Sky, the DeFi lending protocol that was formerly known as Maker, has rolled out its USDS stablecoin on the Solana blockchain.
According to the official announcement, Sky said the launch positions USDS as “the first major DeFi-native stablecoin on Solana,” offering new avenues for borrowing, lending, and trading on the blockchain’s leading DeFi platforms.
“Today’s launch marks the first step in Sky’s strategy to increase Solana’s DeFi liquidity and TVL. With pending governance approval, future phases will roll out SkyLink to enhance native cross-chain support for USDS and sUSDS. Sky’s vision is aligning with Solana’s strong ecosystem of consumer apps, composability, and high-performance technology.”
The update on X revealed that USDS’s integration on Solana is powered by

In an effort to tackle electricity shortages, Russian officials disclosed plans to suspend cryptocurrency mining in several regions this winter. The ban will impact the Irkutsk region, portions of Buryatia, the Zabaikalsky region in Siberia, and six North Caucasus areas, including Chechnya and Dagestan.
Mining will also be prohibited in the Russian-controlled Ukrainian regions of Donetsk, Luhansk, Zaporizhzhia, and Kherson. The mining suspension in Siberia will last from December 1 through March 15, 2025, with annual restrictions running from November 15 to March 15 until 2031. In the North Caucasus and occupied Ukrainian regions, mining will be banned year-round from December 2024 until March 2031.
The measure has been approved by a government commission under the

Wrapped Bitcoin’s (wBTC) team has expressed surprise and disappointment at Coinbase’s decision to delist the token. In a statement shared on X, it urged the crypto exchange giant to reconsider this decision and continue supporting the trading of the token.
The team said the token has positioned itself as a decentralized and transparent wrapped BTC product, supported by “innovative mechanisms and rigorous governance.”
They even highlighted their adherence to custody processes, on-chain verifiability, and regulatory compliance, as well as maintaining active communication and cooperation with due diligence processes, including those involving Coinbase.
“We firmly believe that transparency and decentralization are core values of the crypto industry, and wBTC exemplifies these

As Bitcoin continues to break into uncharted territory frequently, a previously dormant wallet has come to life after more than a decade of inactivity.
According to the popular crypto tracker, Lookonchain, a Bitcoin wallet that has been dormant for 13 years, has made a significant transaction. The entity, which holds 426.3 BTC worth around $36.62 million, transferred 42.3 BTC. This stash is valued at $3.67 million.
The wallet originally received the 426.3 BTC on July 29, 2011, when the asset was priced at just $13.49, equating to a total of $5,753 at the time. This move has sparked interest due to the long period of inactivity and the substantial value of the funds involved, raising questions about the motivations behind such a large transfer, especially at a time when BTC

Chinese fabless integrated circuit design company Nano Labs has announced that it has opened a Coinbase account and begun accepting Bitcoin payments for its products.
Its decision to expand its global transaction options coincides with Bitcoin reaching an all-time high of $90,000.
Nano Labs Turn to Bitcoin
In its official press release, Nano Labs stated that it is responding to the growing demand for digital currency transactions in the technology sector by accepting Bitcoin payments. As cryptocurrency adoption increases, particularly among businesses looking for efficient and secure methods for cross-border transactions, the company said its move reflects its intention to adapt to these changes.
It is important to note that Nano Labs’ decision to accept Bitcoin as a

The Ethereum Foundation – a non-profit entity that supports the second-largest blockchain – sold 100 ETH for 334,315.7 DAI on November 12th.
The sale represents the foundation’s first ETH transaction since releasing its 2024 report last week.
Ethereum Foundation’s ETH Sales
According to the popular blockchain analytics platform ‘Spot On Chain,’ in 2024 alone, the Ethereum Foundation sold 4,266 ETH, raising $11.83 million at an average price of $2,773 per token. In September, the foundation sold 1,250 ETH, then worth approximately $3.07 million, followed by 300 ETH valued at $759,000 in October. These sales were conducted in nearly weekly batches over the two months.
As a result, the foundation has faced questions from the community about why it chooses to sell rather than

OP – the native token of one of the major layer-2 networks Optimism – has witnessed a more than 22% surge in the past week alone owing to the crypto market rally. At the time of writing, the asset is trading near $1.70 as it forms an ascending triangle pattern.
Experts suggest that this pattern could push its price higher.
OP’s Bullish Breakout Potential
According to popular crypto analyst Ali Martinez’s latest tweet, OP has historically demonstrated a tendency to form market bottoms through the pattern of ascending triangles, which are typically followed by significant price rallies. This technical formation suggests that a breakout is likely once the price reaches the upper boundary of the triangle.
In previous instances, these breakouts have propelled OP towards the

Animoca Brands – the Hong Kong-based Web3 giant – led the venture landscape in October, signaling broader ambitions across different sectors.
Messari reported that Animoca made nine investments, surpassing other active entities such as CMS Holdings, which made seven, and Hack VC with six.
Animoca Brands Pushes Venture Limits in October
Traditionally known for its focus on gaming and digital collectibles, Animoca expanded its scope this month. According to Messari’s data, the firm has dipped its toes into sectors like decentralized finance (DeFi), decentralized physical infrastructure networks (DePIN), artificial intelligence (AI), and others.
Trailing behind Animoca are Celestia’s Ekram Ahmed and Helius Labs’ Mert Mumtaz, both of whom made notable contributions with five

The iconic NFT collection CryptoPunks appears to be making a comeback this year amidst the ongoing NFT bear market.
According to CoinGecko, the CryptoPunks collection currently leads the NFT market with a 30.9% share among the top collections, a position it solidified after surpassing Bored Ape Yacht Club (BAYC) in May 2023.
CryptoPunks Sees Resurgence But BAYC Loses Ground
At the beginning of 2022, CryptoPunks held a 24.8% share, trailing BAYC’s 29.3% lead. Though it briefly overtook BAYC in November 2022, CryptoPunks soon fell back to second but kept a close gap, finally reclaiming the top spot in May 2023 due to its more stable floor price. Between 2022 and today, its dominance ranged from a low of 14.0% in May 2022 to a peak of 36.6% in January 2024.
However,

Medical diagnostics company Semler Scientific has acquired an additional 47 BTC for $3 million using operating cash flow since its previous disclosure in August. Alongside its third-quarter results, the company revealed that its bitcoin holdings have reached 1,058.
This stash is worth around $80 million in total purchases as of November 8th due to recent price appreciation.
“Laser Focused” on Bitcoin
Semler Scientific posted $13.5 million in revenue for Q3, a 17% decrease. Operating income was $5.1 million, down $1.2 million from Q2. Despite this, it remains “laser-focused” on acquiring and holding Bitcoin.
According to Semler Scientific’s chairman, Eric Semler, the company is seizing an opportunity to boost value for stakeholders by expanding its bitcoin reserves. Moving

Crypto market maker and liquidity provider Wintermute has proposed a fee switch framework for the Ethena protocol.
The main objective behind this move is to establish revenue alignment with sENA token holders and clarify Ethena’s protocol revenue structure.
Wintermute’s Fee Switch Proposal
According to Wintermute, sENA holders – those who have staked their Ethena tokens – do not benefit directly from Ethena’s revenue growth despite the protocol’s success with the USD-pegged stablecoin, USDe. The latest proposal, submitted to the Risk Committee on Wednesday, suggests enabling a future revenue allocation to sENA to align token holders with Ethena’s financial performance.
While the proposal refrained from providing specific figures for revenue allocation or a detailed

Bitcoin smashed its previous record to briefly surge past a new peak of $75,000 as Donald Trump is all set to become the 47th President of the United States.
Amidst what is being considered a massive victory for the crypto industry, the Coinbase Premium Index experienced a positive spike, indicating a potential surge in demand for Bitcoin in the US.
Coinbase Premium Index Spikes
The “Coinbase Premium Index” tracks the price difference between Bitcoin on Coinbase – an exchange popular among US users and many institutional investors – and Binance, the largest platform by trading volume.  According to CryptoQuant’s latest update, the index turned positive during Wednesday’s early Asian trading hours, climbing to 0.06 – its highest level since September 14.
The figure has

In line with a broader trend among major tech firms, Chinese e-commerce behemoth Alibaba is downsizing its metaverse operations.
The restructuring, which aims to improve efficiency, led to layoffs in Yuanjing, Alibaba’s metaverse unit, as the company recalibrates its focus in this sector.
Downsizing Metaverse Unit
According to the report by South China Morning Post, which is also owned by Alibaba, this move has affected “dozens” of employees. The layoffs reportedly impacted Yuanjing’s operations across Shanghai and Hangzhou, Zhejiang province’s capital.
The unit once had hundreds of employees and received significant investments in the “billions of yuan.” Despite the reduction in the employee count, the unit will still remain active and will shift its focus to metaverse

Meme coins aren’t just speculative assets. They have slowly started representing a symbolic rebellion against established financial norms, aligning with the demographic and ideological shifts shaping modern markets, as highlighted by Binance Research’s latest report.
Since 2022, the collective market cap of meme coins, measured as a share of Total 3 (the crypto market excluding BTC, ETH, and stablecoins), has nearly tripled from 4% to 11%, driven in part by a sense of financial disillusionment and a search for alternative investments amid rising inflation.
What’s Driving Meme Coins?
From 2020 to 2022, the global money supply surged by over 25%, rising from $81 trillion to $102 trillion. This rapid increase in the global money supply has led many to seek refuge in assets

Coinbase CEO Brian Armstrong has called for the next US Securities and Exchange Commission (SEC) chair to address the agency’s perceived inconsistencies in its approach to digital assets.
Armstrong’s criticism stems from the securities regulator’s shifting stance throughout the years which has caused frustration within the community.
SEC’s Contradictions on Crypto
His tweet, which accompanied a compilation of conflicting SEC statements on the issue, argued that the new chair should “withdraw all frivolous cases and issue an apology to the American people.” Armstrong laid out several examples of the SEC’s evolving position.
In 2018, the SEC stated that a digital asset “all by itself is not a security.” However, in 2021, the regulator declared that a digital asset

Nishad Singh, the former FTX head of engineering, was sentenced to time served and three years of supervised release. He avoided further prison for his role in the multibillion-dollar fraud at the collapsed cryptocurrency exchange.
Singh, sentenced by Judge Lewis A. Kaplan in New York, also faces an $11 billion forfeiture, becoming the fourth ex-FTX employee held accountable in court.
Limited Role and Cooperation
Although Singh was initially facing a potential 75-year sentence after pleading guilty to six criminal charges early last year, his attorneys successfully argued for leniency, citing the exec’s personal history, limited role in the misconduct, and efforts to rebuild his life since FTX’s downfall.
Judge Kaplan highlighted Singh’s cooperation as “remarkable” and

Consensys, the blockchain development firm behind the popular MetaMask crypto wallet, has decided to lay off over 160 employees. The move impacts 20% of its total workforce.
According to founder and CEO Joe Lubin, this decision was driven by macroeconomic challenges and substantial legal costs incurred during the company’s extended regulatory battles.
Job Cuts at Consensys
In the latest blog post, Lubin criticized the US Securities and Exchange Commission (SEC) for what he termed an “abuse of power. ” He highlighted how multiple regulatory cases, including those involving his company, have resulted in significant job losses and hindered productive investment in the blockchain sector.
The exec argued that the agency’s aggressive enforcement actions and the lack of

Stablecoin issuer Circle announced on Tuesday that it had signed a Memorandum of Understanding (MOU) with HKT, a major player in technology, media, and telecommunications.
The main objective of this collaboration is to explore opportunities for creating blockchain-based loyalty solutions tailored to Hong Kong’s merchant landscape.

Circle-HKT Collaboration
According to the blog post, Circle’s expertise in Web3 services, combined with HKT’s merchant network and customer engagement resources, will allow the two companies to develop Web3-powered loyalty solutions to improve consumer interactions with merchants, potentially creating more interactive engagement experiences.
In an official statement, Jeremy Allaire, co-founder and CEO of Circle, said:

“We are excited to

FTX has agreed to settle its lawsuit against Bybit, its executives, and investment arm Mirana, securing an expected $228 million to aid in repaying creditors.
This recovered amount is expected to help the bankrupt exchange repay its creditors.
FTX-Bybit: Closure in Sight
The deal, outlined in an Oct. 24 court filing, brings closure to a 2023 lawsuit initiated by the FTX estate, which aimed to recover assets for former customers and creditors of the bankrupt exchange.
The settlement, pending court approval, specifies that FTX will retrieve $175 million in digital assets currently held on Bybit’s platform and sell $52.7 million in BIT tokens to Mirana Corp., which happens to be the exchange’s affiliated investment entity.
The FTX estate also said that this agreement is in

Investment inflows into digital assets reached a whopping $901 million in October, comprising 12% of assets under management and marking the fourth-largest monthly inflows to date.
With these additions, year-to-date inflows have reached $27 billion – almost triple the 2021 record of $10.5 billion.
US Political Climate Drives Bitcoin Inflows
According to the latest edition of CoinShares’ “Digital Asset Fund Flows Weekly Report,” the month’s inflows were overwhelmingly focused on Bitcoin, with a massive $920 million, while short-Bitcoin products saw minor outflows of $1.3 million. It appears that recent US political developments, especially rising support for Republicans, have significantly impacted Bitcoin’s current inflows and pricing.
With $10.8 million in inflows, Solana

Bitcoin continues to lead in terms of the longest average holding period. However, one crypto asset has outpaced major assets like Ethereum in this metric, highlighting its sustained appeal among long-term investors.
According to the latest data compiled by IntoTheBlock, Bitcoin leads with an “average HODL time” of 4.4 years. This aligns with its popular perception as a long-term store of value or “digital gold.”
Despite the world’s largest crypto asset’s failure to reclaim a crucial level and notch a fresh all-time high, both institutional and retail interest have spiked, though the latter has been slower.
Interestingly, standing close to the “digital gold” is Litecoin which is often referred to as the “silver to the Bitcoin’s gold.” With an average holding time of 2.6

In recent weeks, Pump.fun, the popular Solana-based platform for launching meme coins, has been consistently selling large volumes of SOL.
According to the latest findings by Lookonchain, the Fee Account of Pump.fun, sold an additional 40,000 SOL, worth around $6.68 million, on October 2nd. The sale has prompted speculation about its broader market impact. Shortly after the development, SOL’s price briefly faced a drawdown to $163 before climbing back up to the press time price of $166.
Pump.fun’s $6.68 Million Sale
Lookonchain revealed that Pump.fun has generated a total revenue of 969,945 SOL so far, which is worth around $162 million. This figure comes after selling 503,343 SOL, valued at $78.7 million, at an average price of $156.4. This positioned Pump.fun as one of

Yuichiro Tamaki, leader of Japan’s Democratic Party for the People (DPP), has proposed a crypto tax reform to support the growth of a token economy, including Web3 and NFTs if he wins the election.
His plan would lower the taxation on crypto gains to a 20% separate declaration tax instead of treating them as miscellaneous income.
Proposal for Lowering Crypto Taxes
According to the campaign document, Tamaki suggested allowing losses to be carried forward for three years and exempting taxes on exchanging one crypto asset for the other.
Other proposals include raising leverage limits from 2x to 10x and introducing crypto exchange-traded funds (ETFs). The reform plan also addresses monetary innovation at the regional level. This involves digitizing the yen and empowering local

More than 100 physical attacks have been perpetrated against Bitcoiners, according to the “Known Physical Bitcoin Attacks” archive, maintained by Casa’s co-founder Jameson Lopp. The archive catalogs a concerning pattern in the crypto landscape: a rise in physical attacks against those possessing BTC and other digital assets.
While numerous incidents go unnoticed, this list serves as a sobering reminder of the perils of crypto ownership.
Rising Threats
The archive chronicles numerous violent encounters, beginning with Hal Finney, a pioneering figure in cryptocurrency and ALS patient, who faced a traumatic police response at his home back in December 2014. While his wife Fran was helping him shower, she received a bizarre call from a 911 operator, warning her that a SWAT

As the US presidential race becomes more intense with less than a month away until Election Day, data from last week suggests that digital asset inflows have surged to $2.2 billion.
This figure marked the highest level since July, spurred by optimism for a potential Republican success in the election.
Inflows Surge Amid US Election Optimism
According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report, the trading volumes of investment products have surged by 30%, resulting in price appreciation, bringing total assets under management close to the $100 billion mark. The distribution of these inflows, however, varied greatly by region. The United States was a clear leader for the week, recording inflows of $2.3 billion.
The digital asset manager

Bitget revealed that its native wallet has surpassed 40 million users, representing a growth of over 100% since March 2024. This brought the platform closer to Binance, making it the second most downloaded crypto app in the world.
In fact, Bitget Wallet recorded 6 million downloads in September alone.
In a recent blog post, Bitget attributed its growth this year to several key factors, including its integration with the TON ecosystem and Telegram. The team said that the integration allowed users to access wallet services directly through the social media messaging app, creating a more streamlined connection between traditional Web2 platforms and the evolving Web3 space.
In the third quarter, TON on-chain addresses increased by 4866%. Additionally, Bitget revealed that it

Stablecoin giants like USDT and USDC continue to strengthen their hold on the market, expanding their dominance and market share.
However, a new contender is making waves – PayPal’s PYUSD. While still relatively smaller, this emerging stablecoin is gaining momentum, signaling a potential shift, as per recent data.
Stablecoin Power Shift?
According to a report by the research team of asset manager Hashdex, stablecoins’ market dominance grew by 3% in the third quarter of 2024. Both USDT and USDC, the leading fiat-backed dollar stablecoins, saw their market shares increase by 1% and 5%, respectively.
PayPal’s PYUSD, though still smaller than USDT and USDC, experienced a remarkable 57% rise in dominance during the same period.
PayPal became the first financial technology

The surge in meme coins significantly contributed to Tron’s record revenue of $151.2 million in Q3 2024.
According to a report by Messari, the latest figure marks a 29% increase from the previous quarter. This growth can be largely attributed to the launch of SunPump, a platform designed specifically for launching meme coins.
Activity on SunPump started to surge on August 16 and escalated dramatically in the following two weeks. Between August 16 and August 31, Messari estimated that more than 270.3 million TRX (approximately $42 million) was burned, representing nearly 27% of Tron’s revenue for Q3. Notably, on August 21, the amount of TRX burned reached 34.7 million, which marked the highest daily total in Tron’s history.
The heightened activity surrounding meme coins not

With just over 20 days until the US presidential election, the race is heading into its decisive phase, and the stakes are high for the crypto industry.
Over the past few days, prediction markets have flipped, placing higher odds on Republican and pro-crypto advocate Donald Trump securing a win compared to his Democratic competitor, Vice President Kamala Harris.
This political shift to Republicans has contributed to significant inflows of digital assets over the past week.
Political Climate Fuels Inflow Ahead of US Elections
According to the latest edition of CoinShares’ “Digital Asset Fund Flows Weekly Report,” investors funneled $407 million into digital asset products, seemingly prioritizing the US political climate, particularly the upcoming elections, over monetary

Ethereum co-founder Vitalik Buterin sold 651.6 ETH worth of meme coins, which is approximately $1.62 million, in line with his commitment to charitable donations.
The tokens sold include significant amounts such as 10 billion MOODENG for 395.95 ETH ($982K), 200K MSTR for 93.23 ETH ($231K), and 500 million EBULL for 73.79 ETH ($183K), as per Spot On Chain.
Other sales included meme coins such as POPCAT, FWOG, Milo, TCATI, and VITALIK tokens.
Buterin’s Charity Donations
Over the past nine days, Buterin has amassed 1,101 ETH ($2.78 million) through meme coin sales, of which he donated 360.16 ETH ($884K) to charities, the blockchain analytics platform revealed in its latest update.
In a tweet last week, Buterin expressed his appreciation for meme coins that donate portions of