Weekly Crypto Recap (Sep 24 - Sep 30)

Here’s your weekly update from Metaverse.SG, spotlighting the hottest crypto happenings of the week:

• CZ is free
• PayPal supports crypto for US citizens
• WalletConnect airdrop
• New Sandbox Season 

Jump into the latest crypto buzz!

Market Overview



BTC-ETF: 

• Monday +$4.5M 
• Tuesday: +$137M
• Wednesday: +$106M 
• Thursday: +$365M
• Friday: +$495M

ETH-ETF: 

• Monday: -$77M
• Tuesday: +$59M
• Wednesday: +$41M 
• Thursday: -$100k
• Friday: +$55M

CZ is free 

According to FortuneMagazine Changpeng Zhao (CZ) has already been released. Because if the release date falls on a weekend, prisoners are released earlier. Here's a brief recap of CZ’s imprisonment: CZ voluntarily decided it would be "easier to plead guilty." The exchange and Zhao himself paid fines, and CZ served a four-month sentence (two months of which, according to Fortune, he spent in a nursing home). 

▹ After his release, Zhao is expected to reunite with his family and focus on charitable activities. 

▹ Although his agreement with the government prohibits him from engaging in day-to-day operations at Binance, Zhao remains the largest shareholder and can still influence the company's direction. 

▹ It is also very likely that we can expect CZ's return to the crypto industry and the development of new projects/initiatives. We recommend closely following his X (formerly Twitter) account.

PayPal Enables Business Accounts to Buy, Hold and Sell Cryptocurrency.

PayPal announced it is enabling its U.S. merchants to buy, hold and sell cryptocurrency directly from their business account. At launch, this functionality for Business Accounts will not be available in New York State. Today's announcement is PayPal's latest step to increase cryptocurrency's utility by making increased functionality available to millions of merchants in the U.S.

"Since we launched the ability for PayPal and Venmo consumers to buy, sell, and hold cryptocurrency in their wallets, we have learned a lot about how they want to use their cryptocurrency," said Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies, PayPal. "Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We're excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly."

Additionally, PayPal is enabling U.S. merchants to externally transfer cryptocurrency on chain to third-party eligible wallets. PayPal business account holders can now send and receive supported cryptocurrency tokens to and from external blockchain addresses.

Wallet connect Airdrop:
 

The Connect Token (WCT) is a fundamental and critical part of the WalletConnect Network, fueling the onchain UX ecosystem. WCT powers important network functionality that enables the network’s community of users, apps, and wallets to contribute to a better onchain future through shared incentives, and allows holders of WCT to have a true stake in the future of onchain UX.

From the users of today to the builders of tomorrow, those who contribute toward the network play a critical role in building a better internet, one designed for interoperability, freedom, and ownership.

The WCT airdrop is designed to empower individuals — both users and contributors — who play an active role within the network, web3’s growth, and the future of onchain UX. It is an invitation to participate in the WalletConnect ecosystem, contribute to governance and play a role in establishing community-driven UX upgrades onchain.

The airdrop will be rolled out across various seasons, with registrations for season 1 opening on September 24, 2024. The registration period for season 1 of the WCT airdrop officially ends October 18, 2024, and registrants will be able to check their eligibility for season 1 in November, at which point more information will be shared about the criteria assessments and how and when to claim.

Sandbox announced a new Alpha Season.

Celestia Foundation raises $100M

The Celestia Foundation announced it has raised $100 million in support led by Bain Capital Crypto, with participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder, and more. This brings the project’s total amount raised to $155M.

Celestia Mainnet Beta went live in October 2023, delivering the industry’s first specialized modular consensus and data network. Since launch, an early ecosystem has taken form, with developers deploying the first 20 rollup chains and Celestia data blobs recently hitting more than half of total data published by rollups.

Conclusion:

• Stay tuned

• Stay updated instantly on our X 👉 https://x.com/MetaverseSG.