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Ethereum

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🐳 Once Ethereum moved past $2,300, ETH-cities began to record profits
This growing pressure on the side of sellers may begin to spill over into the price of ETH.

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Tether blocked another four addresses with USDT

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🤓 The US has approved rules for accounting for crypto assets for companies The US Financial Accounting Standards Board (FASB) has approved rules for accounting for cryptocurrencies at fair market value. The new measures will take effect from 2025. However, companies can start implementing them sooner. In effect, this innovation allows companies to buy and hold crypto assets in corporate treasuries without balance sheet penalties. Companies will also be able to display profits and losses for this item in their reports. MicroStrategy founder Michael Saylor said the new rules remove a major obstacle to corporate adoption of Bitcoin as a treasury asset.

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The Interchain Foundation, which supports the Cosmos blockchain ecosystem, detailed $26.4 million of planned funding in 2024. That compares with a $40 million budget estimate for 2023, released in February 2023, though final spending numbers are not in yet. $3,000,000 will be allocated to ensure the continued modularity, efficiency, and stability of CometBFT, the Byzantine fault-tolerant engine for state machine replication. $4,500,000 will be allocated to expand composability of the Cosmos SDK, the world's most popular framework for building secure and highly performant application-specific blockchains. $7,500,000 will be allocated to the Inter-Blockchain Communication Protocol, the leading blockchain interoperability protocol, enabling secure and permissionless transfer of arbitrary data for dedicated expansion across blockchain ecosystems. $2,500,000 will be allocated to CosmWasm, the smart contract framework focusing on security, performance, and interoperability to enhance dApp functionality and IBC connectivity. $155,000 will be allocated to CosmJS, a library that helps developers integrate their JavaScript-based clients - frontend user interfaces or server-side clients - with Cosmos SDK blockchain to bridge gaps in Cosmos SDK compatibility. $1,500,000 will be allocated towards security audits for the Interchain Stack. #TheInterchainFoundation #Cosmos #ATOM #blockchain

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Liquid Collective, "an institutional liquid staking protocol that achieved 900% TVL growth in Q3 alone, announced that BitGo has joined as a custodian to offer Qualified Custody for LsETH, Liquid Collective’s receipt token," according to the team. "This move represents BitGo’s entrance into the institutional liquid staking space, as Liquid Collective’s LsETH is the first and only Liquid Staking Token (LST) that BitGo offers custody support for. BitGo’s support of LsETH will allow all BitGo users and LsETH holders to participate securely in the largest DeFi sector." #LiquidCollective

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