AltXCrunch

11/01/24 | Coinbase’s AI Blockchain Tool, Consensys & dYdX Layoffs, Visa-Coinbase Partnership, Solana ETF Filing, Tether’s $2.5B Profit


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In this episode of AlXCrunch, Mackenzie covers the top crypto news stories from the week. First, we discuss Coinbase’s new Based Agent platform, developed in collaboration with OpenAI and Replit, which allows users to create AI agents on the Base blockchain for automating on-chain activities like trading and staking. Next, we look at Consensys and dYdX, both undergoing workforce reductions despite a bullish crypto market, as regulatory pressures and strategic restructuring take center stage. We also highlight Visa’s partnership with Coinbase, offering U.S. and EU users instant crypto purchases, deposits, and withdrawals using Visa debit cards for real-time transactions. Moving on, we explore Canary Capital’s recent application for a spot Solana ETF, following other institutional moves to bring Solana to traditional investment platforms. Lastly, we examine Tether’s strong Q3 financial results, with $2.5 billion in net profit and a 30% increase in USDT circulation, showcasing the company’s role as a leading liquidity provider in emerging markets.

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