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- 😬 The $37 Million Mishap
😬 The $37 Million Mishap
PLUS, Rootstock has been cooking quietly.
YEET.com has been doing some cool stuff lately in the crypto casino space, so we’re giving it a shout-out for anyone who’s been meaning to check it out.
They’ve been putting out a bunch of fun, crypto-themed games with plenty more coming. There’s a mix of quick spins and deeper plays, so you can poke around and see what you like.
It’s easy to jump in. Just hit the link, sign up and have a look around.
Worth exploring if you haven’t already. And as always, gamble responsibly.
GM!
Before we get into the commentary, first and foremost, a very happy Thanksgiving. Appreciate y’all sticking around and taking out the time to read this newsletter every time it lands in your mail box!
The past few days have been brutal, ngl, but knowing that we’re in this together does take the edge off.
On that very note, the market has registered a Thanksgiving celebratory pump. BTC managed to sneak above $91k, but surprise surprise, last year around this time, we were at ~$96k.
Nevertheless, CT is expecting to see some more respite in the coming days owing to the US market structure bill. Trillions are expected to flow into the ecosystem once the bill passes. Big talks, I know!
The bill, as such, is designed to establish clear regulatory guidelines for digital assets. It’ll define the roles of the SEC and CFTC, support tokenized assets, stablecoins, and 24/7 trading.
The banking and agriculture committees will vote in December after which the bill will be brought to the Senate in early 2026 for Trump to give his final go ahead nod.
Brain Armstrong has also mentioned that the bill is nearing its passage as 90% of the issues are already take care of and the remaining 10% will also follow suit.
It’s time to get the foundation strong now. Once that’s done, we can shift gears and accelerate.
Meanwhile, Upbit, Korea's largest crypto exchange, suffered a $37 million hack earlier today prompting a halt in withdrawals from the exchange.
The exchange will compensate damages to user assets using its reserve assets. This means nothing will go out of customer pockets.
👇 And if you haven’t yet, hit subscribe below 👇
The important bits.
Dynamic to power wallets on Zumi, details here.
Kyan’s trading competition is open for another 2.5 weeks, details here.
How to get started with Saga, check this.
Kintsu’s sMON is now live on Euler, details here.
$27+ million has been swapped into and on Monad using Jumper, details here.
Even more important bits.
Naver and Upbit to pour $7 billion into AI, blockchain, read here
SpaceX transfers $105 million in Bitcoin to unmarked wallets, read here.
Ethereum’s gas limit increased from 45M to 60M on November 25, check here.
Liquidity tightening across AI and crypto “could reverse in the coming weeks,” says Cathie Wood, read here.
S&P Global Ratings downgrades Tether’s USDT stability assessment from “Constrained” to the lowest tier, read here.
Charts and stats of the day.
BTC: Large deposits on exchanges increase, chart here.
MSTR looks oversold, chart here.
Solana continues to surpass all chains in monthly wBTC volume, stats here.
ICYMI.
Today’s bulletin:
Telemetry data of the day.
Top trending tokens for the last 24h:
If you want to access more of this type of data and trade freshly graduated tokens on PumpFun or Bonk, visit Telemetry here (it’s free).
TLDR: Rootstock operates as a merged-mined sidechain that brings full EVM smart-contract capability to Bitcoin.
At the minute Rootstock fosters >25% of all Bitcoin DeFi.
rBTC powers DeFi in Rootstock’s ecosystem of 200+ dApps and protocols. When BTC enters the Rootstock network, it becomes rBTC, which uses a decentralized peg secured by Bitcoin’s hashpower.
Using rBTC, you can tap into non-custodial lending on Tropykus, trade and manage liquiduty on Oku, swap via Sushi, and explore yield strategies via Beefy, turning idle BTC into something actually productive.
The team is also expanding into the institutional world. Rootstock Institutional rolls out this December, with the aim to unlock yield opportunities for dormant institutional BTC.
This will happen in two phases. Initially, we’ll see integrations with LayerBank, Midas, Solvl, etc. This will open the doors for institutions to access onchain liquidity.
Then, in the next phase, regulated vault strategies will come into picture. They’ll be designed to provide both Bitcoin-denominated and dollar-pegged returns.
Institutional bags or not, EOD your holdings oughta “work as hard as possible," and Rootstock enables exactly that.
Petra, AI social graph for crypto.
Black Hole, a privacy protocol for AI agents on Virtuals.
To save you doom scrolling.
All the best for dinner!
If you’re confused about the markets rn, go watch our latest analyst roundtable. Like our HoR says, “Zoom out, lads. Just keep zooming out until it fits your bias!”
Lavina, Edyme 🫡
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