News from the blockchain world #52 | Web3 opportunities & more ??
Hey everyone! We've got your weekly scoop from the world of blockchain and Web3. ?? Take a moment to unwind and dive into our latest updates and insights. Enjoy the read! ??
From this edition, you'll learn, a.o:
? What university and crypto exchange drives the FS Tech Hub in Milan?
? Which countries' crypto exchanges will be affected by the new Digital Markets Act?
? How are crypto lending platforms adapting to SEC scrutiny
? What methods are traditional financial firms using to integrate blockchain?
? Who raised over $3.5 million in a presale?
For the newest crypto opportunities, visit our page and explore curated airdrops, testnets, and NFTs.
Happy reading, and see you next week!
?? eToro Ventures to Italian Fintech through Collaboration with SDA Bocconi.
eToro has joined the European FS (Financial Services) Tech Hub in Milan. This project is promoted by I.C.E. SDA Bocconi and involves various partners from the financial services sector, including industry associations. As a member of the Hub, eToro will work with I.C.E. SDA Bocconi to create an event focused on the evolution of financial markets.
?? Panasonic, IBM partner with Constellation Network to debut its DoD-vetted "Blockchain of Blockchains" in Global Hackathon.
Panasonic and IBM have joined Constellation Network for its Global Metagraph Hackathon, introducing its Hypergraph distributed ledger technology. Developed under US Department of Defense contracts, Hypergraph facilitates interoperability across Web3 and Web2 networks. The hackathon, offering $100,000 in prizes, aims to foster innovative metagraph applications, leveraging Constellation's fast, feeless network for scalable, secure, and interoperable decentralized applications.
?? BNP Paribas partners Ant International to enhance cross-border payment solutions
French banking giant BNP Paribas has partnered with China’s Ant International to enhance cross-border payment solutions across Europe. The strategic collaboration includes leveraging Ant Group’s Alipay+ for BNP Paribas’ merchant acquiring services, enabling payments from over 25 international mobile partners. They will also explore tokenised deposits and utilize Ant’s Whale platform to improve global fund settlements' efficiency and transparency. Additionally, BNP Paribas will support WorldFirst, acquired by Ant International, in integrating into the SEPA scheme.
?? Visa and Wirex Partnership.
Visa and Wirex have teamed up to launch Wirex Pay, aiming to revolutionize digital payments by enabling seamless crypto transactions at millions of merchants worldwide. This collaboration integrates Visa's payment network with Wirex's Zero Knowledge (ZK) payment chain technology, enhancing accessibility and convenience for users managing both cryptocurrencies and traditional currencies.
?? Alchemy Pay Partners with Mastercard to Streamline Account Opening & Reduce Fraud.
Alchemy Pay, a fiat-crypto payment gateway, has partnered with Mastercard to utilize its account opening solution for verifying users and preventing fraud. The integration of Mastercard’s account opening API enhances the security identification and risk control features across Alchemy Pay’s diverse product offerings, including On & Off-ramp solutions, NFT Checkout, and its Crypto Card Solution.
?? Kraken Becomes Official Crypto Partner of Spain's Iconic Football Club Atlético de Madrid – News Bytes Bitcoin News
Kraken exchange, has teamed up with Atlético de Madrid, a renowned Spanish football club, as their Official Crypto and Web3 Partner. Starting from the 2024 season, Kraken will also feature on the sleeves of all men’s and women’s team shirts. This partnership aims to blend sports and Web3, offering new opportunities for fans and promoting crypto awareness globally, following Kraken’s successful engagement with Williams Racing Formula 1.
?? Binance introduces ‘crypto loan’ feature
Binance, has announced plans to expand its loanable assets through Binance Loans and VIP Loan services to meet the diverse borrowing needs of users. The introduction of new assets aims to solidify Binance's position as a versatile provider in the digital finance landscape, despite ongoing legal battles. Following this announcement, BNB saw a positive price action, trading at $530.70 with a 1.39% increase, but will need to breach immediate resistance at $559 to enter a sustained bullish phase.
?? Bank of Israel Remains Uncertain About Potential CBDC
The Bank of Israel is waiting for another advanced economy to launch a central bank digital currency (CBDC) before introducing its own, with the European Central Bank (ECB) likely to be the first. While the Bank of Israel has been conducting research and experiments with a digital shekel, the main aim is to be prepared should they decide to launch one in the future. The use of CBDCs is seen as a way to enable payment providers to compete with banks, potentially offering lower supervision and capital requirements. Despite the ongoing explorations, the decision to issue a digital shekel still remains uncertain.
?? US spot bitcoin ETFs report $147 million in net inflows, extending positive streak to 4 days
On Wednesday, U.S. spot bitcoin ETFs saw a total daily net inflow of $147.37 million, continuing a four-day streak of positive fund flows.
?? German government receives back $141 million in bitcoin
The German government wallet, which had previously sent a large amount of bitcoin to exchanges and market entities, received 2,442 bitcoins last night. According to Arkham, the wallet received 903 bitcoins ($52.3 million) from Kraken, 1,529 bitcoins ($88.6 million) from unlabeled addresses, and ten bitcoins ($575,000) from Bitstamp. This inflow follows a significant outflow of over 10,853 bitcoins ($637.7 million) to exchanges and entities the previous day, as reported by The Block.
?? Russia's Minfin mulls crypto trades on stock exchanges for select investors only
Russia's Ministry of Finance (Minfin) is considering allowing crypto trading on stock exchanges, with a focus on legalizing crypto payments for cross-border trades. According to Interfax, this measure would be available only to "highly qualified" investors due to ongoing opposition from the Bank of Russia against full crypto legalization.
?? Goldman Sachs Plans To Launch Tokenization Funds, RWA Marketplace
Goldman Sachs, a 150-year-old financial institution, is reportedly planning to launch three tokenization projects by the end of the year. The projects will target the U.S. fund sector, European debt markets, and create marketplaces for tokenized assets, using permissioned networks. This move aligns with the firm's focus on digital assets under the leadership of Mathew McDermott, who has been promoting blockchain technology and digital transformation within Goldman. Other major financial institutions like BlackRock, Franklin Templeton, and Fidelity are also advancing in the tokenization space, with BlackRock's Ethereum-based fund recently surpassing $500 million in assets under management.
?? VanEck and 21Shares file for Solana ETFs—a 'bet' on a Trump victory
The Chicago Board Options Exchange has filed paperwork for two new crypto offerings: the VanEck Solana Trust and the 21Shares Core Solana ETF, aiming to offer a Solana ETF following the SEC's approval of Bitcoin ETFs. However, approval will be a challenge, as the SEC requires a regulated futures market for the underlying asset, a requirement Solana currently lacks. Issuers are betting on a Trump win in the upcoming election for a chance at approval, despite facing hurdles with the current SEC administration's stance on proof-of-stake coins. VanEck is working on a legal case to challenge this prerequisite, and remains optimistic about the chances of a Solana ETF approval regardless of the election outcome.
?? Ronaldinho joins Messi in promoting water-themed Solana memecoin
In a recent Instagram post, soccer legend Ronaldinho Gaúcho promoted the Solana token Water Coin (WATER), causing a 38.8% rally in its price before dropping back down. Despite the drop, WATER is still up 158% from a similar post by Lionel Messi on June 8. However, industry critics have flagged WATER as a potential pump-and-dump token, urging caution. Ronaldinho's involvement with the crypto world has previously been under scrutiny, as he appeared before a Brazilian parliamentary committee inquiry over an alleged $61 million crypto pyramid scheme that used his likeness without permission.
?? Stacking DAO Teams Up With Copper, A Digital Asset Custody Provider
Stacking DAO has partnered with Copper to offer users the ability to stake on the Stacks blockchain while engaging in DeFi strategies, with stSTX as its flagship liquid staking token. Copper, a trusted digital asset custody provider, will be the institutional custodian for stSTX, setting industry benchmarks for security and reliability. This collaboration aims to address the needs of institutional investors and large digital asset holders seeking robust custody solutions, setting a standard for security, accessibility, and growth in the digital asset space.
?? Zodia Markets reportedly in talks to acquire Alan Howard-backed crypto OTC firm
Standard Chartered's crypto arm Zodia Markets is in final discussions to acquire a portion of Elwood Technologies' crypto over-the-counter business, with the deal expected to be completed by August. By acquiring Elwood's business, Zodia Markets would gain licenses for virtual asset service provider services and investment businesses in Jersey, and focus on expanding its OTC settlement services. This move comes as Elwood Technologies refocuses its efforts on portfolio and risk management services, and Zodia Custody secures funding to intensify its efforts in Australia.
?? SBI Digital Markets appoints former Bank of Korea official to expand in South Korea
SBI Digital Markets, a crypto unit of Japanese securities and banking giant SBI Holdings, has appointed a former Bank of Korea official as principal consultant to expand its presence in South Korea.
?? US spot bitcoin ETFs record $216 million in net inflows, continuing positive flow streak
The 11 spot bitcoin exchange-traded funds in the U.S. saw $216.33 million in net inflows on Tuesday, extending the positive streak to a third day.
?? Fileverse unveils Google Documents competitor ddocs.
Fileverse has unveiled ddocs, a decentralized document-sharing platform
?? Telegram tap-to-earn baseball video game launched by Delabs Games.
Delabs Games, based in South Korea, has launched "Giga Chad Bat," a tap-to-earn baseball game on Telegram. This game aims to capitalize on the popularity of similar Telegram-based games like Hamster Kombat and Notcoin. Led by CEO Joonmo Kwon, known for his work with Nexon Games, Delabs Games focuses on integrating web3 features into enjoyable gameplay experiences. Players can earn GAME tokens by competing for points in Giga Chad Bat, following the success of their previous crypto title, Rumble Racing Star.
?? Wirex’s New Whale App Lets You Earn Rewards on Telegram.
Wirex introduces Whale, an innovative Telegram app aiming to revolutionize the attention economy by rewarding users with educational and financial incentives. By leveraging the Telegram ecosystem, Whale provides users with the opportunity to engage, earn WXW tokens, and participate in exclusive airdrops, all while bridging the gap between digital and real-world economies.
?? What is Fragment, and how can you buy Telegram usernames on the TON blockchain?
Fragment, built on the TON blockchain by Telegram, allows users to buy and sell tokenized usernames and anonymous phone numbers as NFTs. Using Toncoin, transactions are conducted securely on Fragment, where users can bid on usernames or purchase directly. This platform offers a novel way to monetize Telegram usernames and enhance privacy through virtual phone numbers without traditional SIM cards.
?? Coinbase Debuts Wallet App as Hub for Onchain Activity
Coinbase has launched a new centralized hub for monitoring onchain activities, allowing users to view and manage all their crypto assets in one place. The Coinbase Wallet web app lets users explore, manage and engage with people, communities and businesses onchain, accessible on both desktop and mobile devices. This move comes as crypto hackers are increasing their efforts, with a report showing a significant rise in stolen funds. Stripe and Coinbase also teamed up to expand the worldwide embrace of cryptocurrency.
?? TON and Polygon Labs Collaborate to Bring EVM Functionality Through New TON L2
The TON Application Chain (TAC) and Polygon Labs have partnered to bring Ethereum Virtual Machine (EVM) functionality to the TON ecosystem, aiming to expand services like DeFi and gaming for users. The integration will allow TAC to offer EVM-compatible DApps to Telegram users, with plans to raise $5 million in external funding. This move is expected to boost interest in DeFi and GameFi applications, leveraging TAC's growing on-chain wallets on Telegram and providing new opportunities for Ethereum developers.
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?? Coinbase narrows its subpoena for Gary Gensler's emails and communication to only during his time as SEC chair.
Coinbase has revised its subpoena on SEC Chair Gary Gensler to focus only on communications during his tenure as SEC Chair, narrowing its request from documents spanning 2017 to the present. This move follows objections from the SEC and concerns raised by Judge Katherine Polk Failla about the scope of the subpoena and the privacy of Gensler's personal communications. The court proceedings are ongoing, with Coinbase planning to file a motion to compel further documents related to its ongoing legal dispute with the SEC over regulatory matters.
?? Tornado Cash Founder Trial Postponed to December.
Roman Storm, co-founder of Tornado Cash, has had his trial delayed to December by Judge Katherine Failla of the Southern District of New York. The delay comes amidst complex legal debates over Tornado Cash's responsibilities for user actions, including alleged money laundering activities. Storm's defense argues he lost control of Tornado Cash in 2020 and should not be held liable for users' actions.
?? Payeer fined $10M in Lithuania.
Payeer, a crypto exchange and payment service, has been fined €9.29 million by the Lithuanian Crime Investigation Service (FNTT) for breaching Anti-Money Laundering regulations. The investigation revealed that Payeer operated without adequate customer identity verification and facilitated transactions involving sanctioned Russian banks and Russian rubles. The fines include €8.23 million for violating international sanctions and €1.06 million for AML violations, with Payeer having the option to appeal the decision.
?? SEC Decides to Drop Investigation into Paxos
The U.S. Securities and Exchange Commission (SEC) has decided to end its investigation into stablecoin issuer Paxos, choosing not to pursue enforcement action regarding the Binance USD (BUSD) token. Paxos responded to the SEC's decision with a statement expressing satisfaction and asserting that their stablecoins are not securities under federal securities laws. This move follows a Wells notice issued to Paxos in February, signaling the SEC's aim to regulate the digital asset market and ensure customer asset safety.
?? NY Judge rejects Coinbase's efforts to subpoena SEC Chair Gary Gensler, says she is surprised 'not in a good way'
U.S. District Judge Katherine Polk Failla of New York was not convinced by Coinbase's arguments to subpoena SEC Chair Gary Gensler. Coinbase had issued a subpoena in June for Gensler to produce documents related to crypto communications from 2017 to the present. The SEC countered with a protective order, asserting the subpoena should target the agency, not Gensler personally. Coinbase's lawyers argued that Gensler's personal emails on crypto were relevant. Judge Failla expressed surprise at Coinbase's July 3 arguments and raised concerns about targeting Gensler's private communications. Ultimately, she suggested Coinbase file a motion to compel but remained unpersuaded by their subpoena request
?? SEC's Paxos probe ends
The SEC will not take enforcement action against Paxos after investigating the Binance USD (BUSD) stablecoin. Paxos received a termination notice, ending the probe without action. This development could boost stablecoin adoption and transform financial systems. The SEC's stance on stablecoins remains unclear, despite past actions labeling BUSD a security. U.S. lawmakers are working on regulations for stablecoins and determining the primary regulator.
?? SEC allows certain firms to skirt controversial crypto accounting bulletin
Some companies have developed practices that the SEC agrees can exempt them from the controversial crypto accounting guidance in SAB 121. Issued in March 2022, SAB 121 requires firms to record customer crypto holdings as liabilities. Following multiple crypto bankruptcies, firms sought SEC advice and have demonstrated that their procedures protect and control assets like traditional ones, allowing customers to retrieve their crypto during bankruptcies.
?? US Congress says Nigeria ‘wrongfully detaining’ Binance exec to ‘extort’ exchange, initiates legislation to free him
The US House of Representatives has introduced a resolution urging Nigeria to release Tigran Gambaryan, a former federal agent and Binance employee detained since February. Representatives Rich McCormick and French Hill submitted the resolution on July 11, highlighting Gambaryan's service in recovering over $4 billion in illicit funds. At the time of his detention, Gambaryan was Binance's Head of Financial Crime Compliance.
?? Lithuania Fines Crypto Firm $10M for Russian Sanctions Violations
The Lithuanian Financial Crime Investigation Service (FNTT) has fined the crypto firm Payeer nearly 9.3 million euros ($10 million) for international sanctions violations and anti-money laundering (AML) breaches. Payeer was fined for facilitating transactions in Russian rubles through its platform, involving sanctioned Russian banks and clients.
?? CFTC Chair Reiterated to U.S. Senate that Bitcoin and Ethereum Are Commodities
CFTC Chairman Rostin Behnam has once again called for his agency to oversee Bitcoin and Ethereum as commodities, citing a recent court ruling that reinforces this classification. Behnam emphasized the need for urgent federal legislation to create a regulatory framework that will protect investors and the financial system from future risks associated with digital assets. Additionally, he outlined five key legislative priorities to better regulate digital commodities, including tailored rules, comprehensive disclosure requirements, and enhanced KYC and AML capabilities.
?? Bank of Italy to release crypto guidelines in ‘coming days’ — Governor
The Bank of Italy is set to release guidelines on how to apply the new EU crypto rules in the coming days, aimed at protecting holders of cryptocurrencies and ensuring effective application of the Markets in Crypto-Assets Regulation. Bank of Italy Governor Fabio Panetta highlighted the importance of distinguishing between asset-reference tokens and electronic money tokens, with only the latter seen as fully trustworthy means of payment. Furthermore, Panetta criticized unbacked crypto-assets like Bitcoin and Ether for lacking intrinsic value and potentially being used to evade taxes and regulations. The Italian government is planning to increase surveillance on crypto markets, with fines up to 5 million euros for violations.
?? CDK Global Reportedly Pays $25 Million in Bitcoin to Resolve Ransomware Attack.
A ransomware group linked to the June cyberattack on CDK Global (a software firm serving car dealerships across the US) received over $25 million in Bitcoin, with CDK paying 387 BTC to end the cyberattack. Despite reports, CDK has not confirmed the ransom payment, but most of its 15,000 car dealership customers are back online.
?? Lazarus is moving millions from $305M DMM Bitcoin hack.
Hackers responsible for the $305 million DMM Bitcoin exchange hack have laundered over $35 million at an online marketplace in Cambodia. The funds were funneled through Huione Guarantee, linked to the nation's ruling Hun family, using a series of complex transactions involving Bitcoin, Ethereum, and Tron. Despite Tether blacklisting a Tron wallet address involved in the laundering, the perpetrators have managed to move substantial amounts of stolen cryptocurrency to Huione.
?? Celer Network thwarts attempted DNS attack that allegedly puts 128 Web3 projects at risk
Celer Network, one of two Web3 companies with compromised websites, announced it successfully intercepted the attempted takeover of its site. The Block reported that the issues might be due to problems at domain hosting firm Squarespace. Meanwhile, Compound and Pendle Finance continue to warn users against accessing its front-end website, which has been redirected to a phishing site.
?? Square Enix leads $3 million investment round in Soccerverse.
Football simulator Soccerverse has secured a ￡2.5 million investment led by Square Enix, bringing its total funding to $4 million. With plans to enhance its gameplay and expand its global reach, the studio aims to revolutionize the football management genre with its blockchain technology. This strategic partnership with Square Enix is set to pave the way for Soccerverse to achieve new levels of quality and innovation, marking a significant milestone in its journey towards becoming a community-driven and immersive gaming experience.
?? Bima Labs Raises $2.25M to Develop Bitcoin-Backed Universal Stablecoin.
Bima Labs, based in San Mateo, CA, secured $2.25M in seed funding. Bima Labs is creating the universal stablecoin backed by restaked Bitcoin that’s also chain-agnostic. The platform allows users across various BTC L2s and side chains to stake their Bitcoin as collateral and restake corresponding liquid staking and staking tokens into a vault to mint USBD (Universal Stable Bitcoin Dollar).
?? eTukTuk Raises Over $3.5 Million in Presale.
eTukTuk, a cryptocurrency project launched to promote eco-friendly transportation using EV TukTuks in Sri Lanka, has successfully raised over $3.5 million in its presale phase. The project integrates with Cardano’s blockchain technology and issues the $TUK token for transactions and rewards. Additionally, eTukTuk has launched a Play-To-Earn (P2E) game called "TukTribe," allowing players to earn $TUK tokens.
?? Partior, Blockchain Payment Network Backed by JPMorgan and DBS, Raises $60M Series B.
Partior, a blockchain payment network supported by JPMorgan, DBS, and Standard Chartered, has successfully secured $60 million in Series B funding. The funding aims to enhance Partior's capabilities in intraday FX swaps and cross-currency repurchases, leveraging blockchain technology for instant clearing and settlement in interbank transactions.
?? Token distribution protocol ZAP reaches $100 million valuation with latest funding.
ZAP, a token distribution protocol built on the Blast Ethereum Layer 2 network, has raised $15.1 million in total funding, propelling its valuation to $100 million. The funding includes a seed round, private round, and an ongoing vault sale, offering benefits like token airdrops. ZAP aims to revolutionize token launches with a reputation-based distribution model, expanding beyond Blast to other blockchains like Base. With ambitions to enhance token launch experiences, ZAP is poised to scale its impact in the crypto ecosystem.
?? Argentine FinTech Tapi Raises $22 Million Amid Expansion Into Mexico.
Tapi has raised $22 million in funding to expand into Mexico, expecting to process $400 million in payments this year. Tapi serves as a processor for payments on large Latin American consumer platforms such as Mercado Pago and cryptocurrency exchange Lemon. With a current projection of fivefold growth in total payment volume by the end of the year and a focus on financial inclusion, Tapi aims to work with FinTechs to transform cash into digital payments. The company's CEO, Tomas Mindlin, anticipates Mexico to be the fastest growing market, aiming to have 80% of the banked population in Mexico using Tapi's infrastructure within a year.
?? Pixelverse Raises $2 Million, Totals $7.5 Million in Private Funding.
Pixelverse, a Web3 gaming platform, secured an additional $2 million in funding from Web3 venture capital firms and angel investors, bringing their total private funding to $7.5M (initial $5.5 million was raised in June). The funds will expand their gaming ecosystem, integrating cryptocurrency accessibility through gaming mechanics and expanding into media and new product lines.
?? BOB Closes $1.6M Strategic Funding
A London, UK-based provider of a hybrid Layer-2 empowered by Bitcoin and Ethereum, raised $1.6M in Strategic funding. The round was led by Ledger Ventures and angels from BlackRock, Rarible, Ordinals, Aave, Curve, Threshold, Magic Eden, Mechanism, Injective, Vessel Capital, Babylon, and Centrifuge, among others. $1M of the funds raised will be allocated for a BOB incubator focused on bootstrapping new and innovative startups in the BTC infrastructure and BOB dapp space.
?? Trump Selects Pro-Crypto Senator JD Vance as VP for 2024 Presidential Bid.
Republican presidential candidate Donald Trump has announced Senator JD Vance as his running mate for the 2024 election. Vance, a strong supporter of cryptocurrencies, will join the ticket as the vice-presidential candidate for the Republican Party. This surprising selection comes after Vance previously criticized Trump, describing him as "unfit" for the presidency, but has now endorsed him for the 2024 Republican primaries.
?? Abduction of Hong Kong toddler marks crime wave targeting crypto owners.
Violent criminals are targeting cryptocurrency owners in Asia and the US, with cases of kidnappings and robberies increasing. In Hong Kong, a three-year-old boy was abducted for ransom to be paid in USDT, but was rescued by the police. Similar cases have been reported in the US and the Philippines, highlighting the dangers faced by crypto investors.
?? Bitcoin Spikes as Failed Assassination Attempt Bolsters Trump’s Election Bid.
Bitcoin price surged over the weekend, reaching $62,450, following a failed assassination attempt on former President Donald Trump. The incident sparked a rise in Trump-inspired meme coins and led to increased support for Trump on social media. Crypto investors believe a Trump victory in the upcoming election could lead to more favorable regulatory conditions compared to a second term under President Joe Biden.
?? Malaysian crypto miners stole $722 million worth of power: energy official
Cryptocurrency miners in Malaysia illegally used at least RM3.4 billion ($722 million) worth of electricity between 2018 and 2023, according to Akmal Nasrullah Mohd Nasir, the deputy energy transition and water transformation minister. He stated that these illegal activities have become more widespread. The miners often believe they won't be detected due to the lack of meters at their sites, but energy companies have methods to identify unusual energy consumption.
?? Donald Trump Announced as Keynote Speaker at Bitcoin 2024 Conference
Former U.S. President Donald Trump will take the stage as a keynote speaker at the Bitcoin 2024 conference, set to take place in Nashville, Tennessee, from July 25 to 27.