The Digital Assets Report 92
Summary
- Elon Musk completes Twitter takeover and ‘fires top executives’.
- DOGE price rallied 98.5% in the last seven days following Elon Musk's acquisition of Twitter.
- Google introduces Cloud-based Blockchain node service for Ethereum. Technology giants are giving toward blockchain, crypto and Web3 projects.
- Binance confirmed as investor in Twitter takeover, as Musk reportedly plans to take reins as CEO.
- After 4 years development, zkSync, an Ethereum Layer 2, mainnet launched last Friday with zkEVM architecture upgrade, dynamic fees, proof generation, and proof validation. ZKSync has plans to launch a token.
- Lugano agrees bitcoin partnership with El Salvador.
- FTX Very Likely to Launch a Stablecoin, CEO Sam Bankman Fried Confirms. This probably follows the gaining traction of Binance and its BUSD on stablecoin market share.
- Bitcoin miner Core Scientific's stock price plunges 70% on bankruptcy risk.
- Costa Rican Lawmakers Propose Nixing Almost All Taxes on Bitcoin.
- Apple has rejected calls to exempt NFTs from its 30% “Apple Tax” on in-app purchases.
- Chinese Intelligence Officers Used Bitcoin in Scheme to Undermine Investigation, US Officials Allege.
- Singapore is Supportive of Stablecoins.
- The first pilot in the Digital Rupee will start today on November 1, 2022.
- MakerDAO Splits in Two Over Founder’s 'Endgame' Proposal. Opposing factions are forming within MakerDAO over founder Rune Christensen's controversial proposal. Co-founder Nicolai Muchgian dies by drowning on a beach in Puerto Rico this Monday 31, 2022.
To watch this week
- The US Fed Reserve FOMC Meeting for November 2022 is taking place on 1st and 2nd November 2022.
- US trade balance, durable goods orders and initial jobless claims , November 2
- ETH San Francisco, November 4—6, 2022
Business
Elon Musk completes Twitter takeover and ‘fires top executives’
The $44bn deal will give world’s richest man control of social media platform with more than 230m users
62% of Dogecoin hodlers in profit amid hopes of Twitter integration
Many in the crypto community believe Elon Musk’s takeover of Twitter to be a positive for the now-8th-largest cryptocurrency Dogecoin.
Oh no, all our diabolical plans have been revealed!!
— Elon Musk (@elonmusk) October 31, 2022
Crypto exchange Binance, Musk’s co-investor, to help Twitter with blockchain
Binance, the world’s largest crypto exchange that has invested $500 million into Elon Musk’s buyout of Twitter Inc, is creating a team to work on how blockchain and crypto could be helpful to Twitter, the company’s spokesperson said on Friday.
Matter Labs releases first phase of zkSync 2.0 mainnet called ‘baby alpha’
Matter Labs, the developer of zkSync, has launched the zkSync 2.0 mainnet but is controlling access for now.
Google Introduces Cloud-Based Blockchain Node Service for Ethereum
The move highlights the growing attention that technology giants are paying to blockchain, crypto and Web3 projects.
Bitcoin Miner Core Scientific’s Stock Price Plunges 70% on Bankruptcy Warning - Decrypt
The company could run out of money by the end of the year—or even sooner, it said in a statement to shareholders.
Pro-crypto city of Lugano and El Salvador sign economic agreement based on adoption
Officials from Lugano and El Salvador announced the signing of a memorandum of understanding on economic cooperation at the city’s Plan B event on Oct. 28.
FTX May Launch Own Stablecoin ‘in the Not-too-distant Future,’ CEO Says - Blockworks
Aside from a potential stablecoin, Sam Bankman-Fried also shared that FTX has between $1 billion and $4 billion on hand to make acquisitions
Apple cracks down on NFT functionality, social post boosts with App Store rules
Apple’s new App Store rules will prohibit app from using NFTs to unlock features. Users can only mint, transfer, and view NFTs.
MakerDAO Splits in Two Over Founder’s ‘Endgame’ Proposal - Decrypt
Opposing factions are forming within DeFi staple MakerDAO over founder Rune Christensen’s controversial proposal.
Markets
Crypto Charts 85
Bitcoin People have asked why I remain bearish on BTC and whilst below $25′220 I will remain with this view. I am showing a logarithmic daily chart to emphasis the fact that until we break the above level, on a purely technical analysis basis it looks as if we are
Regulations
Costa Rican Lawmakers Propose Nixing Almost All Taxes on Bitcoin - Decrypt
Lawmakers in Costa Rica want to regulate the use of Bitcoin and cryptocurrencies and largely stop the government from taxing them.
Chinese Intelligence Allegedly Tried to Bribe U.S. Official With Bitcoin - Decrypt
The spies, who reportedly used the Wasabi Wallet mixing service to obfuscate their transactions, unknowingly pitched a FBI double agent.
Singapore Central Bank Proposes Stablecoin Rules to Rein In Crypto Sector
In a separate document, the Monetary Authority of Singapore said it’s also considering measures to limit retail investors without access to professional advice from engaging in crypto markets.
India’s Central Bank to Start Wholesale CBDC Pilot Nov. 1
A pilot for a retail version will start within a month.
Opinions
Ethereum Founder Vitalik Buterin: Crypto Industry Shouldn’t Be ‘Enthusiastically Pursuing Institutional Capital’ - Decrypt
“Should I publicly blab my opinions about crypto regulation more?” he asks. “Feels unfair to let other people get attacked.”
Reading / Podcasts
Satoshi Nakamoto’s Seminal Bitcoin White Paper Turns 14 Today – Bitcoin News
14 years ago today, on Halloween, Satoshi Nakamoto introduced Bitcoin to the world by sharing the renowned white paper.