Today’s edition is brought to you by Horizen EON - an EMV-compatible smart contracting platform that allows developers to efficiently build and deploy dApps on the Horizen ecosystem.
Join the Horizen ecosystem today!
GM. This is Milk Road, the SportsCenter of crypto - we only bring you the best highlights.
Here’s what we got today:
- Meet the crypto companies outperforming Bitcoin 🤑
- BlockFi emerges from bankruptcy 🪦
- The World Bank 🤝 blockchain tech
- Crypto’s new $300M fund 🍪
Prices as of 10 AM ET. Click here for our Fear & Greed Index
MEET THE CRYPTO COMPANIES OUTPERFORMING BITCOIN… 🤑
Bitcoin is a lot like the quarterback of a football team…
It’s the good-locking jock that always gets the media’s attention and makes the cheerleaders (or crypto nerds) all giggly when they walk by.
But even though Bitcoin is up 106% this year, it actually hasn’t been the best player on the crypto team this year…
And today, we’re gonna give credit where credit is due. Here are some other crypto players who are having MVP-type seasons this year…
Coinbase: +144% YTD
Microstrategy: +193% YTD
Grayscale’s Bitcoin Trust (GBTC): +220% YTD
And then there’s the Bitcoin miners…
- The average return of the top 11 public mining companies is +150%.
- All but 2 public mining companies have outperformed Bitcoin this year.
Bitcoin might still be the quarterback, but it looks like Bryce Young - a little short.
EMPOWERING DEVELOPERS WITH EVM-COMPATIBILITY
Everyone knows bear markets are for building.
And without projects innovating, users have nothing to be excited about.
Well, one blockchain has been continuously improving since 2017, and they just dropped a major upgrade.
Horizen EON is now officially live on mainnet and aims to bring EVM-compatibility to one of the fastest growing blockchains.
Here’s everything you need to know:
- Horizen launched in 2017 with a focus on zk-powered blockchain dapps and protocols, surviving two bear markets since
- The team consists of research and cryptography veterans with a track record of successful development, such as their cross-chain communication protocol, Zendoo
- Horizen EON now allows developers to efficiently build and deploy dApps on Horizen, while benefiting from all of the positives of Ethereum’s ecosystem
And with a potential token on the horizon, there is a lot to be excited about.
Explore the possibilities of Horizen EON!
BLOCKFI EMERGES FROM BANKRUPTCY 🪦
BlockFi filed for bankruptcy on November 28, 2022. The crypto lender collapsed after Luna, Celsius, Three Arrows Capital, and FTX all went belly-up.
You know what they say, bad things happen in threes…
(Unless you’re in crypto, they happen in fives.)
Well, after 331 long days & nights…BlockFi has emerged from bankruptcy!
Here’s what that means:
- BlockFi can start repaying its creditors.
- Almost all wallet customers can log into their BlockFi accounts to withdraw funds now. (Wallet customers have until Dec. 31, 2023, to submit a withdrawal request)
- Customers with BlockFi Interest Accounts (BIA) and retail loans will start receiving repayments in early 2024.
- The crypto lender will attempt torecover assets owed by FTX, Three Arrows Capital, and other bankrupt companies, in order to repay creditors faster.
Finally, some good news! Cheers to that.
THE WORLD BANK 🤝 BLOCKCHAIN TECH
The list of companies using the blockchain to tokenize assets is growing every day…
The latest addition: The World Bank.
- Yesterday, the World Bank issued a $106M digital bond.
- It was issued using the Corda blockchain.
- The digital bond is available to trade on the Luxembourg Stock Exchange.
- Citi Bank, TD Securities (an investment bank), and Euroclear (a European company that settles securities trades) were all involved in the process.
Why this matters: The biggest financial firms in the world have been experimenting with blockchain technology and tokenized assets over the last few months…
JP Morgan. BlackRock. Barclays. You name it.
Well, it doesn’t get much bigger than the World Bank using it.
BITE-SIZED COOKIES 🍪
Constellation Network is allowing developers to build application-specific blockchains with unlimited scalability. Accompanied by a focus on interoperability, a vibrant community, and NO gas fees.*
Nym Technologies launches its new Innovation Fund program. It’s a $300M fund that will provide financial support for Web3 creators, developers, communities, and privacy proponents across all stages of project development.
Grayscale is teaming up with FTSE Russell to launch a new crypto indexes business. There will be five indexes that track the performance of different crypto sectors, including currencies, smart contract platforms, financials, consumer and culture, and utilities and services.
dYdX released the open-source code for its new blockchain, dYdX Chain. The new chain is a Cosmos-based protocol that is secured and governed by dYdX token holders.
Mastercard is exploring ways to collaborate with self-custody wallets. The financial giant is in talks with popular wallets like MetaMask and Ledger.
FTX has attracted several bids for a potential company restart. A decision could come by mid-December. (fingers crossed)
*This is sponsored content
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ROADER REVIEW OF THE DAY
VITALIK PIC OF THE DAY
when the magician pulls money out of your ear and you check to see if there's any ETH back there...
— Milk Road Images (@MilkRoadImages)3:08 PM • Oct 25, 2023
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
