Binance's Italian Boom Meets Shopify's Solana Integration
USDC Takes the Stage, Nvidia's AI Tokens Shine, and Pendle Taps into Real-World Assets
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News
Binance's Success in Italy
Headlines: "Binance in Italia ha accumulato criptovalute per 385 milioni di euro in pochi mesi. Tutti i numeri del business - MilanoFinanza News", "Binance to Withdraw Debit Card in Latin America, Middle East"
Binance Italy, a subsidiary of Binance Holding, has accumulated €385 million worth of cryptocurrencies in just a few months. The Italian branch of the world's largest cryptocurrency exchange has seen significant interest and recorded approximately €3 million in revenue. However, Binance has announced that it will be discontinuing its crypto-backed debit card in Latin America and the Middle East. The decision was made without providing a reason, but Binance stated that less than 1% of its users in these regions would be affected.
Solana Pay's Integration with Shopify
Headlines: "Solana Pay x Commerce Platforms | Solana Pay x Shopify", "Shopify integrates with 'zero-fee' Solana Pay, prompting businesses to adopt crypto transactions", "Solana Pay integrates with Shopify for digital dollar currency payments", "Shopify to accept USDC payments with Solana: Report"
Solana Pay, a payment solution that allows merchants to accept cryptocurrency payments, has integrated with Shopify. This integration allows businesses on Shopify's platform to use Solana Pay for crypto transactions with zero transaction fees until 2024. The initial payment option for this integration is USDC, the second-largest stablecoin. Over 11 million active accounts on Solana will potentially gain access to Shopify businesses, which make up 10% of total U.S. e-commerce and $444 billion of global economic activity.
US Treasury Sanctions Tornado Cash Co-Founder
Headlines: "Treasury Designates Roman Semenov, Co-Founder of Sanctioned Virtual Currency Mixer Tornado Cash", "Tornado Cash’s Semenov added to US government sanctions list"
The US Treasury has designated Roman Semenov, the co-founder of Tornado Cash, a virtual currency mixer that has been sanctioned. This move is part of the Treasury's efforts to crack down on illicit financial activities and prevent money laundering. Tornado Cash co-founder Roman Semenov has been added to the US government's sanctions list. The US Department of the Treasury's Office of Foreign Assets Control (OFAC) announced that Semenov has been added to its Specially Designated Nationals list.
USDC Expands to New Blockchains
Headlines: "USDC launching on Polygon PoS, Base and Polkadot blockchains"
The USDC stablecoin, founded by Circle and Coinbase, is expanding its presence by launching on six new blockchains, including Polygon PoS, Base, and Polkadot. This move comes after Coinbase acquired a stake in Circle and the disbandment of the Centre Consortium. The addition of these new blockchains aims to boost adoption of USDC, which has been losing market share to Tether.
AI-Related Cryptocurrencies Gain After Nvidia's Earnings Report
Headlines: "AI-Related Tokens Hold Gains After Nvidia's Big Beat Solidifies Bullish Outlook", "Nvidia's Make-or-Break Earnings Could Be Huge for AI-Tied Crypto Tokens"
AI-related cryptocurrencies are holding gains after Nvidia's strong second-quarter earnings report. Nvidia exceeded revenue and earnings estimates, and also provided a bullish outlook for the third quarter. Tokens such as FET, GRT, INJ, RNDR, and AGIX have all seen gains of over 4% in the past 24 hours. This positive sentiment towards AI, coupled with the mainstream adoption of AI technologies, has boosted AI-related cryptocurrencies.
Pendle Finance Introduces Real-World Assets Product
Headlines: "Pendle Finance Users Can Now Profit From Real World Assets"
Pendle Finance has introduced a new product that allows users to profit from real-world assets (RWA) by using MakerDAO's Boosted Dai Savings and Flux Finance's fUSDC stablecoin. RWA tokenization enables on-chain access to traditional finance instruments such as U.S. Treasury Bonds, attracting institutional investors to DeFi.
FTX's Bankruptcy and Galaxy Digital's Role
Headlines: "FTX Taps Galaxy to Sell, Stake and Hedge Its Crypto Billions", "FTX Bankruptcy Burning Through $1.5M in Legal Costs Every Day"
FTX, a bankrupt crypto exchange, plans to sell, stake, and hedge its crypto holdings worth $3 billion. It aims to hire Galaxy, an advisor from Mike Novogratz's Galaxy empire, to maximize the value of the sales. FTX wants to return funds to creditors in fiat currency instead of BTC or ETH and hopes careful trading can prevent a decrease in the value of its crypto holdings.
Bitcoin's Potential Price Surge After Halving
Headlines: "Bitcoin Dreams Are Coming True in Argentina and Turkey", "Bitcoin halving can take BTC price to $148K by July 2025 — Pantera Capital", "Bitcoin price could reach $148,000 after halving: Pantera Capital"
Bitcoin halving is expected to drive the price of BTC to $148,000 by July 2025, according to Pantera Capital. The firm believes that Bitcoin's price performance is heavily influenced by its halving cycles, and historical trends suggest that the price tends to bottom out and then rise significantly after each halving.
Bitstamp Ends Ether Staking in the US
Headlines: "Bitstamp ending ether staking services in the US", "Bitstamp to Stop Ether Staking in U.S. Amid Regulatory Scrutiny"
Bitstamp, the crypto exchange, will be ending its ether staking program for U.S. users starting from next month. This decision comes in response to the challenging regulatory environment in the U.S., with the Securities and Exchange Commission (SEC) targeting staking services and requiring them to be registered as securities.
Smart Money Traders Increase dYdX Token Holdings
Headlines: "‘Smart money’ traders seemingly increasing dYdX token holdings: Nansen"
According to data from Nansen, "smart money" traders have been accumulating dYdX's governance token. These experienced traders, including top DEX traders, liquidity providers, and venture funds, have steadily increased their holdings of dYdX tokens.
Source Network's Launch
Headlines: "Launch Spotlight: Source Network"
Source Network is a decentralized data management infrastructure ecosystem that aims to extend the ethos of blockchains to off-chain data management. It consists of two core components: DefraDB, a peer-to-peer user-centric privacy-preserving NoSQL database, and SourceHub, a Cosmos SDK blockchain that serves as the trust layer for DefraDB.
Central African Republic's Plan to Tokenize Natural Resources
Headlines: "Central African Republic Eyes Tokenizing Its Natural Resources"
Despite the lukewarm response to Sango Coin, the Central African Republic (CAR) has approved the tokenization of its natural resources. The CAR aims to position itself as a preferred business destination in Africa by streamlining online business license and visa applications. The Sango project, which launched last year, enables investment in CAR through Sango Coin, a state-issued token backed by Bitcoin.
As always, stay tuned for more updates in crypto!