Intel Report 20/9

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Analyst Note
For the time being, our intelligence will be delivered through a report-based newsletter, combining LLM systems with human analysis to deliver value-packed web3 reports. Free users can enjoy a lite version, while paid subscribers get full access to daily and seasonal reports. Thank you for your support! - Adam, Lead Researcher.

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Summary
GM, Rari Capital has settled with the SEC over unregistered broker activities, reflecting increased regulatory scrutiny on DeFi projects. Coinbase's Stand With Crypto campaign has registered over 121,000 new voters to raise awareness about crypto policies. Meanwhile, Binance executive Tigran Gambaryan remains detained in Nigeria under worsening health conditions, drawing concern from US lawmakers. Additionally, BRICS nations and 134 countries are exploring Central Bank Digital Currencies (CBDCs) to reduce reliance on the US dollar, signaling potential shifts in global trade.

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News Headlines
🤝 Cardano founder to meet Argentina president Javier Milei

• Cardano founder Charles Hoskinson will meet with Argentine President Javier Milei on October 19 to discuss blockchain's role in the crypto economy.

• They will explore how blockchain can reshape economic, political, and social systems in Argentina.

• This meeting coincides with Cardano's recent governance upgrade emphasizing decentralized governance and community voting.

📱 Solana's Second Phone, the Seeker, Set for 2025 Release with Airdrop Incentives

• Solana Mobile has announced its upcoming phone, the Seeker, set to launch in 2025 with advanced security measures and a native wallet.

• Each Seeker will include a Genesis Token NFT to facilitate airdrop eligibility for users.

• The phone has already seen over 140,000 pre-orders at $450 each, totaling over $63 million in revenue.

🏦 DZ Bank partners with Boerse Stuttgart for crypto trading

• Germany's second-largest bank, DZ Bank, is partnering with Boerse Stuttgart Digital to offer crypto trading and custody to 700 cooperative banks.

• The initial rollout is planned for late 2024, allowing customers to trade Bitcoin and Ether.

• This collaboration follows a trend among German banks, with others also announcing crypto services for institutional clients.

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Market Metrics

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Fundraising & VC
1. Drift Protocol (Series B, $25M) - Decentralized exchange
2. Bool Network (Seed, $2M) - Decentralized infrastructure for BTCFi
3. Sorted Wallet (Strategic, $1.5M) - Crypto wallet