Monday October 9, 2023

Your Weekly Update On All Things Crypto

TL;DR

Ledger Employees Get Sacked As Staff Reductions Continue
The U.S Is Threatening The Freedom Of Crypto, According To OpenAI CEO
Judge Overseeing Ripple Case Officially Declines SEC Request
Yield Protocol To Shut Down Operations Soon
Babylon Unveils Minimum Viable Product (MVP) For Its BTC Staking Protocol
Crypto Fundraising September 26 - October 1

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MACRO NEWS

Ledger Employees Get Sacked As Staff Reductions Continue...

Ledger, one of the most prominent crypto wallet providers worldwide, has become the latest player in the industry to reduce its workforce due to the deepening impact of the ongoing bear market. This decision follows a series of staff reductions at other prominent crypto and blockchain firms this month.

The U.S Is Threatening The Freedom Of Crypto, According To OpenAI CEO...

OpenAI CEO Sam Altman recently defended cryptocurrencies in light of the challenges they have encountered this year, particularly the heightened scrutiny by the U.S. government. Despite Bitcoin showing an impressive performance in the first half of 2023, its momentum has been somewhat hindered.

Judge Overseeing Ripple Case Officially Declines SEC Request...

Judge Analisa Torres issued the decision on October 3rd, 2023. Furthermore, the request for a postponement has been denied as it no longer applies. The hearing is scheduled for April 23rd, 2024, beginning at 9:00 A.M. Before that, a final pretrial conference involving attorneys representing both the SEC and Ripple is scheduled for April 16th, 2024, at 2:00 P.M.

Yield Protocol To Shut Down Operations Soon...

Yield Protocol, which had previously secured $22 million in total value locked (TVL) and enjoyed support by prominent venture capital firms is reportedly closing its operations. The decision is a result of the ongoing bear market, which has forced several projects to end their once successful initiatives.

Babylon Unveils Minimum Viable Product (MVP) For Its BTC Staking Protocol...

Over 66% of the circulating supply of Bitcoin, which is approximately $329 billion, presently remains dormant. BabylonChain Inc. aims to harness this idle BTC and employ it to establish economic security for Proof-of-Stake (PoS) chains.

Crypto Fundraising September 26 - October 1...

On behalf of the Web3 community, we would like to extend our warmest congratulations to the companies that announced their success in fundraising between 25th September and 1st October 2023. We are thrilled to see such tremendous support from all involved. Well done!

INDUSTRY EVENTS

CONTENT OF THE WEEK

BREAKING: CRYPTO WINS MAJOR LEGAL VICTOY AGAINST SEC!! XRP NOT A SECURITY (can’t be appealed)

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Monero: What is XMR's Potential in from 2024 to 2030?

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Warning: This Time Is Different

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We at CryptoWeekly are not Financial Advisors. None of the content or opinions expressed in this newsletter should be considered financial advice. We highly recommend that you do your own research before investing in any project within or outside the cryptocurrency space.