The Block
Quick Take As elections draw closer on Nov. 5, both presidential candidates have made statements about crypto, though taking very different approaches. Ripple CEO Brad Garlinghouse said he thinks there could be a reset for the crypto industry no matter which candidate wins on Wednesday during DC Fintech Week.
Quick Take Bitkraft Ventures has led a $9 million seed round in the web3 mobile gaming platform Party Icons. The capital will be used to fuel the development of Party Icons’ gaming and social experiences while bolstering its web3 infrastructure.
Quick Take Nigeria has dropped money laundering charges against Binance’s Head of Financial Compliance and former Special Agent for the U.S. IRS, Tigran Gambaryan, who has been detained in the country since February. Ethereum co-founder Vitalik Buterin hit back at MicroStrategy founder Michael Saylor’s controversial comments on regulated bitcoin custody concerns being mostly from “paranoid crypto-anarchists.” Analysts at research and brokerage firm Bernstein said their current $200,000 bitcoin price predic
Quick Take Musk has frequently talked about creating a “Department of Government Efficiency,” or D.O.G.E, to cut back on what he deems wasteful spending and complicated regulations. The world’s richest person’s pronounced visibility and outspokenness could potentially impact crypto markets in the coming weeks.
Bitcoin on-chain metrics indicate that the digital asset has hit a short-term price top ahead of the U.S. election, according to analysts.The largest digital asset by market capitalization has dropped from a local high on Monday above $69,000, to now hover above the $66,000 mark.
Quick Take Powered by Across Protocol, permissionless bridging via the Uniswap interface or wallet is now live across nine networks. Initially, bridging is possible with Ethereum, Base, Arbitrum, Polygon, OP Mainnet, Zora, Blast, World Chain, and ZKsync.
Quick Take The Financial Stability Board said risks from global finance’s exploration of tokenization are low because the technology has not been adopted at scale. Despite the suggested low risk, the report warned that liquidity and maturity mismatches in tokenized assets could threaten financial stability, particularly as projects become more complex and opaque during market stress.
Quick Take Variational announced raising $10.3 million in seed funding from Bain Capital Crypto, Coinbase Ventures and others. Variational is an Arbitrum-based peer-to-peer crypto derivatives trading protocol.
The U.S. elections could trigger a “Minsky moment” crash for the bond market, analysts at Presto said, heightened by both candidates’ “fiscal extravagance” and rising debt levels.Renowned investor Paul Tudor Jones said he was bullish on bitcoin, gold and commodities amid the risk as “all roads lead to inflation.”
