The Block
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.
Quick Take Kraken CEO David Ripley shares how Kraken is expanding its product suite to meet growing institutional demand.
Quick Take Rep. John Rose introduced his bill on Thursday, calling it the Bridging Regulation and Innovation for Digital Global and Electronic Digital Assets, or the “BRIDGE” Digital Assets Act. Rose said the purpose of the committee would be for the SEC and CFTC to give advice on their rules and regulations related to crypto.
Quick Take House Financial Services Committee Chair Patrick McHenry and two other Republican lawmakers asked SEC Chair Gensler to hand over documents involving the agency’s consideration of political idealogy for prospective employees. Lawmakers said they found out about the SEC’s potentially unlawful hiring practices in an email correspondence between Gensler and Dr. Haoxiang Zhu, the SEC’s director of trading and markets.
eToro settles with the SEC for $1.5 million and agrees to pare back its crypto arm significantly.Grayscale launches a new XRP closed-end fund, seeing the cryptocurrency jump 8%.Standard Chartered says bitcoin’s price could hit a record high by year-end, regardless of the U.S. election outcome.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
