Daily Market Update 10/13

Top Stories

NFT Market Recap

💰️ Notable Sales:

• 35 Ξ Otherdeed Expanded #23502

• 19.9 Ξ Pudgy Penguins #7912

• 11 Ξ MAYC #19799

🎉 Notable Mints:

⬆️ Top by Volume:

• BAYC, floor of 25.2 Ξ (1% ▽)

• MAYC, floor of 4.8 Ξ (2% ▽)

• Winds Of Yawanawa By Yawanawa And Refik Anadol, floor of 7.3 Ξ (7% ▽)

⬆️ Top by Sales:

• Elongevity Enigma, floor of 0.004 Ξ (92% ▽)

• GoosePunks, floor of 0.011 Ξ (262% ▲)

• NARCOS, floor of 0.004 Ξ (1% ▽)

🪅 Biggest Winners:

• Genuine Undead, floor of 0.1 Ξ (25% ▲)

• Rug Radio - Genesis NFT, floor of 0.11 Ξ (24% ▲)

• The Grapes, floor of 0.56 Ξ (17% ▲)

Other News

Web3

• Snowfro collabs with Red Bull Racing and Bybit to introduce "#0, Algorithmic [Embroider-able];" holders can take their generative embroidery-ready file to an embroidery firm for installation

• Pudgy Penguins x Last Crumb luxury cookie collab goes live

• iBloxx Studios announces its deal with the Ball family to include the brothers and their family as playable NFTs in its upcoming game

• Blackdot, a high-tech tattoo startup, has created an automated tattoo device and plans to issue exclusive collections via NFTs

• Yuga Labs reveals more details about its upcoming Yacht Club Open House on Nov. 5 in Kai Tak, HK

• Punk6529 introduces "EMMA," an innovative tool for managing multiphase NFT allowlists

Blockchain

• Ethereum's validator queue is almost cleared out at just 598 validators from a peak of over 96,000 in early June

• Uniswap has launched its mobile crypto wallet for Android in beta

• Pseudonymous Bitcoin developer "Super Testnet," working on BitVM, said building a DEX on BTC would be a "step backward," and instead, is focused on scalability over smart contracts and altcoins on BTC

• Mastercard has completed a successful trial of wrapping CBDCs on different blockchains

• Flare will burn 2.1B $FLR tokens to support its ecosystem health

Finance

• Account Labs has raised $7.7M to build its self-custody wallet with abstraction allowing for Google logins, Mastercard, and Visa top-ups

• Trader appears to have swapped 131k $USDR for 0 $USDC amid the $USDR depegging event

• Arbitrum ecosystem projects have secured their portion of the DAOs $40M ARB grant

Artificial Intelligence

• Google announces it will provide legal protection for customers utilizing its products integrated with generative AI capabilities

• US is considering adding additional measures to curb Chinese developers from gaining access to US-made AI semiconductor chips

• Group of US senators have proposed a bill that would make AI-crafted replicas of another individual without consent illegal under federal law

• US Space Force issued a temporary order to its service members (or "Guardians") halting the use of personal generative AI while on duty

• China has released draft security regulations for companies providing generative AI services

Government

• G20 adopts the regulatory roadmap proposal from the IMF and FSB

• China has opened an industrial park dedicated to developing its CBDC ecosystem

• Indonesia will soon begin trials on applying blockchain technology in public service use cases

Business

• Ark Invest has filed a second amended application for a spot BTC ETF, introducing additional risk warnings and collateral specifications

• Coinbase argued that the recent proposal from the IRS will endanger the crypto industry and Americans' privacy

Legal

• Terraform Labs has alleged Citadel Securities of intentionally destabilizing its UST stablecoin, and the meltdown was not a result of instability in the algorithm but rather a "concerted, intentional effort"

• CFTC accuses former Voyager Digital CEO Stephen Ehrlich of fraud and registration failures

• Ex-CEO of Systematic Alpha Management admitted to fraudulently allocating profits and losses from future trades for his benefit

• Caroline Ellison, continuing her testimony, said CZ's tweet announcing the exchange's intent to sell its $FTT holdings amid "[at the time] recent revelations" had "contributed" to FTX's collapse, but the primary reason was its $10B loan from the exchange "it couldn't repay"

• Ellison testified that SBF asked her to sell customer BTC if its spot price broke $20k, prompting analysts to speculate whether FTX and Alameda prevented BTC from hitting $100k during the 2021 bull market

• Secret recording of an Alameda meeting days before FTX collapse reveals when the company staff learned about Alameda's bad investments, that FTX planned to raise funds to compensate users, and Alameda almost always had access to user's funds