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Hello, crypto fans! This week, we’ve got Coinbase scoring big with the NBA, Kraken’s DeFi leap with Ink, and Gemini expanding in Singapore. Plus, Meta’s new AI moves, including a facial recognition tool to tackle deepfake scams, and Apple’s much-anticipated (but so-so) AI debut. Let’s dive in! 🌐✨
Coinbase is diving back into sports sponsorships, rekindling the crypto-sports romance that FTX’s collapse temporarily iced over. Now backing the Golden State Warriors—formerly partnered with FTX—Coinbase aims to pump up the fan experience with blockchain tech. 💥
Already involved with the NBA, Coinbase is also sponsoring the Canadian Football League (@CFL) and Melbourne Marathon Festival, showcasing its broader commitment to sports. With Crypto.com joining the trend, are we witnessing a full-court crypto comeback to game day? 🤾
Kraken is gearing up to launch its own blockchain, "Ink," in early 2025, promising users a smooth dive into DeFi with trading, lending, and borrowing services—all without a middleman. 💸
Designed to bridge the gap between centralized exchanges (CEXs) and DeFi, Ink will allow users to seamlessly switch between both worlds within the Kraken Wallet app 📲making the DeFi space simpler and more accessible. With testnet access for developers this year and no native token planned, Kraken’s Ink aims to make DeFi as easy as a splash 🖋️
Vietnam has unveiled an ambitious National Blockchain Strategy aimed at positioning itself as a regional leader in blockchain tech and innovation. Announced by the Ministry of Information and Communications, the plan focuses on building solid legal frameworks, infrastructure, and promoting international partnerships to drive the “Fourth Industrial Revolution” forward. 💡
With goals like developing blockchain brands, training talent, and creating testing centers in major cities, Vietnam is setting the stage for a blockchain-powered future that aligns with global standards while ensuring digital asset security and regulation. 📜
Zanzibar, a semi-autonomous region of Tanzania, has launched its National Blockchain Sandbox to give tech startups a safe space to develop and test groundbreaking blockchain solutions. 🛠️
This initiative focuses on projects that enhance financial inclusion, digital identity, and certification, offering support through government-backed training and expert mentorship. 🧑💻 With tech support from Dubai’s LedgerFi IT and the EVM-compatible XDC network, Zanzibar is rolling out the welcome mat for blockchain innovation, aiming to become a tech-friendly hub in East Africa. 🌍✨
Crypto exchange Gemini just scored a major win with in-principle approval for a Major Payment Institution license from Singapore’s central bank, bringing it one step closer to offering more services in the country. 🎉
This preliminary nod from the Monetary Authority of Singapore means Gemini can soon provide digital payment tokens and cross-border transfers, expanding its Asia-Pacific presence. With plans for a bigger office and local hires underway, Gemini is doubling down on its commitment to Singapore, which it calls the “heart” of its regional operations. 💼
Legion has unveiled a new merit-based platform for initial coin offerings (ICOs), helping crypto projects connect with reputable retail investors across Europe. 🛠️ The system uses a unique reputation score, built on Stanford’s EigenTrust algorithm, that evaluates investor history, social influence, and developer activity to weed out bots and uncommitted buyers.
Legion aims to bring real trust into crypto fundraising, with reputable investors adding value through feedback, marketing, and a strong sense of community — becoming the "Airbnb" of crypto fundraising! 🌐
Sequoia Capital is set to earn a cool $100 million with payments giant Stripe’s massive $1.1 billion acquisition of Bridge, a stablecoin payments platform, check out what we wrote about the venture funding landscape last week for more context! Sequoia, holding a 16% stake after investing $19 million in Bridge’s Series A round last year, isn’t the only venture firm cashing in. Notable backers include Ribbit Capital (10%), Index Ventures (6%), Bedrock Fund Management (6%), and Haun Ventures (4%). This acquisition brings a rare, rapid return for these firms, especially considering the broader slowdown in venture funding since 2022.
Bridge, often dubbed the “crypto industry’s answer to Stripe,” offers stablecoin-based payment solutions that provide businesses an alternative to traditional credit card networks and SWIFT. The startup was founded in 2022 by former Coinbase executives Zach Abrams and Sean Yu and has quickly made strides, recently hitting a $14 million run rate, which is still on the rise. Stripe’s interest aligns with its co-founder John Collison’s promise to integrate stablecoins, positioning the company firmly in the crypto space. 🏦
While the acquisition awaits regulatory approval, Stripe’s deal with Bridge could become one of the largest in crypto history, signaling a landmark moment for stablecoins in mainstream financial networks. For Stripe, this acquisition offers a robust platform for diving into crypto payments, and for Bridge, it marks a swift ascent from promising startup to major industry player. 🧑💻
Hong Kong’s Monetary Authority (HKMA) is making waves with Project Ensemble, a tokenization initiative that now includes Brazil’s Drex CBDC pilot and Thailand’s Project San. 🌐 This collaboration will test advanced cross-border systems like payment-versus-payment (PvP) and delivery-versus-payment (DvP) for secure trade and carbon credit settlements. With each country bringing unique tech and regulatory insights, Project Ensemble aims to build a tokenization framework that could redefine global finance.
By joining forces with central banks and tech giants, Hong Kong is setting the stage for a new era in tokenized assets and payments. 🚀
Hong Kong Exchanges and Clearing (HKEX) is launching the HKEX Virtual Asset Index Series, set to provide real-time, Asia-Pacific pricing for Bitcoin and Ether starting November 15. 🗓️ By offering a transparent, volume-weighted price index, HKEX aims to bring more accuracy and confidence to crypto markets just as Hong Kong's Securities and Futures Commission (SFC) prepares to issue additional licenses for digital asset exchanges.
This dual push from HKEX and the SFC positions Hong Kong as a key player in regulated crypto trading, helping investors make better-informed choices while boosting the local virtual asset ecosystem. 🔍
Shift4, known for its work with nonprofits through The Giving Block, is now rolling out crypto payments across its entire merchant network, letting businesses from hotels to luxury retailers accept crypto and stablecoins. 🚀
By tapping into markets like luxury goods, regions with low credit card use, and industries battling chargebacks, Shift4 aims to make crypto payments accessible and appealing to a wider audience. With easy wallet integration through Mesh and a promise that “merchants will never touch crypto,” Shift4’s crypto service will be available globally by 2025, transforming digital payments for over 200,000 merchants. 📲
Fintech innovator FV Bank is making a splash by launching crypto-integrated Visa debit and corporate cards, letting users access both fiat and digital asset balances on a single card. 🌐 Announced at the Money 20/20 conference, these cards allow deposits from stablecoins like USDC and USDT as well as cryptocurrencies like Bitcoin, Ether, and Dogecoin.
By linking traditional banking with digital assets, FV Bank’s Visa cards provide seamless spending for crypto holders, a trend that’s catching on fast as more card companies like Visa and Mastercard dive into crypto-friendly options. 📲
Peter Thiel’s Founders Fund has helped Infinex’s “Patrons” NFT collection hit a stunning $67.7 million in investments, just six weeks after launch — a surprising feat given the bear market in NFTs. 🐻 Unlike traditional NFTs, Patrons NFTs can be withdrawn and resold, with initial listings on OpenSea starting at 1.22 Ether (about $3,086).
Backed by major players like Solana Ventures and Moonrock Capital, Infinex’s non-custodial platform aims to fuel a “post-CEX era” by making decentralized access more seamless. With hefty investment pouring in, Infinex shows that even in a down market, NFTs are still drawing serious attention from big names. 🌐
Gelato, a network focused on automating smart contracts, just raised $11 million, bringing its total funding to a cool $23 million. This latest round will help Gelato scale its platform, making it easier for companies to roll out blockchain apps, with Kraken’s upcoming Ink blockchain joining as a major new customer. 🛠️
By teaming up with Ink, Gelato aims to address the big challenge in Web3: making transactions cheaper and faster for businesses going onchain. With new backing from heavyweights like Animoca Brands and a mission to “scale onchain compute,” Gelato is ready to sweeten the deal for Web3 companies worldwide. 🍨
Alchemy Pay is stepping up with plans to launch its own layer-1 blockchain, Alchemy Chain, designed to let users pay gas fees in either fiat currency or ACH tokens — no more juggling wallets for every transaction! 🔗💸 Built on Solana’s Virtual Machine architecture, Alchemy Chain aims to streamline interactions between traditional offchain storage and blockchain transactions, creating a smooth path where fiat and crypto coexist without bumps.
Alchemy is also adding some fun with new tools for memecoin projects, including a launchpad and a Meme Telegram bot, making it easier for meme-based ventures to thrive. 🐕📈 Plus, with recent integration with Samsung Pay, crypto spending just got more accessible for users everywhere! 📲
The Bank for International Settlements (BIS), along with central banks from Australia, Korea, Malaysia, and Singapore, is testing Project Mandala, a system designed to make cross-border transactions seamless and regulation-friendly. 🔍
By using zero-knowledge proofs (ZK-proofs), Mandala can confirm compliance across multiple jurisdictions without revealing sensitive data — a big privacy win for global finance! This proof-of-concept phase involves banks using Mandala nodes to streamline compliance checks automatically, aligning with G20’s goal of smoother cross-border payments. If successful, Mandala could set a new standard in secure, automated global transactions. ✅
DeFi platform 1inch has teamed up with the Bruce Lee Family Company to launch “Take crypto seriousLee,” a campaign aimed at making DeFi more accessible by connecting it with Bruce Lee’s values of efficiency and precision. 🥊
With an ad campaign focused on shifting crypto’s image from speculative to purposeful, the partnership looks to bring a fresh, serious twist to crypto through Lee’s iconic legacy. 1inch co-founder Sergej Kunz sees this as just the beginning of Lee’s impact in Web3, with plans for future collaborations to bring DeFi and Lee’s philosophy to the mainstream. 🔊
The Coinbase-backed layer-2 network, Base, briefly surged to the top in stablecoin transaction volume, surpassing heavyweights like Solana, Ethereum, and Tron on October 26. 🚀 Base claimed an impressive 30% of the market’s stablecoin volume that day, driven by a record 5.6 million daily transactions.
Circle CEO Jeremy Allaire noted that if this trend continued, Base could reach a staggering annual run rate of $6.6 trillion in USD Coin (USDC) transactions alone! Though Solana has led year-to-date with an $8.6 trillion stablecoin volume, Base is showing it’s ready to compete in the fast lane of DeFi and stablecoin transactions. 🌐
In a sci-fi twist, neuromorphic computing breakthroughs might make blockchain transactions possible on Mars by 2026, paving the way for future Martian colonists to manage assets like Bitcoin or NFTs without Earth-based infrastructure. 🪐 Neuromorphic chips, designed to mimic brain-like efficiency, could process transactions locally in real-time, tackling Mars’ 44-minute signal delay for data sent to and from Earth.
Although they won’t speed up communication itself, these chips could enable crypto transactions in batches, allowing Earth-Mars financial exchanges to keep up with interplanetary pricing. So, Mars explorers, you might be able to buy that off-planet pizza with crypto after all! 🍕🌌
Bitstamp has secured a Multilateral Trading Facility (MTF) license from Slovenia’s Securities Market Agency, allowing it to offer advanced crypto derivatives like perpetual swaps to institutional clients across Europe. 🏦
Etherscan’s new v2 API beta is here, making life easier for developers with unified access to over 50 Ethereum-compatible blockchains. 🛠️ Instead of juggling multiple API keys, devs can now use a single API key with a “chainID” parameter to pull data from blockchains like Ethereum, Polygon, and BNB Smart Chain in one go. This update simplifies multichain app development, cuts down on setup time, and remains compatible with older versions, so developers can transition seamlessly. With v2, Etherscan is taking a big step toward unified blockchain access, streamlining Web3 data for everyone. 🚀
Fireblocks has kicked off a $1 million grant program to encourage developers to build on PayPal’s PYUSD stablecoin, offering grants up to $60,000 per project. 💡 This initiative follows a successful beta with KoraPay and Bridge, and it’s geared toward real-world use cases that leverage PYUSD’s stability and Fireblocks’ top-notch security. By combining PayPal’s stablecoin with Fireblocks’ secure blockchain infrastructure, the program aims to inspire new blockchain-based payment solutions, positioning stablecoins as the next “killer app” in crypto payments. 🔐💰
Hong Kong’s Financial Services and Treasury Bureau (FSTB) has introduced a “dual-track” approach to AI in finance, aiming to harness AI’s potential while managing its risks. 🚀 This policy outlines ways to boost efficiency, improve customer service, and enhance crime detection, all while safeguarding jobs, intellectual property, and stakeholder rights.
The FSTB, in collaboration with the Securities and Futures Commission (SFC), will set up a regulatory framework for responsible AI use. 📊 Next month, the SFC will also release guidelines on AI’s role in crypto OTC trading, making Hong Kong a pioneer in both AI and crypto regulation. 🌐
Coinbase has launched “Based Agent,” a new tool that lets users create their own AI-powered crypto agents in just three minutes. With integrations for onchain tasks like trading, staking, and more, Based Agent is set to make AI accessible for crypto users, bringing to life what Coinbase Ventures calls the “Agentic Web” — a future where autonomous AI agents transact freely on Web3. 🌐 Built with the help of OpenAI and Replit, this tool lets users interact with blockchain autonomously, sparking a new era where bots have their own crypto wallets and can make transactions independently.
Coinbase CEO Brian Armstrong recently tested this tech, even enabling an AI chatbot to manage its own crypto wallet. According to Coinbase Ventures, AI agents will soon be so embedded in Web3 that they’ll manage everything from smart contract creation to onchain payments, with crypto becoming the main “payment rail” for these agent-to-agent and agent-to-human interactions. With AI agents poised to handle over 80% of blockchain transactions by next year, the lines between AI and crypto are blurring, heralding a transformative shift in the digital economy. 🌍💰
At the recent TechNet Indo-Pacific conference, Aerospike’s CTO Theresa Melvin warned that China might be “a decade ahead” of the US in quantum technology, suggesting that China’s hefty public investment — over $15 billion — has given it a head start. However, experts point out that spending alone doesn’t equate to progress; the US still leads in private sector quantum research, with giants like Google, IBM, and Microsoft driving breakthroughs. 💻💥
While China excels in quantum communications, the US remains at the forefront of quantum computing and encryption, crucial for defense. So, while China’s progress is notable, the US’s stronghold in high-impact areas might keep it in the lead. 🌐🏆
Meta is reportedly building its own AI-powered search engine to reduce its reliance on Google and Microsoft’s Bing, aiming to serve up fresh, conversational summaries on current events. 📰 This new tool, integrated with Meta’s suite of apps like Instagram, Facebook, and WhatsApp, will allow users to get real-time updates from Meta’s AI chatbot without ever leaving the platform. According to insiders, an engineering team has been hard at work for the past eight months creating a database of info to fuel this ambitious project.
This move follows Meta’s recent partnership with Reuters to deliver AI-curated news content, hinting that Meta may be dipping its toes back into the news world but on its own terms. 🌐
Apple’s much-anticipated AI feature rollout, Apple Intelligence, is here, but it’s not wowing everyone just yet. Early reviews of features like Writing Tools, enhanced Siri, and natural language search for Photos have been lukewarm, with some users asking, “Is that it?” 😐 And adding to the frustration, U.S.-based users must join a waitlist, while international users have to tweak settings just to get access.
Despite the rocky start, Apple promises more features soon, like instant visual intelligence in December, letting users learn about objects and places in real time. So while the launch hasn’t blown anyone away, AI-powered improvements may still be on the horizon for Apple fans. 🚀📱
A team of researchers has unveiled Centaur, a cutting-edge computational model that can simulate and predict human behavior across any scenario, from picking cereal to tackling space exploration. 🌌 Trained on the massive “Psych101” dataset, which includes 10 million choices from 60,092 people, Centaur was fine-tuned with Meta’s AI model, Llama 3.1, boosting its predictive power to outperform other cognitive models. Researchers hope that Centaur, which learns and adapts in real-time, could fast-track discoveries in science by enabling accurate human behavior simulations. 🚀
This ambitious project aims to bring Alan Newell’s vision of a unified model of human cognition to life, paving the way for new breakthroughs in understanding and replicating human thought.
Meta has struck its first major AI news deal by teaming up with Reuters, enabling real-time news integration across Facebook, Instagram, WhatsApp, and Messenger. 🎉 Starting October 25, U.S. users can ask Meta’s AI chatbot about current events and receive direct links to Reuters articles, bringing reliable news directly to their favorite platforms. This move hints at a shift for Meta, which previously downplayed news on its platforms but is now targeting users who actively seek information. 🌐
The partnership follows a trend where AI firms like OpenAI partner with news outlets to improve content accuracy and ease legal concerns over using copyrighted material.
Meta is experimenting with facial recognition tech to fight fake celebrity ads on Facebook and Instagram, targeting "celeb-bait" scams that lure users into crypto schemes with AI-generated deepfakes. 🔍 In this pilot, images in ads will be checked against official profile photos of 50,000 public figures, including stars like Elon Musk and Oprah Winfrey, and if flagged as scams, they’ll be blocked. Meta’s move comes as part of a broader effort to clean up scammy content on its platforms and restore user trust.
While effective, Meta must tread carefully due to privacy concerns and past legal troubles, pledging to delete biometric data immediately after detecting fraudulent content. This new approach shows Meta doubling down on tech solutions to tackle increasingly sophisticated online scams. 💡📵
That’s a Wrap! 🥂
From Bitstamp’s expansion in Europe to Etherscan’s multichain API, the crypto and tech world is buzzing with exciting moves. Until next week, stay tuned for more updates as innovation continues to reshape the digital landscape! 🌎📈
