TL;DR Breakdown  Australian ETF industry hits record high, reaching A$150b ($102b) in H1 2023. Growth rate surpasses Betashares’ forecasts; the provider predicts these assets could hit A$160b by year end. About 70% of the industry’s growth was due to market appreciation; new money in H1 2023 totaled A$4.8b, slightly lower than H1 2022. Description A surge in the asset values of exchange-traded funds (ETFs) in Australia has taken the industry to new heights, breaching the $100 billion mark in the first half of this year. Defying earlier predictions and setting an all-time record, the ETF industry in the country has exhibited an explosive growth pace, dwarfing other local fund … Read more A surge in the asset values of exchange-traded funds (ETFs) in Australia has taken the industry to new heights, breaching the $100 billion mark in the first half of this year. Defying earlier predictions and setting an all-time record, the ETF industry in the country has exhibited an explosive growth pace, dwarfing other local fund products that have been battling substantial outflows. Accelerated growth amid market uncertainties Betashares,…

TL;DR Breakdown Delio expressed concerns over its ability to continue providing normal services to its clients due to an ongoing legal battle with depositors and the recent seizure of its assets by the Financial Services Commission (FSC). The seizure, which occurred on July 18, included all assets owned by customers and the company, as well as other cold wallets and ledgers. Description South Korean cryptocurrency lending firm, Delio, has found itself in a precarious situation as its assets were seized by a local financial regulator. In a blog post published on July 22 and translated from Korean, Delio expressed concerns over its ability to continue providing normal services to its clients due to an ongoing legal battle … Read more South Korean cryptocurrency lending firm, Delio, has found itself in a precarious situation as its assets were seized by a local financial regulator. In a blog post published on July 22 and translated from Korean, Delio expressed concerns over its ability to continue providing normal services to its clients due to an ongoing legal battle with depositors and the recent…

TL;DR Breakdown Sam Bankman-Fried, the former CEO of FTX, has accepted a “gag order” preventing him from making comments that could interfere with his trial. The defense lawyers are seeking equal treatment and want the same gag order to be applied to all parties and potential witnesses involved in the criminal trial. Description Sam Bankman-Fried, the former CEO of FTX, has accepted a “gag order” preventing him from making comments that could interfere with his trial. The order was requested by the U.S. government on July 20 after they accused Bankman-Fried of attempting to discredit a former business partner and witness, Caroline Ellison, in an interview with the … Read more Sam Bankman-Fried, the former CEO of FTX, has accepted a “gag order” preventing him from making comments that could interfere with his trial. The order was requested by the U.S. government on July 20 after they accused Bankman-Fried of attempting to discredit a former business partner and witness, Caroline Ellison, in an interview with the New York Times. In a letter dated July 22, Bankman-Fried’s lawyers from Cohen &…

TL;DR Breakdown Ripple’s General Counsel accuses the SEC of a “political power play” in its aggressive crackdown on the crypto industry, arguing that the regulator lacks jurisdiction over certain cryptocurrencies like XRP. The SEC’s lawsuit against Ripple has sparked uncertainty in the crypto market, with XRP’s classification as security remaining a central point of contention. Description In a heated exchange on social media, Ripple Labs Inc’s General Counsel, Stuart Alderoty, launched a scathing attack on the United States Securities and Exchange Commission (SEC) over its relentless efforts to crack down on the cryptocurrency ecosystem through what he perceives as a politically motivated “security war.” The dispute centers around the SEC’s classification … Read more In a heated exchange on social media, Ripple Labs Inc’s General Counsel, Stuart Alderoty, launched a scathing attack on the United States Securities and Exchange Commission (SEC) over its relentless efforts to crack down on the cryptocurrency ecosystem through what he perceives as a politically motivated “security war.” The dispute centers around the SEC’s classification of certain cryptocurrencies as securities, leading to legal battles and regulatory…

TL;DR Breakdown US Congressman Warren Davidson has called for the ban and criminalization of Central Bank Digital Currencies (CBDCs), expressing concerns over potential coercion and control. Davidson’s call came in response to a job posting by the Federal Reserve Bank of San Francisco for a “senior crypto architect” to work on a CBDC project, which he likened to “building the financial equivalent of the Death Star.” Despite the controversy, the Federal Reserve continues to research the technology for a potential digital dollar, and the debate over CBDCs is expected to intensify as more countries explore their implementation. Description In a recent development, U.S. Congressman Warren Davidson has taken a firm stance against central bank digital currencies (CBDCs), urging Congress to not only ban them but also criminalize any efforts to design, build, develop, test, or establish such a currency.  In a July 23 post on Twitter, the Republican Representative’s call to action comes … Read more In a recent development, U.S. Congressman Warren Davidson has taken a firm stance against central bank digital currencies (CBDCs), urging Congress to not only…

TL;DR Breakdown Worldcoin token, created by Sam Altman, to launch with ambitious plans to address online identity authentication and income inequality using advanced AI technologies. Unveiling the potential to reshape the crypto industry, Worldcoin’s innovative approach promises to be a game-changer in solving pressing global challenges. Description In a landmark move set to reshape the cryptocurrency landscape, the Worldcoin token, created in part by OpenAI CEO Sam Altman, is poised to make its debut on the global stage. Industry insiders have been buzzing with anticipation as the token aims to tackle two critical issues plaguing modern society: online identity authentication and income … Read more In a landmark move set to reshape the cryptocurrency landscape, the Worldcoin token, created in part by OpenAI CEO Sam Altman, is poised to make its debut on the global stage. Industry insiders have been buzzing with anticipation as the token aims to tackle two critical issues plaguing modern society: online identity authentication and income inequality. While the Worldcoin project has faced controversy in Silicon Valley due to its unconventional approach, recent revelations about leveraging…

TL;DR Breakdown The Federal Reserve Bank of San Francisco is actively hiring a crypto architect to research and develop a Central Bank Digital Currency (CBDC). The possibility of a CBDC has ignited a fierce debate, with opponents citing concerns about privacy and government control. Description The Federal Reserve Bank of San Francisco has made headlines with its recent job posting for a crypto architect to work on a Central Bank Digital Currency (CBDC) project. This move comes amidst the ongoing debate surrounding the potential introduction of a digital version of the U.S. dollar. As the Fed seeks to explore the … Read more The Federal Reserve Bank of San Francisco has made headlines with its recent job posting for a crypto architect to work on a Central Bank Digital Currency (CBDC) project. This move comes amidst the ongoing debate surrounding the potential introduction of a digital version of the U.S. dollar. As the Fed seeks to explore the benefits and costs of this emerging technology, it has formed a team of crypto developers to research and develop CBDC systems. However,…

TL;DR Breakdown Terraform Labs has continued to face an uphill task of getting back up as the accusations against its former CEO persist. The firm continues to carve a new path to success. Description Terraform Labs, the blockchain-focused company behind Terra (LUNA), finds itself facing significant challenges as it navigates through frequent accusations against its former CEO, Do Kwon. According to the newly appointed interim CEO, Chris Amani, these persistent allegations have been hindering the progress of various projects in development, presenting a “big hill to climb” for the … Read more Terraform Labs, the blockchain-focused company behind Terra (LUNA), finds itself facing significant challenges as it navigates through frequent accusations against its former CEO, Do Kwon. According to the newly appointed interim CEO, Chris Amani, these persistent allegations have been hindering the progress of various projects in development, presenting a “big hill to climb” for the company. Terraform Labs CEO complains about the setback The recent discussion about Terra’s future occurred during a Twitter Space event titled “A Terra Community Talk,” where Amani and several Terra employees delved into…

TL;DR Breakdown The BRICS leaders summit scheduled to hold in Johannesburg will not feature talks about the common currency. The countries will find ways to strengthen their currencies against the dollar. Description As the upcoming BRICS leaders’ summit approaches, the topic of a common currency is not on the agenda for discussion, according to South Africa’s diplomat in charge of BRICS relations, Anil Sooklal. South Africa, the current chair of the group, will be hosting the summit in Johannesburg from August 22 to 24. Instead, the nations, … Read more As the upcoming BRICS leaders’ summit approaches, the topic of a common currency is not on the agenda for discussion, according to South Africa’s diplomat in charge of BRICS relations, Anil Sooklal. South Africa, the current chair of the group, will be hosting the summit in Johannesburg from August 22 to 24. Instead, the nations, which include Brazil, Russia, India, China, and South Africa, will explore ways to use their national currencies and reduce reliance on the U.S. dollar. BRICS leaders summit to hold on August Sooklal clarified that there…

TL;DR Breakdown Experts at Santiment has predicted that second digital asset Ethereum could experience a rally that will push it above $2,000 next month. Positive indicators fuels confidence in Ethereum’s growth. Description In the ever-evolving world of cryptocurrencies, Ethereum (ETH) continues to hold its position as the second-largest digital asset by market capitalization. Although currently trading below $1,900 per unit, industry experts from Santiment foresee a bullish upturn on the horizon, with ETH potentially clawing its way back to the coveted $2,000 territory in the coming month. … Read more In the ever-evolving world of cryptocurrencies, Ethereum (ETH) continues to hold its position as the second-largest digital asset by market capitalization. Although currently trading below $1,900 per unit, industry experts from Santiment foresee a bullish upturn on the horizon, with ETH potentially clawing its way back to the coveted $2,000 territory in the coming month. Santiment believes Ethereum could break resistance soon Despite recent lackluster market performance, Santiment suggests that Ethereum is reveling in its “under the radar” status, often benefiting from patient investors who see long-term potential in the…