Ndax Weekly TL;DR December 23rd

• Charles Hoskinson Advocates Relocation of Cardano Foundation
• Phishing Scammers Target Ledger Users with Fake Data Breach Emails
• Pyth Network Introduces On-Chain Real-Time Oil Data for Over 80 Blockchains
• Shiba Inu Partners with Chainlink to Enhance Cross-Chain Functionality
   

Cardano founder Charles Hoskinson has urged the Cardano Foundation to move from Switzerland to jurisdictions like Abu Dhabi or Wyoming to enable community-driven governance. In a Dec. 18 post, Hoskinson criticized the Swiss government-appointed board model and encouraged the community to push for a governance structure allowing member participation. He suggested collaborating on a new framework fostering transparency and inclusivity, reflecting growing criticism over the Foundation's governance and internal conflicts. The Foundation plans to address these concerns in upcoming public forums. CryptoSlate

Phishing scammers are impersonating Ledger’s support emails to trick users into revealing their private seed phrases. Fake emails claim a "recent data breach" and direct recipients to a counterfeit Ledger-branded website. The site prompts users to "verify" their wallets by entering their recovery phrases, potentially granting scammers access to funds. Ledger has reaffirmed it will never request users’ 24-word recovery phrases, urging vigilance against phishing attempts. The scam follows a broader trend of phishing campaigns during the holiday season, as crypto-related scams adapt to exploit online activity. Cointelegraph

Pyth Network, a decentralized oracle provider, has launched real-time data feeds for West Texas Intermediate (WTI) and Brent Crude Oil, marking a significant step in bridging traditional finance and decentralized solutions. The new service aggregates pricing data from multiple trusted financial sources, making it accessible across over 80 blockchain ecosystems. This development enables decentralized finance (DeFi) applications to incorporate energy market instruments, such as derivatives and perpetual futures, expanding opportunities for both retail and institutional investors. Cointelegraph

Shiba Inu has partnered with Chainlink to enhance its decentralized finance (DeFi) strategy, integrating Chainlink’s Cross-Chain Token (CCT) standard and Cross-Chain Interoperability Protocol (CCIP). These upgrades allow Shiba Inu’s tokens—SHIB, LEASH, and BONE—to operate seamlessly across 12 blockchains, enabling smoother token transfers and broadening its ecosystem’s reach. The collaboration also incorporates Chainlink’s low-latency market data, facilitating the development of scalable, secure cross-chain applications. CryptoSlate

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News Nuggets

• Injective and Sonic Launch Crosschain AI Agent Hub for Solana-Based Applications Cointelegraph 
• Fed Chair Jerome Powell Affirms Bitcoin Ownership Lies Outside Central Bank’s Authority Cryptonews 
• Avalanche Launches Major Upgrade 'Avalanche9000' to Boost Developer Engagement and Reduce Transaction Costs CoinDesk 
• Aave’s Proposed Redeployment of Polygon Bridge Stablecoins Spurs Community Debate Cointelegraph 
• El Salvador Boosts Bitcoin Purchases Following IMF Agreement cryptonews 
• Ohio Lawmaker Introduces Bill to Allow State to Purchase Bitcoin as Part of Treasury Reserves Cointelegraph 
• North Korean Hackers Double Crypto Theft to $1.3B in 2024, Chainalysis Reports Cointelegraph 
• Craig Wright Given Suspended One-Year Sentence for Satoshi Fraud Case Contempt Cryptonews

As of 12-23-2024 at 8:25 AM EST

Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has decreased from CA$5.39 trillion to CA$4.77 trillion.
• Bitcoin's market dominance stands at 57.3%, while Ethereum's share is 12.1%.

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$134K and CA$139K registering a 6% change over the past week and a market cap of CA$2.7 trillion. (At time of writing)

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Mark your calendars!

• Dec 26: US Initial Jobless Claims Announcement

We are excited to share a historical moment in Ndax’s journey in Canada. Ndax has officially been granted registration as an Investment Dealer and has obtained membership with the Canadian Investment Regulator Organization (CIRO) and had been recognized as a Marketplace that is an Alternative Trading System (ATS) in all provinces and territories in Canada. To learn more click here.

This week's blog, Tangibles and Tech: Exploring the RWA and DePIN Landscape, delves into the evolving intersection of Real-World Assets (RWAs) and Decentralized Physical Infrastructure Networks (DePIN). By reading this post, you'll gain a deeper understanding of how these concepts bridge the gap between the digital finance world and the physical economy. To learn more click here.

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The team at Ndax