Daily Market Update 10/05

Top Stories

NFT Market Recap

💰️ Notable Sales:

• 80 Ξ CryptoPunks #2540

• 17 Ξ The Captainz #2259

• 10.5 Ξ Pudgy Penguins #7177

🎉 Notable Mints:

⬆️ Top by Volume:

• BAYC, floor of 26.5 Ξ (1% ▲)

• Pudgy Penguins, floor of 5.5 Ξ (5% ▲)

• MAYC, floor of 5 Ξ (0.2% ▽)

⬆️ Top by Sales:

• MachiApeYC, floor of 0.0085 Ξ (28% ▽)

• Deadmigos, floor of 0.006 Ξ (32% ▽)

• RTFKT X Nike Dunk Genesis CRYPTOKICKS, floor of 0.12 Ξ (28% ▽)

🪅 Biggest Winners:

• JERKS, floor of 0.14 Ξ (50% ▲)

• Neo Tokyo Outer Citizen, floor of 0.7 Ξ (30% ▲)

• ProjectAtama, floor of 0.32 Ξ (29% ▲)

Other News

Web3

• .SWOOSH reveals the Air Force 1 Low “TINAJ,” exclusive with branding and available for platform users

• Louboutin x Marvel collab to give free NFTs to buyers of items from its “Marvel Collection,” and attendees of the launch events

• Velocity Series picks @ArtOnBlockchain to be featured in the next chapter

• Dogecoin community “Own The Doge” is working with the City of Sakura to install a statue of Kabuso, the dog that inspired the meme

• Stars Arena picks up traction on AVAX, boosting the networks transactions by 50%

Blockchain

• The Nature science journal published an editorial praising the use of DAOs as a revolutionary new way for researchers to create communities and raise funding where it might not be available

• Stellar released a financial inclusion framework for judging the efficacy of emerging market blockchain projects

• FTX exploiter observed moving $36.8M in ETH amid SBF’s trial

Finance

• CMCC Global raised $100M to invest in HK-based Web3 companies

• Visa executive reveals the company’s partnerships with crypto exchanges have facilitated $3B of payment volume

• Two former managing directors at BlackRock say the SEC will approve a spot BTC ETF in “three to six months”

• HK Stock Exchange’s Stock Connect system gets an upgrade, dubbed Synapse, that incorporates smart contracts to help execute post-trade workflows and reduce settlement risk

Artificial Intelligence

• Google Assistant will roll out with Bard to Android and iOS devices over the next few months, letting users interact with text, voice or images and taking actions

• LinkedIn will pilot an AI-powered assistant for recruiters and an AI educational assistant in its learning section

• Canva launched an AI-powered toolset called Magic Studio, designed to streamline visual content creation

Government

• US government added $275B worth of debt in 24-hours

• El Salvador welcomes its first mining pool as Volcano Energy partners with Luxor Technology

• Chainalysis reports the pro-Web3 HK region and active market could signal the Chinese government reversing course on its crypto ban

Business

• Polygon co-founder Jaynti Kanani says he will step down to focus on “new adventures” while “contributing to Polygon from the sidelines”

Legal

• NBA, NBA Players Association, and Dapper Labs named as defendants in a class-action for allegedly violating the Video Privacy Protect Act by sharing users’ video consumption data without informed consent

• Prosecutors say SBF misused customer funds and lied; defense claims SBF's actions were done in "good faith" and the transfers were "loans"

• SBF’s defense argues FTX’s collapse was due to a "perfect storm;" prosecutors and witnesses mentioned BTC, ETH, DOGE and SOL, but not FTT, the exchange’s native token

• DOJ issues a forfeiture bill listing two luxury jets owned by SBF which could be used to pay back creditors of FTX

• WSJ report notes some FTX employees in the US knew about the exchange’s backdoor to Alameda Research and flagged it for management, but the problem was never fixed