TL;DR Breakdown Andre Cronje, co-founder of Fantom, referred to the downfall of Multichain as a “massive setback” for the smart contract platform. Fantom’s Total Value Locked (TVL) fell sharply from $364 million in early May to just $70 million by July 14, as per data from DefiLlama. The value of it’s native token (FTM) also dropped from $0.41 to $0.28 in the same period. Cronje expressed regret over trusting the Multichain team’s assurances on server decentralization, access, and geolocation distribution, underlining the need for verification rather than blind trust. Description Andre Cronje, the co-founder of Fantom, painted a grim picture of the state of the smart contract platform, following the controversial demise of Multichain. He labelled Multichain’s downfall as a “massive setback” for Fantom, which has recently witnessed a significant decrease in activity due to Multichain’s issues. Fantom’s Drastic Decline in Total Value Locked DefiLlama’s … Read more Andre Cronje, the co-founder of Fantom, painted a grim picture of the state of the smart contract platform, following the controversial demise of Multichain. He labelled Multichain’s downfall as a “massive setback”…

TL;DR Breakdown Santiment suggests that XRP has significant upside potential following a court ruling that its sales do not constitute securities. The court ruling led to a rally in XRP’s price, reaching a 15-month high, and an increase in discussions related to the digital asset. Whale and shark activity on the XRP network further support the positive momentum, signaling the potential for continued growth. However, caution is advised as the rally may be subject to overreaction. Description After a recent court ruling that determined Ripple Labs’ automated, open-market XRP sales did not qualify as the sale of securities, cryptocurrency analytics platform Santiment outlined the path forward for XRP. The court ruling sparked a significant rally for XRP, with the digital asset surging over 70% to reach a 15-month high. As a result, … Read more After a recent court ruling that determined Ripple Labs’ automated, open-market XRP sales did not qualify as the sale of securities, cryptocurrency analytics platform Santiment outlined the path forward for XRP. The court ruling sparked a significant rally for XRP, with the digital asset surging…

TL;DR Breakdown Presidential candidate Ron DeSantis opposes Central Bank Digital Currencies (CBDCs), citing them as threats to American liberty. As Florida’s governor, the politician has already banned CBDCs in the state and promises to extend this ban nationally if elected president. DeSantis’s concern also extends to the World Economic Forum’s alleged plans to discourage cash and cryptocurrency transactions. Description Presidential hopeful Ron DeSantis, known for his strong views, has once again made headlines. His latest stance? A full-throttle opposition against the introduction of Central Bank Digital Currencies (CBDCs) in the United States. DeSantis’s hard stance on CBDCs DeSantis, a Republican candidate for the 2024 Presidential elections, has vowed to quash any attempts to introduce … Read more Presidential hopeful Ron DeSantis, known for his strong views, has once again made headlines. His latest stance? A full-throttle opposition against the introduction of Central Bank Digital Currencies (CBDCs) in the United States. DeSantis’s hard stance on CBDCs DeSantis, a Republican candidate for the 2024 Presidential elections, has vowed to quash any attempts to introduce CBDCs in the country if he emerges victorious….

TL;DR Breakdown The parliamentary committee investigating Credit Suisse’s collapse will keep its files secret for 50 years, an extension from the usual 30 years. This investigation focuses on Credit Suisse’s activities leading to its takeover by UBS and the actions of the Swiss government, central bank, and financial regulator. The decision sparked concerns among Swiss historians who argue for the future academic importance of these files. Description In an unexpected move, the parliamentary committee investigating the high-profile downfall of Credit Suisse announced that its investigative records would remain confidential for the next 50 years. This move has alarmed Swiss historians and academics, as this surpasses the usual 30-year duration for maintaining confidentiality. Credit Suisse securing confidentiality or veiling transparency? The decision implies … Read more In an unexpected move, the parliamentary committee investigating the high-profile downfall of Credit Suisse announced that its investigative records would remain confidential for the next 50 years. This move has alarmed Swiss historians and academics, as this surpasses the usual 30-year duration for maintaining confidentiality. Credit Suisse securing confidentiality or veiling transparency? The decision implies…

TL;DR Breakdown France is opposing the appointment of former U.S. Department of Justice economist Fiona Scott Morton as the EU’s new chief economist at the Directorate-General for Competition. France’s push for “strategic autonomy,” reducing reliance on external powers like the U.S., partly explains its concerns over an American taking up a crucial EU role. Description Tensions are mounting as France finds itself at odds with the U.S. and the European Union in the most recent saga involving the nomination of a former U.S. Department of Justice economist for a key EU role. Fiona Scott Morton, a former Obama administration official and a professor at Yale University, has been chosen to … Read more Tensions are mounting as France finds itself at odds with the U.S. and the European Union in the most recent saga involving the nomination of a former U.S. Department of Justice economist for a key EU role. Fiona Scott Morton, a former Obama administration official and a professor at Yale University, has been chosen to be the new chief economist at the Directorate-General for Competition, raising eyebrows…

TL;DR Breakdown China’s chief diplomat, Wang Yi, has requested the European Union to clarify its stance on their strategic partnership. This follows a shift in EU-China relations since 2019, with the EU viewing China as an economic competitor and “systemic rival”. EU leaders have recently been advocating for reduced dependence on China, a contrast to the original intent of their strategic partnership. Description Bridging the divide between China and the European Union has become a pressing matter for top diplomats. Wang Yi, China’s chief diplomat, recently called for the EU to provide greater clarity regarding the strategic partnership that binds these global powerhouses. Building trust or back-pedalling? In 2003, the European Union and China embarked on what was … Read more Bridging the divide between China and the European Union has become a pressing matter for top diplomats. Wang Yi, China’s chief diplomat, recently called for the EU to provide greater clarity regarding the strategic partnership that binds these global powerhouses. Building trust or back-pedalling? In 2003, the European Union and China embarked on what was deemed a comprehensive strategic…

TL;DR Breakdown Russia has initiated talks to trade using national currencies with 10 Southeast Asian countries. This move aligns with a global trend of reducing reliance on the US dollar in international trade. Russia seeks to foster a multipolar world order and views this as a step towards reducing Western dominance in global affairs. Description As a seismic shift echoes through the world of international commerce, Russia has initiated discussions on conducting trade with ten Southeast Asian nations through their respective national currencies. These nations are members of the Association of Southeast Asian Nations (ASEAN), comprising Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. This strategic maneuver … Read more As a seismic shift echoes through the world of international commerce, Russia has initiated discussions on conducting trade with ten Southeast Asian nations through their respective national currencies. These nations are members of the Association of Southeast Asian Nations (ASEAN), comprising Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. This strategic maneuver coincides with a global trend in which nations are increasingly seeking alternatives…

TL;DR Breakdown Yuga Labs has announced that ApeFest would return in November 2023. The program is evolving into a multi-faceted convention experience. Description Yuga Labs, the parent company behind the popular Bored Ape Yacht Club (BAYC), has officially announced the highly anticipated return of ApeFest 2023. This massive in-person event will be held in Hong Kong from November 3 to November 5. The decision to bring back ApeFest demonstrates Yuga Labs’ commitment to revitalizing the Ape community’s trust … Read more Yuga Labs, the parent company behind the popular Bored Ape Yacht Club (BAYC), has officially announced the highly anticipated return of ApeFest 2023. This massive in-person event will be held in Hong Kong from November 3 to November 5. The decision to bring back ApeFest demonstrates Yuga Labs’ commitment to revitalizing the Ape community’s trust in the brand and reinvigorating excitement surrounding their landmark PFP (Profile Picture) project. Yuga Labs set to host the event in November Despite the recent decline in the overall NFT market, including a drop in the value of Bored Ape Yacht Club (BAYC) and…

TL;DR Breakdown Bored Ape Yacht Club (BAYC) NFT collection experiences a significant transaction as Bored Ape #1734 sells for over $1.2 million. The sale boosts the BAYC collection and the broader NFT market, which has been facing a downturn. However, concerns arise about the legitimacy of the transaction, while data shows mixed performance in terms of floor price increase but declines in volume and sales for the BAYC collection. Description The Bored Ape Yacht Club (BAYC) collection witnessed a momentous transaction recently. According to recent reports, bored Ape #1734, one of the NFTs from the collection, fetched an astounding price of 600 ETH, equivalent to over $1.2 million, on July 13. This remarkable sale has injected newfound optimism into the BAYC collection and the broader … Read more The Bored Ape Yacht Club (BAYC) collection witnessed a momentous transaction recently. According to recent reports, bored Ape #1734, one of the NFTs from the collection, fetched an astounding price of 600 ETH, equivalent to over $1.2 million, on July 13. This remarkable sale has injected newfound optimism into the BAYC collection…

TL;DR Breakdown Ark Invest, led by Cathie Wood, sold additional Coinbase shares amidst the stock’s rally, reflecting a potential reassessment of their investment strategy. Despite facing an SEC lawsuit, Coinbase has experienced a substantial surge of nearly 200% this year. Coinbase’s selection as a surveillance-sharing partner for Bitcoin ETF applicants and positive legal rulings on XRP have contributed to its growth. Description Ark Invest, the renowned investment firm led by Cathie Wood, made additional sales of Coinbase shares on Friday amidst the stock’s continued rally. The move comes as Ripple‘s legal developments at the hands of the Securities and Exchange Commission (SEC) contribute to Coinbase’s positive market performance. According to a recent update from Ark’s trading desk, … Read more Ark Invest, the renowned investment firm led by Cathie Wood, made additional sales of Coinbase shares on Friday amidst the stock’s continued rally. The move comes as Ripple‘s legal developments at the hands of the Securities and Exchange Commission (SEC) contribute to Coinbase’s positive market performance. According to a recent update from Ark’s trading desk, the flagship fund, Ark Innovation…