The Block
Quick Take The Federal Bureau of Prisons confirmed to The Block that Caroline Ellison is in custody at the Federal Correctional Institution Danbury. Ellison was the co-CEO of Alameda Research, which was revealed to have closer than realized ties to FTX.
Quick Take Coinbase’s stock surged more than 30% in Wednesday’s session and a leveraged ETF tied to the stock doubled that performance. Leveraged ETFs are typically meant to be short-term plays for experienced traders because of the high risk involved.
Quick Take Sky voted to maintain the pivot away from the protocol’s original Maker brand following some backlash from community members. The rebranding is part of Rune Christensen’s Endgame strategy, which involves launching new stablecoins and establishing “subDAO” to build their own crypto apps and infrastructure.
Quick Take Detroit would become the largest U.S. city to accept cryptocurrency payments. Three U.S. states — Colorado, Utah and Louisiana — accept crypto for state payments.
Quick Take The Degen team is in disputes with the third-party service provider, Conduit, which used to launch its Layer 3 network following an allegedly unannounced upgrade that stalled the chain. Degen is looking to switch service providers but claims Conduit won’t hand over the multi-signature keys needed to migrate, a claim the company denies.
Quick Take Solana, which has seen strong on-chain activity over the past few months, climbed above the $200 mark to trade at $201 at one stage today. The U.S. stock markets closed at record highs on Thursday.
Quick Take X co-founder Jack Dorsey’s payment firm Block said it will increase investment in its bitcoin mining business. Block said it will cut back investments in music streaming app Tidal and wind down the decentralized web platform developer team at TBD.
Quick Take Treasure DAO members will vote on a proposal that would approve migrating the web3 gaming ecosystem from Arbitrum to ZKsync. Proposal suggests ZKsync is better “suited” to meet Treasure’s long-term plans in decentralized gaming.
Quick Take The former president said his crypto project will launch on Sept. 16 during a live video stream. In his bid for reelection, Trump has embraced the crypto community after previously holding a negative stance.
Quick Take KS Systems launches Manifest, a fee-less, on-chain orderbook built on Solana. Manifest’s founders com from Mango Markets, Dual Finance and CKS Systems. Manifest allows for simultaneous bids and offers, maximizing liquidity. HyperTree enhances key-value data efficiency on Solana’s Virtual Machine.
