The Latest Crypto News You Might Have Missed July 8-14
The crypto industry keeps surprising us with so many events that we sometimes cannot keep up with it. While last week we discussed Mt. Gox, ConsenSys, new crypto rules in the EU, and the evergreen SBF topic, this week brings new updates and major events that need to be analyzed.
Thus, lets talk about the latest cryptocurrency news.
Table of contents
Top of the Latest Crypto News of This Week
Last week came with big announcements in the crypto industry, the most intriguing ones focusing on Solana and Cardano, two of the most popular cryptocurrencies in the market.
Solana Client Launched $1 Million Bug Bounty
Summary
Soon-to-be Solana independent validator Firedancer launched a bug bounty with a $1 million reward pool.
Details
Firedancer, an upcoming Solana independent validator, announced a bug bounty available for all Solana developers. The bug bounty started on July 10 and will end on August 21, and during this time, users have the chance of winning $1 million paid in USDC (USD Coin).
The bug bounty program is the first of its kind for Firedancer and is provided by Jump Crypto with the help of the bug bounty platform Immunefi.
Source: Cointelegraph
Cardano Released Node 9.0
Summary
Cardano launched its newest validator node software, Node 9.0, amid preparations for the Chang hard fork.
Details
Cardano launched Node 9.0, the latest version of its validator node software, on July 8, 2024, shortly after Charles Hoskinson, the crypto projects founder, teased it in a YouTube video. Thus, Cardano has achieved a new milestone before the long-awaited Chang hard fork.
The Chang hard fork is a significant change for Cardano, contributing to fully decentralized governance for the network. It represents the beginning of a new phase in Cardanos roadmap, Age of Voltaire, which is expected to bring big changes to Cardanos governance structure.
Source: Yahoo Finance
Top of the Latest Cryptocurrency News on Markets
The crypto market can be affected by many events, including changes to exchanges, their fees, crypto prices, and others. Last week, the spotlight was on BlackRock and the so-popular Fear & Greed Index.
BlackRocks BUIDL Reached $500 Million
Summary
BlackRocks BUIDL reached a market cap of $500 million, becoming the largest such investment product in the market.
Details
The BlackRock USD Institutional Digital Liquidity Fund reached a $500 million market cap, thus becoming the first tokenized treasury fund to reach such an all-time high. This way, BUIDL surpassed the Franklin OnChain US Government Money Fund (BENJI), which used to be the largest tokenized treasury fund.
BUIDLs price is pegged 1:1 to the US dollar and pays accrued dividends daily to investors through its partnership with real-world asset tokenization company Securitize.
Source: TradingView
The Fear & Greed Index Reached the Lowest Level Since Early 2023
Summary
The Fear & Greed Index reached 27 on July 9, this being the lowest level since January 2023.
Details
The Crypto Fear & Greed Index hit the lowest levels since January 2023, reaching a concerning level of 27 on July 9, 2024, according to Glassnode data analysis. In January 2023, 2 months after the FTX collapse, the index was at 26.
This surprising and concerning change was influenced by the German government selling its BTC tokens and Mt. Gox repaying its creditors, two events that caused the Bitcoin price to drop to $63,000 at the end of June and trade at a little over $53,000 on July 5.
Source: Cointelegraph
Top of the Latest Cryptocurrency News on Regulation
With the SEC (Securities and Exchange Commission) crackdown scrutinizing all crypto projects and many other jurisdictions following crypto carefully, its no wonder the topic of regulation gathered many significant events last week. The most popular focus is on Paxful.
Paxful Co-Founder Pleaded Guilty Amid AML Accusations
Summary
Paxful co-founder pleaded guilty to conspiracy to establish an AML program and is looking at a maximum 5 years sentence in prison.
Details
Artur Schaback, the Co-Founder and former CTO of Paxful crypto exchange, pleaded guilty to conspiracy to deliberately fail to establish, develop, implement, and maintain a compliant AML program. The US Department of Justice and the Office of Public Affairs revealed that he failed to collect KYC information for the exchanges customers from July 2015 to June 2019.
Artur Schabaks sentencing is scheduled for November 4, 2024. The Paxful co-founder may face a maximum penalty of 5 years in prison. The final sentence will be decided by a federal district court judge considering the US Sentencing Guidelines.
Source: CryptoPoptato
Top of the Latest Cryptocurrency News on NFTs
Pudgy Penguins to Enable Access to Its Virtual World
Summary
Pudgy Penguins announced a partnership with Unstoppable Domains to provide access to Pudgy World through .pudgy domains.
Details
Pudgy Penguins NFT collection partnered with Web3 domain developer Unstoppable Domains to offer its users access to Pudgy World through .pudgy domain names. The partnership was announced on July 10 through multiple press releases and will allow .pudgy domain holders to sign into the virtual world by using only their domain names.
This change will improve the ownership layer of the Pudgy World experience. Users will no longer be required to log in using Web2-based credentials, thus eliminating the need for traditional passwords.
Source: CryptoDaily
Top of the Latest Cryptocurrency News on DeFi
Goldman Sachs Announced 3 New Tokenization Products for 2024
Summary
Goldman Sachs announced it will release 3 new tokenization products by the end of this year, with the most intriguing being represented by marketplaces for RWAs.
Details
Goldman Sachs, one of the worlds major investment banks, announced that it will launch 3 new tokenization products in 2024.
One of the 3 products is represented by marketplaces for tokenized real-world assets (RWAs). They will lower transaction times and expand the types of assets that can be used as collateral. The bank will use permissioned blockchains to maintain better control over transactions and comply with regulatory measures.
Source: Blockonomi
Coinbase Launched Unified On-Chain Monitoring Through New Wallet App
Summary
Coinbase crypto exchange launched a new wallet version that will allow users to combine multiple portfolios in one place.
Details
Coinbase, one of the largest crypto exchanges in the market, launched a new version of its wallet, thus allowing users to access their portfolios from multiple platforms in a single app.
The Coinbase wallet will be available on desktop and mobile devices, and users will be able to connect any self-custody wallet supported by Wallet Connect, such as MetaMask and Phantom. The best part about this feature is that users are not required to have a Coinbase wallet to use this service.
Coinbases new wallet version will support digital assets across Bitcoin, Solana, and Ethereum-based networks. The senior director of product management at Coinbase, Sid Coelho-Prabhu, said that no fees will be charged for this feature.
Source: Cointelegraph
Portal Launched an Interoperability Platform for Blockchain Gaming
Summary
Portal launched Portal Pay, a payment solution allowing gamers to make payments in 5,000 digital assets in each game available.
Details
Web3 game distribution platform Portal launched Portal Pay, a crypto payment solution that will enable cross-chain interoperability for Web3 games and dApps (Decentralized Applications). Through this product, Portal aims to transform the crypto gaming industry by providing a payment solution that improves the user experience for game developers and gamers alike.
Portal Pay will allow gamers to complete payments using over 5,000 digital assets within a single game. It will also allow games and their developers to receive payments in their preferred digital assets through the platforms smart swap feature.
Source: CoinTrust
Top of the Latest Cryptocurrency News on Altcoins
Trump Memecoin Surprising Increase After Assassination Attempt
Summary
The largest Trump-themed memecoin surged by almost 50% after the attempted assassination of the former US president and current candidate for the same position.
Details
Maga Coin (TRUMP), a memecoin inspired by Donald Trump, surged by almost 50% after the assassination attempt at a rally in Pennsylvania. TRUMPs price surged from $6.31 to $10.36 in just a few hours, with the market cap increasing from $293 million to $469 million in less than 45 minutes.
This change comes after an attempted assassination of Donald Trump on July 14, 2024. The 45th US president was speaking at a rally in a suburb of Pennsylvania.
Maga Coin (TRUMP) is one of the most popular Trump-themed memecoins, currently having the highest price and market cap.
Source: Nairametrics
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