MicroStrategy Announces $42b Bitcoin Plans

️ On today's Top Picks:

Crypto News

• ⭐️ MicroStrategy to raise $42b over next 3 years to buy more Bitcoin $BTC; $21b of equity raises and $21b of debt offerings.

• Microsoft shareholders begin preliminary voting on whether it should invest in Bitcoin $BTC.

• Consensys $ETH lays off 20% of its staff; cites challenging regulatory & macroeconomic landscape.

• ⭐️ Canary Capital files S-1 registration statement for spot Solana $SOL ETF; VanEck similarly filed for one in June.

• Base launches Fault proofs on Mainnet; a key milestone on its path to decentralization.

• Optmism $OP Foundation to give 25m $OP grant (~$43m) to Kraken; as part of deal to build ink L2 on the OP Stack.

• Kraken lays off 15% of its staff; board member Arjun Sethi steps up as co-CEO.

• dYdX $DYDX lays off 35% of its staff; Antonio Juliano returned as dYdX CEO in early October.

• FTX's ex-Director of Engineering Nishad Singh avoids prison sentence; given three years of supervised release.

• OKX Ventures, The Open Platform, & Folius Ventures to launch $10m Telegram $TON Growth Hub.

• Swell L2 to join the Superchain as an Optimistic Rollup built on the OP $OP Stack; migrates from Polygon $POL CDK.

• Stacks $STX launches Nakamoto Upgrade; features irreversible & faster transactions and sets foundation for sBTC launch.

• Kasper Vandeloock alleges MrBeast profited over $23m from crypto scams, shady deals, & his network.

Alpha

• ⭐️ Eclipse launches $tETH, a Unified Restaking Token created in partnership with Nucleus & Hyperlane.

• Space and Time launches SXT Chain, a blockchain for ZK-proven data; Testnet is live.

• Morph launches Mainnet; launches Dwellers of the Rainforest incentivized campaign on TaskOn.

• =nil; launches Testnet v1; to launch two more Testnets before Mainnet launch in Q4 2025.

• Aptos launches AptosTWO Year Anniversary quest on Galxe.

• RedStone Oracles launches final onchain quest of Season 2 RedStone Expedition.

• Lagrange launches Lagrange Legion: Recruitment quest on Galxe.

• Matcha launches support for Blast; launches Blast x Matcha Chain Launch NFT mint on Zora.

• Nudge launches Nudge Rank NFT minting

• Wield Labs launches FarHero, a 3D trading card game built for Farcaster; Genesis FarPacks dropped to all existing .cast handles.

Airdrops

• Kelp Airdrop Strategy by Earndrop.

• ⭐️ Morpho community member proposes to enable $MORPHO transferability.

• Magic Eden launches $TestME Airdrop; Magic Eden Mobile Wallet app required to claim.

• Superseed unveils Superseed Tokenomics; 15% allocated for Network Participation Rewards.

• Kroma launches $KRO Season 1 Airdrop; eligible users have 90 days to claim.

• Talent Protocol launches $TALENT Airdrop; launches celebratory NFT mint on Zora.

• Aleo launches $ALEO Airdrop for setup ceremony participants, Testnet3 provers, & Testnet Beta provers.

• GLIF unveils $GLIF Tokenomics; to airdrop 100m tokens to GLIF Points holders.

Finance News

• US State of Florida CFO Jimmy Patronis urges State Board of Administration to add Bitcoin to the state pension funds.

• Coinbase $COIN reports $1.2b revenue in Q3 2024, missing analysts' estimates; authorizes up to $1b share buyback.

• Riot Platforms $RIOT reports $154.4m net loss in Q3 2024; losses driven by rising costs & unrealized investment losses.

• Northern Data lawsuit accusing the firm of fraud dismissed; case was resolved following voluntary dismissals by the plaintiffs.

• Bitfarms $BITF nominates former Paxos COO Andrew Chang to its Board of Directors.

• Greenidge Generation $GREE secures temporary extension allowing its Bitcoin mining facility to continue operations.

• Reddit $RDDT sold majority of its cryptocurrency portfolio during Q3 2024; cites treasury purposes.

• Gold $XAU reaches new all-time high of ~$2,788 per ounce; up nearly ~35% YTD.

• Visa $V to lay off ~1,400 employees & contractors by end of year; cites evolving its operational model to support growth.

• mBridge to potentially be shut down by Bank for International Settlements due to sanction circumvention use.

Security and Exploits

• SEAL-ISAC releases tool to stay up-to-date on known tactics & identities associated with North Korean operatives.

• EigenLayer concludes investigation into theft of $EIGEN tokens; attacker used phishing attack & spoofed email.

• Tapioca DAO publishes Post Mortem of the social engineering attack on October 18th.

• Base launches free smart contract monitoring & analytics for every app & protocol; powered by Hexagate.

• Malicious Python Package posing as a crypto trading tool uncovered; designed to steal sensitive data & drain assets.

• Intel & AMD Processors remain vulnerable to speculative execution attacks despite existing mitigations.

• Vulnerabilities in open-source AI & ML models uncovered; could lead to remote code execution & information theft.

• RedLine & MetaStealer info stealers' infrastructure disrupted by Dutch National Police & international partners.

• Opera patches security vulnerability that enabled unauthorized access to private APIs.

Token Unlocks

• EigenLayer $EIGEN / ~$4m / OCT 29th
• Ethena $ENA / ~$5m / OCT 30th
• Celestia $TIA / ~$834m / OCT 30th
• Optimism $OP / ~$54m / OCT 31st
• Manta Network $MANTA / ~$1m / OCT 31st
• Sui $SUI / ~$133m / NOV 01st
• Immutable $IMX / ~$44m / NOV 01st
• ZetaChain $ZETA / ~$37m / NOV 01st
• dYdX $DYDX / ~$9m / NOV 01st
• Galxe $GAL / ~$8m / NOV 01st
• Cardano $ADA / ~$7m / NOV 01st
• Memecoin $MEME / ~$47m / NOV 01st
Sourced from Tokenomist

Funding

• ⭐️ Nillion raises $25m in funding led by Hack VC.

• Sapien AI raises $10.5m in Seed funding led by Variant.

• PumpBTC raises $10m in Seed funding led by SevenX Ventures & Mirana.

• Nitro Labs raises $4m in Seed funding led by Lemniscap.

• Magma raises $3.9m in Seed funding.

• KRNL Labs raises $1.7m in Pre-Seed funding.

• Native raises an undisclosed amount in Seed funding from Nexus Mutual.

• DuckCoop raises an undisclosed amount in funding from Gate Labs.

The Degen Farmer