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- Solana Blockchain Faces Revenue Redistribution Proposal
- According to Blockworks, Solana may experience a significant shift in revenue distribution due to a new proposal from Jito’s DAO. The proposal suggests allocating 3% of all maximal extractible value (MEV) tips collected by the protocol to the DAO treasury and TipRouter, an in-house program developed for Jito’s upcoming restaking platform. Additionally, Jito Labs plans to reduce its own tip share from 5% to 3%, resulting in a total of 6% of all Jito MEV tips being taxed under the new program, up from the current 5%. The proposal estimates that this fee adjustment could generate $22.8 million in annual revenue for the newly-formed Jito DAO. MEV refers to the potential profit generated by reordering transactions within blockchain blocks. Jito has developed a validator client, which is the software validators use to connect to the blockchain. In this system, “MEV searchers” bid to have validators process their profitable sequence of transactions first, often adding tips to incentivize validators. These tips have proven to be quite lucrative, especially during periods of high trading activity on Solana. From March through September of this year, Jito MEV tips generated approximately $232 million in economic value, according to Blockworks Research. Last week alone, Solana processed $20 million in Jito tips amid a surge in memecoin trading. MEV tips accounted for 54% of Solana’s real economic value (REV), a metric that estimates the income generated by blockchains. The Jito DAO proposal represents a significant change in how one of Solana’s major income sources is distributed. Currently, Jito Labs’ 5% share of MEV tips earns it around 2.5% of Solana’s REV. If the proposal passes, less REV would go to Jito Labs, with a portion redirected to the DAO. This shift raises questions about whether stakers or validators should receive more REV, or if Jito deserves a larger share of Solana’s economic value. Another recent change in Solana stakeholder revenue came from Solana Improvement Document (SIMD)-0096, which directs priority fees entirely to validators rather than burning half. Most of the new tip structure would benefit Jito’s DAO, with 0.15% allocated to TipRouter, a protocol designed to programmatically distribute MEV tips. TipRouter will operate as a node consensus network (NCN) on Jito Restaking, similar to EigenDA on EigenLayer. The proposal is subject to a vote from Jito governance, but given the potential $22.8 million annual revenue for the DAO, it is likely to pass.
BullishBearish- Tether proposes boron-backed tokens to revolutionize Turkey’s commodity market
- Stablecoin issuer Tether has proposed a new initiative to Turkey: digital tokens backed by boron, a mineral in which the country holds over 70% of the global reserves, Bloomberg News reported on Oct. 24. Boron, essential in manufacturing ceramics, glass, and fertilizers, is a major asset for Turkey’s economy, with sales projected to reach $1.3 […] source: https://cryptoslate.com/tether-proposes-boron-backed-tokens-to-revolutionize-turkeys-commodity-market/
BullishBearish- Crypto Fraudsters Exposed After Living a Lavish Lifestyle of Private Jets and Prostitutes
- Five people have received prison sentences for their involvement in a cryptocurrency scam that defrauded investors of $21.6 million. source: https://cryptodnes.bg/en/crypto-fraudsters-exposed-after-living-a-lavish-lifestyle-of-private-jets-and-prostitutes/
BullishBearish- Coinbase International Launches Perpetual Futures on AI Meme Coin Turbo
- Coinbase International added perpetual futures trading for Turbo, a popular AI meme coin. These contracts initially launched in halt mode, but full functionality swiftly followed. Next week, the exchange will introduce similar contracts for ApeCoin, a utility and governance token within the APE ecosystem. Coinbase’s Perpetual Future Offerings Coinbase International added... source: https://beincrypto.com/coinbase-perpetual-futures-turbo-launch/
BullishBearish- Hack VC leads $3.4 million seed round for web3 health accountability app Moonwalk Fitness
- If the user fails their fitness goals, a portion of their deposited crypto gets distributed among successful players. source: https://www.theblock.co/post/322930/hack-vc-leads-3-4-million-seed-round-for-web3-health-accountability-app-moonwalk-fitness?utm_source=rss&utm_medium=rss
BullishBearish- Putin says Russia is open to mending relations with America, but only if Trump wins
- Russia’s president Vladimir Putin is open to fixing ties with America—under one condition. Donald Trump has to win the 2024 US presidential election. During a press conference at his BRICS summit, Putin bluntly said there’s no hope for better relations with the Biden administration. The war in Ukraine, the US’s support for Kyiv, and the […] source: https://www.cryptopolitan.com/putin-says-russia-is-open-to-mending-relations-with-america-but-only-if-trump-wins/
BullishBearish- US Government Withdraws $6.57 Million In Stablecoins From Aave
- According to BlockBeats, on October 25, Arkham monitoring revealed that within the past half-hour, a U.S. government address withdrew stablecoins worth $6.57 million from Aave. These stablecoins were subsequently transferred, along with an additional 177.89 ETH, to the address 0x3486eE700CcaF3E2F9C5eC9730a2e916a4740A9f.
BullishBearish- BITCOIN LIVE TRADING! (Legit Bounce or Trap?)
- null source: https://x.com/Bitcoinsensus/status/1849509410332344603
BullishBearish- Here’s Why The ‘Very Negative Crowd Sentiment’ for XRP and SHIB Could Be Bullish
- Check out why XRP, SHIB, and other leading cryptocurrencies could head north soon. source: https://cryptopotato.com/heres-why-the-very-negative-crowd-sentiment-for-xrp-and-shib-could-be-bullish/
BullishBearish- Fitness App Moonwalk Secures $3.4M Funding From Hack VC, Binance Labs
- The fitness app Moonwalk incentivizes healthy habits by allowing users to compete in fitness challenges and earn cryptocurrency rewards based on performance. source: https://coincu.com/288910-fitness-app-moonwalk-secures-3-4m
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Shiba Inu Team postpones ShibaCon Conference, But SHIB Price Soars Over 40%
To the surprise of various community members, the Shiba Inu team has announced the postponement of the highly anticipated ShibaCon conference.
XingChiSam Altman Presents A Whole New ‘World’ as Worldcoin Rebrands with Layer-2 Network and New Identity Verification Features
Worldcoin has rebranded to "World" and launched new initiatives, including the World ID Credentials program and an upgraded Orb device for identity verification. While the project has generated excitement, trust issues remain, particularly due to concerns about privacy and recent controversies surrounding its leadership, which has resulted in a mixed market response.
WeatherlyChainalysis to Defend Itself in $650M Defamation Case Despite Multiple Attempts to Dismiss Motion
Chainalysis is facing a $650 million defamation lawsuit for allegedly misclassifying a crypto project as a major scam in its 2023 Crypto Crime Report. Despite multiple dismissal attempts, Exceptional Media and YieldNodes challenge the claims. Chainalysis argues that the plaintiffs haven’t proven YieldNodes isn’t a scam. If the case proceeds, it could set a precedent for transparency in blockchain surveillance.
CatherineTikTok Under UK Scrutiny for Illegal Operation as Crypto Exchange: Are More Social Media Platforms Coming Under Fire?
TikTok is under UK scrutiny for allegedly operating as an unlicensed crypto exchange, raising concerns about financial regulation. This mirrors recent actions against platforms like Telegram, sparking questions about whether more social media apps will face similar scrutiny.
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Liam Payne’s Tragic Death Sparked Launch of Over 150 Meme Coins: Is Profiting from the Dead Crossing the Line?
Liam Payne, famed One Direction singer, tragically fell from a Buenos Aires hotel balcony. Alleged evidence of drug and alcohol use has prompted a police search. Within 24 hours, over 150 meme coins were launched—some in tribute, others exploiting his death. Is profiting from tragedy crossing the line?
KikyoHamster Kombat Reveals Significant Overhaul in Season 2, Lets Players Take Charge of Building Gaming Platform
Hamster Kombat has released a teaser trailer for Season 2 of its popular Telegram clicker game, aiming to engage its community. This season will focus on game development and publishing, allowing players to take on the role of CEO and create their own gaming studio.
CatherineKomainu Eagerly Awaits Approval for Propine Acquisition in Major Asia Expansion Push But Declines Disclosure of Deal Amount
Komainu is making its first acquisition by purchasing Singapore-based Propine Holdings, gaining a Singapore Capital Markets Services License and positioning itself for a future Major Payment Institution license. Though financial details were not disclosed, this marks a key step in Komainu’s expansion in Asia.
Catherine25-Year-Old Hacker Who Faked SEC Bitcoin ETF News Arrested: FBI Reveals His Search History Includes 'Signs You're Under Investigation'
In January 2024, hacker Eric Council Jr. used a SIM swapping technique to hijack the SEC's X account and post a fake Bitcoin ETF approval, causing wild price swings in Bitcoin. He was arrested in October 2024 and charged with identity theft and fraud.
JoyA Simple Typo in Google Search for Sony’s Soneium Led to a Crypto Wallet Drainer
A phishing scam targeted users searching for "Soneium," a blockchain project by Sony, by leading them to a fake website that stole their crypto assets. The fraudulent ad appeared legitimate on Google, but redirected users to a site designed to drain their wallets.
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