The Block
Quick Take Regulators have acknowledged the unique benefits decentralized physical infrastructure networks (DePIN) bring to the table, according to Greg Osuri, the CEO of Akash, one such DePIN protocol. In a recent interview, Osuri said one of his goals is to convince regulators that DePIN should be overseen differently than other crypto sectors, and referenced a “productive meeting” held with a chief staffer from the U.S. House committee that regulates commerce and trade. Akash and its competitor InFlux T
Quick Take The Avalanche Foundation has reached a deal to repurchase nearly 2 million tokens sold to the Luna Foundation Guard, an organization that supported the since-collapsed Terra ecosystem, in a $100 million dollar April 2022 deal, pending court approval, the firm announced. The financial details of the deal weren’t disclosed, but the tokens are currently worth over $55 million at full price.
Quick Take A new battle royale game that plans to integrate crypto features through an Avalanche Subnet has gained in popularity online, racking up viewers on streaming site Twitch and briefly topping the list of popular free-to-play games on the Epic Games Store. While its crypto features have yet to launch, developer Gunzilla plans to utilize the network to run the game’s in-game economy while also opening up its features to other developers.
Quick Take A new proposal would see Arbitrum’s DAO recall nearly $120 million worth of tokens from the organization’s Gaming Catalyst Program after its apparent failure to meet several deadlines outlined in its original proposal. The co-founder of Offchain Labs, Arbitrum’s developer, responded that the fund’s operations are “super complicated and won’t happen overnight” in a post on X.
Quick Take At the last minute, Ryan Salame’s lawyers asked the court if he could start his prison time on Dec. 7 to get medical care after being injured by a dog over the summer. The judge denied Salame’s request and said he appears to have “substantially recovered,” pointing to a recent interview he did with Tucker Carlson.
Quick Take Evan Cheng, the co-founder and CEO of the company building the Sui blockchain, discussed the company’s upcoming SuiPlay0X1 handheld gaming device and other topics in an interview at the Mainnet conference. Cheng said the SuiPlay0X1 is a “software play,” rather than a hardware play, and counts “disruptive developers” among Sui’s most important assets.
Quick Take deBridge has enabled Hooks, enabling trustless cross-chain data exchange in real-time, with Solflare Wallet and Zeta Markets among its launch partners. As an example, the feature means an application running on one blockchain can now receive deposits from another network in a single transaction, the team explained.
The DeFi project, backed by former President Donald Trump and his family, will launch the public sale of its WLFI tokens on Tuesday.The project opened its whitelist on Sept. 30 and later said “thousands” had signed up.
Quick Take According to Federal Election Commission filings, Chris Larsen made that $1 million donation on Aug. 14 in a “non-contribution account; in-kind: 1,754,815.29 XRP not liquidated.” Former New York City Mayor Michael Bloomberg, venture capitalist Reid Hoffman and crypto exchange Coinbase have made donations over the past year to the PAC.
Michael Saylor said MicroStrategy’s endgame was to become the world’s leading bitcoin bank with the potential to reach a trillion-dollar valuation.Paradigm has invested $20 million in Ithaca, a spinoff from the venture capital firm that is building a Layer 2 blockchain called Odyssey.Blockchain analytics platform Arkham plans to launch a crypto derivatives exchange in November, targeting retail investors in an attempt to compete with giants like Binance.The following article is adapted from The Block’s new
