▌91% of the 21 Million Bitcoin Supply Has Now Been Mined
Bitcoin Magazine tweeted that 91% of the 21 million bitcoin supply has now been mined, and only 9% left to be mined in the next 118 years.
▌Singapore Financial Regulator Plans to Consult Public in Stablecoin Regulations
The Monetary Authority of Singapore (MAS), the city-state’s main financial regulator, assesses the merits of a regulatory regime toward stablecoin. Current guidelines focus on Know Your Customer (KYC) and Anti-Money laundering (AML) issues and do not reflect the specific risks that stablecoins are entitled to take. MAS plans to solicit public comments on stablecoin regulation in the next few months. It believes that the current guidelines should shift the focus of work from KYC/AML issues to stablecoin risks, focusing on reserves and exchange rate stability.
▌Robinhood’s Crypto Unit Fined US$30 Million by New York Regulators for AML and Cybersecurity Violations
Robinhood’s crypto unit was fined $30 million by the New York State Department of Financial Services (NYDFS) for violating anti-money laundering (AML) and cybersecurity regulations. Robinhood first publicly disclosed the investigation and settlement with the NYDFS a year ago in paperwork reported to the SEC.
▌Nansen: About US$2.7 Billion in ETH Was Spent in Minting NFTs in the First Half of 2022
According to new market research published by Nansen, market participants spent 963,227 ETH (about US$2.7 billion) on the Ethereum blockchain for minting NFTs in the first half of 2022. 50.7% of the ETH raised remained in the NFT project, while 45.7% of the ETH raised was transferred to non-entity wallets. The top 5 NFT projects raised 81,364 ETH through public sale, accounting for 8.4% of overall minting in the first half of 2022.
▌The Second-quarter Impairment Charge of Bitcoin Held by MicroStrategy Was US$918 Million
According to the latest earnings report of MicroStrategy as of June 30, the 129,699 Bitcoins held by the company were acquired at a price of about $4 billion, reflecting the average cost of each Bitcoin at about $30,664. At Bitcoin’s current price sitting around $23,000, these assets are now worth about $3 billion.
▌MicroStrategy CEO to Assume the Role of Executive Chairman, Will Focus on Acquiring and Holding Bitcoin and Related Advocacy Programs
Michael Saylor announced on Tuesday that he resigned as CEO of MicroStrategy and moved to the new position of Executive Chairman. Company president Phong Le will serve as the new CEO and board member. Saylor, who continues to serve as the company's Chairman of the Board of Directors, said, “I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding bitcoin and growing our enterprise analytics software business. As Executive Chairman I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while Phong will be empowered as CEO to manage overall corporate operations.”
▌Fed's Evans backs 50 or 75 bps hike in September if inflation doesn't abate
Chicago Fed President Charles Evans thinks that interest rates will have to rise to between 3.75% and 4% by the second quarter of 2023. A 50 basis points rates hike is a reasonable assessment for the September meeting if inflation does not improve. There’s still a reasonable expectation that monetary tightening into next year will lead to a restrictive setting but allow for a reasonably strong labor market. Evans added, “it is possible the U.S. economy gets a soft landing, but there are a lot of risks.”
The Australian Federal Police (AFP) has partnered with Chainalysis in a global campaign called "Operation Spincaster" to tackle cryptocurrency fraud. This operation has revealed over 2,000 compromised Australian crypto wallets and uncovered $162 million in losses.
WeatherlyDill, a modular data availability network aligned with the Danksharding roadmap, has been selected for Binance Labs Incubation Programme Season 7 and has also closed its pre-seed and founders funding round led by Find Satoshi Ventures. This highlights the growing importance of data availability infrastructure.
CatherineMorpho has raised $50 million led by Ribbit Capital to enhance its decentralized lending infrastructure. The funds will help integrate Morpho into the fintech ecosystem and expand its impact in decentralized finance (DeFi).
WeatherlyDespite its popularity and 300 million users, Hamster Kombat's airdrop is delayed with no set date, despite promises of the “largest airdrop” in crypto history. Will Telegram clicker games lose its appeal and crash post-airdrop?
KikyoChinese national Wang Xinghong, 40, was sentenced to five years in prison for his role in a cryptocurrency scam that defrauded over 700 investors out of S$6.7 million. As CTO of A&A Blockchain Innovation, he helped maintain a fake mining app, contributing to the scheme's operation and resulting in losses of S$1.1 million.
AnaisIn just over two weeks since its launch, the NOWChain Testnet has surpassed 340,000 transactions. With its Proof of Mobile (PoM) consensus, NOWChain aims to transform blockchain security by leveraging the collective power of mobile devices.
CatherineAigisos has launched its Genesis Rolldrop, distributing 90 million AIG tokens in a two-phase event to engage both new and existing users. However, significant verification issues and a lack of solid progress raise doubts about whether Aigisos can prove its worth beyond high-profile endorsements. With such verification challenges and a history of brief CEO ventures, can Aigisos truly deliver on its promises, or is it just another flashy project destined to falter?
AnaisToncoin (TON) surged 12% on Thursday following Binance's announcement of its listing on 8 August at 6PM SGT, with withdrawals available 24 hours later. Will TON breakthrough its upper resistance or test its lower support?
KikyoIn Singapore, 65% of people now prefer AI-generated shopping recommendations, driven by a desire for a more personalized and efficient shopping experience. AI tools like LazzieChat from Lazada Group exemplify this trend, using advanced technology to enhance online shopping.
WeatherlyNesa, a Binance MVB-incubated Layer 1 blockchain that is the first to put over 1,000 AI models on-chain, has launched the Nesa Mascot Creation Contest with Stability World AI. Running until 17 August, the contest will award the winning design as Nesa’s official mascot and provide exclusive whitelist access to the top five entries.
Catherine
