Google’s cloud computing division, Google Cloud, has announced it’s now running a validator node on the Solana blockchain, and is set to add features aimed at welcoming Solana developers and node runners.

Leading cryptocurrency exchange Binance has announced it has decided to sell all of its remaining FTT tokens. FTT is the native token of the FTX ecosystem, a rival cryptocurrency exchange.

Popular non-fungible token (NFT) marketplace OpenSea has seemingly taken a position in the NFT royalties debate with the launch of a new blockchain-based tool to help creators enforce royalties.

Top stories in the Crypto Roundup today:

• Google Cloud Becomes Solana Network Validator
• Binance to Sell Over $500 Million Worth of FTX’s FTT Token
• OpenSea Launches Blockchain Tool to Enforce NFT Royalties
• Average Daily Aggregate Product Volumes

Google Cloud Becomes Solana Network Validator

Google’s cloud computing division, Google Cloud, has announced it’s now running a validator node on the Solana blockchain, and is set to add features aimed at welcoming Solana developers and node runners.

The move comes after Google revealed its Blockchain Node Engine service at the end of last month, which is a “fully managed node-hosting service that can minimize the need for node operations.”

On social media, Google Cloud revealed it’s now running a block-producing Solana validator to participate in and validate the network, while working to bring Blockchain Node Engine to Solana next year.

Google Cloud is also indexing the Solana blockchain and bringing the data to its “Big Query” platform next year in a bid to “make it easier for the Solana developer ecosystem to access historical data.”

Binance to Sell Over $500 Million Worth of FTX’s FTT Token

Leading cryptocurrency exchange Binance has announced it has decided to sell all of its remaining FTT tokens. FTT is the native token of the FTX ecosystem, a rival cryptocurrency exchange.

Binance used to have a minority stake in FTX, but it exited its investment last year, and received at the time $2.1 billion in BUSD and FTT. It has now decided to unload its remaining FTT tokens after “recent revelations came to light,” according to Binance’s CEO Changpeng Zhao.

Binance holds around 23 million FTT, worth over $500 million. Per Zhao, Binance’s sale will take months to complete, due to “market conditions and limited liquidity.” Zhao did not specify what revelations he was referring to, although some speculated it was a leaked balance sheet of Alameda Research, a crypto trading firm owned by FTX CEO Sam Bankman-Fried.

Alameda’s balance sheet revealed it was seemingly propped up by FTT. The balance sheet revealed there Alameda’s balance sheet included $5.82 billion of FTT, while FTT’s entire supply is slightly above $3.3 billion.

Alameda Chief Executive Officer, Caroline Ellison, said on social media that the balance sheet was a “subset of our corporate entities” and that the firm has over $10 billion of assets that weren’t reflected on it. Ellison later offered to buy Binance’s FTT at $22 a piece.

OpenSea Launches Blockchain Tool to Enforce NFT Royalties

Popular non-fungible token (NFT) marketplace OpenSea has seemingly taken a position in the NFT royalties debate with the launch of a new blockchain-based tool to help creators enforce royalties.

The marketplace’s CEO Devin Finzer noted in a blog post that where platform fees were optional they’ve observed the “voluntary creator fee payment rate dwindle to less than 20%,” while in other marketplaces creator fees are “simply not paid at all.”

Finzer announced the marketplace launched a new tool that will allow creators to deliver “on-chain enforcement” of their royalties.  He described it as a “simple code snippet” that allows creators to enforce royalties on new and future collection smart contracts, and existing upgradeable smart contracts.

Average Daily Aggregate Product Volumes

 

Average daily aggregate product volumes across all digital asset investment products fell 34.1% to $61.3 million in October. This continues a downward trend in volumes witnessed since November 2021, with the exception of a slight 0.39% rise in May.

It is the second month since September 2020 in which average daily volumes have fallen under $100mn. Find out more via CryptoCompare’s latest Digital Asset Management Review

State of the Crypto by Top Tier Exchange Volume

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