TL;DR Breakdown Binance has announced the termination of the partnership that it signed with the Argentine national team. The firm continues to fight regulatory challenges amid other issues. Description In a surprising move, Binance, one of the world’s largest cryptocurrency exchanges, has terminated its five-year partnership with the Argentine soccer association (AFA) after just one year. The decision comes as a result of a breach of contract by the AFA, according to a statement posted on the firm’s Spanish-language Twitter account on Monday. Binance … Read more In a surprising move, Binance, one of the world’s largest cryptocurrency exchanges, has terminated its five-year partnership with the Argentine soccer association (AFA) after just one year. The decision comes as a result of a breach of contract by the AFA, according to a statement posted on the firm’s Spanish-language Twitter account on Monday. Binance said the association breached the terms of the deal The partnership, which began in January 2022, initially seemed promising as the exchange became the main sponsor of Argentina’s national soccer team and the naming sponsor of its national…

TL;DR Breakdown Congressman Ritchie Torres has urged the SEC to review its strict approach toward cryptocurrencies. Torres criticized the SEC’s use of the Howey Test and suggested digital assets could be part of securities contracts. He also highlighted the SEC’s lack of clear communication with the industry, stressing the current regulatory uncertainty. Description US Congressman Ritchie Torres has written a scathing letter to the SEC Chair, Gary Gensler, urging SEC to stop its assault on cryptocurrencies. In the aftermath of a decisive lawsuit loss against Ripple Labs, wherein the court ruled XRP was not a security, Torres questioned the SEC’s continued, harsh scrutiny of digital assets in one … Read more US Congressman Ritchie Torres has written a scathing letter to the SEC Chair, Gary Gensler, urging SEC to stop its assault on cryptocurrencies. In the aftermath of a decisive lawsuit loss against Ripple Labs, wherein the court ruled XRP was not a security, Torres questioned the SEC’s continued, harsh scrutiny of digital assets in one of his recent letters.  The Bronx representative criticized the SEC’s usage of the Howey…

TL;DR Breakdown The Celo team has announced the transition from an independent blockchain to a layer-2 solution on Ethereum. The team promises enhanced scalability and interoperability. Description C Labs, the development team behind the Celo blockchain, has unveiled a proposal to transition from being an independent layer-1 blockchain to a layer-2 solution on Ethereum. The decision was announced on Twitter, following extensive research and discussions with members of both communities. The Celo team will release the proposal by July 22 A preliminary … Read more C Labs, the development team behind the Celo blockchain, has unveiled a proposal to transition from being an independent layer-1 blockchain to a layer-2 solution on Ethereum. The decision was announced on Twitter, following extensive research and discussions with members of both communities. The Celo team will release the proposal by July 22 A preliminary on-chain governance proposal, referred to as a “temperature check,” is expected to be released soon for the community to vote on, possibly as early as Saturday, July 22. Under the proposed migration plan, the platform would leverage Optimism’s OP Stack,…

TL;DR Breakdown The G20 has backed the Financial Stability Board’s (FSB) recommendations for crypto activities and global stablecoin regulations. The FSB’s rules serve global minimum standards for the growing crypto sector, emphasizing robust governance and risk management. The G20 recognized the potential of Central Bank Digital Currencies (CBDCs) in improving cross-border transactions. Description Nirmala Sitharaman, the Finance Minister of India and the current G20 president, announced on Tuesday that the Group of Twenty (G20) has endorsed the recommendations from the Financial Stability Board (FSB) concerning crypto asset activities and global stablecoin arrangements. This decisive nod from the G20 comes after an eventful year in the crypto sphere marked … Read more Nirmala Sitharaman, the Finance Minister of India and the current G20 president, announced on Tuesday that the Group of Twenty (G20) has endorsed the recommendations from the Financial Stability Board (FSB) concerning crypto asset activities and global stablecoin arrangements. This decisive nod from the G20 comes after an eventful year in the crypto sphere marked by scandals and allegations of misconduct, prompting the FSB to call for stricter regulations…

TL;DR Breakdown Past diplomatic efforts between the US and China have failed to address escalating conflicts. The focus of the US-China relationship has shifted from economics and trade to defense and security, increasing potential for conflict. Current leader-to-leader engagement is ineffective in managing these modern challenges. Description In a climate of strained diplomacy, a call-to-action arises: the US and China must revisit their current strategies and find innovative ways to mend their tense relationship. As two of the world’s largest superpowers, the trajectory of their alliance impacts the entire global stage. Recent attempts at restoring dialogue, through the visits of the US … Read more In a climate of strained diplomacy, a call-to-action arises: the US and China must revisit their current strategies and find innovative ways to mend their tense relationship. As two of the world’s largest superpowers, the trajectory of their alliance impacts the entire global stage. Recent attempts at restoring dialogue, through the visits of the US Treasury Secretary Janet Yellen and Secretary of State Antony Blinken to Beijing, did little to alleviate tensions. A more decisive…

TL;DR Breakdown Microsoft faces an EU investigation over alleged unfair bundling of Teams and Office software. The tech giant proposed concessions deemed insufficient by the EU, which demands global implementation. Potential formal charges against the company may emerge by fall. Description Microsoft is once again under the microscope, this time by the European Union (EU), for allegations of unfair bundling practices related to its Teams video conferencing application and Office software. The impending investigation, anticipated to commence next week, is set to be the first against the tech behemoth in over a decade, further escalating tensions … Read more Microsoft is once again under the microscope, this time by the European Union (EU), for allegations of unfair bundling practices related to its Teams video conferencing application and Office software. The impending investigation, anticipated to commence next week, is set to be the first against the tech behemoth in over a decade, further escalating tensions within the rapidly evolving digital landscape. A bundle of troubles Accusations have been mounting against Microsoft for its alleged abuse of its dominant market position. The…

TL;DR Breakdown Economist Paul Krugman acknowledges a global trend of de-dollarization, but asserts the U.S. dollar’s dominance is stable. The drop in dollar’s share in central bank reserves is due to diversification into smaller currencies, not to a shift towards significant rivals. Despite China’s economic power, Krugman doubts the Chinese yuan will replace the U.S. dollar due to factors like limited use of Mandarin and China’s capital controls. Description With the shifting economic currents stirring the debate on the future of the U.S. dollar, one question persistently surfaces: Will the Chinese yuan eventually assume the dollar’s throne? While the notion of the dollar’s downfall continues to gain traction, celebrated economist and Nobel laureate, Paul Krugman, proposes a comprehensive examination of this matter. The persistence … Read more With the shifting economic currents stirring the debate on the future of the U.S. dollar, one question persistently surfaces: Will the Chinese yuan eventually assume the dollar’s throne? While the notion of the dollar’s downfall continues to gain traction, celebrated economist and Nobel laureate, Paul Krugman, proposes a comprehensive examination of this matter….

TL;DR Breakdown Instagram Threads, Mark Zuckerberg’s Twitter alternative, is forced to impose rate limits due to increasing spam attacks and bot issues, sparking ridicule from Twitter CEO Elon Musk. User engagement on Instagram Threads has significantly decreased just one week after its launch, with the number of daily active users dropping by 40% and average daily usage time falling considerably. Both Instagram Threads and Twitter have grappled with implementing rate limits, spotlighting the difficulties faced by social media giants when introducing new platforms and the need for effective strategies against bot and spam issues. Description In the heated battle for social media supremacy, Mark Zuckerberg’s recent venture, Instagram Threads, has experienced growing pains with spam attacks and bot infiltrations. The abrupt issues have prompted the introduction of rate limits to control traffic, prompting ridicule from Twitter CEO, Elon Musk. This situation has highlighted the intricate challenges that tech giants face … Read more In the heated battle for social media supremacy, Mark Zuckerberg’s recent venture, Instagram Threads, has experienced growing pains with spam attacks and bot infiltrations. The abrupt issues…

TL;DR Breakdown Coinbase CEO Brian Armstrong to meet House Democrats for a confidential digital-asset legislation and regulations discussion. New Democrat Coalition’s involvement signifies recognition of the importance of digital assets and blockchain technology. Recent court ruling favoring Ripple boosts Coinbase’s stock and highlights partial success for the crypto sector. Description In an exclusive development reported by Bloomberg on Monday, it was revealed that Brian Armstrong, the CEO of Coinbase, will participate in a confidential meeting with House Democrats on Wednesday morning. This closed-door gathering will include members of the New Democrat Coalition, an influential group comprising more than a hundred Democrats known for their commitment … Read more In an exclusive development reported by Bloomberg on Monday, it was revealed that Brian Armstrong, the CEO of Coinbase, will participate in a confidential meeting with House Democrats on Wednesday morning. This closed-door gathering will include members of the New Democrat Coalition, an influential group comprising more than a hundred Democrats known for their commitment to fostering economic growth, innovation, and fiscal responsibility. The forthcoming summit aims to delve into various crucial…

TL;DR Breakdown Cathie Wood’s ARK Invest has sold a substantial part of its Coinbase holdings as the cryptocurrency exchange’s stock reaches near one-year highs, continuing a trend of liquidating Coinbase stocks during rallies. Wood remains optimistic about Coinbase despite the sell-off, citing a recent court ruling favoring Ripple as a positive sign for crypto exchanges. However, Berenberg Capital Markets analysts warn that regulatory issues are far from resolved for crypto exchanges, highlighting potential vulnerability for products like Coinbase Earn to be classified as securities. Description ARK Invest, the growth-focused fund steered by Cathie Wood, continues to offload shares of the crypto exchange giant, Coinbase, even as the stock soars to just shy of its one-year peak at $105.55. A recent disclosure reveals that ARK has shed 248,838 shares of Coinbase (COIN), worth just over $26 million. This follows ARK’s earlier … Read more ARK Invest, the growth-focused fund steered by Cathie Wood, continues to offload shares of the crypto exchange giant, Coinbase, even as the stock soars to just shy of its one-year peak at $105.55. A recent disclosure reveals…