The Wallet Report #24
Top Stories
Binance's $4.3 Billion Settlement and CEO's Guilty Plea : U.S. officials have announced a $4.3 billion settlement with cryptocurrency exchange Binance and its CEO Changpeng Zhao (CZ), who will plead guilty to a felony charge. This settlement addresses criminal and civil cases related to Binance's lack of safeguards against sanctions and its involvement in illicit financial activities. The agreement includes penalties paid to various U.S. government departments and imposes monitoring and reporting requirements on Binance. Following this, CZ has stepped down as CEO of Binance. (link)
Sam Altman's Return as OpenAI CEO : Sam Altman is set to return as CEO of OpenAI following a recent agreement, with a new board chaired by former Salesforce co-CEO Bret Taylor. This move comes after Altman was initially removed by OpenAI's non-profit board, leading to significant internal upheaval. The new board arrangement also includes former Treasury Secretary Larry Summers and Adam D'Angelo of Quora. An independent investigation into the events leading up to Altman's ouster is planned. This resolution follows intense support for Altman from OpenAI employees and discussions involving major stakeholders like Microsoft. (link)
OpenAI's AGI Breakthrough : The ousting of Sam Altman as CEO of OpenAI was reportedly linked to the development of a breakthrough AI model, Q*, potentially a major step towards Artificial General Intelligence (AGI). OpenAI staff researchers raised concerns about the ethical and safety implications of this advancement, contributing to the boardroom drama. Q* is said to have the ability to perform complex mathematical tasks, indicating significant advances in AI reasoning capabilities. Altman likened this development to the impact of the first iPhone, highlighting its potential transformative effect on various fields. The situation underscores the importance of addressing ethical and safety issues in rapidly advancing AI technologies. (link)
Web3 Gaming
Ubisoft is partnering with Animoca Brands to add their NFT game "Champions Tactics: Grimoria Chronicles" to Animoca's Mocaverse, a Web3 player program. This collaboration, part of Ubisoft's broader push into NFT and crypto gaming, aims to enhance user engagement and awareness in the blockchain gaming sector. (link)
Fusionist is launching "Fusionist Beta II: Galactic Duel" on Steam, introducing player vs. player modes. Participants can win various rewards including NFTs. Running from November 22 to December 13, 2023, this launch is part of Fusionist's expansion in the increasingly popular crypto gaming sector. (link)
The Aavegotchi DAO has introduced an interactive game in The Sandbox, developed by Gotchi French Army Studio. This game bridges the Aavegotchi and The Sandbox worlds, offering rewards and special events for players. The collaboration includes unique features like avatar integration and community-focused contests and airdrops. (link)
Matr1x : Singapore's NFT gaming company Matr1x has raised $10 million, totaling $20 million in VC funding, for its mobile shooter game "Matr1x Fire". The game, compared to "Valorant" but unique in its gameplay, aims to develop an esports scene and has released NFT collections with more planned, including membership and in-game benefits. (link)
Decathlon has launched the Rockrider Geocaching Game, a virtual reality project combining physical outdoor activities with digital experiences using the Tezos blockchain. This initiative, involving 1,000 digital treasures in France and Germany, enhances outdoor exploration and connects users to the Rockrider community. The game demonstrates Decathlon's commitment to integrating web3 technology into its traditional business model. (link)
NFTs
The Cool Cats NFT collection is featured in the Macy's Thanksgiving Day Parade with a balloon of its characters. This event aligns with the launch of their new YouTube series and a special hoodie release. Despite a drop in value amid market challenges, Cool Cats is expanding across blockchain networks and into gaming licenses. (link)
Blur : A pseudonymous NFT trader claimed approximately $11 million in tokens during Blur's season 2 airdrop. This airdrop is part of Blur's strategy to attract users to its NFT marketplace. Despite the large rewards distributed, some high-profile users expressed dissatisfaction with the amount received. The airdrop has sparked discussions about the tactics used by traders to maximize their rewards. (link)
10101 Art / Banksy's : 10101 Art is introducing fractional ownership of Banksy's "Turf War" through NFTs, starting November 27, making high-caliber art more accessible. This move is part of a trend in digital art ownership, alongside developments like Nike's NFT-linked sneakers in collaboration with RTFKT. (link)
CoinGecko, a crypto data aggregator, has acquired NFT data startup Zash, marking its first acquisition. CoinGecko aims to integrate Zash's NFT data into its platform by next year. Zash, known for providing NFT data across various marketplaces and blockchains, was chosen for its comprehensive coverage and product quality. The Zash team will join CoinGecko, but the deal's financial details remain undisclosed. (link)
Vincent van Gogh : Two NFT artworks inspired by Vincent van Gogh have sold for over $2.5 million combined, revitalizing interest in the NFT market and classical art NFTs. One NFT sold for $1.3 million, the other for $1.27 million, both in Bitcoin. This surge in Van Gogh-themed digital art sales highlights the increasing intersection of traditional art and modern technology in the digital collectibles space. (link)
DeFi
Uniswap DAO is exploring a proposal to enhance the voting power of active but "underrepresented" delegates by distributing 10 million Uniswap tokens from its treasury. This move aims to improve governance participation and accountability within the Uniswap community. (link)
Spool Finance : DeFi Protocol Spool Finance has released version 2 of its DeFi product, focusing on regulatory compliance to attract institutional investors. The update, advised by a Swiss law firm, offers automated yield strategies and features like KYC adherence, aiming to bridge traditional finance institutions with decentralized finance. (link)
Stakin/ ClayStack : Stakin collaborates with ClayStack to improve liquid staking in DeFi, focusing on enhancing Ethereum's staking process. This partnership aims to make staking more efficient, secure, and accessible, contributing to a more decentralized DeFi ecosystem. (link)
Credefi : EU-based DeFi app Credefi has integrated with the XRP Ledger to offer enhanced lending services, allowing XRPL users to provide loans to vetted companies. This move aligns with XRPL Foundation's focus on real-world asset-linked lending and aims to expand global DeFi adoption. (link)
Panoptic, a DeFi protocol on Uniswap, has raised $7 million to develop its perpetual options decentralized exchange platform. This funding, intended for further development and an Ethereum mainnet launch, aims to enhance DeFi trading strategies through perpetual options. (link)
One more thing!
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