TL;DR Breakdown CoinGecko has introduced a new index, “Top Alleged Securities Coins,” that tracks crypto tokens viewed as likely securities by the SEC. The index was constructed using tokens deemed securities by the SEC in past lawsuits. The SEC’s recent lawsuits against crypto exchanges have increased the number of tokens it views as securities to 68. CoinGecko’s index lists 24 of these, covering at least $84.9 billion of the total crypto market capitalization. Description In a groundbreaking move, CoinGecko, a leading cryptocurrency data platform, has launched a new index that tracks the largest crypto tokens perceived as likely securities by the United States Securities and Exchange Commission (SEC). The index, dubbed “Top Alleged Securities Coins,” organizes the selection of crypto assets by market capitalization. Contents hide 1 The Emergence … Read more In a groundbreaking move, CoinGecko, a leading cryptocurrency data platform, has launched a new index that tracks the largest crypto tokens perceived as likely securities by the United States Securities and Exchange Commission (SEC). The index, dubbed “Top Alleged Securities Coins,” organizes the selection of crypto assets by…

TL;DR Breakdown PeckShield, a blockchain security firm, has released a report showing a notable decrease in NFT thefts in July 2023, with $1.73 million worth of NFTs stolen. Within just 165 minutes, half of the stolen NFTs were quickly sold across various marketplaces, with Blur.io accounting for the highest sales.  Meanwhile, July saw NFT trading volume decline by 29% and sales drop by 23%. Description PeckShield, a blockchain security firm, has released a report showing a notable decrease in NFT thefts in July 2023, with $1.73 million worth of NFTs stolen. The amount marked a 31% decline compared to the previous month and an astounding 89% drop from the peak in February when $16.2 million worth of NFTs were stolen. … Read more PeckShield, a blockchain security firm, has released a report showing a notable decrease in NFT thefts in July 2023, with $1.73 million worth of NFTs stolen. The amount marked a 31% decline compared to the previous month and an astounding 89% drop from the peak in February when $16.2 million worth of NFTs were stolen. In the…

TL;DR Breakdown Curve Finance is offering a public bounty for information about their identity that could lead to a conviction. The protocol has clarified that it will drop any further actions if the exploiter returns the stolen funds. Description Curve Finance, a decentralized finance (DeFi) protocol, is now rewarding individuals capable of identifying the individual behind the draining of more than $61 million from its pools on July 30 unless the hacker fully releases the funds. This bug bounty offer is open to anyone who can pinpoint the exploiter responsible for the incident in … Read more Curve Finance, a decentralized finance (DeFi) protocol, is now rewarding individuals capable of identifying the individual behind the draining of more than $61 million from its pools on July 30 unless the hacker fully releases the funds. This bug bounty offer is open to anyone who can pinpoint the exploiter responsible for the incident in a way leading to definitive legal repercussions.  Curve extends bounty offer to the public Curve Finance communicated the offer through an Ethereum transaction’s input data stating that the…

TL;DR Breakdown Uber reports its first-ever profit, signaling a potential shift in Silicon Valley’s approach. The 2010s saw Silicon Valley prioritizing aggressive growth, often at the cost of sustainability. Modern tech CEOs now emphasize sustainability and responsibility, though underlying incentives remain the same. Description The recent announcement of Uber’s first-ever profit was more than a milestone for the company – it was a potential signifier of a changing landscape in Silicon Valley. A shift in mindset from unbridled growth to fiscal responsibility and sustainability is on the horizon, but has Silicon Valley truly transitioned? From ‘cash burn’ to cash … Read more The recent announcement of Uber’s first-ever profit was more than a milestone for the company – it was a potential signifier of a changing landscape in Silicon Valley. A shift in mindset from unbridled growth to fiscal responsibility and sustainability is on the horizon, but has Silicon Valley truly transitioned? From ‘cash burn’ to cash flow: A Silicon Valley evolution Silicon Valley, during its boom in the 2010s, was notorious for an aggressive “grow at all costs” strategy….

TL;DR Breakdown Major U.S. banks lost $262 billion in deposits in a year; regional banks gained customers. Heartland Tri-State Bank collapsed on July 28th; assets transferred to Dream First Bank, N.A. Despite deposit loss, major banks like JPMorgan still report substantial profits. Description The U.S. banking industry is experiencing a significant transformation as major banks lose customer deposits while smaller regional banks gain traction. The Federal Deposit Insurance Corporation (FDIC) recently announced the failure of Heartland Tri-State Bank of Elkhart, Kansas, on July 28, with all customer deposits transferred to Dream First Bank, National Association (N.A.), also based … Read more The U.S. banking industry is experiencing a significant transformation as major banks lose customer deposits while smaller regional banks gain traction. The Federal Deposit Insurance Corporation (FDIC) recently announced the failure of Heartland Tri-State Bank of Elkhart, Kansas, on July 28, with all customer deposits transferred to Dream First Bank, National Association (N.A.), also based in Kansas. Major banks witness sharp decline in deposits The four largest banks in the U.S., namely JPMorgan Chase, Bank of America, Citigroup, and…

TL;DR Breakdown Fitch downgrades U.S. credit rating from AAA to AA+. Blackstone’s Stephen Schwarzman supports the downgrade, highlighting fiscal concerns. Unlike the 2011 S&P downgrade, economists are less alarmed this time. Reasons include projected fiscal decline, mounting debt, and congressional conflicts. Description Few can argue with Fitch’s decision to slash the U.S. rating from AAA to AA+. When a revered institution sounds the alarm over America’s swelling debt and wavering fiscal discipline, it’s time to sit up and listen. A decade has passed since Standard & Poor raised eyebrows by cutting its rating on U.S. debt. Yet, … Read more Few can argue with Fitch’s decision to slash the U.S. rating from AAA to AA+. When a revered institution sounds the alarm over America’s swelling debt and wavering fiscal discipline, it’s time to sit up and listen. A decade has passed since Standard & Poor raised eyebrows by cutting its rating on U.S. debt. Yet, this week, Fitch took a similar step, setting Wall Street abuzz. Echoes of 2011 Blackstone’s top dog, Stephen Schwarzman, isn’t among the naysayers. On CNBC’s…

TL;DR Breakdown The U.S. consumer price index (CPI) may rise by 0.2% for the second month in July. Yearly forecast for the Labor Department’s gauge shows a 4.8% increase. Overall CPI, which includes food and energy, is predicted to have an annual rise of 3.3%. Description As the sun rises on a new economic horizon, the Federal Reserve stands at a precarious intersection of expectations and reality. The looming U.S. inflation data has been casting shadows of doubt on the nation’s financial stability, but recent insights hint at a silver lining that could change the narrative. Though optimism has always been … Read more As the sun rises on a new economic horizon, the Federal Reserve stands at a precarious intersection of expectations and reality. The looming U.S. inflation data has been casting shadows of doubt on the nation’s financial stability, but recent insights hint at a silver lining that could change the narrative. Though optimism has always been a fleeting guest in our financial halls, there’s no denying the data has tongues wagging. Let’s dissect. Unpacking the core For…

TL;DR Breakdown NFT market sees declining artist incomes due to slashed royalties. Leading NFT platforms Blur and OpenSea reduce royalties to boost sales. Trading volumes dropped 95% since January 2022. Description Artists behind the once-thriving Non-Fungible Token (NFT) market are grappling with dwindling fortunes. The world of digital collectibles, which once soared to unimaginable heights, is now undergoing a massive shake-up. One might argue it’s the inevitable result of over-speculation and greed. Markets Nose-Dive, Creators Bear the Brunt Leading NFT platforms Blur and OpenSea, perhaps in … Read more Artists behind the once-thriving Non-Fungible Token (NFT) market are grappling with dwindling fortunes. The world of digital collectibles, which once soared to unimaginable heights, is now undergoing a massive shake-up. One might argue it’s the inevitable result of over-speculation and greed. Markets Nose-Dive, Creators Bear the Brunt Leading NFT platforms Blur and OpenSea, perhaps in desperation or sheer audacity, have opted for slashing the royalties handed out to artists. It’s a transparent bid to revitalize the sagging buying and selling activity. These platforms seem to be in a free-fall race, putting…

TL;DR Breakdown Curve Finance recovered all $61 million stolen in a recent hack. Alchemix’s pool lost $13.6 million, JPEGd’s pool $11.4 million, and Metronome’s pool $1.6 million in the attack. The recovery followed a bold bug bounty offer: 10% reward for returning 90% of stolen funds. Within a day of the bounty, funds started returning, with full restitution by August 5. Description The dark clouds looming over the crypto landscape brightened a shade as Curve Finance, the well-known decentralized finance platform, has experienced a surprising twist. Only days after a crippling hack wiped out a staggering $61 million, every single digital coin was recovered. But before you pop the champagne, let’s delve into the sequence of events … Read more The dark clouds looming over the crypto landscape brightened a shade as Curve Finance, the well-known decentralized finance platform, has experienced a surprising twist. Only days after a crippling hack wiped out a staggering $61 million, every single digital coin was recovered. But before you pop the champagne, let’s delve into the sequence of events that led to this unexpected…

TL;DR Breakdown Russia has announced that it will recognize digital currency issues by other countries country’s as its CBDC law takes effect. Bank of Russia in talks of integration its CBDC with other payment systems. Description In a significant development, the Russian government has officially acknowledged digital currencies issued by other nations, signaling an important step in the country’s evolving stance on cryptocurrency. Alongside this move, the country has also implemented a dedicated law that regulates its digital currency, the digital ruble. Reports from local crypto media outlets reveal that the … Read more In a significant development, the Russian government has officially acknowledged digital currencies issued by other nations, signaling an important step in the country’s evolving stance on cryptocurrency. Alongside this move, the country has also implemented a dedicated law that regulates its digital currency, the digital ruble. Reports from local crypto media outlets reveal that the country’s legal recognition of foreign digital currencies parallels the adoption of its digital ruble. Russia amends its federal law on currency control According to the official online portal for legal information,…