Top crypto tweets of the day – August 31st

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• What early Coinbase Base activity tells us

  TL;DR Breakdown Coinbase Base’s layer-2 network launch sees exceptional DeFi activity. Early activity surpasses other layer-2 networks like Mantle and Linea. Unintended soft launch results in massive trader engagement. Description Coinbase Base, the latest layer-2 network in the crypto space, has erupted onto the scene, generating an unparalleled volume in DeFi activity and cross-chain bridge transactions. Its impressive onset gives rise to vital questions about the integrity of these numbers and the participants driving this explosive activity. Coinbase Base vs. its contemporaries Coinbase Base’s inauguration … Read more Coinbase Base, the latest layer-2 network in the crypto space, has erupted onto the scene, generating an unparalleled volume in DeFi activity and cross-chain bridge transactions. Its impressive onset gives rise to vital questions about the integrity of these numbers and the participants driving this explosive activity. Coinbase Base vs. its contemporaries Coinbase Base’s inauguration was not without its hitches. Interestingly, before the platform’s formal launch, traders discovered a loophole, allowing them to move substantial volume into the network. This unintentional soft launch quickly set Coinbase Base apart from its competitors. Recent…

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• 1 in 3 New York residents own cryptocurrencies – Reports

  TL;DR Breakdown Among the key findings highlighted within the Coinbase report is the fact that a notable 19% of New York’s residents, who took part in the study, currently hold cryptocurrencies.  The report discloses an impressive figure of 692 blockchain organizations and over 800 founders that are currently based in New York state.  Description The fourth edition of a comprehensive report series from Coinbase, a prominent cryptocurrency exchange, has just been released, putting the spotlight on New York as a prime example of cryptocurrency innovation at the state level within the United States. This report delves into the significant strides that New York has made in terms of embracing … Read more The fourth edition of a comprehensive report series from Coinbase, a prominent cryptocurrency exchange, has just been released, putting the spotlight on New York as a prime example of cryptocurrency innovation at the state level within the United States. This report delves into the significant strides that New York has made in terms of embracing and adopting cryptocurrencies, shedding light on pivotal milestones achieved in the state’s journey…

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• IMF adjusts 2023 global economic growth forecast to reflect 3%

  TL;DR Breakdown The International Monetary Fund (IMF) has raised its projection for global growth this year to 3%, 0.2% points more than its April prediction. IMF also predicts that global headline inflation may drop 6.8% this year from 8.7% in 2022. EMDEs growth outlook has remained stable, with growth of 4.0% in 2023 and 4.1% in 2024. Description The International Monetary Fund (IMF) has raised its projection for global growth this year marginally today, citing the strong economy, especially service sector activity in Q1 2023. The international lender did, however, also issue a warning over the ongoing issues that are dimming the medium-term outlook. IMF projects 3% global economic growth  The IMF predicted … Read more The International Monetary Fund (IMF) has raised its projection for global growth this year marginally today, citing the strong economy, especially service sector activity in Q1 2023. The international lender did, however, also issue a warning over the ongoing issues that are dimming the medium-term outlook. IMF projects 3% global economic growth  The IMF predicted 3% real GDP growth for the whole world this…

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• SEC goes after Quantstamp for $28M ICO – A Ripple replay?

  TL;DR Breakdown The United States SEC has shifted focus from Ripple to Quantstamp for offenses dating 6 years back. Quantstamp has agreed to settle charges with the Commission and will repay proceeds from its 2017 ICO that raised $28 million. The Commission’s decree stipulates the establishment of a “Fair Fund” to reimburse affected investors. Description In the wake of the recent legal dispute between the U.S. Securities and Exchange Commission and Ripple, the agency has now turned its attention to Quantstamp, a blockchain security company, and filed charges of alleged violations extending back six years.  The Commission asserts that Quantstamp enticed investors by promising that the token’s value would increase … Read more In the wake of the recent legal dispute between the U.S. Securities and Exchange Commission and Ripple, the agency has now turned its attention to Quantstamp, a blockchain security company, and filed charges of alleged violations extending back six years.  The Commission asserts that Quantstamp enticed investors by promising that the token’s value would increase proportionally to the project’s success. SEC will not stop coming after crypto…

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• Australia’s central bank reveals findings of its CBDC pilot test

  TL;DR Breakdown The Reserve Bank of Australia has revealed the key findings of its recently completed CBDC pilot test. Navigating legal and regulatory hurdles in CBDC implementation Description Australia’s journey towards a central bank digital currency (CBDC) has taken a significant step forward as the Reserve Bank of Australia (RBA), in collaboration with the Digital Finance Cooperative Research Centre (DFCRC), concluded its pilot program. The initiative explored the potential of introducing a digital version of the Australian Dollar (e-AUD) and shed light on … Read more Australia’s journey towards a central bank digital currency (CBDC) has taken a significant step forward as the Reserve Bank of Australia (RBA), in collaboration with the Digital Finance Cooperative Research Centre (DFCRC), concluded its pilot program. The initiative explored the potential of introducing a digital version of the Australian Dollar (e-AUD) and shed light on various use cases where a CBDC could provide substantial benefits. Highlights of the areas that the CBDC could enhance In an insightful report released on August 23rd, the Australian bank and DFCRC revealed their findings, which highlighted the versatile…

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