Tether CEO Paolo Ardoino calls for more investment in decentralized tech after a global IT outage on July 19. The disruption, caused by a technical issue with CrowdStrike’s software, highlights the need for resilient technologies. $USDT @Tether_to #Decentralization
Web3’s rapid innovation may hinder adoption as 1,000+ blockchains create user confusion. Chain abstraction could simplify interactions and boost mainstream acceptance. Simplifying user experience is key for web3’s growth. #Update #cryptocurrency #blockchain
In the week of July 13-20, 2024, 22 crypto projects secured $82.6M in funding. Leading were @Allium with $16.5M and @Chainbase with $15M. Significant investments include Mira’s $9M and Caliza’s $8.5M. Smaller projects like Haruko raised $6M. #Update #CryptoInvestments
Bitcoin surges above $66K (+4.7%), highest since June. $ETH climbs past $3,500 (+3%), $SOL over $170 (+8%). Short positions see $6M liquidated in the last hour. Altcoins $BNB, $DOGE, and $ADA also gain. #CryptoNews
Hong Kong’s Monetary Authority unveils stablecoin sandbox participants, including Standard Chartered and Animoca Brands, to foster responsible stablecoin development. The sandbox, launched in March 2024, ensures a risk-controllable framework without handling public funds initially. This aligns with international standards for financial stability. #Update #stablecoin #HKMA
Blockchain security firm @ResonanceSec unveils Harmony, a tool to protect web3 sites from DNS and CDN manipulations. Harmony detects unauthorized changes in real-time using AI, helping crypto projects avoid cyberattacks. #CyberSecurity #Update
BlockFi will start compensating U.S. clients via @Coinbase in July 2024 after concluding bankruptcy proceedings. The delays were due to regulatory challenges. Partnerships with Three Arrows Capital and FTX resulted in settlements of $409M and $874.5M. #Crypto #Update
Bitcoin ($BTC) surged to $66K and Ethereum ($ETH) surpassed $3,500, leading to over $50M in short liquidations within 24 hours. Data shows $BTC had $30M and $ETH had $21M in short liquidations. The total market saw $155M liquidated. Analysts highlight positive sentiment and institutional inflows. #Update
Japan’s @Soramitsu_Labs will pilot a central bank digital currency (CBDC) in Papua New Guinea, aiming to boost financial inclusion and security. Previously, their CBDC in Cambodia achieved 10M+ accounts, covering 60% of the population. #Update #Blockchain
Crypto market set to surge in late 2024 with Ethereum ETF launch. Key altcoins to watch: $DAWGZ, $SHIB, $SOL, $HNT, and $TON. Notable mentions: @BaseDawgz raised $2.536M, $SHIB up 150%, $SOL & $HNT gain traction. #Update
.@VitalikButerin calls out low investment in Web3 infrastructure, favoring niche, high-revenue projects like “casinos.” This trend hurts open-source startups vital for decentralization. He urges a shift in investment strategy for sustainable growth. #Web3
Akshay Nassa, CEO of Chimp Exchange, predicts decentralized exchanges (DEXs) could surpass centralized exchanges (CEXs) like @Binance and @Coinbase within five years, thanks to advancements in security and scalability. #Crypto #Update
Donald Trump was shot in the ear at a Pennsylvania rally but is “fine” and will attend the RNC. Bitcoin surged from $58,000 to $63,218, with the crypto market cap increasing by 5% to $2.29T. #Update #Bitcoin #Crypto
SATS, the native token of the Satoshi Network, surged 63% this week, leading the top 200 cryptocurrencies. Despite an 8% dip in 24 hours, SATS is up 3,999% year-over-year. #Update #CryptoNews $SATS $BTC
