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Hey, welcome to today's Crypdonuts newsletter. If you haven't yet already, follow us on Twitter for daily updates and insights.

Top news today:

• Blockchain casinos just hit jackpot 🎰

• Fed targets stablecoins day after PYUSD launch

• Look for your next 100x in Base

📈 MARKETS: PAST WEEK

• Bitcoin briefly topped $30K on Wednesday, but it didn't linger long and slid back into the dreaded $29K zone we’ve been seeing for weeks.

• Stocks tumbled this week as Moody’s warned it could cut credit ratings of 6 big US banks. It also signed the possibility of a recession in 2024.

DONUT HOLES

Hole lotta news…

• Worldcoin Nairobi warehouse raided by Kenyan police, while $WLD continues its downhill trend

• Coinbase officially launches Base blockchain

• Y00ts is migrating to Ethereum, returning the $3M grant it received from Polygon

• New Yorkers: 19% of them own cryptocurrency

• Grimes says she’s made more $$ from NFTs than music career

• Amazon is giving away free gaming NFTs

ALTCOINS

Blockchain casinos just hit jackpot 🎰

Ever feel like traditional casinos are a bit, you know, last century? Blockchain casinos are the new shiny thing, and they're as decentralized as a chaotic family reunion.

Here's a scoop on 2 casino projects that are the talk of the town:

1/ Rollbit 

• Market cap leader in casino category

• +80.9% past week

• They’ve got everything from roulettes to sports betting

• Actively buys back its utility token — $RLB with revenue

• 24H Casino Revenue: $1,031,754

However, they still have a centralized structure, which is a bit like hosting a punk rock concert in a library. It doesn’t quite solve all the problems blockchain is supposed to fix.

2/ WINR Protocol

• 7-day top gainer

• +132.6% past week

• Fully on-chain casino

• Anyone can create their own service using WINR protocol

• Revenue sharing for $WINR token stakers

However, its one and only casino platform JustBet, doesn't quite offer as many features, and doesn’t have a user experience quite as slick, as Rollbit.

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Beyond these leaders, these projects on the horizon are also worth your attention:

1/ Zkasino

A fully on-chain casino platform with no utility token but a whopping total wagered of $283 million in just six months.

Their key roadmap has something called Bankroll Pools, where anyone will be able to provide liquidity to available bankrolls, and those liquidity providers will receive a share of revenue. Sounds fancy, right? It's worth a look if you're into investing in online casino house itself.

2/ Fareplay

In Fareplay, you can only bet their own $FARE token. If you win, the protocol will mint new tokens to pay you out. If you lose, they burn the tokens you placed as bets.

And with the house having a slight advantage, the more the platform is used, the fewer $FARE tokens in circulation. A built-in deflationary mechanism at play!

REGULATION

Fed targets stablecoins day after PYUSD launch

On Tuesday, the U.S. Federal Reserve (Fed) announced enhanced regulations for cryptocurrency-related banking activities. This comes just a day after PayPal’s announcement of their PYUSD stablecoins.

These below rules are meant to keep things steady in the banking world, as crypto-related businesses have the potential to shake up banks:

1. Pre-approval needed for stablecoins: Banks looking to get into stablecoins must get a thumbs-up from the Fed first. They'll need to demonstrate that they can handle cyberscurity threats, liquidity issues, consumer protection, illegal financial activities, and a bunch of other risks.

2. Bank collaboration with non-bank entities: Even if a bank partners with non-bank players to offer blockchain-based services, they'll still be under regulatory oversight.

Market vibes are mixed. People are wary, given how Facebook's Libra project belly-flopped due to regulatory issues. Congresswoman Maxine Waters is also throwing shade on PayPal's stablecoin project, hinting it might be stopped.

Yet, it's not all gloomy. Patrick McHenry, the current chair of the House Financial Services Committee expressed support for PYUSD, and if PayPal rolls out PYUSD in line with the Fed's criteria, it could be the first stablecoin officially approved by the Fed. This could potentially help stabilize the price volatility that plagues stablecoins.

ALTCOINS

Look for your next 100x in Base

Alright, so remember that 2016 Secret Master Plan by Coinbase's big boss, Brian Armstrong? Yep, he was eyeing dapps as the final step to reel in the next billion users. 🚀

The latest step in this plan came on Wednesday with the official launch of the Base blockchain. This Ethereum rollup, doesn't have its own native tokens, unlike most other L2 chains. Jesse Pollak, overseeing the chain, noted its vibrancy, boasting around 100 dapps active or ready to be deployed.

Now, let's talk investments. A new chain means new chances to make some fresh investments. Notably in the past, Arbitrum and Optimism drew attention, resulting in substantial price surges for tokens like GMX, MAGIC, and VELO.

With Base being the official blockchain of Coinbase, a top US crypto exchange, it's primed to gather significant attention. Investors eyeing tokens tied to promising dapps within the Base ecosystem might reap considerable profits.

Take Coinbase’s words for it

Coinbase's listed dapp categories like lending, investments, identity, remittances, to have better chances of housing "killer dapps" which would drive the pursuit of that billion-user milestone.

🐦 TWEET OF THE WEEK

I say we’re at disbelief.

💰 REWARD QUIZ

Quiz yourself, earn rewards

Did you learn something new today? Let’s see if you were paying attention. Buckle up for a 20-second quiz—we might just have a little treat for ya—just for trying!

Afraid of getting questions wrong?

Yes, the shiny 100 points are awesome, but remember, it's about getting your hands dirty and giving it a go. If you get something wrong? They stick in your memory longer, which means you learn more.

So, hop on board with the rest of our brave quiz-takers. Remember, it's ok to score a zero!

Alright, that's a wrap for now. If you made it to here, let us know by voting below👇.

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