Bitcoin, Ethereum, Cosmos and more Week 50 2023
All things crypto, web3 and blockchain across all the Coin Clubs
TLDR: Fair Value Accounting for Bitcoin, Ethereum ETFs Delayed, Flipkart & Polygon Partners Up, Synthetix Token Inflation Ends, Namada Launch on Cosmos Interchain, Trump Launches NTFs.
This week’s newsletter is sponsored by Amulet Finance:
Amulet Finance is a pioneering non-custodial lending protocol designed to power DeFi on Cosmos. Launching on Neutron in 2024, Amulet will empower users to access the value in staking rewards and other forms of yield upfront with self-repaying loans.
Starting with ATOM, users will be able to stake ATOM on Cosmos via smart contracts operating cross-chain from Neutron and obtain an Advance on their future staking rewards in a matching synthetic, “amATOM”.
By enabling loans against a variety of assets deployed on a range of strategies, Amulet is designed to release value for users and increase liquidity across Cosmos.
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Market & Airdrop Update
Before we dive in, make sure to check out our recent Market and Airdrop update:
Bitcoin Highlights of the Week
El Salvador's move towards integrating BTC into its financial landscape has reached a pivotal milestone. The eagerly anticipated "Volcano Bonds", have received regulatory approval for issuance in early 2024.
The BTC project Babylon emerges as a beacon of DeFi. With an ambitious goal of transforming all 21 million BTC into a staking asset through PoS mechanisms, Babylon has secured a significant stride forward.
River introduces River Link which is a platform that allow easy Bitcoin transfers via text message to anyone and anywhere, regardless of their wallet or location.
For fiscal years beginning after Dec 15 2024, the FASB will adopt Fair Value Accounting for Bitcoin. This essentially means, that the adoption of $BTC as a treasury reserve asset by corporations worldwide will begin.
Crusoe Energy has launched its new project in Argentina's Vaca Muerta oilfield where it will be converting 2 million cubic feet of wasted gas daily to power 12MW worth of Bitcoin miners.
Ethereum Highlights of the Week
The SEC has decided to push back approvals of a number of Ethereum spot ETFs to May 2024. Among the applicants affected are ARK Invest and 21Shares.
E-commerce giant Flipkart has revealed its strategic collaboration with blockchain scaling startup Polygon to leverage the chain development kit (CDK) for scaling its FireDrops Web3 loyalty program.
As SIP 2043 passes by a governance and subsequent implementation, Synthetix has ended the SNX token inflation. This will impact token-holders and liquidity providers as this pivotal point is reached for the protocol.
Polygon has released 3 new beta libraries aimed at making smart contract development in Foundry safer and more streamlined.
Coinbase launches ETH-USDC expansion of spot trading on Coinbase International Exchange by pairing via API access for non-US institutional clients only.
Cosmos Highlights of the Week
In the dynamic NFT and cryptocurrency landscape, Talis emerges as a platform with innovative solutions, focusing on its marketplace, tools, fee accrual mechanism, and governance.
Polymer is building a Cosmos-Ethereum interoperability ecosystem where connectivity among all Ethereum rollups through innovative IBC technology is utilized on the Cosmos ecosystem.
Namada, a privacy IBC, launches on the Cosmos interchain to bring privacy to Cosmos. Namada's architecture harnesses the power of IBC's to establish a unified and interoperable privacy.
Fetch AI and Singularity announced this week that they have teamed up and formed a partnership. This partnership will push the AI agenda in Cosmos to new levels!
Other Highlights of the Week
Hardware wallet company Ledger faced a massive security threat this week. The attack, originating from a compromised software library within Ledger's ConnectKit, led to malicious code injection in the frontends of numerous apps.
Former President Donald Trump has launched his latest NFT series called the “Mugshot Edition” collection. These NFTs are a special number of trading cards with a total of 47 editions with asking price of $5k each.
The crypto wallet, Rainbow Wallet, goes live by unveiling a points program aimed at rewarding Ethereum users for their on-chain actions. By signing up, users get Rainbow Points which seem like an airdrop, but no one is quite certain hereof.
What Ecosystem Next?
We continue to add more ecosystems that we write about. Which ecosystem would you like us to dive into next?
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