Intel Report 23/9

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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, Coinbase announced plans to launch its wrapped Bitcoin asset, cbBTC, on the Solana network, potentially expanding its reach in the DeFi space. The BRICS alliance reported that native currency trade agreements have surpassed those settled in US dollars, signaling a continued shift away from dollar dominance. Meanwhile, Immutable (IMX) and Bittensor (TAO) stood out with impressive gains of 9.68% and 9.26% respectively, indicating growing interest in gaming and AI-related blockchain projects.

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News Headlines
💎 Ethereum Investor Makes $131.72M Profit in 2 Years

• An Ethereum investor earned a profit of $131.72 million by holding through the 2022 bear market, highlighting the potential benefits of a long-term investment strategy.

• The investor bought 96,639 ETH for $151.42 million and later transferred 70,000 ETH worth $214.34 million to Kraken.

🗳️ Kamala Harris Leads in 4 of 6 Swing States on Polymarket

• Harris's overall odds of winning the presidential election have risen to 52%, while former President Trump's odds stand at 47%.

• The election outcome could significantly impact cryptocurrency regulations and market sentiment.

⚖️ CFTC Fines Man $36M for Crypto Investor Fraud

• The CFTC fined William Koo Ichioka $36 million for defrauding crypto investors with false promises of high returns.

• This case is part of a broader regulatory focus on fraudulent investment schemes in the cryptocurrency space, amid rising complaints of crypto-related fraud.

🌐 23 Countries Officially Apply to Join BRICS Alliance

• Twenty-three countries have officially applied to join the BRICS alliance, with 24 additional countries expressing informal interest.

• The applicants aim to utilize local currencies for trade instead of relying on the US dollar, potentially impacting global economic dynamics.

🔋 Microsoft to Reopen Three-Mile Island Nuclear Site for AI Power

• Microsoft signed a 20-year deal with Constellation Energy to reopen the Three-Mile Island nuclear site to power AI operations.

• The agreement will provide Microsoft with 835 megawatts of power, with Constellation investing $1.6 billion for the site to be operational by 2028.

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Market Metrics

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Fundraising & VC
1. Grass (Series A Undisclosed) - Sovereign data rollup
2. Perena (Seed Undisclosed) - Decentralized infrastructure for money