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Crypto.com and PayPal partner to facilitate crypto purchases

Crypto.com and PayPal (NASDAQ:PYPL) have joined forces to allow U.S. users to fund cryptocurrency purchases through PayPal. With the new integration, it is possible to link wallets and easily transfer digital assets. PayPal can also be used to reload Crypto.com Visa cards. The collaboration comes as PayPal sees significant growth in its stablecoin PYUSD (COIN:PYUSDUSD) and rising stock prices. The global expansion of this feature is planned for the future.

OpenSea receives SEC Wells Notice, prepares $5 million defense fund

OpenSea CEO Devin Finzer announced that the company received a Wells Notice from the SEC, which considers the platform’s NFTs as securities. Surprised by the action, Finzer warns that regulation could stifle innovation and harm creators and artists. OpenSea has allocated $5 million to help cover the legal expenses of affected creators, arguing that NFTs are creative products, not financial instruments.

Bitcoin and Ether face drop after volatility and uncertain economic outlook

Bitcoin (COIN:BTCUSD) plunged to an intraday low of $57,851.62, reversing recent gains following comments from the Federal Reserve Chairman and political support for cryptocurrencies. Bitcoin, currently at $59,968, is down 0.9% in the last 24 hours. Ether (COIN:ETHUSD) reversed with a 2.2% rise to $2,513.39. Recently, the market adjusted its expectations for Fed monetary policy, reducing the likelihood of a significant rate cut, which may have contributed to the volatility. Additionally, economic pressure was amplified by declines in major tech stocks, such as Nvidia (NASDAQ:NVDA), ahead of earnings reports.

Bitcoin ETFs record largest daily outflow in a month, signaling profit-taking

On Tuesday, U.S. spot Bitcoin ETFs saw net outflows of $127 million, the largest in a single day since August 6, ending an eight-day streak of inflows totaling $756 million. Ark Invest (AMEX:ARKB) led the outflows with $102 million, followed by Grayscale (AMEX:GBTC) and Bitwise (AMEX:BITB). Profit-taking after Bitcoin surpassed $60,000 was the main factor, with the price subsequently retreating about 10%.

BlackRock launches Ethereum ETF in Brazil with reduced fees to meet growing demand

BlackRock (NYSE:BLK) expanded its crypto offerings in Brazil by listing the iShares Ethereum Trust (NASDAQ:ETHA) on the B3 exchange on August 28. The ETF will trade under the ticker ETHA39 and be priced at one-third of its original value. Management fees will be reduced to 0.12% for the first year, addressing the growing demand for crypto assets in the country. This move follows the success of the iShares Bitcoin Trust, reflecting strong interest from Brazilian investors in digital products.

Publicly listed companies significantly increase their Bitcoin holdings, reflecting institutional confidence in the asset

In a year, the value of Bitcoins held by publicly listed companies grew nearly 200%, rising from $7.2 billion to $20 billion. According to Nickel Digital Asset Management, 42 companies hold 335,249 BTC. Corporate interest in Bitcoin began with MicroStrategy (NASDAQ:MSTR), which currently holds 226,500 BTC. A survey of institutional investors revealed that 75% believe more companies will follow this path, with expectations of continued growth in the adoption of Bitcoin as a reserve asset.

Stacks launches Nakamoto Activation to improve integration with Bitcoin

The Stacks Foundation has initiated the Nakamoto Activation Sequence, marking a significant advancement for the Stacks Layer 2 network. This update brings improvements such as faster transactions, greater security, and less miner extractable value. The activation aims to enhance Bitcoin scalability, enabling new use cases and unlocking significant capital. The implementation will be done in cycles, starting with the code delivery and followed by the update and hard fork. The native token of Stacks (COIN:STXUSD) is down more than 9% in the last 24 hours.

Robinhood Wallet adds support for Solana, analysts predict significant rise for SOL

The Robinhood Wallet now supports Solana, allowing users to send, receive, and store SOL tokens. Johann Kerbrat, General Manager of Robinhood Crypto, highlighted the importance of the integration, which joins other cryptocurrencies such as Bitcoin and Ethereum. Analysts predict a significant rise for SOL, with the possibility of reaching $220 after a consolidation phase, based on an optimistic technical pattern. The price of SOL (COIN:SOLUSD), known for its impressive recoveries, is down 3.3% in the last 24 hours, at $142.21.

DecideAI launches OpenAI’s GPT-2 on the Internet Computer blockchain, marking AI innovation

DecideAI announced on August 28 that it integrated OpenAI’s GPT-2 model into the Internet Computer blockchain (COIN:ICPUSD), marking the first on-chain launch of the model. CEO Raheel Govindji highlighted that the experience aims to test new forms of AI training and deployment. The company believes this could lead to more advanced AI models and assist in areas such as healthcare, finance, and education, addressing privacy and trust concerns.

BNB Chain launches official bridge to boost DeFi interoperability and liquidity

BNB Chain (COIN:BNBUSD) has launched a new official bridge in collaboration with Celer, deBridge, and Stargate, aiming to improve interoperability and liquidity across chains in the BNB ecosystem. The bridge, which supports multiple blockchains and Layer 2 networks, seeks to attract more DeFi projects by offering an efficient transfer experience with competitive fees. Additionally, BNB Chain is creating a liquidity pool to facilitate transfers, strengthening its stablecoin ecosystem.

Cardano Chang Update: The biggest change in two years

Cardano (COIN:ADAUSD) is set to implement its biggest update in two years, called the “Chang hard fork,” which will introduce on-chain governance mechanisms. Initially scheduled for this week, the update was postponed to September 1 to allow exchanges like Binance to adjust. The change will enable ADA holders to choose representatives and vote on proposals, advancing the network toward its vision of community governance, as outlined in CIP-1694.

Injective launches Remix Web IDE and improves network speed to attract liquidity

Injective has launched the Remix Web IDE, a web-based development environment that facilitates the creation and management of smart contracts directly in the browser. The new tool eliminates the need to install software, making development more accessible. Additionally, Injective achieved average block times of 0.65 seconds, increasing network speed and attracting liquidity for high-frequency trading. Despite the recent drop in the price of the INJ token (COIN:INJUSD), trading volume has increased.

Polygon Discord incident and Fantom’s standout performance

Polygon’s native token (COIN:MATICUSD) has dropped about 6.7% in the last 24 hours. On August 24, Mudit Gupta, Polygon’s CISO, confirmed a security breach on Discord, resulting in the loss of $150,000 in Ether by a user who clicked on fraudulent links. Meanwhile, Fantom (COIN:FTMUSD), down 6.2% in the last 24 hours, has performed impressively over the past two weeks, nearing the $0.50 resistance. Fantom also launched the Sonic Network, with an airdrop planned for FTM holders.

Open Network disruption related to DOGS memecoin airdrop

The Open Network (COIN:TONCOINUSD), linked to Telegram, resumed operations after nearly six hours of downtime, caused by a spike in traffic due to the DOGS memecoin airdrop. The high transaction activity, including a value of over $550 million, overwhelmed the network’s validators, causing a loss of consensus.

Pavel Durov to appear in French court after temporary arrest

Pavel Durov, CEO of Telegram, will face a French court on Wednesday after his detention on Saturday at an airport near Paris. He was arrested on charges of facilitating crimes such as money laundering and child pornography on Telegram, and for not cooperating with the police. Although temporarily released, there was confusion about his legal situation. Telegram stated that it complies with EU laws and denies responsibility for crimes committed through the platform. In 2017, Durov’s iPhone was hacked as part of “Purple Music,” a coordinated operation by French and UAE spies. The espionage targeted the use of Telegram for suspicious activities. The case raises questions about digital privacy and possible political traps. The arrest briefly boosted the price of TON (COIN:TONCOINUSD).

WazirX enters moratorium after $234 million hack; CoinSwitch seeks legal recovery

The WazirX cryptocurrency platform entered a 30-day moratorium after a $234 million hack, seeking time to develop a restructuring plan. CoinSwitch, which has $9.6 million stuck in WazirX, announced its intention to file a legal action to recover its assets. WazirX CEO Nischal Shetty emphasized the importance of collaboration to overcome the crisis, while CoinSwitch assured its users of the safety of their funds.

South Korean crypto CEO stabbed in court during fraud trial

During a court hearing in Seoul, Haru Invest CEO Hugo Hyungsoo Lee, accused of embezzling $826 million from 16,000 investors, was stabbed in the neck by an alleged victim. The attack occurred as Lee and other company executives faced fraud charges. Haru Invest had suspended withdrawals in June 2023. The victim, a man in his 40s, attacked Lee in court, resulting in severe injuries that led to the CEO being hospitalized.

HKMA launches Sandbox for testing tokenization in real financial assets

The Hong Kong Monetary Authority (HKMA) introduced the Project Ensemble Sandbox to test tokenization across various financial asset classes. The initiative aims to explore the use of digital currency for interbank settlements. The Securities and Futures Commission (SFC) will co-lead the regulatory development, while HashKey Group will test the tokenization of assets such as carbon credits, promoting integration between traditional finance and Web3.

Japan boosts Web3 with tax reforms and growing crypto adoption

Japan is promoting the Web3 industry through tax reforms aimed at supporting startups and attracting international developers, announced Minister Takeru Saito on August 28. Web3 technology is seen as crucial for solving social problems, according to Prime Minister Fumio Kishida. Additionally, a survey revealed that more than half of institutional investors in Japan plan to invest in cryptocurrencies within the next three years, reflecting growing adoption and optimism in the sector.

Bitfarms expands U.S. operations with new data center and aggressive growth plans

Bitfarms (NASDAQ:BITF) inaugurated its first mega data center in the U.S., located in Sharon, Pennsylvania, with an initial capacity of 30 megawatts (MW) by the end of the year and a planned total of 120 MW by 2025. The company, which has already ordered new equipment, is expanding its presence in the region and vertically integrating with the acquisition of Stronghold Digital Mining (NASDAQ:SDIG), aiming to reach over 950 MW of capacity by 2025.

Lemniscap raises $70 million for Web3 projects with a focus on Bitcoin

Lemniscap, based in the Cayman Islands, raised $70 million to fund early-stage Web3 projects, with an emphasis on the Bitcoin ecosystem. The fund, anchored by Accolade Partners, targets zero-knowledge infrastructure, consumer applications, and decentralized infrastructure (DePIN). This initiative reflects a growing trend of exploring Bitcoin’s utility beyond traditional networks like Ethereum. Lemniscap has already made over 130 investments.