Today's Newsletter content 📃

Bitcoin Eyes $68K Amid US Jobless Claims Boost

Bitcoin rebounded to $68,000 after US jobless claims came in lower than expected for the second week, boosting the odds of a Federal Reserve rate cut in November. BTC bounced back from a dip to $65,000, with analysts noting potential resistance at $68,200. Traders remain optimistic as BTC nears key resistance levels, with hopes for a sustained breakout if the weekly candle closes above $67,900.

Ethereum ICO Whale Sells 3,000 ETH for $7.6M

An Ethereum ICO participant has cashed out 3,000 ETH, worth $7.6 million, following a previous sale of 7,000 ETH in July. This whale, who originally received 254,908 ETH during the 2014 ICO, still holds 37,000 ETH valued at around $94 million. Unlike the earlier sale, this latest move hasn't significantly impacted ETH's price, which has dipped only 2.4% in the last 24 hours, currently trading at $2,521. Ether remains up 38% over the past year.

Stablecoins Lead Crypto Adoption in Europe

Stablecoins are driving crypto activity in Western, Northern, and Central Europe, with the region accounting for 21.7% of global stablecoin usage. European traders increasingly favor stablecoins for settlements, remittances, and DeFi transactions, shifting away from Bitcoin and Ethereum. The UK, the largest crypto economy in Europe, saw $217 billion in on-chain value. Regulatory shifts, such as MiCA in the Euro Area, are expected to impact stablecoin usage, while the UK’s more flexible framework may attract more crypto finance. Stablecoins also gained traction in fintech, e-commerce, and cross-border payments.

North Korea's Lazarus Group Exploits Chrome Users with NFT Game

North Korea’s Lazarus Group launched a fake NFT game, DeTankWar, to exploit a Google Chrome vulnerability, steal crypto wallet credentials, and infect PCs with malware. The group used stolen source code from a legitimate game, tricking users with a fake website and AI-generated promotions. Discovered by Kaspersky Labs in May, the exploit was promptly reported to Google and fixed. Lazarus has been linked to over $3 billion in crypto thefts since 2009, including the infamous $600 million Ronin Bridge hack.

Nayib Bukele Donates 2 Bitcoin to Build 1,000 Schools in Honduras

El Salvador's President Nayib Bukele donated 2 Bitcoin (worth $133,000) to help build 1,000 schools in Honduras. This act of generosity aligns with El Salvador’s broader Bitcoin initiatives, which include adopting Bitcoin as legal tender and accumulating 5,913 BTC in national reserves. The country continues its daily Bitcoin purchases, integrating crypto into its economy and financial systems, while also leveraging its Bitcoin holdings for regional development projects.

Michael Saylor Backs Bitcoin Self-Custody for Those "Willing & Able"

After backlash from the crypto community over comments favoring institutional Bitcoin custody, MicroStrategy’s Michael Saylor clarified his stance. He supports Bitcoin self-custody for those “willing and able,” while also advocating for the freedom to choose between self-custody or institutional solutions. Saylor emphasized that Bitcoin benefits from all forms of investment, regardless of custody type. Ethereum’s Vitalik Buterin criticized Saylor’s earlier comments as "batshit insane," reigniting debate over Bitcoin's future in institutional and self-custody models.

Kraken Launches Ethereum Layer-2 Network Ink

Crypto exchange Kraken has introduced Ink, an Ethereum-based Layer-2 network powered by Optimism's OP Stack. Set to launch on testnet in November, Ink will offer on-chain wealth management tools and join Optimism’s Superchain, an interconnected network of Layer-2 chains. With one-second block times and interoperability with other networks, Ink aims to facilitate DeFi applications such as perpetual futures trading and decentralized lending. Full mainnet launch is expected in early 2025, following the path set by Coinbase's Base.

🤣 MEME OF THE WEEK 🤣

Thank you for taking out time to read The Web3 Watch by Central DAO

Haven't you joined Central DAO yet?