Azerbaijan is monitoring CBDCs but has no plans to issue one, prioritizing monetary policy and financial stability, says Central Bank Governor Taleh Kazimov. Most central bank initiatives remain in pilot phases. China leads with its digital yuan.
The Bahamas’ DARE 2024 Act regulates cryptocurrency, introducing investor protection, KYC procedures, and stablecoin issuance rules. It prohibits algorithmic stablecoins and sets reporting standards, aiming to enhance market stability and investor security.
Futu Securities, Hong Kong’s largest online brokerage, has launched retail crypto trading for Bitcoin and Ethereum, offering incentives like Bitcoin and shares of Alibaba and Nvidia to attract new investors.
Crypto exchange BingX has launched BingX Labs, an investment arm to fund digital asset startups, offering technical, strategic, and market-making services to enhance user experience and foster blockchain innovation.
DeFi lending volumes hit $13.3B, matching early 2022 levels. Total Value Locked surged to $96.5B, doubling in H1 2024. DeFi tokens’ market cap remains low at 3.4% of total crypto market, indicating growth potential.
In July 2024, crypto attacks hit $266M, up 51% from June. WazirX lost $230M, Compound Finance $24M, and LI.FI $9.73M, underscoring the urgent need for better security in decentralized protocols.
Telegram unveils an in-app browser for 950M users, enabling decentralized web navigation on TON. The new mini-app store centralizes 500M monthly users and introduces new payment features, boosting popular apps like Hamster Kombat and Catizen.
Tucker Carlson, speaking at the Bitcoin 2024 conference, praised Bitcoin as a global payment system and criticized government control over money, emphasizing its potential to enhance personal freedom. He humorously speculated on the CIA’s role in its creation.
Aptos Foundation and OKX Ventures launch a $10M fund, Ankaa, to support blockchain projects in infrastructure, DeFi, gaming, social platforms, and AI. APT token dips 4% to $6.33 amid the unlock of 11.3M tokens.
Telegram, led by Pavel Durov, unveils a browser and mini-app store for TON-based sites, integrating browsing and messaging. Stars for in-app purchases debut on iOS and Android, enhancing Web3 experience for nearly one billion users.
The BIS and Bank of England launched Project Pyxtrial to monitor stablecoin reserves, providing near real-time data on liabilities and assets. This initiative aims to enhance regulatory oversight and detect issues proactively.
After the US Fed meeting, Bitcoin and altcoins sold off. Altcoin whales and Ethereum investors are accumulating, anticipating a rally from a potential rate cut in September. Sideways consolidation is expected until then.
Donald Trump’s Bitcoin-themed sneakers, priced at $299-$499, sold out in three hours. Resale values hit $2500. Trump’s campaign raised $331M in Q2 2024, including $3M in cryptocurrencies, highlighting digital assets’ mainstream acceptance.
South Korea’s Virtual Asset User Protection Act imposes supervisory fees on crypto exchanges Upbit, Bithumb, and Coinone, totaling 300 million won ($220,000) based on operating income, starting next year. Coinone and GOPAX face financial challenges.
