SpaceX reportedly wrote down the value of Bitcoin it owns by a total of $373 million last year and the year before and may have sold all of its holdings.
According to Tesla's second-quarter 2023 earnings report, the firm had sold all but $184 million worth of its Bitcoin holdings. Tesla reported it had liquidated more than 30,000 BTC in the second quarter of 2022 for $936 million — roughly 75% of its original $1.5 billion BTC holdings.
https://cointelegraph.com/news/spacex-sold-bitcoin-acquired-2021-2022-report
The SEC is poised to allow the first exchange-traded funds based on Ether futures by Oct.
https://www.bloomberg.com/news/articles/2023-08-17/sec-said-to-be-poised-to-allow-us-debut-of-ether-futures-etfs-eth
During the night, there was a significant decline, with BTC reaching a low of $25,160 and ETH dropping to $1,550 at one point.
https://www.binance.com/en/trade/BTC_USDT
Coinbase is suspending trading of USDT, RAI and DAI in Canada on August 31.
https://www.theblock.co/post/246069/coinbase-suspending-usdt-trading-in-canada-at-end-of-month
Connext has announced the NEXT token airdrop.
The airdrop is scheduled for September 5 via the Tokensoft platform.
Users must qualify for at least one of the following two criteria in order to qualify for the NEXT airdrop:
1. Transferred 5 or more times with an average value of at least $15 per transaction (calculated across all transactions) and a total volume exceeding $200.
2. Provided at least $1,500 in liquidity to the Connext network for a minimum of 1 day.
https://docs.connext.network/v/dao-documentation/next/airdrop-details
Trezor has partnered with Wasabi Wallet to introduce Model One with with implemented privacy enhancement function Coinjoin.
https://x.com/trezor/status/1691827444381037011
Ledger has announced an on-ramp integration with PayPal, allowing users to buy crypto via the Ledger Live companion app.
https://www.ledger.com/ledger-and-paypal-team-up-to-simplify-entry-into-the-world-of-cryptocurrency
The Sei airdrop claiming is available to members of the Sei community who participated in the Atlantic 1 and Atlantic 2 testing and the Sei Ambassador program.
https://x.com/olimpiocrypto/status/1691923205416530033
Shiba Inu launched the Shibarium mainnet, an Ethereum layer-2 scaling solution.
Shibarium is built on a new consensus mechanism called proof-of-participation (PoP), which works by selecting validators in proportion to their quantity of holdings in the associated cryptocurrency. This is done to avoid the computational cost of proof-of-work schemes.
Users must lock 10,000 BONE in the Shibarium network to become validators.
https://cointelegraph.com/news/shiba-inu-shibarium-ethereum-l2-blockchain-goes-live-mainnet
FBI seized more than $1.7 million in cryptocurrency in the past three months.
https://www.forfeiture.gov/pdf/FBI/OfficialNotification.pdf
Bounce Finance has introduced Bounce Mutant English Auction.
https://bouncefinance.medium.com/introducing-bounce-mutant-english-auction-combining-auction-dynamics-with-yield-generation-to-c9cc687a2268
Coinbase Financial Markets, Inc. has secured regulatory approval from the National Futures Association (NFA), a CFTC-designated self-regulatory organization, to operate a Futures Commission Merchant (FCM) and offer eligible US customers access to crypto futures from the platforms.
https://www.coinbase.com/blog/coinbase-financial-markets-inc-secures-fcm-approval-to-bring-regulated
SwirlLend on Base has been rugged. The TVL of SwirlLend has dropped from $784.3K to $49.2K.
SwirlLend has already deleted its social platform.
The deployer has already bridged ~$289.5K worth of cryptos from Base to Ethereum, including 140.68 ETH and 32.6K USDC. They still hold ~92 ETH on Base.
https://twitter.com/PeckShieldAlert/status/1691719373571186925
Bitcoin-ETF "BCOIN" is registered in the island nation of Guernsey, which is not part of the European Union. Thus, the ETF is not technically a European ETF.
https://x.com/paddi_hansen/status/1691429784020987904
FTX and Genesis have reached $175 million settlement.
Genesis has agreed to pay FTX’s trading arm Alameda Research, $175 million. Genesis also agreed to waive all claims against the FTX estate.
A judge will hold a hearing Sept. 13 to approve the settlement.
https://fortune.com/crypto/2023/08/17/ftx-genesis-bankruptcy-settlement-john-ray-dcg/
The US Securities and Exchange Commission can seek the South Korean government’s assistance to question Do Kwon’s Terraform Labs co-founder, Daniel Shin, and collect evidence from payments company Chai Corp., a US judge ruled.
https://www.bloomberg.com/news/articles/2023-08-17/sec-seeks-to-question-do-kwon-s-terra-co-founder-in-south-korea
💧Top 15 DeFi projects that have the most active developers
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A New York district court judge granted the Securities and Exchange Commission’s request to file a motion for leave to file an interlocutory appeal in an ongoing dispute with Ripple Labs.
https://www.theblock.co/post/246057/judge-in-ripple-case-grants-sec-request-to-file-interlocutory-appeal
Huobi founder Li Lin buys MONT VERRA, one of Hong Kong's most expensive mansions in a HK$1 billion (US$128 million) lease-to-own property.
Last year, Li Lin sold Huobi to Justin Sun for more than 1 billion US dollars.
https://x.com/wublockchain/status/1691020543540297729
Tether will cease minting USD₮-Omni, USD₮-Kusama, and USD₮–BCHSLP from today, 17th August 2023.
Tether will continue to redeem USD₮-Omni, USD₮-Kusama, and USD₮-BCH-SLP as normal for at least the next 12 months. Tether may evaluate and announce further changes around that time.
Users can also swap USD₮-Omni, USD₮-Kusama, and USD₮-BCH-SLP for other chains on platforms that support these assets, such as Bitfinex.
https://tether.to/en/tether-makes-strategic-transition-to-meet-community-demands-and-foster-innovation/
Blockchain company Polygon Labs and leading Korean mobile carrier SK Telecom have partnered to develop a web3 ecosystem.
https://www.theblock.co/post/245806/polygon-labs-and-korean-mobile-giant-sk-telecom-forge-web3-partnership
Crypto Market Daily Review ☀️
The market is down. Market cap is $1.14T. Bitcoin is trading at $28.6K
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Ripple Labs said it opposes the SEC’s move last week seeking leave for an interlocutory appeal of the summary judgment order in a case that rocked the industry.
https://www.theblock.co/post/245797/ripple-labs-says-it-opposes-sec-move-to-file-an-appeal
Valkyrie has filed an application for the Ether Futures ETF.
There are currently 16 active filings for the Ether Futures ETF.
https://x.com/jseyff/status/1691842682346201510
Injective has released its tokenomics upgrade.
INJ 2.0 aims to allow all dApps to participate in burns.
https://blog.injective.com/inj-burn-2-0/
Unibot launches a trading terminal Unibot X.
How to Access Unibot X
1. Connect to your TG bot
2. Open Unibot X from the main menu
To align the current referral link and revenue share systems, Unibot X requires your TG account which is tied to your wallets.
https://x.com/teamunibot/status/1691799553111146789
Crypto Market Daily Review ☀️
The market is down. Market cap is $1.16T. Bitcoin is trading at $29.1K
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RocketSwap, a decentralized exchange built on the Base Layer 2 network, was hacked — losing 471 ETH (valued at $870,000).
The hacker transferred the stolen assets to Ethereum and created a memecoin named LoveRCKT.
https://www.theblock.co/post/245599/hacker-creates-memecoin-after-stealing-870000-from-rocketswap-on-base