Issue #135

Regulation

1. Spot Ether ETF applications make major progress with 19b-4 forms approved by the SEC

-- Spot Ether ETF applicants include BlackRock, Fidelity, VanEck, Grayscale, Bitwise, Ark 21Shares, Invesco, and Franklin Templeton

-- Not yet cleared to trade because S-1 filings are still awaiting SEC approval

2. House of Representatives pass a bill banning the Federal Reserve from issuing a CBDC

-- Citing privacy concerns

-- Bill will now move to the Senate

3. Pump(.fun) exploiter and former employee arrested in the UK

-- Exploiter Jarett Dunn claims mental health issues and faces charges of theft and conspiracy

4. Legal investigation clears Sullivan & Cromwell in FTX bankruptcy

-- An investigation found that Sullivan & Cromwell LLP, the law firm overseeing the FTX bankruptcy, was unaware of the financial troubles and fraud that led to the exchange's collapse

Infrastructure

1. Ethereum researchers Justin Drake and Dankrad Feist join EigenLayer as (paid) Advisors

-- Raised concerns about potential conflicts of interest

-- Drake claims he will remain critical of EigenLayer and actively identify the risks associated with restaking

-- In response, the Ethereum Foundation is implementing a conflicts of interest policy

2. NEAR Protocol aiming to release a no-code dApp creation tool powered by generative AI

3. Casper Labs & IBM launch blockchain-based AI governance solution Prove AI on watsonx platform

-- The solution aims to de-risk AI initiatives and help them comply with regulations like the EU's AI Act

4. Web3 marketing infra startup Spindl launches on-chain ad network (source)

5. StarkWare reveals plans for zkEVM Kakarot, a zero-knowledge rollup compatible with Ethereum

-- Will help overcome barriers to developer adoption

6. Vitalik Buterin addresses threats to Ethereum in new blog post (source)

-- MEV: champions MEV minimization (e.g. encrypted mempools) and MEV quarantining (proposer-builder separation with inclusion lists)

-- Staking centralization: championing developments that make it easier to solo stake

7. Sei Foundation proposes v2 network upgrade to bring EVM compatibility (source)

-- Racing to release a parallelized EVM in competition with Monad Labs and others

8. Uniswap Labs and Across Protocol introduce ERC-7683, an Ethereum token standard for intent-based cross-chain interoperability (source)

Finance

1. Bitcoin and Ethereum ETPs debut on London Stock Exchange after FCA nod

2. Hong Kong is exploring the inclusion of Ether staking for spot ETH ETF issuers

-- This move contrasts with the US SEC's stance on staking services as a violation of securities laws

3. SEC-registered broker Prometheum launches Ether custody, treating ETH as security

4. Grayscale CEO Michael Sonnenshein is stepping down

-- Replaced by Goldman Sachs executive Peter Mintzberg effective August 15

5. Binance calls on projects to combat low float, high FDV trend (source)

-- Background: many VC projects have unsustainable token-economics, which is why they are struggling to attract retail liquidity and generate meaningful returns this cycle

6. FTX estate sells $2.6B worth of SOL tokens at $102 each to Pantera Capital and Figure Markets, implementing a 4-year vesting schedule

7. Crypto trading/custody solution Bakkt undergoes leadership shakeup, new CEO appointed

-- Board Member Andy Main will take over as President and CEO as current CEO Gavin Michael steps down to pursue other opportunities

Consumer

1. Kraken reassures no plans to delist USDT in Europe amid regulatory uncertainties

-- Meanwhile, OKX has stopped supporting crypto trading pairs with USDT for users in the European Union and the EEA

2. Worldcoin ordered to stop operations in Hong Kong

-- Hong Kong's Privacy Commissioner found Worldcoin's iris and facial scanning operations breached data privacy laws, ordering an immediate halt

3. Kalshi, a regulated platform in the US, introduces crypto prediction markets where users can bet on various cryptocurrency price outcomes in USD

4. Liquid restaking protocol Ether(.fi) plans Visa credit card

Security

1. Gala Games token GALA falls amid hack

-- An unknown party minted 5B GALA tokens - sold 600M and burned 4.4B

-- Hacker returned $23M worth of ether to Gala Games

2. Coinbase, Kraken, others form coalition to tackle 'pig butchering' scams

Research

1. White paper that birthed zk-proofs receives IEEE ‘Test of Time’ award (source)

2. An electro-optical accelerator for discrete TFHE (source)

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