The Block
Quick Take Ether will likely outperform bitcoin and other cryptocurrencies in 2024, according to JPMorgan analysts. That prediction comes on the back of Ethereum’s EIP-4844 upgrade next year.
This first appeared in Frank Chaparro’s biweekly The Scoop Newsletter on Dec. 12. Sign up now.
Quick Take SEC Chair Gary Gensler didn’t seem like he wanted to talk about crypto on Wednesday after a meeting about the U.S. Treasury market.
Bitcoin’s price increased by almost 3% on Wednesday as the Federal Reserve held interest rates at the current range of 5.25%-5.50%, as expected.Major stock indices also made gains in early afternoon trading, after the announcement from the Federal Reserve.
Quick Take Yearn Finance said a faulty script wiped out 63% of its treasury, but user funds were not affected. Yearn is asking users who profited from the bug to return a “reasonable” amount to the protocol’s multisig.
Quick Take Dynamic Labs secured Series A funding from prominent backers including a16z crypto and Founders Fund.
Quick Take The accounting standard update will allow firms to use fair-value accounting for certain crypto held on their balance sheets.
Quick Take Blockstream is set to roll out Series 2 of its Bitcoin mining hardware investment product, the Blockstream ASIC (BASIC) Note, following oversubscription for Series 1. Series 2 aims to offer non-US investors an investment vehicle that taps into the Bitcoin ASIC market, with a focus on efficient miner acquisition and bitcoin-denominated returns.
Quick Take Development firm Coti plans to launch an Ethereum Layer 2 in an upcoming upgrade. Coti’s infrastructure will shift from its DAG protocol to the Ethereum Layer 2. The initial test network for Coti V2 is scheduled for release in 2024.
Quick Take NodeKit raised $1.2M in a pre-seed funding round for its Avalanche-based platform, SEQ — a Layer 1 subnet that aims to enable performant rollup chains.
