Issue #147

Regulation

1. Circle snags 1st stablecoin license under EU's new MiCA regulations

-- Circle is choosing France for its European HQ

-- This is coming at a time when more and more crypto exchanges are discontinuing support for Tether in the EU, citing MiCA compliance needs

2. Binance in more regulatory trouble in the US

-- Charges against Binance by the SEC ordered to proceed by a federal judge, including those related to BNB's initial coin offering, ongoing token sales, and Binance's staking program

3. Crypto-friendly Silvergate Bank agrees to $63M fine for failing to maintain an effective anti-money laundering program and providing misleading information to investors re: FTX involvement

4. Paxos approved to issue stablecoins in Singapore

5. The Basel Committee on Banking Supervision has approved a disclosure framework for banks' exposure to crypto assets

-- Must be implemented by banks by the beginning of 2026

6. Multicoin Capital pledges up to $1M to back Senate candidates supporting the crypto industry

-- Several other VC funds have already contributed to the cause by funding Stand With Crypto's PAC

Infrastructure

1. Polkadot’s $245M treasury would last 2 years at current spending rate

-- Spent $87M worth of DOT tokens in the first half of 2024, with marketing being the largest expense

2. F2Pool: with Bitcoin prices dropping below $58k, only mining rigs more efficient than 23 W/T remain profitable

3. L1 blockchain Sui introduces an object-centric model using the Move programming language

Finance

1. Despite a 7% drop in bitcoin's price in June, spot bitcoin ETFs received $790M in net inflows

-- BlackRock's iShares Bitcoin Trust led in inflows

2. The launch of US spot Ether ETFs postponed to mid-July or later as the SEC requests resubmissions of S-1 forms from issuers by July 8

-- SEC Chair Gensler indicating a smooth progression but suggesting a listing on stock exchanges might not happen until September 2024

3. The US Marshals Service chooses Coinbase Prime to provide custody/trading services for digital assets seized as part of asset forfeiture responsibilities

4. Abra launches treasury service for corporates that want crypto exposure

5. DWF Labs launches $20M fund for web3 projects in Chinese-speaking regions

Consumer

1. Sony to restart Japanese crypto exchange Whalefin, which it purchased from Amber Group in 2023

-- The exchange will be rebranded as S.BLOX under Sony's unit, Quetta Web

2. L1 blockchain Aptos introduces Aptos Connect

-- A keyless wallet app allowing users to login with Google without the need for hardware security modules or passkeys

-- The app leverages the OIDC standard and zero-knowledge proofs to link social logins to blockchain accounts in a privacy-preserving manner

3. In response to economic turmoil, crypto remittances to Venezuela soared, accounting for 9% of the $5.4B sent in 2023

Security

1. Hacked Bitcoin exchange Mt Gox begins customer repayments in Bitcoin and Bitcoin Cash

-- Has led to immense sell pressure

2. Sydney Sweeney's Twitter account hacked to promote the Solana-based memecoin SWEENEY

-- Resulted in $10M in trading volume within hours before crashing by 90%

-- The hacker, linked to other celebrity account breaches, hinted at targeting a "more popular" figure next

3. Rapper Sexxy Red may have orchestrated a pump-and-dump via her memecoin

-- Addresses linked to the rapper's team quickly bought over 90% of the supply at token launch, per ZachXBT

4. Omnichain tokenization protocol Holograph faces exploit by former contractor

-- Attacked minted $14.4M worth of tokens

5. Decentralized AI infra provider Bittensor halts network after $8M theft

-- The theft is potentially the result of private key leakage

Research

1. A smart contract programming language that provides compositional security (source)

-- Includes protection against reentrancy attacks, confused deputy attacks, and improper error handling

2. A scheme to manage conflicting transactions on Hyperledger Fabric (source)

3. Zero-trust authentication in multi-UAV wireless networks (source)

-- Use of blockchain to provide immutable storage for UAV authentication details

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