This Tiny Percent of BTC Is on Exchanges

November 12, 2021       /       Unchained Daily       /       Laura Shin

Daily Bits ✍️✍️✍️

• Discord CEO Jason Citron clarified that the platform has “no current plans” to ship an Ethereum integration.

• Through MiamiCoin proceeds, mayor Francis Suarez plans to give a “bitcoin yield” to citizens.

• Only 12.9% of Bitcoin supply is on exchanges.

• On Nov. 17th, the US Congress Joint Economic Committee will hold a “demystifying crypto” hearing.

• Grayscale, a digital asset manager, topped $60 billion in assets under management.

• Binance is looking to headquarter in France.

• ENS, the governance token of the Ethereum Name Service, briefly crossed a $1 billion market cap yesterday morning — less than one week after launching.

• FTX.US is the most liquid crypto exchange in the US.

• Foundry, a mining subsidiary of Digital Currency Group, launched its staking business yesterday.

• Sotheby’s will support real-time bids in ETH for an upcoming Banksy auction.

• Silvergate Capital shares rose above $200 yesterday after JPMorgan’s research coverage set its price target at $300 for the crypto-focused bank.

• Russian lawmakers have formed a working group to address the Bitcoin mining industry.

What Do You Meme?

What’s Poppin’?

Bumble Makes Its First Move Into Web3 

Bumble, the app best-known for its decision to allow women to make the first move when searching for partners or friends, appears to be looking at integrating web3 into its business model. In remarks during Bumble Inc.’s third-quarter earnings call, Whitney Wolfe Herd, Bumble’s founder and CEO, revealed that the dating and friendship app is looking into the metaverse.

Specifically, Herd believes that Bumble BFF, a platform that allows users to swipe and utilize matching algorithms for making friends, rather than dating, is best suited for web3 development.

“Bumble BFF gives us a platform for Bumble to become a leader in the Web 3.0 world. Web 3.0 is all about community and treats everyone in the community as participants who together make the community what it is. Built on blockchain technology, we believe it will enable a level of participation and empowerment that will make our mission come to life,” she said.

She went on to add that building via blockchain could unlock user ownership of data in a whole new way. Said Herd, “It becomes a way for our members to own their experience on Bumble. This could happen through the communities they build, the virtual goods and experiences they acquire or through new ways of owning their identity as they navigate the metaverse.”

In addition to Herd’s comments, Bumble posted a job listing for a “Head of Crypto and Web3” on LinkedIn.

Recommended Reads

• Color Capital’s Chris Cantino on NFTs:

• A Declaration of the Interdependence of Cyberspace:

• 11 steps to learn about web3:

On The Pod…

Alameda Research’s Sam Trabucco: What Solana Does Better Than Ethereum

Sam Trabucco, co-CEO of Alameda Research, discusses the different price drivers that led to BTC, ETH, SOL, and LUNA reaching new all-time highs in the past week. Show highlights:

• why Sam believes no bad news from regulators is good news

• what effect leverage has on the crypto markets

• the significance of Bitcoin hitting a new all-time high and the crypto market cap reaching $3 trillion

• how the approval of a bitcoin futures ETF affected the crypto market

• what Sam thinks about the actions of US crypto regulators (hint: it’s probably not what you would think)

• why Sam thinks ETH’s price hit a new all-time this week

• what Sam thinks about the changes to ETH monetary policy and the upcoming merge to Ethereum 2.0

• how Sam views the competition among layer 1 blockchains and why he is not a fan of maximalism

• what factors he believes are driving the price of SOL

• what sort of projects are being built on Solana, and why people are excited about the ecosystem

• what Sam thinks about Terra passing a proposal to burn LUNA

Book Update

You can purchase it here: http://bit.ly/cryptopians