The Block
Quick Take Rising Polymarket odds of a Republican sweep in next week’s U.S. elections could pave the way for passing a series of crypto-related bills, analysts at Presto said. However, others have questioned the reliability of prediction market platforms, given their divergence compared to traditional polling.
Quick Take Paxos’ CEO sent a letter to presidential candidates Kamala Harris and Donald Trump on Tuesday. The CEO also criticized the current regulatory environment for crypto, calling it an “inhospitable place for financial innovation.”
Quick Take DWF Labs says it has removed one of its partners following allegations of drink spiking. The company has removed Eugene Ng, a founding partner, from its team page.
Quick Take Glif, the largest DeFi protocol on Filecoin, is introducing its native token. A total of 100 million GLIF tokens will be airdropped to users.
Quick Take dYdX Trading has laid off 35% of its staff, according to a company blog. CEO Antonio Juliano recently rejoined the firm after a six-month sabbatical.
Quick Take For stablecoin operators, falling interest rates mean less revenue from the cash reserves backing their tokens. This column is adapted from The Scoop newsletter.
Quick Take As of the week ending Oct. 27, weekly sales have reached 43,600 NFTs. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take Bitcoin DeFi protocol Threshold is proposing to merge its version of wrapped bitcoin with WBTC. The move comes after WBTC custodian BitGo announced Justin Sun’s BiT Global would become a multi-sig key holder, raising concerns among some industry participants.
Quick Take Started by former Coinbase and Square employees, Bridge is building a stablecoin-powered money movement platform. Bridge’s backers include Sequoia, Ribbit, Index and Haun Ventures.
Quick Take In an interview with TIME, President of El Salvador Nayib Bukele said the monetary experiment to make bitcoin legal tender has had mixed results. The cryptocurrency has seen limited domestic adoption, though remains a “net positive” for the country.
