Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
NFT News
Heavily-backed social network Nifty’s, which pivoted to developing a Web3 creators platform, is shutting down. The team said that despite their efforts, the investment opportunities they were working on didn’t pan out, leading them to wind down their operations. Notable names such as Mark Cuban, Joe Lubin, Coinbase Ventures, and Dapper Labs had backed the project.
Legal News
- eToro Aus Capital Limited, the Australian entity of investing platform eToro, has been sued by Australia’s Securities and Investments Commission (ASIC) for alleged breaches of their design and distribution obligations. Additionally, ASIC argued that eToro’s target market for the CFD product was too broad, and that the screening test was inadequate to assess client suitability.
- Bankrupt crypto exchange FTX filed a motion in court to remove its Dubai unit from ongoing restructuring proceedings in the USA. FTX Dubai is balance-sheet solvent, so a voluntary liquidation procedure in accordance with the laws of the United Arab Emirates would allow a timely distribution of the positive cash balance. A hearing on this matter will take place on August 23.
Blockchain News
- The Tel Aviv Stock Exchange (TASE) signed a groundbreaking agreement with the Fireblocks platform to manage digital asset operations and build businesses on the blockchain. This strategic partnership will enable TASE to provide institutional-grade digital asset solutions for regulated entities, and offer innovative and secure digital asset products and services. This collaboration builds upon the success of ‘Project Eden’, an initiative in which the TASE and the Israeli Ministry of Finance partnered to issue a government digital bond on a dedicated blockchain platform.
- Aventus, built on the Polkadot Network, announced its collaboration with telecommunications giant Vodafone. This partnership will consist of Vodafone connecting its Economy of Things Digital Asset Broker (DAB) platform with Aventus, to facilitate trading and exchanging data electronically. Vodafone DAB will also become a validator of Aventus Network.
Web3 News
Web3 developer platform Alchemy released its quarterly ‘State of Web3’ developer report, after surveying 625 Web3 developers in Q2 2023. The report found that SDK installs and EVM smart contracts continued rising, while DeFi and NFT trading volumes slumped. Security, account abstraction, and ZK-rollups gained traction following Ethereum co-founder Vitalik Buterin’s ‘The Three Transitions’.
Investment News
Digital asset technology firm Crossover Markets Group, Inc. announced its partnership with Cboe Digital, a US-based regulated exchange and real-time clearinghouse for spot cryptocurrencies and futures. This collaboration offers a clearing solution for trades across multiple digital asset execution platforms and expands Crossover’s data center footprint.
Exchange News
HashKey Exchange, a virtual asset exchange based in Hong Kong and a part of the digital asset financial services group HashKey Group, received Hong Kong’s first license given to a cryptocurrency exchange to serve retail customers. The platform also announced a brand revamp, and will now provide both professional investors and retail users with more secure and convenient virtual asset trading experiences. In addition, HashKey Exchange opened the only compliant off-platform trading (OPT) services in the Asia-Pacific region.
