📊 Glassnode report: Inscriptions, mempools and miners

- Inscriptions act as a sort of "packaging filler" for the blocks. There is minimal evidence that Inscriptions are displacing money transfers, instead acting as a last resort for the buyer of low-cost blockchain.

- While this has improved base load demand for blockspace and significantly increased fee income, the hashrate competing for it has also increased by over 50% since February. Given the intense competition among miners and the looming halving, it is likely that miners are on the verge of a revenue shortfall.

🥳 #CTSI #ETH Cartesi launched their first decentralized Honeypot application on the Ethereum network.
theblock.com

🕵️‍♂️ DWFLabs withdrew 10.5 million #BLZ ($1.79 million) from Binance and transferred it to their 0xd4b wallet.

🍿👀 #BNB WSJ: The US Department of Justice has been conducting a year-long investigation that could lead to criminal charges and billions of dollars in fines for Binance and CZ. Binance and the DOJ have been discussing this for months, and there has been internal discussion within Binance about whether CZ should resign.

🔛 Immunefi announced the launch of Vault Systems, a smart contract system that allows developers to securely deposit funds intended to pay hackers or researchers for reporting vulnerabilities in their code.
decrypt.com

👀 #TBD #TIA, Celestia airdrop website is down, officials say a fix will be released soon.
celestia.org

👀 #LINA #LUSD Currently, the Linear Finance protocol is closed for maintenance, user assets are safe.
twitter.com

🙋‍♂ #XRP Ripple appoints former Obama White House official as head of US Department of Public Policy and Government.  theblock.com

📊 #OKB #OKT OKX Issues 11th Reserve Certificate:
- Have excess collateral - the reserve ratio is 102% for BTC, 103% for ETH and 102% for USDT;
- the value of its reserves in $ has increased by more than 7.6% since August

📊 Pantera Research: Almost all employees of cryptocurrency companies are paid in fiat, and the average salary is $120,000.

The vast majority are paid in USDC and USDT, with 13% in BTC

🙅‍♂ Blocknative will suspend its MEV-Boost Relay and associated Ethereum #ETH block developers tomorrow. the block

🇧🇭🏦 Bahrain-based Bank ABC will use JPMorgan's Onyx Coin Systems for blockchain-based cross-border payments. cointelegraph

🙋‍♂ #DEXE Dexe Network is rebranding as DeXe Protocol and launching its first product - DeXe DAO Studio. medium

🥳 #ARB Arbitrum Odyssey is officially launched. twitter

📊 #BTC Sentiment: BTC is experiencing its lowest level of trading volume (in dollar terms) since March 2019. Unsurprisingly, this decline coincided with a drop from the peak supply of BTC on exchanges, which occurred almost 3 years ago.

👀 #RON Ronin Network will release name service - RNS.
Companies and brands have until October 26, 2023 to reserve their RNS titles ahead of a public sale scheduled for later in the year.

🐧🤝 #NFT Pudgy Penguins enter into major IP and merchandising deal with Walmart

🇺🇸 The Federal Reserve Banks of Boston and New York published report, comparing stablecoins to money market funds.

Key findings from the report include the observation that stablecoins and money market funds are following similar patterns during circulations and that stablecoins could introduce instability into the broader financial system: “Stablecoins appear to have a discrete “profitability” threshold of $0.99, below which redemptions accelerate and prolong—periods in which investors flee, potentially leading to asset collapse for remaining investors.”

🇮🇳💰 Gemini is investing $24 million in expansion in India. cointelegraph.com

🇺🇸🗣 Prepared Statement of Gensler for the House Financial Services Committee hearing scheduled for tomorrow, the contents are the same as the September 12 Senate hearing.