Daily Market Update 10/17

Top Stories

NFT Market Recap

💰️ Notable Sales:

• 43.5 Ξ CryptoPunks #4145

• 7 Ξ Pudgy Penguins #3533

• 6.5 Ξ Otherdeed #13573

🎉 Notable Mints:

⬆️ Top by Volume:

• BAYC, floor of 25.5 Ξ (2% ▲)

• Winds Of Yawanawa By Yawanawa And Refik Anadol, floor of 11.8 Ξ (13% ▽)

• MAYC, floor of 4.8 Ξ (1% ▽)

⬆️ Top by Sales:

• Owls Of Fortune, floor of 0.007 Ξ (861% ▲)

• Forge Day 0 Badges, floor of 0.058 Ξ (45% ▽)

• Deadmigos, floor of 0.019 Ξ (6% ▽)

🪅 Biggest Winners:

• NFTrees, floor of 4.4 Ξ (48% ▲)

• NEOSTACKEY, floor of 0.8 Ξ (45% ▲)

• Velocity Series: Velocity Pass, floor of 1.4 Ξ (35% ▲)

Other News

Web3

• Art Blocks is collaborating with The Giving Block and members of Right Click Save to launch “reGEN,” a charitable auction to benefit The Cure Alzheimers Fund

• Animoca Brands is increasing its $APE delegation to 3.5M $APE for Mocaverse NFT holders following the Moca DAO’s launch

• Formula E: High Voltage from Animoca Brands and Amber will launch on the Flow blockchain this week

• TrueUSD third-party vendor was compromised, resulting in the potential leak of certain KYC and transaction data

Blockchain

• Transient Labs has released the Shatter Contract, allowing artists to mint digital creations as 1/1s with the option for collectors to fragment them into editions or retain as unique pieces

• Manta Pacific will migrate its software from OP Stack to Polygon CDK

• Lido Finance on Solana will be discontinued following the DAO’s vote

Finance

• Cointelegraph apologizes and discusses its investigation into its unverified claim of a spot BTC ETF approval that pumped price to $30k

• BlackRock CEO weighs in on BTC’s fake $30k pump, saying, “It’s just an example of the pent-up interest in crypto,” and “I think the rally today is about a flight to quality”

• Uniswap announces the protocol will implement a 0.15% swapping fee

• Xsolla and BitPay partner to allow for XRP payments in Roblox and Smite

Artificial Intelligence

• Group of scientists and astronomers have successfully used artificial intelligence and machine learning to identify and classify a supernova in real time

• Mercer CFA Institute report indicates AI could be used by pension funds to cut costs, increase returns, and highlight risks

• NYC Mayor Eric Adams released a plan for adoption and regulation of AI within the local government

• SEC Chair Gary Gensler warns of financial crisis stemming from the widespread use of AI as “nearly unavoidable”

Government

• Draft guidance by the Basel Committee on Banking Supervision requires banks to disclose quantitative and qualitative information on their crypto activities

Business

• StackOverflow has cut 28% of its staff amid the rise of AI chatbots

• Honda disputes publications’ suggestions which reported the company accepts crypto as payment

• Coinbase lawyer says IRS’s intent to target DEX users would be “awfully challenging”

• Coinbase Ventures and Haun Ventures are backing a technology accelerator program at the University of Arkansas

• Coinbase has suspended 80 non-USD trading pairs to improve liquidity

• Binance has halted onboarding of UK users following FCA restrictions

• Binance US has updated its ToS to indicate users’ crypto holdings are no longer FDIC-insured

• FTX has introduced a revised plan that aims at returning $9B, or more than 90% of creditor holdings

Legal

• Federal judge has given Genesis five days to comply with Terraform Labs subpeona

• Former FTX engineering director Nishad Singh reportedly “hopes for no jail time” but faces up to 75 years in prison

• Singh testified that SBF would “unilaterally spend Alameda’s money” and was “ultimately” in charge of the firm rather than the firm’s CEO, Caroline Ellison

• Singh testified that his admiration for SBF turned to “shame” after discovering how FTX execs enriched themselves with customer funds, saying, “I had a lot of admiration and respect for him, but over time that eroded”

• Prosecutors case against SBF is heavy on FTX exec claims rather than indisputable proof of SBF’s own words due to his policy of limiting records via omission and self-destructing messaging apps