The coins staked worth $122 million and represent a small fraction of FTX's holdings of Solana.

FTX estate seems to be bullish on Solana’s native token SOL (SOL), as it staked over 5.5 million in SOL coins on Oct. 13. According to on-chain data, an FTX-identified wallet sent the coins to Figment, a staking validator firm for institutional investors. 

The transaction was detected by blockchain tracker Whale Alert and later identified as an FTX estate address by pseudonymous on-chain researcher Ashpool. The coins staked worth $122 million and represent a small fraction of FTX's holdings of SOL.

Staking involves locking up a specific amount of coins for a set period of time. Staking holders receive SOL coins rewards for securing the network with their stakes.

FTX was an early investor in Solana and receives every month a significant volume of SOL unlocked according to the established vesting schedule. FTX estate has the option of liquidating these holdings at any time. The FTX estate is overseen by a bankruptcy trustee. Its primary role involves the recovery of assets to the exchange’s creditors.

FTX estate is staking 5.5M SOLhttps://t.co/ajRgBHFNt9 https://t.co/UGorSGMtwC

— ashpool (@solanobahn) October 14, 2023

In September, a U.S. court approved the sale of $1.3 billion in SOL from FTX, causing concerns among holders about a slump in prices. To avoid adding burdens on the crypto market, the bankruptcy court demanded the sale occur through an investment adviser in weekly batches. The decision drove SOL's price to a two-month low of $17.34 on Sept. 11.

FTX holds $3.4 billion in Digital Assets A, which is the top 10 assets the company holds, including Solana, Bitcoin (BTC), Ether (ETH), Aptos (APT) and other cryptocurrencies. According to court filings from September, over $7 billion has been recovered since the exchange filed for bankruptcy protection last November.

Sam Bankman-Fried, co-founder of FTX, is on trial at a district court in Manhattan accused of fraud and conspiracy to commit fraud. If found guilty, he could serve up to 115 years in prison.

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Internal combustion engine (ICE) vehicles continue to lose market share to electric vehicles, a trend Wall Street analysts predict will continue as more automakers launch more new models.

So far, the EV Goliath has remained the industry’s pioneer, Tesla  (TSLA) - Get Free Report. Tesla wasn’t the first EV to hit the market, but was the first to capture widespread attention among mainstream buyers by focusing on performance and luxury.

The evolution of Tesla’s EV lineup has expanded, allowing it to increase its sales volume steadily. The Model Y entered it into SUVs, while the Model 3 allowed it to compete in the sub-$40,000 family sedan market.

The success of these models stems from Tesla’s never losing sight of its roots. Both models target luxury and performance-minded buyers.

However, the company’s dominance among luxury car shoppers may be near a tipping point. The latest data shows that Tesla remains – by and far – the leading EV automaker. However, it also shows a top luxury brand is chipping away at its lead.

Sales of electric vehicles are soaring

The media's attention on electric vehicles may have you thinking that EVs already represent a significant share of total vehicles sold.

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That’s not the case. EV sales totaled 313,000 in the third quarter, up 49.7% from one year ago, according to Kelly Blue Book. That’s significant growth, given total U.S. light vehicle sales, including ICE vehicles, only grew by about 15%.

Yet, EVs still only account for a fraction of the U.S. total vehicle market, accounting for only 7.9% of all vehicles sold last quarter.

Clearly, there’s much more room for EV makers to grow and plenty of opportunities for luxury brands to roll new models off production lines. So, while Tesla is in the lead now, its pole position isn’t guaranteed.

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This luxury brand’s new EVs see sales surge

Mercedes-Benz  (MBGAF) - Get Free Report is one of the world’s most prominent luxury vehicle makers. Its vehicles have always been one of the most desired by wealthy buyers, and its AMG line-up is a benchmark for high-end performance vehicles.

Mercedes-Benz’s attention has increasingly shifted toward EVs, and its recently launched models are winning over consumers. In the third quarter, Mercedes-Benz sold 4,457 of its new electric EQE Sedans and EQE SUVs.

It also enjoyed solid sales growth for other EVs, including a 476% sales increase for the $104,000 EQS SUV and a 342% increase in sales of its 5-seater EQB SUV, with a starting price point of around $54,000.

The only EV model that saw sales slip was the EQS Sedan. Mercedes-Benz sold 1,100 of the $105,000 car, 35% fewer than last year, likely because more buyers opted for the new cheaper EQE, which has an MSRP of about $75,000.

Opting for the AMG variation of the EQE will set you back $108,000, but that price tag nets sub-4 second zero to 60 mph times.

Overall, Mercedes-Benz sold 10,423 EVs in the quarter, up 284% from a year ago. That was good enough to give it a 3.3% market share across the entire EV market.

Mercedes-Benz’s strength may come at Tesla’s expense. Tesla’s high-end Model S only sold 3,132 units last quarter, down 65.8% from last year, and its Model X, which costs $80,000, saw sales dip 28% to 4,699 vehicles.

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MetaMask was removed from Apple’s App Store for a few hours on Oct. 14, reviving concerns about legal challenges with Big Techs.

Ethereum wallet MetaMask went offline on Oct. 14 for several hours on Apple's App Store, raising concerns about its removal. MetaMask claims to have over 30 million users. The wallet is connected to a range of Web3 decentralized applications (DApps)

On Oct. 14, reports surfaced that the MetaMask app no longer appeared in the App Store. Apple users were also unable to download the application from the MetaMask website.

According to a spokesperson for MetaMask, the issue isn't related to any security incident or malicious activity:

"We're aware that MetaMask isn't currently available for download on the App Store. This issue is unrelated to any malicious activity. Our dedicated team is working diligently to resolve it as quickly as possible. Importantly, this is not a security concern, and there is no compromise or action required on users’ part. Additionally, it's not related to the app's functionality."

Apple's service policies are likely behind the app's disappearance. According to the marketplace's guidelines, it doesn't allow apps to run "unrelated background processes", such as cryptocurrency mining.

According to MetaMask, the removal of its app was only temporary. "We anticipate that MetaMask will be back on the App Store shortly," a spokesperson said minutes before app turned back on, adding that any fake MetaMask apps on the App Store should be reported immediately.

MetaMask faces challenges from Big Tech marketplaces for the second time. In December 2019, the company was suspended from Google Play's app store for allegedly violating the company's financial services guidelines. Google cited its policy prohibiting cryptocurrency mining on mobile devices and promptly rejected a MetaMask appeal to reverse the ban.

Apple's guidelines also require app developers to share 30% of transaction revenues. For crypto firms, including those that want iOS users to be able to purchase nonfungible tokens (NFT), the 30% Apple tax has also been a barrier.

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