US leads in crypto funding 🇺🇸, Bitcoin Lightning Network ✅, Return to Ethereum ecosystem 🪃
Daily Crypto, Blockchain & Web3 Update 2023-07-17
CRYPTOCURRENCY
US ‘dominates’ crypto startup funding in Q2: Report (2 min read)
United States-based crypto startups attracted 45% of all venture capital funding invested in the crypto industry, followed by the United Kingdom (7.7%) and Singapore (5.7%).
Despite facing regulatory scrutiny in the United States, crypto firms continue to innovate, with nearly half of all capital investments flowing toward U.S. crypto businesses, according to a recent report.
National Australia Bank joins crypto exchange boycott, cites ‘scams’ (2 min read)
Another major bank in Australia has said it will block certain cryptocurrency platforms, citing high levels of scam risk in the industry.
On July 17, National Australia Bank (NAB) announced a set of new measures to protect customers from fraud as part of its “bank-wide scam strategy.”
Binance completes integration of Bitcoin Lightning Network (1 min read)
Cryptocurrency exchange Binance has completed the integration of the Bitcoin Lightning Network on its platform for BTC withdrawals and deposits.
The development was confirmed by Binance in a July 17 blog post, where they noted that Binance users can now use the layer-2 scaling solution for BTC withdrawals and deposits.
Senator Lummis urges clear crypto regulations after XRP ruling (3 min read)
The outcome of the case could establish a precedent that shapes the regulatory landscape for digital assets in the United States.
United States Senator Cynthia Lummis has taken to Twitter to emphasize the significance of a recent court ruling by Judge Analisa Torres, which declared that Ripple’s XRP token should not be considered a security when sold on digital asset exchanges.
Aave Protocol launches stablecoin GHO on Ethereum mainnet, $2M minted (3 min read)
Decentralized finance protocol Aave has finally launched its new algorithmic dollar-pegged stablecoin, GHO on Ethereum.
Decentralized finance (DeFi) protocol Aave has launched its algorithmic United States-dollar pegged stablecoin GHO on the Ethereum mainnet, with $2.19 million worth of GHO minted so far.
QUICK LINKS
Unstoppable Domains adds .eth domains through Ethereum Name Service (3 min read)
Unstoppable Domains and Ethereum Name Service have dominated the decentralized domain name space as competitors, until now.
Two of the biggest platforms powering Web3 decentralized domains are now available under one roof after Unstoppable Domains announced support for .eth domain names from the Ethereum Name Service (ENS).
Celo blockchain proposes return to Ethereum ecosystem, transition to L2 (2 min read)
The Celo transition will use OP Stack as the architecture to become an Ethereum L2 blockchain.
CLabs, the organization behind the Celo blockchain, wants to move back to the Ethereum ecosystem. They plan to switch from being an independent blockchain to using an Ethereum layer-2 solution.
AnubisDAO’s rug-pulled 13.5K ETH washes away on Tornado Cash (3 min read)
After almost two years, the stolen 13,556 ETH, worth nearly $60 million at the time, amounted to almost $26.2 million at the time of writing.
The stolen funds from the AnubisDAO project, which was worth almost $60 million in Ether, were taken away using Tornado Cash.
A simple tile game is spiking daily txs on Sui Network: Data platform (3 min read)
Launched in October, Sui 8192 is a fully-on-chain tile-sliding puzzle game that records each move as a transaction on the Sui Network.
The Sui Network has experienced a significant increase in daily transactions due to a blockchain game. Some data platforms claim it has even surpassed Solana in network activity.
Ripple decision is ‘troublesome on multiple fronts,’ says former SEC official (3 min read)
John Reed Stark, a former Securities and Exchange Commission official, criticized the recent ruling on Ripple Lab's case. He described the decision as problematic in multiple ways.
Stark analyzed Judge Torres' favorable ruling for Ripple in the SEC lawsuit over XRP token's security status.