Mind The Block: Your Weekly Dose of Web3 News and Insights
Mind The Block Headlines This Week
Table of Contents
- Bitcoin drops 15%, causing $1B in liquidations
- Mastercard partners with Pera Wallet on Algorand
- Saudi Arabia leads MENA venture investments
- Morpho raises $50M led by Ribbit Capital
- Cronos, Revolut launch crypto education course
- Manchester United launches Fantasy United game
- Arbitrum (ARB) hits an all-time low of $0.44
- Where are all the stablecoins?
News
- Bitcoin’s price has plummeted by over 15%, causing over $1 billion in cryptocurrency derivatives liquidations with in 24 hours.
- Telegram has introduced a Web3 upgrade to its built-in browser, enhancing navigation and content preservation.
- Next Generation and Decta are partnering to launch a Euro-pegged stablecoin, EURT.
- DE.Fi World 2024 is a global decentralized finance event in Bangkok, Thailand, attracting experts, innovators, and enthusiasts to explore the future of finance.
- Stakin and Stroom Network have partnered to enhance BTC liquid staking solutions for scalability and security.
- Web3 Wallet Best Wallet has launched an airdrop campaign to earn its powerful $BEST token through simple quests.
- Hamster Kombat (HMSTR) will launch on August 5, 2024, on KuCoin PreMarket.
- CoinStats has partnered with FIO Protocol to provide free Web3 handles for its users.
- Dogecoin Core 1.14.8 is set to enhance code reproducibility, enhancing the security of the cryptocurrency.
- California’s DMV has digitized 42 million car titles using Avalanche blockchain and crypto infrastructure firm Oxhead Alpha.
- Router Protocol has partnered with OpenWorldSwap, a decentralized exchange that integrates non-crypto games & real-world assets.
- NetMind AI has partnered with Marlin Protocol to introduce advanced verifiable computing protocols to its ecosystem.
Extras By Mind The Block
- CARV has partnered with Binance Web3 Wallet to launch a campaign integrating user data to enhance gaming and AI.
- Amber Group has criticized ZKX protocol’s sudden closure, citing lack of transparency and accountability.
- Caitlyn Jenner is launching an Olympic gold medal-inspired token on Ethereum layer-2 Base, available starting August 8.
- Lyncoin, an innovative peer-to-peer cryptocurrency, is a decentralized financial project launched by Flex Labs.
- SoonVerse has partnered with Zesh, an AI-powered SocialFi suite, to foster community growth and engagement.
- Zircuit has launched Mainnet Phase 1, allowing users to bridge funds to its Mainnet and interact with various projects.
- TR.ENERGY offers secure TRX staking from 18% to 22% per annum, energy delegation, and AML verification for BTC, ETH, and TRX.
- Rakuten Wallet and Caliverse are forming a strategic partnership in the Web3 space.
- Canza Finance has partnered with stablecoin issuer WSPN to offer secure and efficient financial solutions to users in Africa.
- Roam Network is integrating Peaq’s layer-1 blockchain for DePIN to improve mobile network performance assessment.
- WOO X has partnered with tetherMax, a top cryptocurrency cashback platform, to offer unique benefits to referral users.
Major Companies Making Moves
- Mastercard is partnering with Pera Wallet on Algorand to enable seamless on-chain transactions via Immersve.
- Ripple is set to launch its stablecoin, Ripple USD (RLUSD), on the XRP Ledger and Ethereum blockchains.
- Coinbase has appointed Paul D. Clement, a former U.S. solicitor general, to its board of directors.
- Circle will discontinue USDC support on the Flow blockchain effective September 3, 2024.
- Binance Labs has announced the second batch of Web3 projects for Incubation Season 7.
- BingX has launched MATR1X, a platform that merges Web3 gaming, esports, blockchain, and AI technologies.
Government, SEC & Regulation
- AMF has started accepting crypto service provider applications under the European Markets in Crypto-Assets (MiCA) Regulation.
- Saudi Arabia is emerging as a top venture capital investment destination in the Middle East and North Africa.
- The UK’s Law Commission has proposed a property category for crypto assets, addressing legal gaps.
- Russia’s Federation Council Speaker, Valentina Matviyenko, has announced that the BRICS economic bloc is progressing towards an independent digital payment platform, BRICS Bridge.
- South Korean prosecutors are set to trial a crypto market maker, Park, who is believed to have masterminded a $59.6 million scam coin fraud.
- Australian Federal Police has discovered over 2,000 compromised cryptocurrency wallets during a global operation targeting scammers.
- Google Pay, Amazon Pay, and Walmart-backed Phonepe are reportedly seeking to join India’s central bank digital currency (CBDC) initiative.
- India’s Directorate General of GST Intelligence (DGGI) has demanded $86 million in GST from Binance.
- El Salvador’s proposal to use crypto for trade settlements with Russia could potentially encourage other nations to adopt this approach.
- Xapo Bank has extended its banking license to the UK, becoming the first bank to offer interest-bearing accounts for both bitcoin and fiat currencies.
- Nigeria detains American Binance executive Tigran Gambaryan over a dispute with the crypto company.
- Paraguay’s National Power Administration (ANDE) President, Felix Sosa, has denied reports of a cryptocurrency mining company exodus.
Raises & Major Investments rounds
- DeFi lending protocol Morpho raised $50M in a Strategic funding round led by Ribbit Capital.
- DePIN project focused on energy distribution Daylight Energy raised $9M in a Series A funding round led by Andreessen Horowitz.
- Cartridge has secured $7.5 million in a Series A funding round led by BITKRAFT Ventures.
- Icebreaker has secured $5 million in seed funding from CoinFund and Accomplice, Anagram, and Legion Capital.
- Real-world asset startup Zoth has raised $4 million to launch its Tokenized Liquid Note.
Trends & Narrative
- Cronos and Revolut have partnered to launch a cryptocurrency education course, the Cronos Learn course, on the Revolut app.
- KAYAK for Business is a new corporate travel solution that integrates blockchain technology and direct airline connections.
- SmartLedger Chairman and CERTIHASH CEO Bryan Daugherty discusses cybersecurity and blockchain’s potential to enhance it.
- Blockchain technology can help address financial inequalities across geographical and cultural lines.
- David Case, the architect of 1Satoshi Ordinals, discusses the unique features of the protocol and its integration with sCrypt.
- Machine data, a valuable asset, can be transformed into digital tokens using blockchain technology.
NFTs, Gaming, Metaverse
- Manchester United has launched web3 fantasy soccer game Fantasy United, featuring first-team male players and collectible NFTs.
- BC.GAME and Cloud9 Esports have expanded their esports portfolio with the acquisition of Dota 2 esports team Entity.
- Revived Overworld, a web3 gaming platform, launched its first collection of Genesis NFTs on July 31.
- Animoca Brands has partnered with Revolving Games to build a scalable gaming economy using Web3 technology.
- The Otherworld: Solo Leveling event in The Sandbox offers a 65k $SAND prize pool for players to earn rewards.
- GamesBeat is partnering with Lil Snack to launch Angelic, a strategy RPG set in a dark sci-fi universe on the Saga blockchain.
- Doodles and Arizona are partnering to offer a VIP trip to the ‘Dullsville and the Doodleverse preview event in Toronto on September 7, 2024.
- Horizon has integrated web3 tech solution Sequence into ApeCoin DAO’s Arbitrum L3 ApeChain.
Onchain Data
- Arbitrum (ARB) has hit an all-time low of $0.44 due to a broader market decline.
- The Solana price has experienced a significant drop, with on-chain volume dropping by 30%.
- Aptos experienced a 27% surge in transactions last week, reaching 14.6 million, with total unique users above 20 million.
- Cardano’s price has plummeted by 16% in the past 24 hours, reaching $0.3005 on a day when the crypto market lost 15%.
- Chainlink experienced a 38% drop this week, breaking past major support zones.
Educational Guides and Tips from Mind the Block
- How malicious hardware wallet firmware can leak your Bitcoin seed phrase.
- Exchange-Traded Product (ETP) vs. Exchange-Traded Fund (ETF).
- What Is a Carry Trade and What Does It Have to Do With the Bitcoin Crash?
- Where are all the stablecoins? Distribution across blockchains.
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