Today: Visa Taking Crypto Mainstream 💳🎰✌️

Author

Valko
September 05, 2023

Today’s Top Stories ⌐◪-◪

  • 💳 Visa adds stablecoin settlement to Solana

  • 🎰 Stake, the largest crypto casino, gets hacked for over $41.5M

  • ✌️ Nima Capital rugs, dumping $9M of SYN tokens on the market

Visa expands stablecoin settlement options to Solana

The company said it already moved millions of USDC over the Solana and Ethereum blockchains to settle fiat payments through VisaNet.

⌐◪-◪ → If Solana’s reliability issues are resolved, then this upgrade is a big deal. It allows merchants to transact at virtually no cost with sub-second settlment speeds. Visa is clearly choosing to adapt, not die.

Crypto Betting Platform Stake Compromised in $41 Million Exploit

Despite its significant revenue and a $100 million endorsement deal with Drake, Stake has abysmal security.

⌐◪-◪ → Self-custody is like owning a gun. It’s arguably safer, and arguably not - you have to know what you are doing. Sadly, events like this scare off new entrants. We need more self-custody education.

Nima Capital goes dark after dumping 9M SYN tokens, community calls it VC rug

The VC firm rug pulled its users just 8 months before the agreed government proposal. This became evident after Nima’s website went offline and the project also locked their Twitter account.

⌐◪-◪ → Spicy take: This is exactly why we need private blockchains. To be clear, I don’t endorse Nima’s decision , but rather, I believe private businesses should be able to operate, well, privately.

Peripheral Vision ⌐◪-◪

Crypto & DeFi

  • Ethereum upgrades could allow nodes to run on phones

  • SBF being protected (or extorted) by Asian gang in prison

  • Liquid staking crushing bear market with $20B in TVL

  • Discord adds hyperlinks, which create huge security concerns

  • Filecoin onboards new customer, the Australian Cardiac Institute

  • Lido contributor requests $1.5M for Solana liquid staking

  • Cronos Labs kicks off 3rd cohort of $100M crypto accelerator

  • Chronicle, the second largest oracle, expands to other networks

  • PondX, a DEX aggregator, adds SHIB to its list of tokens

  • Qredo fires 50 employees to save 35% in annual expenses

Wall Street

  • 41% of traditional exchanges without crypto services intend to add them

  • Jump Crypto employees leave to start Douro Labs, focused on Pyth Network

  • Tether emerges as the top buyer of US Treasury bills with $72.5B

Legal & Regulatory

  • Harvard researcher insists on taxation in the metaverse

  • Coinshares’ institutional investors are buying more Solana than Ethereum

Rest of the World

NFT

  • Casio G-Shock issuing free-to-claim avatar wearable NFTs

  • Tezos Foundation announces first $1M arts fund winners

  • Sorare launches AR-equipped 3D football player cards

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