CAKEUSD PancakeSwap Token

Bitcoin and Ether futures contracts on CME draw record participation from major traders

In the second quarter, regulated bitcoin ( COIN:BTCUSD ) and ether ( COIN:ETHUSD ) futures on the Chicago Mercantile Exchange (CME) saw record participation from large traders. The average of large open interest holders for Bitcoin futures was 107, while for Ether it was 62. Institutional interest in bitcoin futures increased as investors sought regulated products to hedge against increasing market volatility and manage risks and exposures.

BlackRock and Jio Financial Services create Jio BlackRock to democratize access to investment solutions in India

BlackRock (NYSE:BLK), the world’s largest asset manager, announced a joint venture with Jio Financial Services Limited (JFS) to create Jio BlackRock, aiming to democratize access to investment solutions in India through a digital approach. Both companies intend to invest US$ 150 million in the partnership. Rachel Lord, President of APAC at BlackRock, highlighted the relevance of India and its digital transformation as a key opportunity. JFS will bring its local knowledge and digital skills to the partnership, with the aim of revolutionizing the asset management industry in India. Unverified rumors suggest that BlackRock has recommended a significant Bitcoin allocation in 2022. This move puts BlackRock at the forefront of the evolving global investment landscape.

Amazon Managed Blockchain announces general availability of access and query functions

Amazon Managed Blockchain (AMB) announced the general availability of access and query functions, allowing developers to easily interact with blockchains without the need for specialized infrastructure. AMB Access provides scalable, serverless access to blockchains through standard remote procedure calls. AMB Query provides access to blockchain data through APIs for Bitcoin and Ethereum. Amazon claims the service will facilitate the development of Web3 applications, including use cases such as cryptocurrency custody and NFT engagement campaigns.

Presidential candidate Robert F. Kennedy Jr. buys Bitcoins for his kids after endorsing cryptocurrency

Democratic presidential candidate Robert F. Kennedy Jr. revealed that he bought two Bitcoins (COIN:BTCUSD) for each of his seven children after facing criticism for promoting a “volatile commodity” with no personal input. He bought the tokens after receiving a large check totaling 14 Bitcoins, now worth nearly $414,000. Kennedy endorsed Bitcoin during the Miami Bitcoin Conference and mentioned cryptocurrency as an “exercise in democracy”.

Nexo Partners with the ACSS to improve regulatory compliance in the Web3 ecosystem

Cryptocurrency lending platform Nexo has partnered with the Association of Certified Sanctions Specialists (ACSS) to improve regulatory compliance in the Web3 ecosystem. ACSS provides training and certification for sanctions specialists from a variety of industries. Nexo will require its compliance staff to be ACSS certified to raise its compliance standards. The company also obtained a Certified Public Accountants certificate following a Type 2 Organization and Service Controls Compliance audit. Nexo ended its Earn Interest product in the US after paying fines of $45 million to the SEC and other regulatory agencies.

Securitize issues tokenized bonds in Europe representing equity in Spain’s Mancipi Partners real estate fund

Securitize, a blockchain company that specializes in tokenizing real-world assets, has started issuing tokenized bonds in Europe representing equity in Spain’s Mancipi Partners real estate fund. The shares will be tokenized on the Avalanche blockchain, and secondary trading is expected to begin in September. The company has received approval from Spain’s Treasury and International Finance General Secretariat to deploy digital asset securities under supervised “sandbox” conditions. After the sandbox period, Securitize plans to expand its tokenization operations in Spain and the European Union.

Hidden Road partners with Enclave Markets

Hidden Road has partnered with Enclave Markets to provide an encrypted and confidential trading environment. The Enclave has developed an exchange matching engine and account management system within a secure Intel Software Guard Extensions (SGX) enclave. The Enclave’s Fully Encrypted Exchange (FEX) allows for anonymous trading without the need to provide a price and provides institutions with additional security as assets are traded and settled directly in custody.

Sui Foundation ends partnership with MovEx

The Sui Foundation ended its partnership with the decentralized exchange MovEx due to a contractual breach that led to the circulation of additional SUI tokens (COIN:SUIUSD) on the open market. SUI tokens are used on the Sui Network, a blockchain founded by former employees of Meta Platforms (NASDAQ:META). MovEx received 2.5 million SUI but violated the contractual block by initiating transactions before the deadline. The Sui Foundation requested the transfer of the tokens to a custodial wallet that will follow the contractual blocking schedule. MovEx stated that it will continue its operations following the Sui Foundation action.

US Justice Department seeks arrest of FTX founder for attempted witness tampering

The US Department of Justice (DOJ) seeks to have Sam Bankman-Fried, founder of FTX, detained before his criminal trial, alleging attempts to tamper with witnesses. The DOJ accused Bankman-Fried of sharing documents with the New York Times to damage the reputation of former Alameda Research CEO Caroline Ellison, with whom he had a relationship. Assistant U.S. Attorney Danielle Sassoon said the detention was necessary to ensure the safety of the community, as it was indisputable that the documents were shared to discredit Ellison.

U.S. House Agriculture Committee advances Financial Innovation Act for the 21st Century with a focus on cryptocurrencies

The US House Agriculture Committee moves forward with the Financial Innovation Act for the 21st Century, following the Financial Services Committee. Amendments were debated, including provisions on customer disclosures and asset management safeguards. Committee chairman Glenn Thompson highlighted the need for federal regulation of cryptocurrencies. The vote came after a more efficient tagging session compared to the Financial Services Committee, which faced heated arguments.

Hong Kong and Saudi Arabia are expanding financial collaboration with a focus on tokenization

Hong Kong and the Kingdom of Saudi Arabia are expanding their financial collaboration, with a focus on tokenization and payments infrastructure. The Saudi Central Bank (SAMA) and the Hong Kong Monetary Authority (HKMA) held a bilateral meeting, signing a memorandum of understanding (MoU) to promote joint discussions on financial innovation. Both will share expertise in areas such as tokenization, payment infrastructure and supervisory technologies. The HKMA recently allowed retail investors to trade cryptocurrencies, although the announcement did not specifically mention cryptocurrency-related plans.

Ukraine receives $225 million in cryptocurrency donations after Russian invasion

Since the start of the Russian invasion last year, Ukraine has received $225 million in cryptocurrency donations, contributing to the purchase of weapons, ammunition, medical equipment and crucial war supplies. Although it represents a small part of the total donations (billions in fiat), cryptocurrency users continued to support the country. Most donations were in USDT (COIN:USDTUSD), followed by Ether (COIN:ETHUSD) and Bitcoin (COIN:BTCUSD). On the other hand, Russian military units have also used cryptocurrencies to obtain material support, but their collections have been more discreet and for smaller amounts, estimated at a few million dollars.

Israeli government forms special review team to regulate DAOs

The Israeli government has formed a special review team to regulate decentralized governance organizations, known as DAOs, and will hold public consultations through September. The team, led by officials from the Ministry of Finance and the Ministry of Justice, will explore uses and activities of DAOs, including decision-making processes. The focus will be on cryptographic tokens used by DAOs and the associated risks, seeking to provide regulatory clarity. The aim is to create legal certainty, reduce risk and boost Israel’s economic potential. The public can submit comments until September 3.

Blockchain Optimism Layer-2 outperforms Arbitrum in daily transactions

According to Dune Analytics, the Optimism Layer-2 blockchain outperformed Arbitrum in daily transactions for the first time in six months. On July 25, Optimism recorded 844,290 transactions, while Arbitrum reached 630,534. This increase can be attributed to the launch of Worldcoin (WLD), the crypto AI company founded by Sam Altman, based on the Optimism blockchain. Despite attracting attention, Worldcoin has over 250,000 holders following the airdrop that rewarded users for eye scans at select locations. The native token (COIN:OPUSD) of Optimism has risen in the last 24 hours, staving off pressures of imminent token unlocking. While it facilitates more on-chain transactions, Optimism’s daily active wallet metric lags behind Arbitrum. Activity on Optimism could also be boosted by decentralized exchange (DEX) Velodrome with a 39% increase in TVL to $258 million last month, according to DefiLlama.

Cosmos blockchain ecosystem faces challenges after Terra collapse, Ethereum Boom

The Cosmos blockchain ecosystem, known for its interconnected blockchains and proof-of-stake consensus, is facing challenges after the collapse of Terra and the rise of Ethereum. The Terra disaster affected the liquidity of Osmosis and other Cosmos DeFi projects. Meanwhile, Ethereum has grown with smart contracts and layer 2 scalability. Cosmos struggles to compete and faces existential challenges including token classification as security and infighting. Still, its contributions to interoperability and proof of stake are enduring, but Cosmos needs to find its identity and embrace innovation to stand out in the evolving multichain landscape.

PancakeSwap expands platform for zkSync Era blockchain

PancakeSwap has expanded its platform to the zkSync Era blockchain as part of its plans to grow its user base and revenue. DEX will offer token exchange and liquidity provisioning capabilities with transaction fees of 0.01%. Farms features will roll out in the coming weeks, allowing users to stake their liquidity pool tokens to earn CAKE (COIN:CAKEUSD). Moving to zkSync Era will allow PancakeSwap to work more efficiently with smart contracts and attract more users.

NFTs by artist Vera Molnár sell out at Sotheby’s auction

During Sotheby’s Dutch auction, Hungarian artist Vera Molnár’s Non-Fungible Tokens (NFTs), created in collaboration with Martin Grasser, were sold out, raising 631 Ether. The “Themes and Variation” collection includes 500 collectibles algorithmically generated with 170 color palettes and recursive grids. Molnár, a pioneer in computer-generated art since 1959, considered this collaboration with Sotheby’s and Art Blocks the culmination of her artistic explorations through systems and computers. The NFTs achieved great success, surpassing 589 Ether in volume traded on secondary markets, with a more than 100% increase in the minimum price of “Themes and Variation” after the auction.

Palm Foundation plans to expand NFT infrastructure through Palm Network

The Palm Foundation plans to expand its non-fungible token (NFT) infrastructure through the Palm Network, in partnership with Polygon Labs and Consensys, building a ZK Supernet. The initiative aims to facilitate scalability and integration for users and developers, serving projects that want to boost their Web3 ventures. The network supports NFT collections from various sports franchises and entertainment companies. The Palm Network will also enable the creation of decentralized autonomous organizations (DAOs) within its ecosystem. Integration to a Proof-of-Stake (POS) blockchain will begin in August, with full migration to ZK Supernet expected in 2024.

Animoca Brands invests US$30 million in hi to expand utility of NFTs in financial sector

hi, a Web3 neobank, received a US$30 million investment from Animoca Brands, known for games and metaverses. The partnership seeks to expand the usefulness of NFTs in the financial sector. hi gained prominence by launching personalized debit cards with CryptoPunks and Bored Apes, and plans to integrate Animoca Brands. The investment is aimed at improving hi’s existing products and developing new ones, including support for corporate accounts and human authentication via the hi protocol. The collaboration aims to positively impact the wider Web3 ecosystem.

Metaverse Byte City will honor Bruce Lee with event on avatars created in Ethereum and Polygon

The Metaverse Byte City project plans to honor Bruce Lee, the legendary martial artist and actor, by allowing users to participate in an event with avatars created in Ethereum (COIN:ETHUSD) and Polygon (COIN:MATICUSD). Minted avatars can be used in the Byte City metaverse game 24 hours after minting. The event was developed in collaboration with Bruce Lee’s daughter Shannon Lee and Samsung Gaming. Previously, Bruce Lee also had an NFT collection released by the Bruce Lee Foundation.