Students should be among the earliest adopters of Web3, but they’re currently not using the technology, says Benjamin Sturisky, research analyst at Delphi Digital and president of Gator Blockchain. Source
Facing Up to Crypto’s Gen Z Stigma
Category: ICO
Matter Labs Restructures, Lays Off 16% of Team
The company made the move to adapt to “the different type of technology and support” that developers building on ZKsync now require. Source
SEC Commissioner Mark Uyeda Calls for S-1 Form Tailored for Digital Assets
The agency’s current form, the primary application companies must fill out to register securities in the U.S., does not do justice to digital assets and other unusual financial products, Uyeda said. The regulator has not done enough for digital asset products looking to register in the country, he said. Source
Qatar Brings in Crypto Rules Framework in a Sign of Web 3 Development in the Middle East
“As compared to other Middle Eastern countries, Qatar’s approach is notably advanced, offering a more structured and clear regulatory environment,” said Navandeep Matta, a senior associate at Kochhar & Co. Legal. “This positions Qatar at par with the UAE’s Digital Assets Framework, establishing a robust regulatory regime that aligns with international best practices.” Source
Detained Binance Exec Begs Prison Guard for Help in New Court Footage
At first, Gambaryan and his colleague Nadeem Anjarwalla, Binance’s regional manager for Africa and a dual Kenyan-British national, were placed under house arrest. But when Anjarwalla escaped under mysterious circumstances in March, Gambaryan was transferred to the notoriously dangerous Kuje prison and charged with tax evasion and money laundering – seemingly as a scapegoat for his employer, which Nigerian officials have accused, without evidence, of tanking the value of the national currency, the naira. Source
Key Week for Bitcoin (BTC) and the Dollar Index (DXY)
That said, July’s weaker-than-expected ISM PMI, released Aug. 1, triggered recession fears, weighing on risk assets even as the dollar dropped. BTC fell 3.7% to $62,300 that day. Traders, therefore, should watch out for a “growth scare” should the PMI come in worse than expected. Source
Brevan Howard-Backed Real-World Asset (RWA) Tokenization Firm Libre Arrives on NEAR Blockchain
Libre, a startup focused on tokenizing financial assets in partnership with Nomura’s Laser Digital, Brevan Howard’s WebN group and private markets giant Hamilton Lane, is adding several digitized funds to the NEAR blockchain, enabling tokenized real-world assets (RWA) to be transferred across multiple blockchains. Source
Donald Trump Regains Lead Over Kamala Harris On Polymarket
Odds of Trump winning the November elections surged to highs of 71% in July before tumbling to lows of 44% in August as incumbent Joe Biden said he would not contest before Harris was announced as the candidate. Her chances rose to over 55% in early to mid-August to emerge as a favorite. Source
OKX Receives Major Payment Institution License in Singapore
Singapore has a reputation of being a world-leading crypto hub as it provides clear guidelines on how cryptocurrency firms should operate. Source
Bitcoin (BTC) Drops Toward $57.5K, Extends Weekly Loss to 10% at Start of Seasonally Bearish September
“September is a historically negative month for Bitcoin, as data shows it has an average value depletion rate of 6.56%,” Innokenty Isers, founder of crypto exchange Paybis, said in a Monday email. “Should the Feds cut the interest rate in September, it might help Bitcoin re-write its negative history as rate cuts generally lead to excessive US dollar flow in the economy – further strengthening the outlook of bitcoin as a store of value.” Source