Bitcoin Frontier Fund startup program💥, Singapore stablecoin framework🇸🇬, Dubai lures AI, Web3 enterprises🧀
Daily Crypto, Blockchain & Web3 Update 2023-08-15
CRYPTOCURRENCY
Bitcoin Depot Q2 revenue jumps 18% y/y as it plans ATM adds after NASDAQ listing (3 min read)
United States based Bitcoin ATM operator Bitcoin Depot said it posted its best ever revenue numbers in the second quarter of 2023 as the company looks to expand its footprint after recently being listed on the NASDAQ.
Bitcoin Frontier Fund launches accelerator program for Ordinals startups (3 min read)
The Bitcoin Frontier Fund, formerly Stacks Ventures, launched what it’s calling the first Bitcoin Ordinals accelerator program on Aug. 14. The program will provide seed money, mentoring, and support to approved applicants.
Bitcoin-friendly Javier Milei wins most votes in Argentina primary election (2 min read)
An Argentine politician who has previously spoken positively about Bitcoin and called for the abolishment of his country’s central bank has taken the lead in the country’s presidential open primary elections.
Singapore central bank releases regulatory framework for stablecoins (2 min read)
Singapore's central bank has released a revised regulatory framework aimed at ensuring stability for single-currency stablecoins (SCS) regulated in the city-state. The framework outlines requirements for stablecoin issuers to meet to be deemed regulated by the Monetary Authority of Singapore.
Dubai lures AI, Web3 enterprises with 90% subsidized commercial licenses (2 min read)
Dubai, UAE is now giving commercial licenses to AI and Web3 businesses at a 90% subsidy. This is part of their plan to create the biggest group of new tech companies in the Middle East and North Africa.
BUSINESS
TeraWulf increases self-mined BTC in Q2, while Hut 8 looks to USBTC merger (3 min read)
Bitcoin (BTC) mining firm TeraWulf has seen a drastic increase in BTC rewards since increasing its mining capacity in the first half of 2023.
TeraWulf mined 1,441 BTC in the first half of the year, according to their filing with the SEC. 508 BTC were mined in Q1, while the firm added another 375 self-mined BTC to its balance sheet in Q2.
Base project RocketSwap shares emergency plan following $865K exploit (2 min read)
Base project RocketSwap Labs has outlined its emergency program to bounce back from a brute force hack that swiped $865,000 or 471 Ether from the protocol on Aug. 14.
Immutable zkEVM begins testnet phase with 12 Web3 games in development (3 min read)
Web3 gaming platform Immutable has commenced public testing of its Immutable zkEVM in collaboration with Polygon Labs.
Work on the zero-knowledge Ethereum Virtual Machine (zkEVM) network began in March after Immutable announced a partnership with Polygon Labs. Polygon’s own “holy grail” Ethereum-scaling zkEVM hit the mainnet on March 27.
QUICK LINKS
Chinese man sentenced to 9 months in prison for buying $13K in USDT (2 min read)
An individual, identified only as “Mr. Chen,” has been convicted by the Fuzhou Mawei People’s Procuratorate on charges of “offense of concealment and concealment of crime” for purchasing 94,988 Chinese yuan ($13,067) worth of Tether for an acquaintance.
New Zealand crypto exchange Dasset enters liquidation (2 min read)
Customers of Auckland, New Zealand-headquartered crypto exchange Dasset have been denied access to their funds, and the company’s representative has revealed the beginning of its liquidation.
FedNow showcases DLT-powered payments system as service provider (2 min read)
The United States Federal Reserve’s instant payment system, FedNow, has added a company powered by the distributed ledger technology (DLT) platform Hedera Hashgraph to its list of service providers.
13% of applications approved: British regulator discloses crypto registration stats (2 min read)
Since January 2020, 291 crypto companies have applied for registration with the principal financial regulator of the United Kingdom, the Financial Conduct Authority (FCA). Only 13% of them successfully obtained a permit to operate in the country.