TL;DR Breakdown Curve Finance has terminated governance token rewards for certain liquidity pools. The affected pools include alETH+ETH, msETH-ETH, pETH-ETH, crvCRVETH, Arbitrum Tricrypto, and multibtc3CRV. It is important to note that the decision can be reversed in the future if the Curve DAO conducts a full vote. Description The Curve Finance lending protocol has recently taken significant steps to address the vulnerabilities and exploits it faced in July. In response to the July 30 Curve exploit and the July 6 Multichain exploit, the protocol has terminated governance token rewards for certain liquidity pools. This decision was made public on August 2 by a … Read more The Curve Finance lending protocol has recently taken significant steps to address the vulnerabilities and exploits it faced in July. In response to the July 30 Curve exploit and the July 6 Multichain exploit, the protocol has terminated governance token rewards for certain liquidity pools. This decision was made public on August 2 by a member of the protocol’s governing body, Gabriel Shapiro. The termination of rewards was carried out by the Curve Emergency…

TL;DR Breakdown Robinhood’s revenue from cryptocurrency transactions experienced an 18% decline, shrinking to $31 million.  Robinhood managed to record a net income of $25 million for the second quarter, translating to earnings per share (EPS) of $0.03. Robinhood also experienced growth in its total assets under custody, which rose by 13% to $89 billion during the last quarter.  Description Robinhood, the popular trading app, has released its second-quarter results, and it comes with a mix of both positive and negative news. Despite facing a drop in revenue in the second quarter of 2023, the company achieved profitability for the first time since going public. The quarterly report, which was made public on August 2, … Read more Robinhood, the popular trading app, has released its second-quarter results, and it comes with a mix of both positive and negative news. Despite facing a drop in revenue in the second quarter of 2023, the company achieved profitability for the first time since going public. The quarterly report, which was made public on August 2, revealed that Robinhood’s revenue from cryptocurrency transactions experienced…

TL;DR Breakdown Amid the ongoing market turmoils, investors in the United States of America have resulted to gold as a hedge to inflation in crypto’s stead. Fitch Ratings lowered the United States’ long-term foreign currency issuer default rating from AAA to AA+, citing “expected fiscal deterioration over the next three years.” The crypto market cap stands at $1.23 Trillion, a sign of an industry struggling to recover.  Currently, the gold global market cap sits around $13.114 T. Description Since the onset of Bitcoin and the years that followed, digital coins have prided themselves as a hedge to volatility, but gold has stood the economical test. Gold (XAU) rose on Wednesday as reports indicated that a perfect storm was brewing, causing the U.S. Dollar, Treasury yields, and Asian equities to fall. What does Fitch … Read more Since the onset of Bitcoin and the years that followed, digital coins have prided themselves as a hedge to volatility, but gold has stood the economical test. Gold (XAU) rose on Wednesday as reports indicated that a perfect storm was brewing, causing the U.S….

TL;DR Breakdown After a week of the crypto Worldcoin craze, the Kenyan government has halted WLD operations in the country per a letter signed by Kithure Kindiki -the Cabinet Secretary of Interior and Administration of National Government.  The prospects of approving a spot Bitcoin exchange-traded fund (ETF) in the US have increased to 65% from 1% a few months ago. Reports indicate that Worldcoin Execs intend to allow governments to use their collected data – is this a corporate snitch affair? Description Good morning Americans – too early to catch up on the crypto industry? I don’t think so. While the American markets were asleep – here is what the rest of the world was up and about doing. To start off – The Kenyan government is not having the tale-benefit talk about Worldcoin – the coin … Read more Good morning Americans – too early to catch up on the crypto industry? I don’t think so. While the American markets were asleep – here is what the rest of the world was up and about doing. To start off…

TL;DR Breakdown Ordinals floated its nonprofit organization to advance inscriptions on the Bitcoin blockchain. Nurturing growth and tax advantages. Description Ordinals, a platform renowned for its pioneering protocol enabling the association of NFT-like assets with the Bitcoin blockchain, has taken a significant step forward by establishing a nonprofit organization. This move comes as the total number of inscriptions using the protocol surpasses 21 million, indicating growing interest and engagement. Ordinals inscriptions surpass 21 million Introduced … Read more Ordinals, a platform renowned for its pioneering protocol enabling the association of NFT-like assets with the Bitcoin blockchain, has taken a significant step forward by establishing a nonprofit organization. This move comes as the total number of inscriptions using the protocol surpasses 21 million, indicating growing interest and engagement. Ordinals inscriptions surpass 21 million Introduced earlier this year by developer Casey Rodarmor, Ordinals quickly gained prominence as a hub of innovation centered around Bitcoin. The protocol empowers individuals to attach data to a single satoshi, a unit equivalent to 1/100,000,000 of a complete Bitcoin. This data could encompass art, profile pictures, interactive…

TL;DR Breakdown X has appealed against an Indian court ruling that fined them for not complying with content removal orders, fearing it may lead to increased censorship. The legal battle is entangled with Elon Musk’s business interests in India, including proposals for Tesla and SpaceX. The case’s outcome could set a global precedent concerning digital freedom, government censorship, and the right to free speech online. Description The battle between X (formerly known as Twitter) and the Indian judiciary escalates as the social media giant continues to challenge the court’s ruling. A fine, content censorship, and a complex intersection of business and politics have woven a tale that mirrors a broader struggle for free speech in the online age. A struggle against … Read more The battle between X (formerly known as Twitter) and the Indian judiciary escalates as the social media giant continues to challenge the court’s ruling. A fine, content censorship, and a complex intersection of business and politics have woven a tale that mirrors a broader struggle for free speech in the online age. A struggle against censorship…

TL;DR Breakdown Despite China’s indications of supporting the economy during recovery, US-listed Chinese ETF holders have largely ignored this commitment, with minimal inflows to most ETFs. Investors’ reactions reflect uncertainty and mistrust, with 12 ETFs experiencing outflows, and the second-highest inflow going to an ETF betting against the Chinese market. Description Despite China’s recent indications of bolstering economic support during the nation’s strenuous recovery from the pandemic, investors in US-listed Chinese ETFs have largely disregarded the pledge, reacting with indifference. Information from VettaFi’s database illustrates this unexpected response, as only one ETF attracted significant inflows in the wake of the Chinese government’s announcement. What should have … Read more Despite China’s recent indications of bolstering economic support during the nation’s strenuous recovery from the pandemic, investors in US-listed Chinese ETFs have largely disregarded the pledge, reacting with indifference. Information from VettaFi’s database illustrates this unexpected response, as only one ETF attracted significant inflows in the wake of the Chinese government’s announcement. What should have stirred excitement in the markets appears to have done little more than prompt cautious and tactical…

TL;DR Breakdown Trump is facing at least six separate legal battles, both criminal and civil. Criminal charges include trying to prevent Biden’s election certification and retaining classified documents. Civil cases range from a “hush money” case to false asset valuations and battery and defamation charges. Description Navigating the legal landscape surrounding Donald Trump seems as complex and intricate as the political life of the former president himself. A series of legal battles are underway that entangle Trump in controversies over his conduct, classified document handling, and matters related to the 2020 presidential election. With at least six separate legal skirmishes, there’s … Read more Navigating the legal landscape surrounding Donald Trump seems as complex and intricate as the political life of the former president himself. A series of legal battles are underway that entangle Trump in controversies over his conduct, classified document handling, and matters related to the 2020 presidential election. With at least six separate legal skirmishes, there’s a tapestry of accusations to unravel. But the common thread among all these charges is Trump’s dismissal of them as merely…

TL;DR Breakdown Abracadabra Money has proposed to raise the interest rate on its existing loans by 200% to address potential risks related to its exposure to Curve (CRV). The proposal has elicited diverse reactions from the crypto community, with Frax Finance executive Drake Evans referring to it as a “governance rug.” Description Abracadabra Money, a cross-blockchain lending platform, has proposed to raise the interest rate on its existing loans to address potential risks related to its exposure to Curve (CRV). This proposal has sparked varied responses within the community, with some expressing concerns about altering loan conditions while others view it as a strategic move to mitigate … Read more Abracadabra Money, a cross-blockchain lending platform, has proposed to raise the interest rate on its existing loans to address potential risks related to its exposure to Curve (CRV). This proposal has sparked varied responses within the community, with some expressing concerns about altering loan conditions while others view it as a strategic move to mitigate CRV exposure. Abracadabra loan interest rate could reach 200% Abracadabra protocol enables users to generate…

TL;DR Breakdown Ripple’s XRP Markets Report for Q2 2023 discloses increased XRP holdings but reflects a drop in on-ledger escrow. The report becomes a point of contention in the legal battle between Ripple and the SEC. Ripple CEO Brad Garlinghouse criticizes the SEC for using the report as evidence in court. Description Ripple has recently released its XRP Markets Report for Q2, 2023, aiming to enhance industry transparency by disclosing its XRP reserves and on-ledger escrow activity. The report revealed that Ripple’s total XRP holdings as of the end of the third quarter were 5,551,119,094, showing an increase of approximately 45 million from the previous quarter. However, … Read more Ripple has recently released its XRP Markets Report for Q2, 2023, aiming to enhance industry transparency by disclosing its XRP reserves and on-ledger escrow activity. The report revealed that Ripple’s total XRP holdings as of the end of the third quarter were 5,551,119,094, showing an increase of approximately 45 million from the previous quarter. However, demand patterns were reflected in a drop of about 1 billion XRP from the on-ledger…