🔔 Swiss Regulator FINMA Proposes New Rules for Stablecoin Issuers

➡️ FINMA proposed new guidelines classifying stablecoin issuers as financial intermediaries, requiring AML compliance and depositor protection measures. This aims to enhance regulatory oversight and mitigate financial risks.

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https://www.finma.ch/en/~/media/finma/dokumente/dokumentencenter/myfinma/4dokumentation/finma-aufsichtsmitteilungen/20240726-finma-aufsichtsmitteilung-06-2024.pdf?sc_lang=en&hash=03D675C1247EAFAE0C391363A2F18B9A

🔔 Senator Lummis Proposes U.S. Purchase 1M Bitcoin to Reduce National Debt

➡️ U.S. Senator Cynthia Lummis plans to introduce legislation to establish a "strategic bitcoin reserve" to reduce national debt by purchasing 1 million BTC over five years, to be held for at least 20 years. She compared the initiative to the Louisiana Purchase. At current prices, the bitcoin would be worth around $68 billion.

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https://www.lummis.senate.gov/press-releases/lummis-announces-revolutionary-proposal-to-supercharge-the-dollar-bolster-u-s-economy/

🔔 Cantor Fitzgerald Launches $2B Bitcoin Financing Business

➡️ Billionaire Howard Lutnick, CEO of Cantor Fitzgerald, announced the launch of a $2 billion Bitcoin lending program at Bitcoin 2024. Lutnick expressed strong support for the cryptocurrency community, linking his personal losses during 9/11 to his commitment to Bitcoin. The program will offer leverage to Bitcoin owners, signaling a bullish move for financial institutions and the market.

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https://www.prnewswire.com/news-releases/cantor-fitzgerald-to-launch-bitcoin-financing-business-302208093.html

🔔 WazirX Introduces Fund Recovery Plan Following $230M Hack

Indian crypto exchange WazirX announced a socialized loss strategy to address the recent cyberattack that resulted in a $230 million theft, impacting 45% of user funds. WazirX will allow users immediate access to 55% of their assets while locking the remaining 45% in Tether-equivalent tokens, aiming for a fair and swift recovery process.

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https://x.com/WazirXIndia/status/1817017630877974650

🔔 Hong Kong legislator Johnny Ng plans to explore adding Bitcoin to the city's financial reserves.

👉 Source

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🔔 Major Token Unlocks in August 2024🔒

📆 August 1st:
- XRP: 600 million tokens
- Sui: 64 million tokens
- dYdX: 8.33 million tokens
- ZetaChain: 53.9 million tokens

📆 August 3rd:
- Wormhole: 600 million tokens

📆 August 9th:
- ImmutableX: 32.5 million tokens

📆 August 12th:
- Aptos: Significant portion of APT tokens

📆 August 14th:
- The Sandbox: Major unlock of SAND tokens

📆 August 20th:
- Avalanche: 9.4 million tokens

📆 August (Date TBD):
- Starknet and Arbitrum: Significant token unlocks

🔔 Ethereum ETF Launch Attracts $2.2 Billion in Inflows: CoinShares

➡️ The launch of spot-based Ether ETFs has driven substantial inflows, with new ETFs attracting $2.2 billion and a 542% increase in ETH ETPs, according to CoinShares. However, these gains were offset by $285 million in net outflows from incumbent funds, including Grayscale’s $1.5 billion trust.

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https://etp.coinshares.com/knowledge/market-activity/fund-flows-29-07-24

🔔 Elon Musk Declares: "I Won't Be Promoting Crypto"

➡️ Elon Musk, in a podcast, mentioned the merit in Bitcoin and other cryptocurrencies. He expressed a fondness for Dogecoin, citing his love for "dogs and memes." Musk clarified that he doesn't intend to promote any crypto seriously and would only do so in a joking manner.

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https://x.com/dogeofficialceo/status/1817749701627933097

🔔 US Government Transfers $2 Billion in Silk Road Bitcoin

➡️ The U.S. government moved over $2 billion worth of seized Bitcoin from the Silk Road marketplace to an unknown wallet, according to Arkham Intelligence. This comes after former President Donald Trump proposed creating a national "strategic Bitcoin stockpile" and stopping the sale of seized Bitcoin if re-elected. The government's plans for the transferred Bitcoin are still unknown.

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https://platform.arkhamintelligence.com/explorer/tx/2e0b8f39af7d57989a9f911f211d88541473536b42ee4ebd4503cff525155bb0

🔔 One Trading Secures Dutch License, Brings EU Crypto Futures Onshore

➡️ One Trading, a Netherlands-based digital asset exchange, received an Organized Trading Facility license from the Dutch Financial Markets Authority. This allows the exchange to offer onshore crypto futures trading in Europe, becoming the first regulated European derivatives exchange open to retail clients.

👉
https://www.businesswire.com/news/home/20240729953947/en/

🔔 BlackRock CIO for ETF and Index Investments affirmed that the asset manager is not pursuing any ETF, including the spot Solana ETF in the near future.

👉 Source

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🔔 WazirX's July 27th poll on fund recovery after a major hack faces criticism for being misleading and potentially illegal.

👉 Source

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🔔 At Bitcoin 2024, Ron Paul Advocates for Bitcoin as Future of Financial Liberty.

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🔔 Citron Founder Denies Fraud Allegations in Short Selling Case

➡️ Andrew Left, founder of Citron Research, has pleaded not guilty to securities fraud charges. A Los Angeles federal court set a $4 million unsecured bond and a $1 million collateralized bond, which Left must post by August 5. Deemed a flight risk due to his substantial assets, Left was ordered to surrender his passport and faces restrictions on large financial transactions and trading activities.

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https://www.bloomberg.com/news/articles/2024-07-30/andrew-left-pleads-not-guilty-setting-up-fight-over-short-sales

🔔 Donald Trump has once again expressed his strong support for the cryptocurrency industry.Trump stated that his first action as President would be to remove Gary Gensler.

👉 Source

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🔔 Russia Considers Legalizing Crypto for International Payments

➡️ Russia is set to legalize cryptocurrency for international payments amid Western sanctions. The State Duma will review a law allowing crypto settlements, with approval expected soon. Russia's central bank aims to start crypto-based cross-border payments by the end of 2024, reversing its previous stance against crypto.

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https://www.cnbc.com/2024/07/30/russia-considers-legalizing-crypto-as-a-form-of-payment-amid-sanctions.html

🔔 Binance Labs announces four projects for Seventh Season Incubation

➡️ Projects include:

🔸Astherus: A liquidity hub for staked assets such as liquid staking tokens (LSTs) and liquid restaking tokens (LRTs).

🔸CYCLE NETWORK: A universal, secure and verifiable chain abstraction that offers a bridgeless aggregate liquidity network for all blockchains, whether L1s, L2s, EVMs, or non-EVMs.

🔸DILL: The most scalable data availability network, fully compatible with the Danksharding roadmap.

🔸EigenExplorer: EigenLayer's first native DeFi protocol.

👉 https://x.com/BinanceLabs/status/1818209794521702754?t=wDif2XSPg7eGvhxvLDtamg&s=19

🔔 Binance Labs invests in aPriori

➡️ Binance Labs has invested in aPriori, a project focused on MEV-powered liquid staking solutions on the Monad network.

➡️ aPriori’s mission is to decentralize Monad’s network and enhance the user experience by reducing gas fees, optimizing network traffic, and driving sustainable incentives for validators.

👉 https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-apriori-through-its-incubation-program-to-advance-mevpowered-liquid-staking-5476395444355527254

🔔 SEC Accuses Nader Al-Naji of Fraud and Unregistered Crypto Asset Securities Offering

➡️ The SEC has charged Nader Al-Naji with a multi-million-dollar crypto fraud involving BitClout. Al-Naji raised over $257 million through unregistered sales, misled investors, and used $7 million for personal expenses. He falsely claimed BitClout was decentralized, using the pseudonym "Diamondhands." The SEC and the U.S. Attorney’s Office for the Southern District of New York have filed charges against him.

👉
https://www.sec.gov/newsroom/press-releases/2024-91

🔔 Starknet-Based ZKX Protocol Shuts Down Due to Lack of Users

➡️ The ZKX Protocol, a social derivatives trading platform on Starknet, has shut down due to a lack of economic viability. Founder Eduard Jubany Tur cited minimal user engagement, reduced trading volumes, and insufficient daily revenue to cover server expenses as reasons for the closure.

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https://x.com/0xeduard/status/1818206251089551810

🔔 UAE Residents Gain Ability to Trade Crypto Directly via Bank Accounts

➡️ Crypto exchange M2 has launched a new feature allowing UAE residents to buy and sell Bitcoin and Ether directly with dirhams. The integration supports trading and transactions between local currency and cryptocurrencies, enhancing accessibility and bridging traditional finance with virtual assets.

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https://cointelegraph.com/news/m2-exchange-uae-aed-to-crypto