LensLinks: Issue 20

Today in LensLinks:

• CZ confirms $500M of Equity for Musk's Twitter Takeover

• Reddit Blueprint for NFT Launches

• Halloween Costumes for Broke Crypto Traders

• Another Opinion on Big Eyes Coin

• Europol Warns Police to Prepare for Metaverse Threats

• World's Largest Bitcoin Miner Heads to Bankruptcy

• Does Google Validate a "$10K Price for ETH"?

• And Much, Much, More...

Binance confirmed on Friday that it was as an equity investor in billionaire technology entrepreneur Elon Musk's takeover of microblogging service Twitter (TWTR).

In May, CZ referred to the $500 million commitment as "a small contribution to the cause" in a tweet after news of the takeover first emerged. CZ added at the time that a priority should be to reduce spam and scams on the platform.

"Our initial commitment remains the same and we look forward to exploring opportunities to grow the partnership in the future," a Binance spokesperson said.

Reddit may have cracked the formula for onboarding new users into web3, according to a new report released by DappRadar on the behavior of the blockchain industry.

Further, 94% of adults with “discretion to household money” are now aware of cryptocurrencies. The report stated:

“The ease of onboarding new users to the world of NFTs by Reddit could be seen as one of the biggest events for Web3 this year.”

Its native token, BIG, has a total supply of 200,000,000,000 units and will be available to purchase on presale. Of the total supply of the tokens, 90% is allocated for presale – 70% through public presale and 20% via exchanges. Another 5% will be set aside for marketing activities, and the remaining 5% for the charity wallet.

Despite the bad numbers of daily trading, there are some signs of market revival, at least for Bitcoin-based products.

Metaverse & Gaming - A Little More...

Blockchain, Tokens & Defi - A Little More...

Crypto Trading - A Little More...

The high degree of centralisation amongst entities that stake Ethereum (Lido, Kraken and Coinbase controlling over 50% of the validators) was not deemed a significant enough risk, and the team decided that moving to proof of stake was more important than maintaining Ethereum as a decentralised and censorship-resistant network.

This decision was likely made because the proof of stake narrative lends itself very easily to being ESG-compliant, which is likely to attract institutional investors who do not understand the nuance of how proof of work is positive for the environment.

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