TL;DR Breakdown Digital identity platform Unstoppable Domains expands its Web3 services, adding support for .eth domain endings from the Ethereum Name Service, simplifying user experience with Ethereum wallet addresses. The company is rolling out additional features to ease the ownership of .eth domains, including auto-renewal for Ethereum-based domains and a secure digital vault for buyers’ domains prior to wallet connection, alongside support for both traditional and digital payment methods. Unstoppable Domains, with over 6.3 million domains registered with them and ENS, is working towards developing industry standards through the Web3 Domain Alliance, seeking to shape the future of digital identity in the crypto space. Description In a significant move to bolster the Web3 space, digital identity platform Unstoppable Domains has announced support for Ethereum Name Service (ENS) domain names. However, the integration allows users to register a simpler name, like “me.eth,” in place of lengthy wallet addresses, according to company sources. This latest development expands Unstoppable Domains’ portfolio of Web3 … Read more In a significant move to bolster the Web3 space, digital identity platform Unstoppable Domains has announced support…

TL;DR Breakdown Changzhou, China, is launching a citywide shopping festival to promote digital yuan adoption. The festival will distribute 700,000 digital yuan tokens and coupons to residents and visitors. The giveaways encourage locals to embrace the digital yuan and its benefits. Description Changzhou, China, is gearing up for an exhilarating citywide shopping festival that promises to captivate residents and visitors alike. The city plans to distribute a staggering 700,000 digital yuan tokens and coupons for the festivities, signaling a significant step forward for the country’s central bank digital currency (CBDC) pilot program. To infuse an element of … Read more Changzhou, China, is gearing up for an exhilarating citywide shopping festival that promises to captivate residents and visitors alike. The city plans to distribute a staggering 700,000 digital yuan tokens and coupons for the festivities, signaling a significant step forward for the country’s central bank digital currency (CBDC) pilot program. To infuse an element of luck and tradition into the celebrations, Changzhou will adopt a familiar concept: the “lucky red envelopes.” Historically associated with offline Christmas gifts, these digital counterparts…

TL;DR Breakdown The Central Bank of Nigeria (CBN) has reduced the Cash Reserve Requirement (CRR) for merchant banks from 32.5% to 10% to enhance liquidity and enable increased lending capacity. The move aims to support the development of the Nigerian economy by providing merchant banks with more funds to extend loans, particularly to the real sector. Experts welcome the reduction as a positive step that will strengthen financing for the real sector, and they suggest considering a similar reduction in the CRR for Deposit Money Banks (DMBs). Description The Central Bank of Nigeria (CBN) has announced a substantial reduction in the Cash Reserve Requirement (CRR) for merchant banks, from 32.5% to 10%, effective from August 1, 2023. However, the central bank aims to enhance liquidity and enable merchant banks to extend more loans to support the development of the Nigerian economy. The reduction … Read more The Central Bank of Nigeria (CBN) has announced a substantial reduction in the Cash Reserve Requirement (CRR) for merchant banks, from 32.5% to 10%, effective from August 1, 2023. However, the central bank aims…

TL;DR Breakdown One of the key steps outlined by NAB is the blocking of certain cryptocurrency platforms, citing high levels of scam risk within the industry. Although the bank did not disclose the names of the specific cryptocurrency exchanges that will be affected, Chris Sheehan, NAB’s executive for group investigations and fraud, mentioned that the blocks would target “high-risk” platforms known for prevalent scam activities. The bank highlighted the rapid growth of cryptocurrency-related scams, with Australians losing over $221 million to such schemes in the previous year. Description On July 17, National Australia Bank (NAB) made an announcement regarding its new measures to protect customers from fraud as part of its “bank-wide scam strategy.” One of the key steps outlined by NAB is the blocking of certain cryptocurrency platforms, citing high levels of scam risk within the industry. The bank revealed that it … Read more On July 17, National Australia Bank (NAB) made an announcement regarding its new measures to protect customers from fraud as part of its “bank-wide scam strategy.” One of the key steps outlined by NAB…

TL;DR Breakdown Matter Labs introduces Boojum, a revolutionary proof system powered by STARK technology for zkSync Era, enhancing performance and accessibility. Boojum allows faster transaction proofs and reduced hardware requirements, running on consumer-grade GPUs with only 16 GB of GPU RAM. The upgrade aims to improve scalability, democratize participation, and shape the future of Layer 2 scaling solutions in the Ethereum ecosystem. Description Matter Labs, the core developer of Ethereum Layer-2 scaling solution zkSync Era, has announced the launch of Boojum, a revolutionary proof system designed to enhance performance and accessibility. Boojum is built on a new Rust-based cryptographic library developed by zkSync, utilizing STARK technology to power the upgraded Zero-Knowledge (ZK) circuits. However, this significant development moves … Read more Matter Labs, the core developer of Ethereum Layer-2 scaling solution zkSync Era, has announced the launch of Boojum, a revolutionary proof system designed to enhance performance and accessibility. Boojum is built on a new Rust-based cryptographic library developed by zkSync, utilizing STARK technology to power the upgraded Zero-Knowledge (ZK) circuits. However, this significant development moves zkSync Era away from…

TL;DR Breakdown Gasparino engages in a heated dispute with the XRP community, labeling them a “cult.” Ripple faces potential penalties of up to $1 billion in its legal battle with the SEC. Gasparino questions Ripple’s ability to handle the financial blow and suggests potential strategies. Description In a clash of titans, Fox Business’ Charles Gasparino finds himself embroiled in a fiery dispute with members of the XRP community, whom he has boldly labeled a “cult.” The ongoing legal struggle between Ripple and the SEC provides the backdrop for Gasparino’s encounters with the passionate XRP backers, resulting in frustration and professional exhilaration … Read more In a clash of titans, Fox Business’ Charles Gasparino finds himself embroiled in a fiery dispute with members of the XRP community, whom he has boldly labeled a “cult.” The ongoing legal struggle between Ripple and the SEC provides the backdrop for Gasparino’s encounters with the passionate XRP backers, resulting in frustration and professional exhilaration for the Fox anchor. Gasparino, known for his outspoken nature, took to Twitter to recount his tumultuous interactions with the XRP…

TL;DR Breakdown AnubisDAO funds moved in 100 ETH subsequent transactions through Tornado Cash In June last year, the same address moved 1,097 ETH ($1.3 million) and laundered 1,018 ETH ($1.18M) through Tornado Cash Tornado Cash has become increasingly popular over the years with crypto hackers and scammers Description About two years after AnubisDAO was rug-pulled for 13.5K ETH, the funds have been moved via Tornado Cash, a decentralized protocol that enhances the privacy of on-chain activities. The dog-inspired decentralized finance project’s funds were drained in October 2021 after only 20 hours of the project going live. Etherscan showed that the funds moved on … Read more About two years after AnubisDAO was rug-pulled for 13.5K ETH, the funds have been moved via Tornado Cash, a decentralized protocol that enhances the privacy of on-chain activities. The dog-inspired decentralized finance project’s funds were drained in October 2021 after only 20 hours of the project going live. Etherscan showed that the funds moved on Tornado Cash between July 15 and 16, as PeckShieldAlert reported. The address, still holding funds from the rug pull,…

TL;DR Breakdown Aave Protocol has launched GHO, an algorithmic stablecoin, on the Ethereum mainnet. GHO is a decentralized and transparent stablecoin backed by multiple digital assets, ensuring stability and security within the Aave Protocol. GHO aims to revolutionize the stablecoin market by providing verifiability of reserves and utilizing self-executing smart contracts. Governance of GHO is entrusted to AAVE Description Decentralized finance (DeFi) platform Aave has recently unveiled its new stablecoin, GHO, on the Ethereum mainnet. GHO is an algorithmic dollar-pegged stablecoin designed to provide stability and transparency to the DeFi ecosystem. With over $2.19 million worth of GHO minted already, Aave aims to revolutionize the stablecoin landscape through its decentralized and over-collateralized approach. This … Read more Decentralized finance (DeFi) platform Aave has recently unveiled its new stablecoin, GHO, on the Ethereum mainnet. GHO is an algorithmic dollar-pegged stablecoin designed to provide stability and transparency to the DeFi ecosystem. With over $2.19 million worth of GHO minted already, Aave aims to revolutionize the stablecoin landscape through its decentralized and over-collateralized approach. This article delves into the launch of GHO, its…

TL;DR Breakdown Haun Ventures CEO, Katie Haun, views the court’s decision in the Ripple case as positive for the crypto industry, distinguishing between XRP and certain transactions involving institutional investors. Haun believes an immediate appeal by the SEC is unlikely due to potential risks to its enforcement agenda and the current confusion surrounding regulatory interpretations. Ripple CEO, Brad Garlinghouse, and legal expert Jeremy Hogan also anticipate a delayed appeal and highlight the impact of the ruling on future regulatory actions, while calls for congressional action to establish regulatory clarity in the crypto industry grow stronger. Description Katie Haun, former Department of Justice prosecutor and CEO of Haun Ventures, a prominent crypto-focused venture capital fund, has shared her insights on the recent court decision in the long-standing legal battle between Ripple and the Securities and Exchange Commission (SEC). Haun took to Twitter to express her views, describing the court’s decision as “a … Read more Katie Haun, former Department of Justice prosecutor and CEO of Haun Ventures, a prominent crypto-focused venture capital fund, has shared her insights on the recent court…

TL;DR Breakdown NAB is planning to block payments to crypto exchanges with high risk to lower the amount of scam losses About 50% of scam funds in the last 30-day period were crypto-related The bank has managed to stop over $270 million in customer payments over March and July this year over scam concerns The total amount of money Australians lost to scammers in 2022 was a record $2.03 billion (AU$3.1 billion) Description National Australia Bank(NAB), an Australian lender, is planning to block payments to crypto exchanges with high risk to lower the amount of scam losses. The bank is joining other big lenders in the country in their efforts to curb access to digital assets platforms due to the high scam risk associated with them. NAB is … Read more National Australia Bank(NAB), an Australian lender, is planning to block payments to crypto exchanges with high risk to lower the amount of scam losses. The bank is joining other big lenders in the country in their efforts to curb access to digital assets platforms due to the high scam…