PRICE CHANGE: WTD/YTD

- BTC ($10,259): -12% / +42%
- ETH ($353): -17% / +169%
- LTC ($48): -23% / +15%
- XRP ($0.24): -14% / +26%
- Crypto Market Cap ($330B): -11%  / +72% 
- BTC Dominance: 58%

STABLECOIN MARKET CAP CHANGE: WTD/YTD

- Tether ($14.2B): +42% / +242%
- USDC ($1.7B): +17% / +230%

THIS WEEK IN CRYPTO

- SushiSwap, a new DeFi protocol that was forked from Uniswap, hit more than $700 million in total value locked in just three days. Unlike Uniswap, Sushiswap rewards its users partially with a governance token called SUSHI. Uniswap currently distributes 0.30% of all trading fees as rewards to liquidity providers in any pool, while SushiSwap rewards liquidity providers with 0.25% of trading fees and 0.05% that is converted back to SUSHI tokens. Link. 

- Chef Nomi, the mysterious founder of Sushiswap, cashed out some of his SUSHI holdings for over $10 million worth of ETH. He claimed it was not an exit scam. The decrease in liquidity led to a halving of the price in 24 hours, from $5 to $2.35. Link. 

- Days after coming under fire for selling part of his SUSHI tokens, Chef Nomi transferred project control of his project SushiSwap to FTX CEO Sam Bankman-Fried. The price of SUSHI tokens doubled on the news. Link. 

- Bitcoin prices fell in August after reaching highs of over $12,000 in the middle of the month. Link. 

- Crypto exchange FTX is acquiring popular crypto portfolio tracking app Blockfolio for $150 million (combination cash, cryptocurrency, and stock). Blockfolio has been downloaded more than 6 million times and has raised $17 million to date. Link. 

- The aggregate supply of stablecoins passed $16 billion in August. Transaction volume surpassed $114 billion, a 4th consecutive monthly all-time high and more than 5x the average monthly volume in 2019. Link. 

- Marc Andreessen and Gokul Rajaram, an executive at DoorDash, are joining the Coinbase board. Marc is joining as a Board Observer and Gokul is joining as Board Director at the designation of the DFJ Growth Fund. Link. 

- The IRS says that cryptocurrency earned from microtasks is considered taxable income. For example, users who receive crypto for actions like leaving reviews, downloading games, or completing surveys, will be taxed on those earnings. Link. 

- Pornhub's 130 million daily visitors can now pay for premium subscriptions in bitcoin and litecoin, in addition to a handful of other cryptocurrencies already offered. Link. 

- The Ethereum Classic blockchain was hit with its third 51% attack in a month after continued low hash rates. The attack saw a reorganization of over 7,000 blocks (2 days' worth of mining). The ETC community proposing strategies to mitigate the risk of 51% attacks, though if they can't find a solution the coin could face delisting from major exchanges. Link. 

- Five executives of CoinMarketCap, including interim CEO Carylyne Chan, have been let go following Binance's $400 million acquisition of the company four months ago. Binance plans to replace the executives with their internal staff. Link. 

- Binance has launched a Uniswap competitor called Binance Liquid Swap. The automated market maker will allow users to earn interest in addition to a cut of the trading fees for the pool. Uniswap is currently the world's most popular token swapping protocol with over $1.8 billion in liquidity. Link. 

- Circle now allows businesses to pay sellers in local currencies, not just USDC. This feature is part of Circle's ongoing efforts to provide users with seamless ways to use digital currencies. Link. 

- CryptoKitties launched a pair of limited edition cats inspired by the rock band Muse. The band's label, Warner Music Group, is an investor in Dapper Labs, parent co of CryptoKitties. Muse Kitties are the first-ever officially licensed music merchandise on the blockchain. Link. 

- Coinbase is developing a token launch platform called Coinbase Launch which will allow startups to launch their own tokens. Coinbase will help customers create the smart contracts, manage governance issues, and structuring distributions. Link. 

- Blockchain-based voting platform Voatz successfully recorded nearly 2,000 smartphone votes at the virtual Michigan Democratic Party Convention. Voatz is conducting pilots in other states including Arizona, Michigan, and West Virginia. Earlier this year MIT researchers blasted Voatz, claiming the app wasn't secure against hacking. Link.