G.M Frens,
📰 Today's Crypto Rundown: All the must-know updates in one place! 👇
News 📝
• Samsung Expands in Blockchain: Samsung Next invests in Startale Labs to enhance Ethereum's Layer 2 solutions, deepening its involvement in Web3 infrastructure. 💻 (Coin360, The Block)
• Euler Finance v2 Launched: Euler Finance launches version 2 of its DeFi lending platform, bringing advanced modular features and enhanced risk management for decentralized finance. 🏦 (CoinGecko, CoinDesk)
• Penpie Hack: Penpie, a DeFi protocol, lost $27 million in a hack, forcing Pendle to halt operations briefly to protect over $100 million in assets. 🔒 (CoinDesk, CoinTelegraph)
• Zurich Cantonal Bank’s Crypto Push: Switzerland's largest cantonal bank, ZKB, adds Bitcoin and Ethereum trading and custody services for clients, signaling more institutional adoption of crypto. 🏦 (CoinGecko, CryptoSlate)
•AI & Crypto Convergence: Nvidia's market turmoil could impact AI-focused blockchain tokens like Fetch ai, but experts predict long-term growth as AI and crypto continue to intersect. 💻 (CryptoNews, CoinDesk)
• Uniswap CFTC Fine: Uniswap Labs was fined $175,000 by the CFTC for facilitating illegal leveraged retail transactions, further stoking regulatory debates in DeFi. ⚖️ (CoinTelegraph, CoinDesk)
• Vitalik Buterin's STRK Movement: Ethereum’s co-founder Vitalik Buterin unlocked $470,000 in STRK tokens, which caused a stir among the crypto community. 🧐 (The Block, CoinGecko)
• Solana Whale Offloading: A Solana whale sold over $99 million worth of SOL, continuing weekly sales despite Solana’s 31% growth this year. 🐋 (CoinGecko, CoinTelegraph)
• Consumer Price Index impact on crypto: The upcoming US CPI report for August is expected to impact crypto markets as inflation pressures weigh on investor sentiment. 📊 (CoinTelegraph, CoinDesk)
• Token2049 set for major announcements: Industry leaders gear up for the Token2049 conference, where big announcements from key players in DeFi and blockchain are expected. 🌐 (CoinTelegraph, CoinDesk)
• Brazil’s CBDC moves forward: Brazil’s Central Bank taps Visa and Santander to lead the next phase of its CBDC project, signaling advancements in digital finance. 🇧🇷 (CryptoNews, CoinTelegraph)
• FTX legal drama continues: US prosecutors dismiss claims of a breach in the plea deal with former FTX executive Ryan Salame, keeping legal battles in the spotlight. ⚖️ (CryptoNews, CoinTelegraph)
• Trump’s crypto venture: Former President Trump’s crypto project, World Liberty Financial, faces skepticism over its feasibility amid his presidential run. 🇺🇸 (GreekReporter, The Block)
• Ethereum: Analysts say Ethereum’s rising inflation isn’t necessarily bad, with potential long-term benefits for the ecosystem. 🚀 (CryptoNews)
Crypto & DeFi Projects Updates 📈
Radiant Capital's Cross-Chain Expansion ➤ Radiant Capital has expanded its lending and borrowing services to support multiple blockchains, enhancing liquidity and interoperability. This move marks a major milestone for cross-chain DeFi solutions. 🔗 (Source: CoinTelegraph, The Block)
Frax Finance Unveils Frax v3 ➤ Frax Finance introduces Frax v3, focusing on greater algorithmic stability and decentralization within its stablecoin protocol. This upgrade is designed to strengthen its place as a leading stablecoin in DeFi. 🔄 (Source: Decrypt)
Stargate Finance Integrates with LayerZero ➤ Stargate announces its integration with LayerZero, facilitating seamless cross-chain swaps and bridging liquidity across different blockchains. This integration enhances cross-chain operations for DeFi protocols. 🌐 (Source: CoinTelegraph)
Kava Lend Adds New Collateral Types ➤ Kava Lend now accepts Bitcoin and Ethereum as collateral for loans on its platform. This new feature gives users more flexibility and options when borrowing against their crypto assets. 🏦 (Source: The Block, CoinDesk)
GMX Tops DeFi Revenue ➤ GMX, a decentralized perpetual exchange, outperformed other DeFi protocols in revenue over the past 24 hours, driven by high trading volume and demand for perpetual contracts. 📊 (Source: Decrypt)
MakerDAO Proposes DAI Savings Rate Increase ➤ MakerDAO is considering a proposal to increase the DAI Savings Rate (DSR) to attract more users to lock up their DAI. This move could significantly boost demand for the decentralized stablecoin. 💰 (Source: CoinDesk)
Compound Launches Treasury Service ➤ Compound has launched a new treasury service aimed at institutional clients, offering a simplified way for large firms to earn yield on digital assets. This is part of Compound’s strategy to attract traditional finance into DeFi. 💼 (Source: The Block)
Stay informed, stay ahead! 🚀
See u soon 😇
Maboo :)
