TL;DR Breakdown The FBI warns of criminals posing as NFT developers to lure victims through spoofed websites and phishing links. Victims have lost significant funds, including one losing $300,000 in NFTs to a counterfeit website and another losing $446,000 to a phishing link. The FBI provided guidelines to verify social media accounts and URLs, emphasizing vigilance and awareness in the NFT community. Description The United States Federal Bureau of Investigation (FBI) has sounded the alarm on an escalating cyber threat, cautioning the NFT community against malicious actors. However, these criminals impersonate genuine NFT developers, hijacking or mimicking their social media accounts to defraud victims. This deceitful tactic involves advertising fictitious NFT releases, capitalizing on inducing a sense of … Read more The United States Federal Bureau of Investigation (FBI) has sounded the alarm on an escalating cyber threat, cautioning the NFT community against malicious actors. However, these criminals impersonate genuine NFT developers, hijacking or mimicking their social media accounts to defraud victims. This deceitful tactic involves advertising fictitious NFT releases, capitalizing on inducing a sense of urgency through phrases like…

TL;DR Breakdown JP Morgan economists have reversed their previous claims about the U.S. economy while seeing steady economic growth. Navigating economic resilience and global realities. Description In a significant departure from their earlier forecasts, JPMorgan’s team of economists has abandoned predictions of an imminent U.S. recession. Leading the way is the bank’s Chief U.S. Economist, Michael Feroli, who exudes confidence that the American economy will chart a path of modest yet consistent growth for the remainder of this year and well … Read more In a significant departure from their earlier forecasts, JPMorgan’s team of economists has abandoned predictions of an imminent U.S. recession. Leading the way is the bank’s Chief U.S. Economist, Michael Feroli, who exudes confidence that the American economy will chart a path of modest yet consistent growth for the remainder of this year and well into 2024. Following in the footsteps of Bank of America, JPMorgan’s economists have discarded their earlier projections of an impending recession. JPMorgan economists reverse previous gloom prediction The bank, previously anticipating a downturn in 2023, now embraces a more optimistic viewpoint,…

TL;DR Breakdown Coinbase has recorded a slide in consumer transactions signaling challenges for the exchange. Regulatory scrutiny and adaptation of the exchange. Description In recent years, the cryptocurrency market has experienced both surges and setbacks, with Coinbase, the world’s second-largest cryptocurrency exchange by volume, finding itself at the center of these developments. The second quarter earnings report released by Coinbase has unveiled less-than-favorable results, signaling challenges for crypto enthusiasts and industry players alike. Transaction volumes for both consumers … Read more In recent years, the cryptocurrency market has experienced both surges and setbacks, with Coinbase, the world’s second-largest cryptocurrency exchange by volume, finding itself at the center of these developments. The second quarter earnings report released by Coinbase has unveiled less-than-favorable results, signaling challenges for crypto enthusiasts and industry players alike. Transaction volumes for both consumers and institutions have witnessed significant declines of 70% and 54%, respectively when compared to the same period in the previous year. Analysts attribute the performance to market factors This downward trend has been attributed to several factors, including the decrease in the overall market…

TL;DR Breakdown New York’s Attorney General, Letitia James, is investigating the Digital Currency Group’s (DCG) dealings with its bankrupt subsidiary, Genesis Global Capital. Former Genesis executives, including ex-Chief Risk Officer Michael Patchen, are being questioned. The focus is on the $575 million loan DCG received from Genesis, and a controversial $1.1 billion promissory note. Description The recent waves created by the cryptocurrency giant Digital Currency Group, famously known as DCG, have now hit the shores of New York’s justice system. The Empire State’s top law enforcement officer, Attorney General Letitia James, has now thrown her hat into the ring, joining the ongoing investigations into DCG’s dealings with its subsidiary, Genesis … Read more The recent waves created by the cryptocurrency giant Digital Currency Group, famously known as DCG, have now hit the shores of New York’s justice system. The Empire State’s top law enforcement officer, Attorney General Letitia James, has now thrown her hat into the ring, joining the ongoing investigations into DCG’s dealings with its subsidiary, Genesis Global Capital. The groundwork of the investigation On the receiving end of…

TL;DR Breakdown Base, an Ethereum L2 scaling layer, will launch its mainnet on August 9, allowing app deployment and opening bridges for selected tokens. “Onchain Summer,” a month-long festival featuring art, music, gaming, and advocacy, will celebrate Base’s launch with collaboration from major brands. Base is offering 100+ ETH in grants for activities related to art creation, application building, and crypto legislation advocacy. Description Base, the Ethereum L2 (layer 2) scaling layer backed by Coinbase, has revealed an important milestone in its mission to bring more users and builders onchain. Also, Base declared that it has opened bridging for selected Ethereum assets and will launch its mainnet on August 9, offering unrestricted access for developers to deploy their applications … Read more Base, the Ethereum L2 (layer 2) scaling layer backed by Coinbase, has revealed an important milestone in its mission to bring more users and builders onchain. Also, Base declared that it has opened bridging for selected Ethereum assets and will launch its mainnet on August 9, offering unrestricted access for developers to deploy their applications on the platform….

TL;DR Breakdown The New York Times and Harvard Law Professor Laurence Tribe challenge a gag order in the FTX owner’s legal case, citing First Amendment rights. Both argue the order restricts Bankman-Fried’s constitutional right to speak with media and limits media reporting. Description FTX owner Sam Bankman-Fried’s ongoing legal battle has garnered substantial attention from media giants and constitutional scholars, who have asked that the gag order be lifted. In anticipation of his October trial, Bankman-Fried, who faces charges related to the fall of FTX, has become the focal point of a significant First Amendment discussion. Legal and … Read more FTX owner Sam Bankman-Fried’s ongoing legal battle has garnered substantial attention from media giants and constitutional scholars, who have asked that the gag order be lifted. In anticipation of his October trial, Bankman-Fried, who faces charges related to the fall of FTX, has become the focal point of a significant First Amendment discussion. Legal and media luminaries defend Bankman-Fried’s right to speak Following a temporary gag order preventing Bankman-Fried from communicating with the press, significant figures from The New…

TL;DR Breakdown Meta’s Threads app is set to introduce search functionality and web accessibility features. Initially successful after launch, it experienced a significant decline in engagement over time. Mark Zuckerberg and Adam Mosseri plan to focus on improving the app’s fundamentals and user retention before pursuing growth and monetization. Description Mark Zuckerberg’s brainchild, Threads, is about to experience an upgrade. In an effort to combat dwindling user engagement and maximize its competitive edge, Meta is preparing to roll out search functionality and web accessibility features for the Twitter-like app. With Zuckerberg’s confidence and strategic foresight propelling the project forward, the world is watching to see … Read more Mark Zuckerberg’s brainchild, Threads, is about to experience an upgrade. In an effort to combat dwindling user engagement and maximize its competitive edge, Meta is preparing to roll out search functionality and web accessibility features for the Twitter-like app. With Zuckerberg’s confidence and strategic foresight propelling the project forward, the world is watching to see how Threads will evolve in the coming weeks. Bolstering Threads with improved functionality Released in July, Threads…

TL;DR Breakdown Guillaume Lambert, the founder of Panoptic, has warned against providing liquidity in UniV3, saying that liquidity providers are losing millions per year. Lambert said that he and his team at Panoptic are working on solutions to address these issues. Description In a recent Twitter thread, Guillaume Lambert, the founder of Panoptic, has warned against providing liquidity in UniV3, saying that liquidity providers(LPs) are losing millions per year. Lambert addressed concerns about potential losses and demystified the concepts of Impermanent Loss (IL), Loss-versus-rebalancing (LVR), Just-in-time (JIT) liquidity, and Miner Extractable Value (MEV). The Panoptic founder emphasized … Read more In a recent Twitter thread, Guillaume Lambert, the founder of Panoptic, has warned against providing liquidity in UniV3, saying that liquidity providers(LPs) are losing millions per year. Lambert addressed concerns about potential losses and demystified the concepts of Impermanent Loss (IL), Loss-versus-rebalancing (LVR), Just-in-time (JIT) liquidity, and Miner Extractable Value (MEV). The Panoptic founder emphasized that understanding LPing as an options trading approach could lead to successful outcomes for retail-level LPs. Lambert offers solutions to LPs Lambert explained that IL…

TL;DR Breakdown Latvian interest in crypto assets has seen a decline, as revealed by the Central Bank of Latvia, Latvijas Banka, due to concerns over fraud, insolvency, unwise investments, and increased regulation. Data shows a reduction in crypto asset purchases from 8% of the Latvian population in 2022 to 4% in early 2023, along with a decrease in transfers to crypto wallets from 51.8 million euros in 2022 to 10.7 million euros in Q1 2023. Despite lower levels of long-term savings and smaller retail crypto payments, crypto continues to dominate over traditional investments, signaling a shift in financial behavior and underscoring the impact of evolving market perceptions. Description In a recent study, the Central Bank of Latvia, Latvijas Banka, revealed that the country’s interest in crypto assets has been waning. The revelation, made in the 2023 “Financial Stability Report,” indicates that the crypto craze seems to be calming down within Latvia’s borders. It is important to know that the decline in interest has … Read more In a recent study, the Central Bank of Latvia, Latvijas Banka, revealed that the…

TL;DR Breakdown Prime Minister Pham Minh Chinh has expressed Vietnam’s objective to maintain its growth target of 6.5% for 2023. The government is making efforts to achieve an economic expansion of approximately 9% during the remaining period of the year. Description Prime Minister Pham Minh Chinh has expressed Vietnam’s objective to maintain its growth target of 6.5% for 2023. Additionally, the government is making efforts to achieve an economic expansion of approximately 9% during the remaining period of the year. They plan to focus on three key growth drivers: investment, consumption, and exports to achieve the … Read more Prime Minister Pham Minh Chinh has expressed Vietnam’s objective to maintain its growth target of 6.5% for 2023. Additionally, the government is making efforts to achieve an economic expansion of approximately 9% during the remaining period of the year. They plan to focus on three key growth drivers: investment, consumption, and exports to achieve the expansion. Additionally, Chinh emphasized the importance of balancing interest and exchange rates to support economic development. Vietnam’s gross domestic product growth is below the 6.5% target…