Intel Report 26/9

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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. Email us at adam@secret3.com for any feedback! - Adam, Lead Researcher.

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Summary
GM, Circle, the issuer of USDC, launched a new blockchain-based compliance platform called Compliance Engine, aimed at helping companies adhere to regulatory demands. Meanwhile, the SEC settled charges against TrueCoin and TrustToken for fraudulent practices related to the TrueUSD stablecoin, highlighting ongoing regulatory scrutiny in the stablecoin sector. Additionally, PayPal expanded its cryptocurrency services, enabling U.S. businesses to buy, sell, and hold digital assets directly from their PayPal accounts, signaling growing mainstream adoption of cryptocurrencies.

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News Headlines
🌐 BRICS to Unveil De-Dollarization Roadmap at 2024 Summit

• BRICS alliance is expected to announce a de-dollarization roadmap at its 2024 summit, including a multicurrency platform and a gold-backed trading currency.

• This move aims to reduce reliance on the US dollar in trade among member nations and could have profound implications for global trade and currency dynamics.

📈 Bitcoin Options Worth $8.1B Set to Expire This Month

• $8.1 billion in Bitcoin options are set to expire this month, marking the second-largest options expiry of 2024.

• Current macroeconomic conditions suggest a bullish outlook, with potential for significant gains if Bitcoin remains above $63,000.

📊 Tokenized asset market to hit $10T by 2030: Chainlink report

• Chainlink has forecasted that the global tokenized asset market could reach $10 trillion by 2030, despite recent cryptocurrency market volatility.

• Key growth factors include institutional adoption, blockchain integration, and a supportive regulatory environment.

💼 U.S. House Democrat Urges House To Pass Stablecoin Bill

• U.S. Rep. Maxine Waters is advocating for the passage of stablecoin regulation before the end of 2024, urging committee chairman Rep. Patrick McHenry to prioritize a compromise on the bill.

• The push for stablecoin legislation highlights the ongoing efforts to create a regulatory framework for cryptocurrencies in the United States.

🚀 Why is Cardano (ADA) price up this week?

• Cardano (ADA) has seen a price surge, outperforming the broader cryptocurrency market with a rise of over 4% in 24 hours and approximately 15% over the week.

• Key factors driving this increase include an upcoming meeting between Cardano founder Charles Hoskinson and Argentine President Javier Milei, and notable whale accumulation.

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Market Metrics

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Fundraising & VC
1. Infinex (Private Token Sale, $65.3M) - Cross-chain wallet
2. Initia (Series A, $14M) - Network for interwoven rollups
3. AminoChain (Seed, $5M) - Decentralized bio-sample marketplace
4. Oright (Seed, $1M) - Agricultural and dairy supply chain digitization platform