Mind The Block: Your Weekly Dose of Web3 News and Insights
Mind The Block Headlines This Week
Table of Contents
- Ethereum gas hits 2.9 Gwei after Dencun upgrade
- Tether launches USDT on Aptos Network
- China lifts crypto ban, opening global opportunities
- Fabric Cryptography raises $33M in Series A funding
- Spherex CEO: Crypto protocols need a security rethink
- Microsoft developing metaverse hardware with Samsung
- Tron bullish trend faces rejection near $0.14
- How to Stay Safe When Gambling With Crypto?
News
- CoinW and Solana Superteam will collaborate at Coinfest Asia 2024, Asia’s largest Web3 event.
- TON blockchain has integrated Injective and Pyth Network, enhancing DeFi capabilities and user interoperability.
- Ethereum’s gas prices reached an all-time low of 2.9 Gwei on August 18, following the Dencun upgrade.
- Bitcoin staking platform Babylon is set to launch its first phase of its main network on August 22.
- Marlin and Quest Flow have partnered to enhance network security.
- BitVM Version 2 introduces a new era for Bitcoin’s L2 scaling solutions.
- Forta Foundation has launched the Forta URL Authenticator, a Chrome extension designed to protect Web3 users from rising scams.
- Flexa Components is a digital payments platform that enables retailers to accept crypto payments like USDC at the point of sale.
- CoinsKro, a community-developed Pi Network ecosystem, is preparing for the Open Mainnet launch.
Extras By Mind The Block
- BNB Chain has launched a $1M Gas Grants Program to support Web3 startups and developers for three months.
- Zulu Network and Tuna Chain have partnered to enhance dApp development and network security.
- 5ire has launched its hybrid layer-1 mainnet after a successful testnet phase.
- Decentralized exchange aggregator ParaSwap is launching an intent-based trading protocol to combat MEV attacks.
- CoinStats has partnered with FIO Protocol to offer free Web3 handles to all users.
- IntoTheBlock is partnering with Gearbox to improve the security of decentralized finance (DeFi) platforms.
- Ventory, a multichain NFT marketplace, has partnered with Value DEX to enhance the decentralized finance (DeFi) ecosystem.
- Easy Crypto has launched its first Australian wallet aimed at first-time crypto investors.
- Unstoppable Domains has partnered with Farmsent to enable farmers to accept crypto transactions and create digital identities.
- Hamster Kombat’s token listing is delayed, causing controversy and legal battles.
- INTO has partnered with Atleta Network, a sports-specific blockchain platform, for sports blockchain innovation.
- Bitwise Asset Management has acquired ETC Group’s $1B ETP portfolio, adding over $1 billion to its assets under management.
- Kroma and Micro3.io have formed a partnership to revolutionize decentralized social networks.
Major Companies Making Moves
- Tether is launching its USDT stablecoin on the Aptos Network as part of its strategy to expand digital currency accessibility worldwide.
- Gate Ventures and the Blockchain Center in Abu Dhabi have launched Falcon Gate Ventures.
- Mastercard has partnered with fintech firm Scale to expedite fintech deployment in Africa and the Middle East.
- Bitget has partnered with Solana to host a hackathon for startups in Vietnam.
- World of Memes is launching its first memecoin and utility token, WOMIO, on August 21.
- Taiko, an Ethereum-based permissionless rollup, has partnered with MeridianFi to develop an advanced lending protocol.
Government, SEC & Regulation
- China’s decision to lift its crypto ban marks a significant policy reversal, opening new global digital currency market opportunities.
- US Department of the Treasury plans to treat digital assets as fiat money, resulting in stricter reporting requirements for cryptocurrency transactions.
- Japan’s Ministry of Economy, Trade, and Industry (METI) is launching a blockchain pilot program to transform its digital landscape.
- UAE’s RAKBANK and Bitpanda collaborate on a digital asset platform for residents.
- Privacy fears in Germany are undermining support for the digital euro.
- Justin Wang, CEO of Zeus Network, believes that blockchain innovation is faster than governments and requires self-regulation.
- The Australian Securities and Investments Commission (ASIC) closed 615 cryptocurrency investment scams.
- The Dubai Court of First Instance has ruled that crypto payments for salaries under employment contracts are legally enforceable.
- The Turkish cryptocurrency market is gaining momentum as major players like Coinbase and KuCoin apply for licenses.
- Argentina-based cryptocurrency exchange Lemon has received the first fiat-crypto interoperability license in Peru.

- Nigeria’s Federal Inland Revenue Service (FIRS) plans to introduce a bill to tax crypto by September.
- Kyrgyzstan’s National Bank of the Kyrgyz Republic (NBKR) has proposed amendments to its laws to legalize a central bank digital currency.
- Thailand’s new Prime Minister, Paetongtarn Shinawatra, is expected to accelerate the country’s adoption of cryptocurrencies and blockchain technology.
Raises & Major Investments rounds
- Sahara AI, a decentralized blockchain platform company, raised $43 million to scale its operations.
- Fabric Cryptography raised $33M in a Series A funding round led by Blockchain Capital and 1kx.
- Sling has raised $15m for user-friendly stablecoin transfers, enabling transfers to 50 countries through a mobile app.
- KIP Protocol, the Web3 Base Layer for AI, has raised $5 million in its latest private funding round, bringing its total funding to $10 million.
- Holonym, a privacy-preserving data protocol, has raised $5.5 million in a seed funding round led by Finality Capital and Paper Venture.
- Soulbound raised $4 million for its Web3 social gaming ecosystem.
Trends& Narrative
- Spherex Technologies CEO Eyal Meron emphasizes the need for crypto protocols to rethink security.
- Blockchain technology could give creators control over their data and revenue, potentially reshaping how content is monetized.
- Bitwise CIO Matt Hougan reports that institutions are still adopting Bitcoin ETFs.
- Portals has partnered with ShapeShift to introduce a new feature called “Shifts,” which allows users to execute sophisticated DeFi strategies with one-click transactions.
- Shark Tank star Kevin O’Leary discusses the future of cryptocurrency, market evolution, and regulatory frameworks.

NFTs, Gaming, Metaverse
- Microsoft developed metaverse hardware after dealing with Samsung.
- HashKey Group has partnered with Telegram Mini App Catizen to develop GameFi products and digital entertainment infrastructure.
- Slerf, a memecoin project, has introduced a decentralized voting system for NFT holders on the Solana platform.
- Enig Play combines gaming excitement with blockchain technology, offering players true ownership of their digital assets.
- Nakamoto Games introduces RoadRush, a racing game for blockchain gamers, introducing sustainable staking for $NAKA holders.
- OKX Wallet is now integrated with GetGems, a leading NFT marketplace on The Open Network blockchain.
- Pixelcraft has rebranded its Arbitrum L3 gaming chain, Gotchichain, to Geist, a members-only blockchain designed for gaming.
- Confiction Labs has introduced Proof of Exposure, a verification system for NFTs, to combat bots in web3 gaming.
Onchain Data
- Tron’s recent bullish trend has been influenced by its range highs and liquidity pocket, which suggest a potential rejection near $0.14.
- Avalanche price is set to unlock a significant portion of its tokens on August 20, 2024.
- BONK price is expected to decline following a 23% drop, as investors’ pessimism and a bearish trend cloud the potential for reversal.
- dYdX price rebounds amid buying pressure, but a sell cluster threatens a breakout rally.
- Filecoin (FIL)’s price and market cap have fallen significantly from their 2024 highs.

Educational Guides and Tips from Mind the Block
- How DeFi Protocols are Addressing the Challenges of MEV?
- How to Stay Safe When Gambling With Crypto?
- Crypto Wallets: Your Guide to Secure and Smart Storage.
- What are Smart Contract platforms? Key Characteristics of Smart Contract Platforms.
- What Is Symmetric Key Cryptography? How Does Symmetric Encryption Work?
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