FFATH 🔺 Alibaba partners with Avalanche ⚔️ BSC vs ETH? ⚖️ Kraken settles Iran sanctions
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Headlines
🔺 Alibaba partners with Avalanche
🚀 Stripe building FIAT to Crypto onramp
🇷🇺 Russia's Sber bank integrates Metamask into its blockchain platform
🎮 Sony launches motion-tracking metaverse wearables
🏎️ Porsche just entered web3 with its first NFT collection
⌚ Timex to create limited edition BAYC watches for 500 holders
🎨 Pudgy Penguin's 'Snowed In' collection sells out at Sotheby's
⚖️ Kraken settles Iran sanctions violations with U.S. Treasury
🇺🇦 National Bank of Ukraine releases draft concept for digital hryvnia
🇮🇳 India’s digital rupee falls flat as low volumes blight trial run
🇯🇵 Binance acquires Japan-based licensed crypto exchange SEBC
⚖️ Italy plans to tax Crypto trading gains
⚖️ Gemini gets regulatory greenlight in Italy
🍏 Apple blocked Coinbase’s NFT
⚖️ South Korean prosecutors seek arrest warrants for Terraform Labs co-founder, investors and engineers
⚖️ Three Arrows founders have one week to provide key financial documents
Featured Story
Is BSC the Ethereum Killer?
Crypto markets have taken a hit and now may be the time for a great reshuffling of dominance. The total value locked (TVL) measures the overall dollar value of all assets locked into DeFi protocols. TVL tell us which protocols are active and have the most investment through their functions including staking, lending, and liquidity pools.
The largest network as recorded by TVL remains Ethereum which accounts for more than half of the TVL in the DeFi industry. In second place is Binance’s BSC blockchain, a slightly less than decentralized blockchain accounting for 12% of DeFi’s TVL. At first glance, it seems that everyone and their mother is using Ethereum.
However, that may not be the whole story. As reported by Token Terminal, the BSC chain (BNB) has more active web3 users than Ethereum. To put it simply, Ethereum has by far more capital invested into it, but it looks like Binance’s BSC may have more active users. This level of activity on BSC can likely be attributed to the fact that Binance is the only centralized exchange to have its own blockchain and token. If this sounds familiar and alarming, you’re not alone. However, no one can ignore the possibility of BSC becoming more widely adopted than its competitors. Changpeng Zhao (CZ), the CEO of Binance is looking to make BSC China’s primary blockchain. Such a massive adoption would truly rival Ethereum’s perceived dominance.
Indeed there are many blockchains seeking to be the “Ethereum killer”. Solana, Avalanche, Cosmos, Fantom, Cardano, Polkadot, Near - the list goes on. Each competitor has different approaches to building a successful chain. It seems though that BSC’s plan is to take the business first and improve on their chain second. Following in the footsteps of other chains Binance is just starting to dip its toes into developing a ZkRollup solution.
So what’s more important to a healthy blockchain? Should the development of new solutions take priority over adoption? Is TVL a better indicator than active users? Could BSC be the one to overtake Ethereum?
Let us know what you think, join us on Twitter and Linkedin!
FTX Drama
💸 Politicians are giving back their donations from SBF
💸 BlackRock CEO Larry Fink invested $24M in FTX
👉 Coinbase CEO, Brian Armstrong on SBF
👉 Wrapped Bitcoin DAO removes FTX, nine others in move to new multisig
Insider News
🦊 Infura collects IP addresses of MetaMask users (Change your RPC)
🔥 BNB Chain is live on OpenSea
👉 GMX surpasses Uniswap in daily fees earned
🦊 DEX aggregator 1inch to protect MetaMask users from frontrunning
🔥 Uniswap NFT aggregator is live
🔺 Trader Joe is deploying on Arbitrum
👻 Aave pauses lending markets for 17 Ethereum-based tokens
👉 Compound to set borrow caps on 10 crypto collateral assets
🛠️ Starkware open-sources latest version of Cairo
🦧 Ape Staking update
🌿 LensPort 2.0 has been released
🎮 Offers are live on Immutable X
👉 TON Telegram integration highlights synergy of blockchain community and sold usernames worth $50 million
👉 Near foundation joins foods giant Grupo Nutresa to unveil loyalty program in Latin America
👛 Phantom is expanding to Ethereum and Polygon
👉 Chainlink Staking v0.1 launching on Ethereum mainnet on December 6th
👉 Aptos Labs partners with MoonPay
👉 BitDAO launches modular Ethereum Layer 2 network Mantle
🤣 Cardano DeFi Project Ardana Halts Development (Cardano classic)
👉 Coinbase will list new asset and stop supporting BCH, ETC, XLM and XRP
👉 Aztec Connect has launched a stable developer testnet.
👉 StarkNet mainnet alpha upgraded
👉 Compound mulls upping WETH supply to $194 million in ether on v3 protocol
🎮 Did you try The Beacon on Arbitrum? (Stardew Valley like)
👉 BracketX is now live on Arbitrum
👛 Komodo offering three-in-one wallet, cross-chain bridge and DEX
👉 NEXO releases proof of reserves showing no exposure to FTX
Reads
📚 DeFi Options: Mapping Hype to Reality
🧵 Celestia explained - Sanjay Shah
Data
📊 Kaiko launches market data product tracking Aave, Compound and MakerDAO
📊 Arbitrum is doing great
📊 Mastering Dune Analytics
📊 Fantom is profitable
Friends of FFATH 🍷
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