts.
Last week, bitcoin inflows totaled $543 million as Fed Chair Jerome Powell indicated the central bank may start lowering interest rates, according to CoinShares.Digital asset investment products saw weekly inflows of $533 million, the largest positive swing in five weeks.
The seven-day moving average of Ethereum’s daily trading volume has fallen by 55% in the past 30 days.Daily transactions on the network dropped to a multi-month low of 1.07 million on Sunday.
Quick Take Chainbound raised $4.6 million in seed financing in a round led by Cyber Fund, with support from Maven 11, Robot Ventures and Bankless Ventures, among others. Its first product, Bolt, will enable preconfirmations on Ethereum — allowing for sub-second transaction confirmations, significantly speeding up the average seven-second confirmation period.
The total daily transaction fees paid on the Solana blockchain have fallen to a multi-month low.The top five Solana-based memecoins have seen double-digit declines in value over the past month.
Quick Take The total stablecoin market cap, excluding algorithmic stablecoins, grew 0.8% over the past seven days to around $168.1 billion, according to DefiLlama data. USDT takes up about 70% of the entire stablecoin market cap.
Quick Take Thai authorities raided a bitcoin mine that did not fully pay its electricity bills. Southeast Asian countries, including Malaysia, have cracked down on power theft associated with bitcoin mining in the past few weeks.
Quick Take The presidential election forecast on Polymarket has amassed over $732 million in bets. Independent candidate Robert F. Kennedy Jr. recently dropped out of the race and announced his support for Trump.
