TL;DR Breakdown Polygon 2.0 architecture, unveiled by co-founder Sandeep Nailwal, introduces unlimited scalability and unified liquidity through ZK-powered Layer 2 chains and a novel interop layer. MATIC price surged by 5.6% following the announcement, solidifying Polygon’s position as a leading blockchain platform with a market capitalization of $6.1 billion. Description Polygon, the Layer-2 scalability platform co-founded by Sandeep Nailwal, has reached a significant milestone with the unveiling of its highly anticipated Polygon 2.0 architecture. The announcement not only marks a major advancement for the project but has also had a positive impact on the market performance of Polygon’s native cryptocurrency, MATIC, which experienced a notable … Read more Polygon, the Layer-2 scalability platform co-founded by Sandeep Nailwal, has reached a significant milestone with the unveiling of its highly anticipated Polygon 2.0 architecture. The announcement not only marks a major advancement for the project but has also had a positive impact on the market performance of Polygon’s native cryptocurrency, MATIC, which experienced a notable surge in price. Unlimited Scalability and Unified Liquidity: Key Features of Polygon 2.0 Polygon 2.0 introduces several…

TL;DR Breakdown Fidelity has refiled its application for a spot Bitcoin ETF, joining other prominent asset managers in seeking approval from the SEC.  The approval of the first Bitcoin futures ETF in 2021 has generated optimism for the future of spot Bitcoin ETFs.  Description In a move that has reignited hopes for the cryptocurrency industry, asset management giant Fidelity has refiled its application to list and trade shares of its Wise Origin Bitcoin Trust spot bitcoin exchange-traded fund (ETF). The announcement comes amidst a flurry of similar applications from prominent financial institutions, including BlackRock, WisdomTree, Invesco, and VanEck.  These … Read more In a move that has reignited hopes for the cryptocurrency industry, asset management giant Fidelity has refiled its application to list and trade shares of its Wise Origin Bitcoin Trust spot bitcoin exchange-traded fund (ETF). The announcement comes amidst a flurry of similar applications from prominent financial institutions, including BlackRock, WisdomTree, Invesco, and VanEck.  These filings signal a renewed interest in the crypto sector, providing a much-needed boost after a period of uncertainty. While the Securities and Exchange…

TL;DR Breakdown China’s energy providers are embracing digital yuan payment options, enabling companies and individuals to settle their bills using the country’s central bank digital currency (CBDC).  State-owned public utility providers have expressed their commitment to actively assist companies and individuals in understanding the differences between traditional and digital yuan payment methods. In a recent example, Suzhou’s Xiangcheng District drainage and sanitation companies utilized the digital yuan to pay an $83,000 power bill.  Description China’s energy providers are embracing digital yuan payment options, enabling companies and individuals to settle their bills using the country’s central bank digital currency (CBDC). In a recent example, Suzhou’s Xiangcheng District drainage and sanitation companies utilized the digital yuan to pay an $83,000 power bill. The State Grid Corporation of China (SGCC), the nation’s … Read more China’s energy providers are embracing digital yuan payment options, enabling companies and individuals to settle their bills using the country’s central bank digital currency (CBDC). In a recent example, Suzhou’s Xiangcheng District drainage and sanitation companies utilized the digital yuan to pay an $83,000 power bill. The State…

TL;DR Breakdown Crypto markets head into the weekend on negative sentiment, with Bitcoin struggling to maintain the price above $30K. Almost $5 billion worth of Bitcoin options are scheduled to expire today, marking the largest mass expiration in months and posing a risk of market volatility. Ethereum options worth around $2.3 billion are also set to expire on June 30. Description Historically, the crypto markets have suffered from weekend volatility. This weekend is no exception. A massive amount of Bitcoin options are slated to expire today, according to crypto market analysts, marking the largest bulk expiry in months. Derivatives trading fever has recently risen in response to many ETF registrations, but will speculators get burned? Crypto … Read more Historically, the crypto markets have suffered from weekend volatility. This weekend is no exception. A massive amount of Bitcoin options are slated to expire today, according to crypto market analysts, marking the largest bulk expiry in months. Derivatives trading fever has recently risen in response to many ETF registrations, but will speculators get burned? Crypto markets head into the weekend on…

TL;DR Breakdown Data from the Federal Reserve Bank of St. Louis reveals that the Bank Term Funding Program (BTFP), an emergency lending program initiated by the American central bank has reached a record high of $103.08 billion. This milestone indicates that the Federal Reserve is still intervening to bail out banks, despite its efforts to assure investors that the banking crisis is under control. U.S. banking regulators have been urging lenders to collaborate with credit-worthy borrowers who are facing financial stress. Description The Bank Term Funding Program (BTFP), an emergency lending program initiated by the American central bank, has experienced its highest level of distressed asset redemptions since its establishment three months ago. Launched in response to the United States banking crisis and the collapse of Silicon Valley Bank, among others, the BTFP aims to provide support … Read more The Bank Term Funding Program (BTFP), an emergency lending program initiated by the American central bank, has experienced its highest level of distressed asset redemptions since its establishment three months ago. Launched in response to the United States banking crisis…

TL;DR Breakdown Former first lady Melania Trump launches another NFT collection, The 1776 Collection ahead of July 4 Each of the three thousand available digital collectibles costs $50 Description Former First Lady of the United States, Melania Trump, has launched another NFT collection, “The 1776 Collection,” ahead of the Independence Day celebration on July 4. The NFT collection features three thousand digital tokens with seven different designs. Melania launches the 1776 Collection Melania Trump’s new NFT collection draws inspiration from various iconic landmarks in … Read more Former First Lady of the United States, Melania Trump, has launched another NFT collection, “The 1776 Collection,” ahead of the Independence Day celebration on July 4. The NFT collection features three thousand digital tokens with seven different designs. Melania launches the 1776 Collection Melania Trump’s new NFT collection draws inspiration from various iconic landmarks in the U.S. The Statue of Liberty is featured in two of the NFTs. The other NFTs feature famous landmarks such as Mount Rushmore, the Lincoln Memorial and the Washington Monument, respectively. The remaining NFTs have the Philadelphia Liberty…

TL;DR Breakdown Simon Callaghan, the new CEO of Blockchain Australia, is calling for collaboration between Australia’s banks, government, and the crypto industry to tackle the increasing number of cryptocurrency scams. Two of the country’s largest banks recently imposed restrictions or outright bans on certain payments made to cryptocurrency exchanges, citing the increasing threat of scams.  Trevor Power, an Australian Treasury assistant secretary, confirmed that the government is heavily investing in reducing scams. Description Simon Callaghan, the new CEO of Blockchain Australia, is calling for collaboration between Australia’s banks, government, and the crypto industry to tackle the increasing number of crypto scams. During his speech at Australian Blockchain Week in Melbourne on June 30, Callaghan emphasized the importance of protecting consumers and announced that the association would prioritize efforts … Read more Simon Callaghan, the new CEO of Blockchain Australia, is calling for collaboration between Australia’s banks, government, and the crypto industry to tackle the increasing number of crypto scams. During his speech at Australian Blockchain Week in Melbourne on June 30, Callaghan emphasized the importance of protecting consumers and announced…

TL;DR Breakdown Base, a layer 2 blockchain under Coinbase, completes six months of extensive internal and external security assessments. Coinbase hired 100 experts to examine the network’s code as part of an audit contest. The Code4rena challenge lasted 14 days. Base has not provided a date for the mainnet launch and has stated it will not have a native token. Description Base, the layer 2 blockchain developed by Nasdaq-listed crypto exchange Coinbase (COIN), has completed a series of security audits as it prepares to launch its mainnet with the goal of attracting up to 1 million new crypto users in the coming years. The team announced on June 29 that the Optimism-powered, Ethereum-secured network had undergone … Read more Base, the layer 2 blockchain developed by Nasdaq-listed crypto exchange Coinbase (COIN), has completed a series of security audits as it prepares to launch its mainnet with the goal of attracting up to 1 million new crypto users in the coming years. The team announced on June 29 that the Optimism-powered, Ethereum-secured network had undergone six months of extensive internal and…

TL;DR Breakdown The CFTC has obtained a default judgement which would see crypto fraud scheme operator Michael Ackerman pay $54 million in damages. The commission is set to ban him from carrying out trades amid other punishments. Description The Commodity Futures Trading Commission (CFTC) recently announced a significant victory in its ongoing efforts to combat fraudulent activities in the digital asset trading space. Judge Naomi Reice Buchwald of the U.S. District Court for the Southern District of New York issued a default judgment that permanently prohibits Michael Ackerman, a resident of Alliance, Ohio, … Read more The Commodity Futures Trading Commission (CFTC) recently announced a significant victory in its ongoing efforts to combat fraudulent activities in the digital asset trading space. Judge Naomi Reice Buchwald of the U.S. District Court for the Southern District of New York issued a default judgment that permanently prohibits Michael Ackerman, a resident of Alliance, Ohio, from participating in any trading activities within CFTC-regulated markets. Ackerman is also barred from registering with the CFTC. CFTC obtains ruling against Michael Ackerman Ackerman’s ban stems from his…

TL;DR Breakdown President Biden pledges to eliminate tax loopholes for crypto traders and hedge fund managers, aiming to address an estimated $18 billion in lost tax revenue. Bitcoin initially dipped in value following Biden’s comments but quickly rebounded, demonstrating resilience in the face of regulatory scrutiny. Institutional interest in cryptocurrencies remains strong, with applications for spot Bitcoin ETFs and significant inflows into digital asset investment products. Description In a recent speech outlining his economic plan, US President Joe Biden reaffirmed his commitment to making the tax system fairer by eliminating loopholes that allow crypto traders and hedge fund managers to evade taxes. This move addresses an estimated $18 billion in lost tax revenue, signaling the government’s intention to crack down on tax … Read more In a recent speech outlining his economic plan, US President Joe Biden reaffirmed his commitment to making the tax system fairer by eliminating loopholes that allow crypto traders and hedge fund managers to evade taxes. This move addresses an estimated $18 billion in lost tax revenue, signaling the government’s intention to crack down on tax…