CoinDesk

Despite significant growth in the cryptocurrency market, volatility remains a persistent challenge for investors, including experienced ones. To mitigate these risks, many are turning to crypto index investing as a solution. Key points: - Crypto market continues to grow but remains volatile - Volatility poses challenges for all investor levels - Crypto index investing emerges as a popular risk management strategy Julien Vallet, CEO of Finst, highlights the increasing popularity of this approach. Index investing in crypto may offer a way to balance potential gains with risk mitigation in this dynamic market. **Consider exploring crypto index options to diversify your portfolio.**

David Lawant suggests the 2024 U.S. election and a more accommodative monetary environment could trigger the next crypto bull market. This aligns with recent industry-funded polling data highlighting crypto's growing importance to likely voters in the upcoming election. Key points: - U.S. election and easier monetary policy may spark crypto bull run - Crypto increasingly relevant to 2024 voters - Presidential candidates from both major parties mentioning digital assets The convergence of political attention and potential economic shifts could create favorable conditions for cryptocurrency growth. However, it's important to approach such predictions cautiously and consider multiple factors affecting market dynamics.

The U.S. Court of Appeals has denied the Commodity Futures Trading Commission's (CFTC) request to halt Kalshi's political prediction markets. The court stated that the CFTC failed to prove that it or the public would face irreparable harm without a stay pending appeal. This decision allows Kalshi to resume listing political prediction contracts, marking a significant setback for the CFTC's efforts to ban such markets. The ruling follows a series of legal battles between the regulator and the prediction market platform. Key points: - Appeals court rejects CFTC's request for a stay - Kalshi can now list political prediction contracts - Ongoing legal dispute between CFTC and Kalshi continues This development represents a pivotal moment in the debate over the legality and regulation of political prediction markets in the United States.

Bitwise, a prominent cryptocurrency asset management firm, has taken a significant step towards going public. The company submitted an S-1 form to the U.S. Securities and Exchange Commission (SEC) on October 2, 2024. Key points: - S-1 form is a prerequisite for issuing new securities - Filing indicates Bitwise's intention to be listed on a public stock exchange This move signals Bitwise's ambition to expand its reach and potentially increase its capital base. The filing process typically involves detailed disclosures about the company's business model, financials, and risk factors. Investors and industry observers will be watching closely as Bitwise navigates the regulatory process. The outcome could have implications for the broader cryptocurrency industry's integration with traditional financial markets. *Stay tuned for updates on Bitwise's journey towards public listing.*

A significant photography auction is set to take place in New York, featuring the collection of Ambassador Trevor Traina. The event, titled "An Eye Towards the Real," will showcase 130 lots of photographs. Key points: - Digital certificates will be issued for each lot - Certificates will be minted by Kresus on the Base blockchain - The auction is scheduled for Wednesday This innovative approach combines traditional art collection with blockchain technology, potentially setting a new standard for art authentication and provenance in the digital age. *To learn more about this groundbreaking auction and its implications for the art world, visit the auction house's website.*

Aptos {{APT}}, a Layer 1 blockchain inspired by Meta's discontinued Diem project, has expanded its offerings. The platform now supports trading of Franklin Templeton's OnChain U.S. Government Money Market Fund (FOBXX). Key points: - Aptos is a blockchain with roots in Meta's former Libra/Diem project - Franklin Templeton's FOBXX fund is now available for trading on Aptos - This addition broadens the financial instruments accessible on the Aptos network This development signifies growing integration between traditional finance and blockchain technology, potentially offering users more diverse investment options within the crypto ecosystem.

Despite a 50% decline in assets under management, Grayscale's Bitcoin Trust (GBTC) continues to generate significantly higher fee revenue compared to BlackRock's iShares Bitcoin Trust (IBIT). Key points: - GBTC's fee revenue is nearly five times that of IBIT - This performance persists even after a substantial decrease in Grayscale's assets under management - The comparison highlights the ongoing competition between established crypto investment vehicles and newer entrants This data underscores the resilience of Grayscale's business model in the face of market fluctuations and increased competition. It also raises questions about the long-term sustainability of high fee structures in the evolving crypto investment landscape. **What's next?** Keep an eye on how this revenue disparity might influence future product offerings and fee adjustments in the Bitcoin ETF market.

A CoinDesk investigation has revealed that over a dozen blockchain companies have unintentionally employed IT workers from an unnamed rogue state. This oversight has exposed these firms to significant cybersecurity and legal risks. Key points: - More than 12 blockchain firms affected - IT workers from a rogue state hired unknowingly - Potential cybersecurity vulnerabilities introduced - Legal risks for the companies involved This situation highlights the importance of thorough background checks and vetting processes in the blockchain industry, especially when hiring remote workers. Companies should review their hiring practices to prevent similar incidents in the future. **Action item:** Blockchain firms should audit their current workforce and strengthen their hiring protocols to mitigate potential risks.

Caroline Ellison, former CEO of Alameda Research, received her sentence last week for her involvement in the FTX scandal: - **Prison term**: 2 years - **Supervised release**: 3 years The sentence was handed down for Ellison's role in propping up FTX and Alameda Research. She appeared in court accompanied by her attorneys. This sentencing comes after weeks of anticipation and speculation about her potential fate. The decision reflects the court's consideration of her involvement in the high-profile cryptocurrency case.

Stablecoins are experiencing significant growth and adoption, particularly in countries outside the U.S. facing economic challenges: - Ardoino highlights the increased need for stablecoins in nations with high inflation and weak financial systems. - Recent weeks saw a $10 billion surge in stablecoin minting, boosting crypto market liquidity. - Stablecoin supply has reached all-time highs, with $170 billion in circulation. - Experts predict stablecoins will drive institutional adoption in Asia, despite potential regulatory concerns. - Bernstein reports stablecoins are becoming systemically important to the global financial economy. These developments underscore the growing role of stablecoins in addressing economic instability and financial infrastructure gaps worldwide.