Here are the three biggest stories in crypto to look out for this coming week

THE BLOCKОпубліковано о 2022-11-06Востаннє оновлено о 2022-11-06

Анотація

November kicked off with a flurry of crypto earnings last week and another hawkish Fed news conference. Here's whats on the docket for the coming week.

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Solana’s Breakpoint conference in Lisbon.

Crypto earnings continue to roll in with Bakkt and Galaxy digital slated for this week.

U.S. inflation figures for October are set to be released on Thursday.

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November kicked off with a flurry of crypto earnings last week and another hawkish Fed news conference. Here's whats on the docket for the coming week:

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Web Summit kicked off in Lisbon last week with a host of crypto-focused events and speakers; this week, Portugal's capital is the venue for Solana's Breakpoint. Elsewhere, crypto-related earnings continue and U.S. inflation data for October will be released on Thursday.

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Watch for news from Breakpoint

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Solana's Breakpoint conference continues in Lisbon this week. It began on Friday and will run through Monday.

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The event features panels and talks from a host of developers and founders working in the Solana ecosystem. Jump Crypto's Kanav Kariya joins Igor Ddruzhinin of P2P and Wormhole engineer Csongar Kiss on Monday to debate multi-chain vs. cross-chain.

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Crypto Earnings

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Coinbase, MicroStrategy, and Block all shared third-quarter earnings last week, and more crypto-related firms are scheduled for this week.

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On Tuesday Marathon Digital shares its earnings after the close. Galaxy Digital delivers its results pre-market on Wednesday with Roblox also coming in then. On Thursday, Hut 8 and Bakkt will share their third-quarter results.

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Many speculators will be keeping a close eye on crypto miners' earnings. Miners are increasingly coming under pressure, with several firms facing potential solvency issues.

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U.S. inflation data for October drops on Thursday

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CPI figures for October are scheduled for release on Thursday; keep an eye on the data to see if the Fed's rate hikes are beginning to taper prices.

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The Fed has continued its hawkish stance, while allowing that the pace of interest rates may slow. Inflation was hot in September, rising by 0.4% month-on-month and 8.2% year-on-year.

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Americans will have cast their votes in the midterm elections by the time U.S. inflation data drops.

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The Wall Street Journal investigation reveals that prediction market platform Polymarket hired dozens of creators, primarily students, to produce and disseminate deceptive promotional content on social media. These creators used fake, near-identical clone websites (like "poiymarket.com") to simulate placing bets and winning large sums—totaling $1.9 million in fake wagers and nearly $900,000 in fake winnings across over 1,100 analyzed videos—without disclosing their paid partnership with Polymarket, as required by federal advertising regulations. The videos, often promoting unrealistic "free money" claims, were amplified by a coordinated "army" of social media accounts managed by a marketing contractor to target U.S. users, despite Polymarket's crypto platform being barred from serving the U.S. since a 2022 settlement. Polymarket stated it is committed to fair and transparent markets and plans a comprehensive audit of its promotional content. The article also notes internal discussions about potentially overturning the 2022 settlement to reintroduce its crypto platform in the U.S.

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A Wall Street Journal investigation found that prediction market platform Polymarket used a deceptive marketing campaign involving dozens of paid creators, mostly college students, to fabricate a narrative of easy, high-profit betting to attract U.S. users. The creators produced over 1,100 social media videos showing themselves placing bets and celebrating large, fake wins—totaling nearly $900,000 in fabricated profits—on simulated versions of the Polymarket website. These "poiymarket" clone sites, created by Polymarket, were nearly indistinguishable from the real site but contained subtle errors. The creators, paid $2,000-$3,000 monthly, were allegedly instructed not to disclose their paid partnership. The campaign, managed with a marketing contractor, also employed a "slicer" army to virally repost content, amassing over 140 million views. Videos sometimes highlighted the ease of insider trading on the platform. Polymarket, which has been barred from offering its core crypto platform in the U.S. since 2022, stated it is committed to accurate, fair, and transparent markets and plans a comprehensive audit of its promotional content. The fake websites were taken down after the WSJ's inquiry.

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From Logo to Bo Niu: TRON Further Perfects Its Brand Visual Assets

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