Hello Syndicate! Welcome to your daily dose of crypto news.

Today’s top stories:

• 🤝 Solflare teams up with Metamask for multichain domination.

• 💀 Binance.US loses its CEO and fires 1/3 of staff.

• 📉 Apecoin falls to an all-time low.

SOLFLARE TEAMS UP WITH METAMASK 🤝

MetaMask has added support for Solana in partnership with Solflare.

Some background:

• Solflare was the very first wallet on Solana.

• 20% of the circulating supply of Solana is staked on Solflare.

• $1.52B worth of Solana is staked on Solflare.

Here’s everything you need to know:

• You can store Solana tokens and NFTs by adding the “Solana Snap” plugin to your MetaMask wallet.

• Solana Snap allows you to create a Solana wallet within MetaMask.

• Users are now able to seamlessly bridge their EVM (Ethereum Virtual Machine) tokens to Solana.

Some thoughts: Multichain is the future.

BINANCE.US CEO LEAVES AND 1/3 OF THE STAFF GETS LAID OFF 👀

Binance.US looks like it might be in trouble after CEO Brian Shroder left the company amidst increased regulatory scrutiny.

Here’s everything you need to know:

• The SEC sued Binance.US in June 2023, claiming the company violated securities laws.

• The CFTC sued Binance in March 2023 for providing crypto derivatives products without proper registration and guiding U.S. clients to bypass regulatory measures using VPNs.

• Binance.US makes up only 0.9% of U.S. crypto trading volume.

Binance released a statement stating that this move will provide Binance.US more than 7 years of runway, and they blamed the U.S. regulatory environment for causing them to make this move.

Some thoughts: Don’t have all of your crypto on a centralized exchange.

APECOIN FALLS TO AN ALL-TIME LOW 📉

I’m smelling opportunity in the 💩 coin market.

Today, we’re exploring diving deep into Apecoin, the Ethereum-based token backing the Bored Ape Yacht Club (BAYC) ecosystem.

Some context:

• 15% of Apecoin’s token supply was allocated to Bored Ape and Mutant Ape NFT holders. Each BAYC received 10,094 tokens for free.

• The token debuted at ~$1 per token and rose to an all-time high of $26.70.

• The token is now trading at ~$1.15 and is down 96% from its highs.

September catalyst:

• Apecoin’s initial rise was fueled by enthusiasm for the Otherside, a metaverse game unveiled by Yuga Labs in 2022. Apecoin is expected to be this game’s native currency.

• The Otherside Metaverse is expected to launch its open beta sometime this month.

• Depending on how users react to the game, we could see the price of Apecoin move with sentiment.

There are 2 likely scenarios that could play out here:

1. The game exceeds expectations and the price of Apecoin rises.

2. The game is disappointing and the price of Apecoin falls.

Some thoughts: Monitor social media, Twitter, and Discord to gauge the excitement level of the community leading up to the game’s open beta.

Quick News

Coinbase will integrate the Bitcoin Lightning Network for faster and cheaper Bitcoin transactions.

CoinEx exchange lost $27M worth of crypto in the suspected hack, suspended withdrawals, and promised 100% compensation.

Tornado Cash developer Alexey Pertsev faces trial in the Netherlands in March for facilitating money laundering.

OneCoin co-founder Karl Greenwood was sentenced to 20 years in prison for $4B cryptocurrency fraud.

MetaComp offers traditional securities for stablecoins, converting them to fiat, a first for Singapore.

P.S. - We’re curious… Reply to this email and let us know your thoughts on today’s edition and how we could improve!

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.