Soooo…a somewhat important event just happened - the US Presidential Election - and Trump came out victorious.

Regardless of your political stance, this is certainly good for the crypto markets.

Bitcoin broke its all-time high and is currently sitting at $75,806 (it’s Nov 6, 5PM ET as I’m writing this). Many alts are up double digits today. Everything is looking green.

Interesting times ahead, on many fronts!

In this edition of the newsletter, we talk about:

• Demether’s testnet launch

• Two new Mik and Mike episodes

• Stripe buys Bridge for $1.1B

• And more!

And if you’ll be at Devcon in Bangkok, hit me up on Telegram and let’s meet up.

Let’s go!

Portfolio Company Highlights

Demether’s Testnet is Now Live!

Liquid restaking protocol Demether had a big October!

Demether provides TVL-as-a-Service to help blockchains attract and retain capital by rewarding users for their ongoing loyalty to an ecosystem.

Here’s what they accomplished:

• They launched the Demether testnet on the Morph L2

• Integrated Particle Network so their dapp is compatible with 7 major wallets

• Executed marketing campaigns on Galxe and Task On, garnering over 7,000 participants

• Held multiple AMAs with Movement Labs, Rise Chain, and others

Read more about Demether’s achievements in October below.

Interverse Launches Moonday

DV PortCo Interverse just launched Moonday, which blends the excitement of token launches, crypto trading, and social networking!

Users can launch and trade multichain tokens on Sui and Solana, earn points to claim airdrops, connect with friends, compete with others, and much more.

If you’d like to give Moonday a shot, check it out here.

Numbers Protocol Partners with China Times

Numbers Protocol finalized a contract with The China Times, one of the largest news media organizations in Taiwan!

Details are forthcoming but this partnership will certainly drive attention towards Capture App, Numbers’ app for content verification and provenance.

New Content

Mik and Mike Crypto Cast

We have two new episodes of the Mik and Mike Crypto Cast.

In our October 16 episode, we discuss multiple fundraises in the AR/VR space.

Will the metaverse make a comeback soon?

In our October 22 episode, we talk about the launch of Unichain by Uniswap, the crazy $GOAT story, and more!

Let us know what you think about these episodes, and if there are specific topics you’d like us to discuss.

Industry News

Stripe acquires Bridge for $1.1B

Massive payments company Stripe has acquired stablecoin API provider Bridge for $1.1B.

This is the largest crypto acquisition to date, with Bridge being in existence for only 2.5 years!

Bridge helps anyone integrate stablecoin capabilities into their products, allows them to issue their own stablecoins, and move funds across the globe.

Stablecoins are the killer use case of crypto right now, and this acquisition proves this out.

Read more here.

Who is Satoshi?

First, HBO released a documentary, "Money Electric: the Bitcoin Mystery," that claimed Peter Todd is Satoshi.

Then a guy named Stephen Mollah claimed to be Satoshi at a weird event in London.

Let’s stop the charade and leave Satoshi alone, shall we?

Crypto and AI is getting weird

Here’s the synopsis of the crazy story of $GOAT:

• A guy creates a chatroom where two instances of the Claude Opus LLM talk to each other freely.

• The bots ended up inventing the "goatse of gnosis", inspired by the early internet shock meme of some dude doing nasty stuff with his butthole.

• Parts of this conversation is posted on Twitter via the Terminal of Truth account.

• Based on Terminal of Truth requests, Marc Andreesen funds it with a $50K Bitcoin grant.

• Someone creates a memecoin called $GOAT, which Terminal of Truth promotes.

• The market cap of $GOAT reached over $800M, and now sits at around $715M.

WTF!

Read more here.

Conclusion

We hope you enjoyed this edition of the DV monthly newsletter!

Hit me up at [email protected] or @mikewchan on Telegram with your thoughts about the newsletter, what’s happening in crypto, or anything else!

Give us a follow on Xwitter @deepventuresvc, @mikewchan, and @sherm8n and Deep Ventures on LinkedIn.

Talk soon!