The Wallet Report #10

The Wallet Report #10

Top Stories

Polygon zkEVM, an Ethereum rollup on the Polygon network, is experiencing rapid growth with record daily transactions and a surge in unique users. It offers unparalleled security and scalability, playing a crucial role in optimizing Ethereum network scaling. (link)

SEC : The SEC's recent actions against Coinbase and its suggestion to stop trading support for all crypto assets except Bitcoin raise doubts about the future of altcoins in the U.S. However, it also indicates that Bitcoin may receive a favorable regulatory treatment, potentially leading to the approval of a Bitcoin ETF. This could make retail trading of most crypto assets impractical in the U.S. and has significant implications for the crypto industry in the country. (link)

Binance, facing regulatory challenges and job cuts, now risks a major financial loss as FTX seeks to claw back a $2.1 billion payment made as part of a buyout deal in July 2021. The payment has been a point of contention and linked to FTX's collapse. This development could further impact Binance's business, while providing potential relief for FTX creditors. (link)

IRS / crypto staking : The IRS clarified that cryptocurrency staking rewards should be included in taxpayers' gross income for the same taxable year, based on the rewards' fair market value at the time of receipt. This aligns with their treatment of staking income similar to mining income. (link)

Web3 Gaming

Yuga Labs acquired Roar Studios, a metaverse startup known for its immersive media experience called "Roar." This move will accelerate the development of Yuga's Otherside metaverse, offering new ways for communities to connect and express themselves within the virtual realm. Roar Studios' innovative technology and expertise will enhance Yuga's vision for the metaverse ecosystem. (link)

'The Boys of Summer' : Artist Mitchell F. Chan is creating a data-heavy, browser-based game called "The Boys of Summer" on the Ethereum blockchain. Players can own and trade digital assets, and the game explores players' lives beyond the diamond through statistics. The project aims to merge art, video games, and NFT culture. (link)

The British Museum/The Sandbox : The British Museum joins The Sandbox metaverse, offering users immersive experiences and collectibles based on its collections. Players can explore human history, art, and culture from home. The metaverse also includes experiences from other brands like Doctor Who and Top Gear. (link)

Legends at War, the popular mobile game by Solert Games, is launching a blockchain version on the Avalanche network, incorporating NFTs for a unique in-game economy. This collaboration with Ava Labs marks a significant step in reshaping the gaming industry with decentralized solutions and player-centric gameplay. (link)

Ultra, a crypto gaming startup, is launching Ultra Arena, an Esports tournament platform on its blockchain. Players can compete in popular video games and win rewards in tokens or NFTs. The platform offers opportunities for both professional and amateur gamers, with a focus on traceability and cryptographic features to enhance the gaming experience. (link)


Etihad Airways is expanding its EY-ZERO1 NFT collection, offering benefits like priority check-in and lounge access. The upcoming "Horizon Club" Web3 loyalty program will allow NFT holders to earn Etihad Guest Miles by staking their assets, redeemable for flights and upgrades. (link)

Starbucks launched its "Green Apron" NFT collection on Nifty Gateway. The limited edition collection of 5,000 NFTs will be based on the Polygon blockchain and priced at $100 each. The first phase is reserved for Starbucks members, and the second phase is open to the public. (link)

Gucci Material NFT holders can exchange their tokens for a Gucci wallet or co-branded duffle bag with 10KTF. The move is a play-to-earn model bridging the digital and physical worlds, offering rewards to NFT holders and introducing them to Gucci. Other luxury brands have also offered perks to their NFT holders. Collaborations like this capitalize on exclusivity and rarity. (link)

Lacoste has launched a virtual store with an immersive shopping experience. UNDW3 NFT holders get exclusive access to an underwater VIP space with unique apparel collections and AR features. Emperia developed the digital storefront, demonstrating an innovative approach to e-commerce and customer loyalty. (link)

Reddit has launched its Gen 4 Collectible Avatar series, featuring colorful NFTs of its iconic "Snoo" character. The collection includes designs from 100 artists and implements measures to prevent bot activity. Prices range from $2.49 to $199.99 on the Polygon network. The NFT marketplace was introduced in July on digital wallet Vault, attracting a large user base.(link)


Curve Finance, a DeFi platform, suffered a cyber attack due to a smart contract bug, losing over $42 million. Trading of its token was halted, and the value of the token dropped 13%. An ethical hacker recovered $5.4 million of the stolen funds. The incident raised security concerns but remains optimistic about the platform's future. (link)

DeFi protocols are taking precautions to avoid potential risks caused by Curve founder Michael Egorov's massive borrowings. The DAO governing Abracadabra implemented measures to prevent accidental selling of CRV tokens, while other teams are enhancing incident response strategies. Nexus Mutual expects an influx of claims after the Curve attack. Overall, the DeFi community remains cautious about Egorov's financial situation and its potential impact. (link)

SushiSwap integrates with Core blockchain, providing cross-chain functionality and DeFi services. Core's consensus mechanism combines PoW and PoS for privacy and scalability. SushiSwap users gain access to liquidity pools and cross-chain swaps. (link)

Fireblocks / Astar Network :  Fireblocks has integrated with Astar Network, allowing over 650 banks and institutional investors to access and manage digital assets securely on the Astar platform. The collaboration aims to boost institutional adoption of DeFi on Astar and offers multichain access to decentralized applications on Ethereum and Polkadot ecosystems. (link)

MakerDAO's proposal to introduce the Enhanced Dai Savings Rate (EDSR), temporarily increasing DAI interest rate to 8%, has been approved with 99.93% support. The EDSR will gradually decrease over time as DSR utilization increases. This aims to reward early adopters and drive DSR adoption. (link)

One more thing !

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