TL;DR Breakdown China’s currency shows signs of weakening against the U.S. dollar as the economy struggles to recover. Chinese yuan is hovering around 7.28 against the dollar, marking a decline of roughly 5% over the year. Description China’s currency is showing signs of weakening against the U.S. dollar. While the economy’s condition is growing gloomier, it’s likely that the Chinese yuan will experience a decline in value, but a sharp and sudden drop shouldn’t be anticipated. China’s exports are declining  Despite maintaining a substantial trade surplus, China is witnessing a decline in … Read more China’s currency is showing signs of weakening against the U.S. dollar. While the economy’s condition is growing gloomier, it’s likely that the Chinese yuan will experience a decline in value, but a sharp and sudden drop shouldn’t be anticipated. China’s exports are declining  Despite maintaining a substantial trade surplus, China is witnessing a decline in exports, causing this surplus to shrink. The Chinese central bank is adopting more aggressive easing measures in response to the economic slowdown. Meanwhile, the U.S. continues to maintain higher interest…

TL;DR Breakdown Cypher Protocol froze $600,000 in stolen cryptocurrency after a security breach on August 7, where $1 million in assets were drained. The team partnered with investigators and offered a 10% bounty to the hackers but did not recover the funds. A redemption plan was introduced to support affected users. Description In a significant move to safeguard its platform, Cypher Protocol, a decentralized future exchange operating on the Solana blockchain, has successfully frozen more than half of the funds stolen in cryptocurrency during a recent security breach. As of August 18, Cypher Protocol’s team has effectively frozen nearly $600,000 in cryptocurrency, which had been unlawfully taken … Read more In a significant move to safeguard its platform, Cypher Protocol, a decentralized future exchange operating on the Solana blockchain, has successfully frozen more than half of the funds stolen in cryptocurrency during a recent security breach. As of August 18, Cypher Protocol’s team has effectively frozen nearly $600,000 in cryptocurrency, which had been unlawfully taken from various centralized exchanges.  update from cypher ~$600k has been frozen across CEXs, the return…

Description In an era dominated by centralized communication platforms, decentralized alternatives shift how we connect and interact. Among these disruptors is the OpenChat dApp, an application reimagining messaging within the context of blockchain technology. As the digital landscape evolves and users seek more control over their data and interactions, OpenChat offers a unique proposition: a fully-featured … Read more In an era dominated by centralized communication platforms, decentralized alternatives shift how we connect and interact. Among these disruptors is the OpenChat dApp, an application reimagining messaging within the context of blockchain technology. As the digital landscape evolves and users seek more control over their data and interactions, OpenChat offers a unique proposition: a fully-featured chat application that operates entirely on the Internet Computer Protocol (ICP) blockchain.   Contents hide 1 What is OpenChat? 2 OpenChat App Features 3 The OpenChat DAO 4 So how will the OpenChat DAO work? 5 CHAT token 6 OpenChat Wallet 7 Communities 8 Conclusion What is OpenChat? OpenChat dApp is a fully-featured open-source chat platform comparable to familiar names like WhatsApp, Signal, and Telegram. However, what…

TL;DR Breakdown The ambitious plans of Stake to expand nationwide are now facing a challenge from a Sydney-based share trading platform with the same name. The share trading platform initiated a lawsuit in the Federal Court last week, aiming to prevent the crypto casino from utilizing the Stake brand within Australia. The legal challenge comes from a share trading platform with the same name, alleging confusion and misrepresentation.  Description A cryptocurrency gambling company co-founded by Australian billionaire Ed Craven and endorsed by Canadian music artist Drake has encountered a legal obstacle in its attempt to establish itself in the Australian market. The ambitious plans of Stake to expand nationwide are now facing a challenge from a Sydney-based share trading platform with the same name, … Read more A cryptocurrency gambling company co-founded by Australian billionaire Ed Craven and endorsed by Canadian music artist Drake has encountered a legal obstacle in its attempt to establish itself in the Australian market. The ambitious plans of Stake to expand nationwide are now facing a challenge from a Sydney-based share trading platform with the…

TL;DR Breakdown Shiba Inu’s Layer-2 Shibarium network temporarily halted block production due to overwhelming traffic but resumed operations with enhanced scaling measures. The market reacted with a significant selloff of SHIB, BONE, and LEASH tokens, but prices began to rebound as the network stabilized and the team took proactive steps. Description The cryptocurrency world is no stranger to volatility and unexpected events. The recent hiccup in the operations of Shiba Inu’s Layer-2 Shibarium network is a testament to this. After a brief pause in block production, Shibarium is back, and the market is reacting. Here’s a comprehensive look at what transpired, the reasons behind it, and … Read more The cryptocurrency world is no stranger to volatility and unexpected events. The recent hiccup in the operations of Shiba Inu’s Layer-2 Shibarium network is a testament to this. After a brief pause in block production, Shibarium is back, and the market is reacting. Here’s a comprehensive look at what transpired, the reasons behind it, and the subsequent market response. Contents hide 1 The Unanticipated Halt: What Happened to Shibarium? 2 Addressing…

TL;DR Breakdown Crypto businesses operating within the UK are mandated to adhere to the guidelines laid out by the Financial Action Task Force (FATF), specifically its Anti-Money Laundering and Counter-Terrorist Financing regulations, collectively referred to as the Travel Rule.  The FATF established the Travel Rule in 2012 for traditional financial institutions and extended it to VASPs in 2019. However, its implementation progress has been limited, with only 11 out of 98 surveyed countries enforcing the rule by 2022. The introduction of new marketing standards by the Financial Conduct Authority, set to come into force in October, has further increased the compliance burden on crypto businesses. Description The United Kingdom took a significant step towards aligning itself with global regulatory standards concerning the use of cryptocurrencies in 2022. The nation enacted legislation to ensure compliance with the extended Travel Rule, a framework designed to regulate cryptocurrency transactions and curb potential illicit activities. As of September 1, crypto businesses operating within the UK … Read more The United Kingdom took a significant step towards aligning itself with global regulatory standards concerning the…

TL;DR Breakdown Charles Hoskinson responds to recent criticisms, defending Cardano’s progress. Criticisms questioned Hydra’s viability, but Hoskinson counters it is potential for specific applications and expresses faith in input endorsers. Hoskinson dismisses bias accusations and emphasizes tangible progress in Cardano’s development. Description In response to recent criticisms, Charles Hoskinson, the prominent mathematician behind Cardano and founder of IOG, the company behind its development, has engaged in a lively exchange defending the progress of the Cardano blockchain. Hoskinson, who co-founded Ethereum before Cardano, found himself addressing skepticism regarding Cardano’s innovative solutions. He highlighted the ongoing advancements of both … Read more In response to recent criticisms, Charles Hoskinson, the prominent mathematician behind Cardano and founder of IOG, the company behind its development, has engaged in a lively exchange defending the progress of the Cardano blockchain. Hoskinson, who co-founded Ethereum before Cardano, found himself addressing skepticism regarding Cardano’s innovative solutions. He highlighted the ongoing advancements of both Hydra and Mithril, underlining their efficacy in the evolving blockchain landscape. The criticism centered on the viability of Hydra for all use cases, with Hoskinson…

TL;DR Breakdown OpenSea, a prominent nonfungible token (NFT) marketplace, is discontinuing its Operator Filter, an on-chain royalty enforcement tool that enabled creators to blacklist NFT platforms that didn’t enforce royalty payments. OpenSea faced resistance from creators who perceived the Operator Filter as infringing upon their control over the platforms on which their collections were sold. Collections utilizing the tool, as well as existing collections on non-Ethereum blockchains, will enforce the creator’s chosen fees until February 29, 2024. Description OpenSea, a prominent nonfungible token (NFT) marketplace, is discontinuing its Operator Filter, an on-chain royalty enforcement tool. This tool enabled creators to blacklist NFT platforms that didn’t enforce royalty payments. OpenSea’s CEO, Devin Finzer, announced the change in an August 17 statement, with the implementation scheduled for August 31. The Operator Filter was introduced in … Read more OpenSea, a prominent nonfungible token (NFT) marketplace, is discontinuing its Operator Filter, an on-chain royalty enforcement tool. This tool enabled creators to blacklist NFT platforms that didn’t enforce royalty payments. OpenSea’s CEO, Devin Finzer, announced the change in an August 17 statement, with the…

TL;DR Breakdown Binance is converting New Bitshares (NBS) tokens to US dollars, a significant shift from its original course. After delisting several tokens in 2022, Binance had a withdrawal phase until January 2023 for users affected. Binance will pause NBS deposits and withdrawals after September 9, 2023, except for withdrawals initiated before that date. Description Binance, the world’s leading cryptocurrency exchange, has unveiled plans for a significant token swap. This initiative entails the conversion of all New Bitshares (NBS) tokens residing within user wallets to US dollars, marking a departure from the initial trajectory set almost a year ago. This decision arrives on the heels of Binance‘s delisting of District0x … Read more Binance, the world’s leading cryptocurrency exchange, has unveiled plans for a significant token swap. This initiative entails the conversion of all New Bitshares (NBS) tokens residing within user wallets to US dollars, marking a departure from the initial trajectory set almost a year ago. This decision arrives on the heels of Binance‘s delisting of District0x (DNT), New Bitshares (NBS), Bitcoin Gold (BTG), and Token Club (TCT) back…

TL;DR Breakdown The U.S. SEC is nearing approval of the first Ether futures ETFs, with possible green lights as early as October. Ether’s price jumped 11% amid anticipation of the approval, reflecting Ethereum’s growing prominence in finance. The potential approval signals a new era of integration for cryptocurrencies into mainstream financial products, as the industry also awaits decisions on Bitcoin ETFs. Description The U.S. Securities and Exchange Commission (SEC) is reportedly on the verge of a landmark decision that could reshape the cryptocurrency landscape.  According to a report from Bloomberg citing sources familiar with the matter, the regulatory body is considering approving the first exchange-traded funds (ETFs) based on Ether futures. Several firms have eagerly awaited this … Read more The U.S. Securities and Exchange Commission (SEC) is reportedly on the verge of a landmark decision that could reshape the cryptocurrency landscape.  According to a report from Bloomberg citing sources familiar with the matter, the regulatory body is considering approving the first exchange-traded funds (ETFs) based on Ether futures. Several firms have eagerly awaited this move. Several firms eagerly await…