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EOS Foundation can’t rely on Block.one / Eric Adams wants NYC to be pro-crypto / Ripple to launch wXRP on Ethereum (ETH)

Plus: The effects of supply chain disruptions are hitting NA BTC mining facilities.

Inside.com Part of   Network November 03, 2021

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The global crypto market cap is $2.75T 0.33%▲ with a 24-hour market volume of $136.90B 30.36%▼. Bitcoin's dominance is currently 43.09% 0.44%▼. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $62,972.18 0.28% ▼ 2 Ethereum ETH $4,596.54 0.25% ▲ 3 Binance Coin BNB $567.52 2.68%▲ 4 Solana SOL $241.08 9.56% ▲ 5 Cardano ADA $2.06 4.85%▲ Source: CoinMarketCap, 8:00 EST

EOS Foundation’s Yves La Rose called EOS a terrible investment and a failure at a virtual event. The comments were directed toward former EOS developer Block.one, who famously raised $4.2B for EOS in the largest ICO to date. More: Despite being a public blockchain with some sort of governance mechanism, Block.one has controlled the EOS blockchain for the most part. The size of the ICO and the promises given by Block.one about the product set an unrealistic expectation for EOS, which La Rose stated were knowing misrepresentations that amounted to negligence and fraud. La Rose stated that the newly created EOS Foundation hopes to cut ties with Block.one, as he believes the project can no longer rely on them for guidance.

TOP ETHEREUM NFT COLLECTIONS # Name 24h Volume 24h % 1 Axie Infinity $22.11M 1.43% ▲ 2 2+2 Genesis $9.55M - 3 CryptoPunks $5.86M 120.11% ▲ 4 Bored Ape Yacht Club $3.33M 40.58% ▲ 5 Inertial Moment $2.37M 3.97% ▲ Source: DappRadar, 8:00 pm EST

NYC Mayor-Elect Eric Adams said he wants to make New York more crypto-friendly. New York has traditionally been crypto-averse, with legislation like bit license and recent lawsuits against Celsius and Nexo. More: The mayor-elect waged friendly competition with Miami in order to prevent a “one-sided city” where certain groups could do well. Over the past 10 years, there’s been a 356% increase in tech startups in New York’s Brooklyn area. The comments were made during the second day of the NYC.NFT conference. Adams defeated Curtis Sliwa yesterday to become the second Black mayor of New York.

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🍋Fresh Funding🍋 Afterparty, NFT/Social: $3M ⮕ The Series A funding round was led by TenOneTen Ventures and Acrew Capital with participation from Palm Tree Crew, Hex Capital, and others. More: Afterparty is a creator economy, NFT ecosystem for creators to mint NFTs and engage with fans. The platform began beta testing in June and plans to launch its Ethereum-based NFT marketplace sometime this fall. Recently, Afterparty held an event for TikTok creator Bryce Hall, which brought Bryce’s social token market cap up by $250,000 and generated $12,000 in income in 24 hours. Faze Technologies, NFT/Collectibles: $17.4M ⮕ The seed funding round was led by Tiger Global and participated in by Dapper Labs, Samsung Next, and Courtside Ventures. More: Faze is a crypto platform for sports fans to collect cricket NFTs with the goal of creating a cricket metaverse. The project will host its NFT platform on Dapper Labs’ Flow (FLOW) blockchain. Faze partnered with the International Cricket Council (ICC), boasting 105 different member nations and billions of fans.

▲ TOP GAINERS # Name Price 24h % 1 IoTeX IOTX $0.1324 72.91% ▲ 2 Telcoin TEL $0.02943 62.70% ▲ 3 Amp AMP $0.07128 31.24% ▲ 4 Kadena KDA $8.38 19.30% ▲ 5 Serum SRM $8.87 15.27% ▲ ▼  TOP LOSERS # Name Price 24h % 1 Shiba Inu SHIB $0.00005549 18.99%▼ 2 Loopring LRC $1.20 13.82%▼ 3 Chiliz CHZ $0.4466 12.00%▼ 4 Enjin Coin ENJ $2.85 8.79%▼ 5 Klaytn KLAY $1.69 8.30%▼ Source: CoinMarketCap, 8:00 EST *Limited to cryptocurrencies in the Top 100

Wrapped XRP (wXRP) is set to launch on the Ethereum blockchain this December. wXRP will allow XRP holders to participate in DeFi ecosystems. More: The proposed launch of wXRP comes on the one-year anniversary of the SEC charging Ripple with $1.3B worth of XRP sales as alleged unregistered securities.  As a wrapped asset, wXRP would have a 1:1 exchange ratio with XRP. Ripple’s CEO, David Schwartz, stated in a tweet that wXRP would be “multichain,” allowing wXRP holders the ability to “shop around” for the blockchain with the lowest gas price for the execution of their smart contract needs.

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Supply chain issues have disrupted North American BTC mining firms. Riot Blockchain, Bitfarms, and Marathon Digital have all stated it's been an ongoing issue in the past couple of months. More: Riot Blockchain announced in September the order of 6,000 mining machines expected by October. So far, it has only received 1,624 machines. Bitfarms announced that it received only 40% of its Bitmain S19j Pro miners, which were expected to be delivered in early September. Marathon Digital has acknowledged the issue as well but stated that it managed to receive 15,000 mining machines in October alone.

China reported its first laundering scam involving a digital yuan wallet. The group scammed the individual for 200,000 yuan ($32,000) and attempted to use central bank digital currency (CBDC) to “clean” the funds. More: Eleven people involved in the scam were tracked down and will face criminal trials. 140 million Chinese citizens have already activated digital yuan wallets, with transactions on those wallets amounting thus far to 62B yuan ($9.7B). Like any currency, CBDCs can be used for financial crime; however, with the Chinese authorities’ ability to measure the flow of digital yuan using data analytics, the actual application of CBDC for money laundering activities is quite limited.

QUICK HITS: Learn how traditional timesheets may be costing your service organization $10,000 per billable employee.* Coinbase is testing out a subscription service that will offer zero-fee trading and customer support for its users. Binance blacklisted the wallet addresses associated with the Squid Game Token (SQUID) and is investigating it as a scam. APENFT and TRON announced a $100M “Art Dream Fund” to help talented NFT artists create culturally significant digital artwork.  The U.S. “sprint” for crypto enforcement review by the OCC, Federal Reserve, and FDIC has concluded, according to acting comptroller Michael Hsu. Crypto.com Protocol (CRO) and SUKU (SUKU) were listed on Coinbase today. Looking to shape your online story? Leverage best-in-class marketing data from Semrush.* * Sponsored Content

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Griffin McShane is a New York transplant currently living in Brooklyn, NY. He is a graduate of Providence College, where he studied both computer science and business, and the University of Maine School of Law, where he earned his JD. Beyond his work at Inside, Griffin has written articles for CoinDesk and is a member of the International Association of Privacy Professionals (IAPP). Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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