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🇺🇿 Banks Allowed to Issue Crypto Mastercard Cards in Uzbekistan
Uzbekistan’s National Agency of Perspective Projects (NAPP), a regulatory body working under the country’s presidential administration, has permitted two domestic banks to issue bank cards for cryptocurrency payments. In an announcement this week, NAPP said it had approved the participation of Ravnaq Bank in a pilot project to create a virtual bank card that can be topped up with cryptocurrencies. Earlier this month, the agency confirmed that another banking institution, Kapital Bank. The project provides for the development and implementation of a new bank card product called “Crypto Card – Uznex,” the NAPP said. It will feature “automated replenishment of a bank card account with cash through the accelerated sale of crypto assets located in a crypto wallet opened on a partner’s crypto exchange for settlement operations,” the regulator explained. The government of Uzbekistan has been taking steps to regulate the Central Asian nation’s crypto sector. In late 2022, NAPP, which is subordinated to President Shavkat Mirziyoyev, approved regulations for the issuance and circulation of crypto assets. Starting from Jan. 1, 2023, Uzbekistani citizens and legal entities have been allowed to trade crypto assets.
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💰 BlackRock And Bitwise Bitcoin Spot ETF May Be Delayed On Next September 1
The SEC’s impending response to the Bitcoin spot ETF application submitted by BlackRock and Bitwise has caught the attention of market analysts. Industry insiders speculate that the SEC might withhold approval for the Bitcoin spot ETF for several compelling reasons. A crucial factor revolves around the anticipated shift in crypto regulatory dynamics following the upcoming elections. Notably, influential political figures from diverse backgrounds have previously expressed concerns about the potential risks associated with cryptocurrencies. It’s worth recalling that the SEC initiated its exploration into the cryptocurrency realm during the tenure of Jay Clayton, a Republican Party nominee for the position of SEC Chair. Enthusiasts of cryptocurrencies have long awaited the establishment of a Bitcoin exchange-traded fund, a desire that spans a decade. However, numerous attempts at securing regulatory approval have been met with rejections from US regulators, citing concerns about fraud and market manipulation within crypto markets. The participation of BlackRock Inc., a heavyweight in the asset management sector, has kindled optimism among market observers that approval for one or more spot-Bitcoin ETFs might finally materialize. BlackRock’s history of navigating regulatory challenges adds weight to this optimism.
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🇺🇸 SEC asks court to certify for interlocutory appeal in Ripple Labs case
The SEC on Friday filed a motion with the U.S. District Court in the Southern District of New York, asking it to certify for interlocutory appeal in its ongoing dispute with Ripple Labs. The latest request came just a day after the judge in the case said the regulator could proceed to file for the appeal. Ripple has until Sept. 1 to file its response to the latest SEC motion, according to the filing. The SEC had already said earlier this month that it planned to appeal the partial defeat in July that sent the XRP token surging. In an accompanying filing, SEC lawyers argued that how the court handles the Ripple case could have a "substantial impact" on other pending litigation like those between the regulatory agency and top crypto trading platforms Binance and Coinbase. The regulatory agency also said that an immediate appeal is warranted "because they involve controlling questions of law as to which there are substantial grounds for difference of opinion, and obtaining an appellate ruling on these issues now may materially advance the ultimate termination of this litigation." Earlier this week, Ripple opposed the SEC's planned move, asserting that there is "no extraordinary circumstance here that would justify departing from the rule requiring all issues as to all parties to be resolved before an appeal."
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⚪️ PayPal’s PYUSD Stablecoin To Launch On Kraken On August 21
In a significant development, PayPal’s US dollar stablecoin, PYUSD, has been officially introduced on the Kraken platform. The integration of PYUSD into Kraken marks a significant milestone in the cryptocurrency landscape. To add PYUSD to their Kraken accounts, users can follow the simple process of navigating to the Funding section, selecting the asset, and initiating a deposit. The announcement details that users can now engage in deposits and withdrawals using PYUSD. The stablecoin is scheduled to commence trading on Kraken starting on August 21. It’s important to note that only deposits made on the Ethereum network will be supported, as deposits made on other networks will not be processed. Recently launched by PayPal, the PYUSD stablecoin aims to streamline virtual transactions, particularly within the realm of blockchain payments. Built on the Ethereum blockchain, PYUSD will be initially accessible on PayPal and subsequently on Venmo. The stablecoin facilitates convenient conversion to dollars at any point in time, enhancing its usability for everyday transactions. PYUSD stablecoin into its spot trading platform. While the official inclusion date has yet to be announced, this move underscores the growing recognition of PYUSD within the cryptocurrency ecosystem.
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💰 Celsius Nears Asset Sale To Fahrenheit Consortium Amidst Legal Turbulence
Crypto lending firm Celsius, which faced bankruptcy proceedings last year, has received the green light from a judge to proceed with a voting process concerning the sale of its assets to the Fahrenheit consortium. The proposed plan aims to offer creditors a restitution range spanning from 67% to 85% of their holdings, with a major portion of the reimbursements planned in Bitcoin and Ethereum. Scheduled between August 24 and September 22, the voting procedure will involve a consortium led by notable entities like Arrington Capital and U.S. Bitcoin Corp. The firm’s ex-CEO, Alex Mashinsky, faced fraud charges that led to his arrest in July. However, the company itself remained unindicted. Moreover, Celsius asserts that its plans to reimburse its customers will not be hindered by the $4.7 billion fine imposed on it by the Federal Trade Commission. A legal case was brought forward by former director James in January, which foreshadowed an unveiled indictment last month. This indictment alleged that between 2018 and June 2022, Mashinsky masterminded a comprehensive scheme to mislead Celsius customers, artificially inflating the value of its proprietary token, CEL. Mashinsky, however, has categorically denied these charges. Earlier proposed plans by Celsius involved creating a new entity owned by the creditors.
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🇰🇿 Canaan Pauses Mining in Kazakhstan since July 2023 Amid Regulatory Difficulties
Canaan, a US-listed Bitcoin mining machine company, has taken a strategic move by temporarily halting around 2.0 Exahash/s of its mining hashrate in Kazakhstan since July 2023. This decision follows the recent implementation of the Rules for Licensing of Digital Mining Activities by the Ministry of Digital Development, Innovations, and Aerospace Industry of the Republic of Kazakhstan. These regulations stem from Law No. 193-VII on Digital Assets, enacted in April, and provide a framework for cryptocurrency mining within the country. As a result of these changes, Canaan’s local partner has initiated the process of obtaining a specialized license, a prerequisite for engaging in cryptocurrency mining as per the new regulations. This step towards legal compliance addressed the potential challenges highlighted by Canaan itself. The company expressed concerns about decreased uptime and its potential negative impact on bitcoin generation and mining revenue starting in Q3 2023. While this adjustment aims to ensure conformity with evolving regulatory landscapes, Canaan continues to grapple with additional challenges. The firm is navigating a dispute in the United States regarding its mining operations. This further compounds its efforts to maintain efficient Bitcoin generation and overall profitability.
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⚫️ Injective Releases Largest Tokenomics Upgrade With New INJ Burn 2.0 Mechanism
Injective, the fastest L1 blockchain, has announced the release of its largest tokenomics upgrade yet. The upgrade, called INJ Burn 2.0, will enable any dApp on Injective to contribute to burn auctions, extending the benefits of the token burn mechanism to a wider array of protocols. All protocols have the option to allocate the amount they would like to contribute to the auction, and can even allocate up to 100% of their collected fees to the auction basket. Previously, the Token Burn Auction auctioned off 60% of all fees collected on exchange dApps built on Injective and subsequently burned the tokens used to pay for the auction basket. During the weekly burn event, every exchange dApp directed 60% of its transaction fees into an auction basket, offering community members an opportunity to compete for the complete winnings of that week through their bids. This monumental upgrade holds considerable promise for the Injective community as a whole. By enabling a broader spectrum of use cases to be integrated into the buy-back-and-burn mechanism, the platform unlocks a new level of utility for the native INJ token.
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💰 Sui Builder House In Singapore Making Big Steps For Web3 Applications
The official announcement from the next Sui Builder House, taking place in Singapore on September 15 and 16, promises to bring a new step forward for future Web3 applications. Sui Builder Houses are the center of the in-person Sui universe. Our Builder Houses provide opportunities to meet and collaborate with Sui builders across the globe and learn the latest technologies and updates for building on the Sui platform. Scheduled between Token2049 and the Formula 1 Singapore Grand Prix,. The event will be held at T:>Works, a performing arts theater at 72-13 Mohamed Sultan Road near the Singapore River. Sui Builder Houses offers educational content in a variety of formats. In Singapore, the main stage will feature a series of panels and chats where experts will discuss innovations such as zkLogin and other features of the Sui ecosystem. Participating builders can network with other developers, Sui Foundation team members, business leaders, and potential investors. Each day’s schedule, from 10 am to 5 pm, will include plenty of time to connect. The Builder House will host a special reception at Artemis on September 15, letting participants relax and chat.
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🇺🇿 Uzbekistan’s Banks Launch Mastercard-backed Crypto Cards With Positive Move
Uzbekistan’s strides towards embracing the crypto realm have taken a significant leap with the approval of Kapital Bank and Ravnaq Bank by the National Prospects Project Agency (NAPP). An intriguing facet of this development is the imminent introduction of physical crypto cards backed by the global payment giant Mastercard. The crypto card, aptly named UzNEX, will not only integrate a bank account but also provide access to a cryptocurrency exchange portal, catering to the growing demand for seamless transactions. The initiative marks a pivotal shift in Uzbekistan’s stance on cryptocurrencies, aiming to position itself as a crypto-friendly hub in Central Asia. However, the journey hasn’t been devoid of hurdles. The government previously clamped down on unlicensed crypto activities, leading to restrictions on prominent international exchanges like Binance, FTX, and Huobi. Interestingly, Kapital Bank and Ravnaq Bank are among the three registered entities in the national digital sandbox, symbolizing their commitment to innovating and navigating the evolving crypto landscape. Uzbekistan’s transformation has been multifaceted; where once cryptocurrency purchases were prohibited, the National Agency for Project Management (NAPM) has endeavored to turn the tide.
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⚪️ PayPal And Ledger Forge Path For Mainstream Crypto Adoption With Innovative Partnership
PayPal has joined forces with Ledger, a digital asset hardware wallet manufacturer, to introduce a fiat currency gateway for its US users, according to CoinPedia. This strategic alliance empowers PayPal’s clientele to seamlessly trade cryptocurrencies from within their PayPal accounts while also ensuring the safekeeping of their digital assets through Ledger’s hardware wallet solutions. As the adoption of blockchain technology continues to rise, similar collaborations are anticipated to shape the evolving landscape of digital currencies. PayPal unveiled its own stablecoin, PYUSD, tailored for payments and transfers. Issued by the Paxos Trust Company, the PYUSD is fortified by U.S. dollar deposits, short-term U.S. Treasuries, and analogous cash equivalents. The rollout of this stablecoin is currently underway for U.S. customers. Eligible U.S. patrons of PayPal who engage with PYUSD can effortlessly transfer the stablecoin between the platform and external wallets, initiate person-to-person payments employing PYUSD, allocate PYUSD for purchases during checkout, and convert any of the company’s supported cryptocurrencies to or from PYUSD. PayPal has also revealed that it will be taking additional measures in compliance with new rules issued by the UK’s.
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🇪🇺 Jacobi Asset Management Launches Europe’s First Sustainable Bitcoin ETF On Euronext Amsterdam
London-based Jacobi Asset Management has successfully introduced Europe’s inaugural Bitcoin exchange-traded fund (ETF) on the Euronext Amsterdam exchange, securing the go-ahead from the Guernsey Financial Services Commission. What sets this ETF apart is its adherence to Article 8 of the European Sustainable Finance Disclosure Regulation, presenting a decarbonized digital asset fund. In a pioneering move, it incorporates a verifiable Renewable Energy Certificate (REC) solution, aligning investors’ goals with environmental, social, and governance objectives. Despite initial delays prompted by the Terra ecosystem’s collapse and the FTX crypto exchange’s bankruptcy, the Jacobi FT Wilshire Bitcoin ETF is now in full swing. Managed by Fidelity Digital Assets and served by Flow Traders as market makers, the ETF entails an annual management fee of 1.5%. This innovative ETF introduces a distinct perspective on environmental sustainability. By quantifying Bitcoin’s energy consumption within the ETF, it procures equivalent RECs as opposed to relying on traditional carbon offsetting mechanisms. Custodial services are entrusted to Fidelity Digital Assets, while Flow Traders functions as the ETF’s market maker. Jane Street and DRW, as Authorized Participants, contribute to the fund’s operational structure.
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🪙 tBTC Launches On Solana, A New DeFi Opportunities For Bitcoin Holders
tBTC’s debut on Solana marks a significant moment in DeFi, opening new opportunities for BTC holders. With six network integrations. tBTC’s recent debut on the Solana blockchain marks a significant moment in the decentralized finance (DeFi) world. As the first decentralized tokenized Bitcoin on Solana, opening up new opportunities for Bitcoin holders, broadening the horizons for crypto enthusiasts and linking the robust world of Bitcoin with Solana’s scalable infrastructure. Earlier this year, tBTC set forth a bold vision to bridge the gap between Bitcoin and DeFi. The dedicated efforts of the Threshold DAO, the decentralized organization propelling tBTC, and strategic integrations with significant platforms like Curve DAO, Yearn.Finance, Synthetix, and many more were instrumental in making this vision a reality. With the recent Solana launch, it now stands strong on six networks, further enhancing its integration into the Solana ecosystem. This integration is made possible through a strategic alliance with Wormhole, a cross-chain communications protocol touted as the gateway to unlocking liquidity for Bitcoin holders in DeFi.
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🥇 Bitcoin Network Achieves Milestone With 800,000 Blocks Processed; F2pool Leads Mining Activity
The Bitcoin network has crossed a remarkable threshold by successfully processing over 800,000 blocks since its inception, marking a significant achievement in its history. A comprehensive analysis of the mining landscape reveals interesting insights. Among the 99 different mining pools contributing to block discovery, a prominent role is played by unidentified miners, including the legendary Satoshi Nakamoto and early adopters. In terms of specific mining pools, F2pool emerges as a leading player. This mining pool has demonstrated remarkable prowess, having successfully mined around 80,364 blocks since 2009. This achievement translates to a significant contribution of approximately 10.01% of the total blocks processed by the network. The mining landscape is further characterized by significant contributions from other major pools. Btc.com Pool, Braiins Pool, and Viabtc secure their respective positions with 39,996 blocks, 39,647 blocks, and 33,194 blocks, highlighting the collective effort that drives the Bitcoin network’s continuous operation and growth.
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🟠 Binance Will Support Trading For CyberConnect (CYBER) And Sei (SEI) On Aug 15
According to the official announcement of Binance, the exchange will list CyberConnect (CYBER) and Sei (SEI) and open trades for trading pairs CYBER/BNB, CYBER/BTC, CYBER/FDUSD, CYBER/TRY, CYBER /USDT, SEI/BNB, SEI/BTC, SEI/FDUSD, SEI/TRY and SEI/USDT at 15:00 on 08/15/2023 (UTC). Additionally, Binance Spot Grid will be enabled for CYBER/BTC, CYBER/USDT, SEI/BTC, and SEI/USDT trading pairs within 48 hours of the start of trading. CyberConnect (CYBER) is described as a Web3 social network that allows developers to create social applications. The total token supply for CYBER is 100,000,000, with 3,000,000 CYBER (3% of total token supply) allocated to Launchpool Token Rewards. Sei (SEI) is defined as a layer 1 blockchain optimized for digital asset exchange. The total token supply for SEI is 10,000,000,000, with 300,000,000 SEI (3% of total token supply) assigned to Launchpool Token Rewards. As mentioned, on August 1, 2023, Binance rocked the crypto community with the news that both SEI and CYBER will launch on Binance Launchpool. This excited everyone, especially the community members of both projects.
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🇺🇸 Former President Donald Trump Holds $250,000 In ETH, Financial Report Discloses
According to Forbes, former President Donald Trump’s foray into the world of cryptocurrency has recently come to light through a financial disclosure unveiled last month. The disclosure reveals that Trump holds assets ranging from $250,000 to $500,000 in cryptocurrency wallets, specifically linked to a collection of non-fungible tokens (NFTs). These NFTs depict a range of cartoon-style trading cards featuring Trump in diverse outfits, from hunter’s camouflage to a superhero costume. The NFTs were initially introduced in December 2022 as a “limited edition collection” of 44,000 cards, priced at $99 each, which promptly sold out within a day. A subsequent batch in April enjoyed similar success. Earnings from the NFT venture appear to have exceeded $8.9 million, with Trump reportedly amassing $298,000 in licensing fees. The disclosed wallet, held under the Trump entity CIC Digital, showcases an intriguing dichotomy in Trump’s relationship with cryptocurrency. This revelation has sparked speculation about Trump’s potential interest in decentralized finance (DeFi) and cryptocurrency’s role in funding his potential 2024 presidential campaign. Such platforms offer anonymity, allowing funds to be amassed discreetly.
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💰 Mining 1 BTC in Lebanon is 783x cheaper than Italy: CoinGecko report
According to the report, Europe is home to nine of the 10 least profitable countries for Bitcoin mining, based on household electricity costs. A significant worldwide contrast exists in household electricity expenses for individual Bitcoin miners. While producing one Bitcoin in Italy costs $208,560, in Lebanon, it’s roughly 783 times cheaper, according to a recent report.However, solo Bitcoin miners find themselves at odds with the worldwide average of household electricity costs. The report identified Italy as the costliest country for household Bitcoin mining at $208,560 per Bitcoin. At the time of publication, this suggests the cost of mining one Bitcoin in Italy is equivalent to the value of approximately eight Bitcoin. Meanwhile, Lebanon’s household electricity rates allow individual miners to generate one Bitcoin for just $266. Based on this data, this is approximately 783 times cheaper than the cost to mine a Bitcoin in Italy. Iran followed, with a production cost of $532 per Bitcoin. However, despite Iran legalizing Bitcoin mining in 2019, the country has since banned legal operations on several occasions, citing stress on energy grids during winter.
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🇺🇸 Gemini Counters SEC’s Lawsuit Over Gemini Earn Project, Challenging Allegations
On August 19, Gemini, a prominent crypto exchange, responded to the legal action initiated by the US Securities and Exchange Commission (SEC), seeking the dismissal of the lawsuit concerning the Gemini Earn project. The SEC’s lawsuit asserts that Gemini’s establishment of the Gemini Earn initiative, allowing users to lend digital assets to Genesis through specific loan agreements, violates securities regulations by engaging in the unauthorized sale of unregistered securities. The SEC’s case hinges on two main points: establishing the existence of securities and proving their sale. Gemini, however, contests the SEC’s ability to substantiate these requirements. They argue that the loan agreements themselves should not be classified as securities. Additionally, Gemini deems the notion that the entire Gemini Earn project constitutes security unreasonable. The legal clash traces back to January when the SEC charged crypto lender Genesis Global Capital and crypto exchange Gemini Trust for distributing unregistered securities to retail investors. Under this scheme, Genesis lent cryptocurrencies from Gemini users and shared a portion of the profits with Gemini, which facilitated the transactions and levied an agent fee, sometimes as high as 4.29%. The remaining profits were then returned to users.
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💰 JPMorgan Observes Bitcoin Miners Embrace AI Amidst Halving Anticipation
Ahead of the halving event, a report by JPMorgan reveals that cryptocurrency miners are strategically diversifying their operations toward the burgeoning artificial intelligence (AI) sector. JPMorgan analysts, led by Nikolaos Panigirtzoglou, highlight this trend in a recent report, showcasing the evolving landscape of crypto mining. As the halving event approaches, cryptocurrency miners are strategically positioning themselves to capitalize on the rapid expansion of the AI sector. The convergence of cryptocurrency mining and AI entails the utilization of cutting-edge computer chips, essential for both endeavors. To this end, Applied Digital has emerged as a prominent player, launching an AI cloud service and inking a substantial $460 million agreement for hosting AI cloud computing within its data centers. This move demonstrates the inherent profitability miners envision in aligning with the AI domain. Notably, Iris Energy has revamped its managed HPC services strategy, coinciding with the heightened interest in AI. This shift showcases the increasing awareness among miners of the potential profitability tied to AI ventures.
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🟠 OpenSea Stops BNB Smart Chain Support, Focuses Resources On Layer 2’s Future
In a recent announcement, OpenSea tweeted that starting today, users will no longer be able to list BSC NFTs or provide new citations, but they will still be able to view, search, and transfer BSC NFTs. The team said that as the market continues to grow, resources should be focused on the most promising projects. They believe that the cost of continuing to support the BNB Smart Chain (BSC) is greater than the reward, so they have decided to end support for BSC. The future of growth of the NFT market is now defined by the platform as a multi-chain future, and the new layers 2 that Opensea integrates are Base and Zora. “But as our space evolves, we need to align resources with the most promising efforts. We’ve decided the cost to continue supporting BSC outweighs the impact.” Last November, the market-leading NFT Platform announced the integration of the BNB chain to enhance the NFT experience for creators and users. However, NFT currently needs to be more attractive in the crypto market. According to NFT data aggregator CryptoSlam, sales volume fell about 40% in July. Daily sales were around $22 million at the beginning of the month, but by the end, they had dropped to about $13 million.
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🟠 Binance CEO CZ Prohibits Futures Trading Amongst Himself And His Employees
Binance CEO CZ bans employees from futures trading and strict internal monitoring and violators face termination. Today, Binance recorded the Largest liquidation order at $55.9M. Binance CEO Changpeng Zhao (CZ) recently tweeted that Binance employees, including himself, are not allowed to trade futures. In addition, Binance requires all employees to hold positions for at least 90 days before trading. The internal security team monitors employee trading activities on multiple platforms, and any violation of these rules will result in immediate termination. CoinCu reported that during a sharp market drop today, an investor in Binance’s ETH/BUSD contract was liquidated at $1,434.37 for $55.9211 million, the largest liquidation order of the day. According to Wu Blockchain, this could be a market maker who hedges on other exchanges. Binance recorded the total of liquidations today with almost $220 million, of which long positions liquidated $188 million. These numbers show Binance’s futures trading scale and the potential risks involved. Recently, Binance announced the issuance and conversion of its users’ delisted New Bitshares (NBS) tokens. The transition is set to take place promptly at 08:00 on September 9th, with a snapshot taken to determine the NBS token balances based on users’ Binance Wallet location records.
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🇺🇸 Grayscale vs. SEC Lawsuit Still No Verdict, BTC Holds $26,000
The U.S. Court of Appeals has yet to reach a verdict on the Grayscale vs. U.S. Securities and Exchange Commission (SEC) case regarding GBTC’s transition into a Bitcoin ETF, as stated by Bloomberg ETF analyst James Seyffart. All eyes are now on the impending Grayscale vs. SEC decision this Friday, poised to provide a critical market trajectory. The prospects of a Bitcoin ETF’s approval this year hinge on the company’s triumph in this legal battle. Surprisingly, GBTC remains resilient even amid Bitcoin’s price fluctuations. The outcome of this lawsuit, regardless of its eventual resolution, holds the potential to shape the future of digital asset transactions. In this protracted legal conflict, Grayscale, a global frontrunner in digital currency asset management, challenges the SEC’s decision to curb its Bitcoin investment’s conversion into a spot ETF. Contrarily, the SEC remains resolute in its rationale, asserting investor safeguarding against crypto’s volatility and potential market manipulation as the basis for its stance. Recent market turbulence saw the crypto realm facing over $1 billion in liquidations within 24 hours. Despite initial speculations attributing this to SpaceX’s Bitcoin sales and Evergrande’s bankruptcy filing, traders and whales now attribute it to weak market structure and liquidations.
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📊 CME Group And CF Benchmarks Launch New BTC And ETH Reference Rates For Asia-Pacific
CME Group and CF Benchmarks today announced plans to launch two new reference rates exclusively for Asia-Pacific for bitcoin and ether on September 11. Reference Rates, namely CME CF Bitcoin Reference Rate APAC (BRRAP) and CME CF Ether-Dollar Reference Rate APAC (ETHUSD_AP). These two rates will provide a once-daily reference rate for the USD prices of the two digital assets, announced at 4pm Hong Kong/Singapore time. These new reference rates are designed to meet the evolving needs of global participants in the growing digital asset space. According to CME Group, 37% of total crypto volume at CME Group was traded outside of US hours, with 11% of trades coming from the APAC region. CME Group enables clients to trade futures, options, cash and OTC markets, optimize portfolios and analyze data – empowering market participants worldwide to manage Manage risks and seize opportunities effectively. In addition, CF Benchmarks is a leading provider of cryptocurrency benchmarks, authorized and regulated by the UK FCA under EU BMR. Consisting of market data from six constituent exchanges, its benchmark indices are made available through transparent governance and public methods, to monitor, price and address risk in products. electronic financial products and services.
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🪙 TRON DAO’s $2 Million Investment Seals Dynamic Partnership With Curve
TRON DAO Ventures, the investment arm of TRON DAO, has made a significant acquisition of $2 million worth of CRV tokens in a move that solidifies its strategic partnership with Curve. Despite a recent hack that sent shockwaves through the DeFi space, Curve has gained a formidable ally in TRON founder Justin Sun. He expressed unwavering support for Curve, emphasizing its vital role in the DeFi landscape and rallying the community to fortify the ecosystem’s security measures. In a groundbreaking move on August 1, TRON and Curve joined forces to introduce a pioneering stUSDT pool on the platform. This trailblazing pool features stUSDT, the world’s maiden rebase real-world asset (RWA) protocol on the TRON blockchain. The collaboration between TRON DAO Ventures and Curve not only demonstrates TRON’s commitment through partnership but also financial investment. This news follows the integration of Curve with both the TRON and BTTC networks, marking a significant stride towards a revitalized DeFi ecosystem. With TRON and BTTC’s unwavering support, Curve is primed for a resurgence, promising users a more dynamic and robust DeFi experience in the ever-evolving crypto realm.
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🟠 Binance Now Delisting Many BUSD Trading Pairs From Aug 18
In an official statement, Binance, the leading cryptocurrency exchange, revealed its decision to delist certain spot trading pairs as of August 18, 2023, at 03:00 (UTC). The trading pairs to be removed include CKB/BUSD, FARM/BUSD, ORN/BUSD, REN/BUSD, SKL/BUSD, UFT/BUSD, ZEN/BUSD, and ZRX/BUSD. It’s important to note that users can continue trading these tokens in alternate pairs accessible on the Binance platform. Additionally, Binance has scheduled the discontinuation of its trading bot service for the specified spot trading pairs at 3:00 UTC on August 18, 2023. Users are strongly advised to modify or cancel their trading bots prior to the designated termination time to avert potential losses. The mentioned token pairs are reportedly facing liquidity challenges, contributing to the decision to remove them from Binance’s trading offerings. Launched via an ICO in early 2018 and built on Ethereum’s ERC-20 standard, REN serves a significant role in the Ren ecosystem. The Ren Protocol faced setbacks due to the downfall of FTX, resulting in substantial losses.
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🏦 Coinbase Received Regulatory Approval To Offer Crypto Futures Trading In The U.S.
Coinbase will offer regulated derivatives products, allowing eligible US customers access to the crypto derivatives market in a safe and regulated manner. Customers can trade using margin, giving leverage and access to the market with less upfront investment. Coinbase has announced that its customers will soon be able to access regulated derivatives products through Coinbase Financial Markets. This will allow eligible US customers to access the crypto derivatives market in a safe and regulated manner. The ability to trade using margin gives customers leverage and access to the crypto market with less upfront investment than traditional spot trading, making it an attractive option for retail investors. Coinbase acquired FairX 2022, a CFTC-regulated futures exchange, and renamed it the Coinbase Derivatives Exchange. Since then, the exchange has successfully launched nano Bitcoin and Ethereum futures contracts for retail investors and larger versions for the institutional market. This is an important milestone, as the global crypto derivatives market represents approximately 75% of crypto trading volume worldwide. The company will continue to work with regulators to receive the authorizations needed to offer products that align with its purpose and to offer additional information on how verified US customers can access the futures offering.
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🪙 SHIB Doggy DAO Foundation Gains ATH’s Expertise For Shibarium: Report
Alpha Transform Holdings has announced that it will advise the SHIB Doggy DAO Foundation, which governs the projects built on the Shibarium blockchain. The foundation will benefit from the expertise provided by ATH partners and industry leaders such as Enzo Villani, Michael Terpin, and Seth Shapiro, who have previously advised blockchain projects, including Ethereum and Tether. The SHIB Doggy DAO Foundation is responsible for executing governance decisions made by the DAO and holding its assets and treasury. According to ATH CEO Enzo Villani, Shibarium has already seen great momentum, with over 21 million wallets and over 250,000 smart contracts written to their Layer 2 blockchain testnet. Villani believes that many entertainment, media, and finance brands will be interested in engaging with this vibrant community. Shiba Inu Lead Developer, known as Shytoshi Kusama, said he couldn’t ask for a better partner to help shepherd this next phase of the Shiba global phenomenon. ATH will help the foundation chart the best course possible for the future of the Shiba Inu Ecosystem. ATH takes a hands-on approach to investments by providing advice and support across portfolio companies on token economics, strategic development, mergers and acquisitions, IPOs, and regulatory affairs.
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🪙 Stellar Invests in MoneyGram, Secures Board Seat for Blockchain Evolution
The Stellar Development Foundation (SDF) has announced a significant strategic investment in MoneyGram. Two years ago, MoneyGram and SDF entered into a commercial partnership, aiming to streamline cryptocurrency payments and introduce a cash-to-crypto service. This prior collaboration laid the groundwork for the current investment, showcasing the alignment of their visions in the ever-evolving financial landscape. SDF’s involvement in MoneyGram’s trajectory intensified during MoneyGram’s go-private transaction with Madison Dearborn Partners (MDP). As a result of this transaction, SDF became a minority investor in MoneyGram (MGI). The investment was drawn from SDF’s own cash treasury, earmarked to support its operational endeavors. Notably, this investment diverged from the Enterprise Fund, which primarily focuses on startups and early-stage companies. Denelle Dixon, SDF CEO and Executive Director, emphasized that this move represented a novel use of SDF’s treasury resources. By delving into blockchain technology, MoneyGram aims to fortify its digital presence and explore novel avenues for growth.
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🔵 Aave’s Native Stablecoin GHO Surpasses 20 Million Circulation Milestone
Exciting news emerges from the Aave ecosystem as the circulation of the decentralized stablecoin GHO, the platform native creation, crosses an impressive threshold of 20 million. The journey to this remarkable achievement started with the lastest announcement of the successful launch of GHO on the Ethereum mainnet. This milestone was further solidified on July 14 when the Aave community participated in a formal governance proposal vote, affirming the launch of GHO on the main network. The outcome of this community-driven vote was a resounding success, ushering in a new era for this platform. With the green light given by the community, Aave V3 users on Ethereum gained the ability to leverage their collateral to mint GHO, unlocking a world of possibilities within the Aave ecosystem. This significant milestone signifies not only the technical prowess of the platform but also the enthusiasm of the community in embracing new and innovative financial instruments. GHO’s rapid circulation growth underscores its utility and the value it brings to users seeking stability and liquidity within the decentralized finance landscape. Aave’s achievements stand as a testament to its commitment to driving the industry forward.
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📣 PayPal Unveils Revolutionary Cryptocurrencies Hub
PayPal, the payment giant, recently unveiled its USD-backed stablecoin, PayPal USD (PYUSD), and simultaneously introduced a “Cryptocurrencies Hub” for Bitcoin interaction. To access the cryptocurrency center, users need a personal account in good standing and verified identity details like name, address, date of birth, and taxpayer ID. The center will link directly to users’ accounts and can be accessed using existing credentials. PYUSD is supported by US dollar deposits and short-term Treasuries, ensuring its full backing. This stablecoin pegged to the dollar, will soon be available to US-based customers, offering a gateway for digital payments and token adoption. The service will facilitate cryptocurrency buying and selling, enable purchase payments through the platform using proceeds from crypto sales, and act as a conversion hub between PYUSD and other crypto assets. PYUSD is designed for instant redemption into dollars and can also be exchanged for various cryptocurrencies within its network. It’s set to become usable for purchases and will soon integrate with PayPal’s Venmo app.
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🇯🇵 Binance Japan to Use KYC Services From Liquid
Binance, the largest crypto exchange in terms of trading volume and users, will employ Japanese company Liquid for identity verification of customers on its new domestic platform in Japan. As a first step in this partnership, Liquid said it will provide Binance with its eKYC service. “Liquid eKYC offers top-in-class facial authentication through its unique AI-based image processing capability, enabling smooth identity verification in accordance with the respective legal and security framework in each country,”. Binance’s General Manager for Japan, Takeshi Chino, pointed out that the exchange’s “robust KYC framework plays a critical role in protecting the platform, users and community, and the entire ecosystem from potential threats.”Binance has been dealing with heightened regulatory pressure around the world in the past months. Following warnings from Japanese regulators that it was operating without the necessary authorization, the crypto behemoth acquired the Japan-registered Sakura Exchange Bitcoin (SEBC) in November 2022. In May 2023, the company announced that Binance Japan will fully comply with local regulations and said that Japanese users of its global exchange will be able to migrate to the new domestic platform after passing identity verification.
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