Daily Alpha and Summary. October 16, 2024

DeFi

Fuel introduces L2– Fuel Ignition with block time of 1 sec and fees $0.0002. Fuel points phase 2 went live too

Radiant Capital faced a $50M exploit targeting its lending pool on BNB and Arbitrum, affecting assets like USDT, USDC, and ARB. In response, the team confirmed the breach, paused markets on ETH and Base, and advised users to revoke smart contract permissions to safeguard their assets.

Permissionless restaking protocol, Symbiotic integrates with Avail for DA

State of the Market

AI agent— Truth Terminal, received $50K in Bitcoin from Marc Andreessen and used it to create viral AI-generated meme, $GOAT at $300MC atm

Italy plans to raise capital gains tax on cryptocurrencies from 26% to 46%.

https://watcher.guru/news/italy-to-raise-capital-gains-tax-on-bitcoin-from-26-to-42

Grayscale filed to convert its crypto funds, including Bitcoin, Ether, and Solana, into an ETF