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- Microstrategy Buys Another 420 BTC 🪙💰 FTX Unveils Reboot Plan Under New Leadership 📈
Microstrategy Buys Another 420 BTC 🪙💰 FTX Unveils Reboot Plan Under New Leadership 📈
Nomura's crypto subsidiary secures Dubai VARA License. Binance set to re-enter Japan market.
Manan Vora
August 02, 2023
Snapshot Web3
August 2, 2023
Regulatory Updates
Laser Digital, a subsidiary of Nomura, secured a license from Dubai's Virtual Asset Regulatory Authority (VARA). The license allows them to offer broker-dealer services and virtual asset management in Dubai. This move strengthens Nomura's presence in the digital asset space. Dubai's growing crypto ecosystem and regulatory framework have attracted global attention, with Binance's Dubai subsidiary also receiving a similar license recently. Laser Digital's entry enriches the diversity of players in the region's digital asset market.
Innovation and Launches
Binance, the world's largest cryptocurrency exchange, is re-entering the Japanese market on August 14 with 34 token listings, including its native token, BNB. Binance aims to provide comprehensive services to Japanese customers after acquiring regulatory compliance through Sakura Exchange BitCoin (SEBC). This move comes as rival exchanges like Coinbase and Kraken have halted their operations in Japan.
The Bank of England (BoE) explores Ripple's Interledger Protocol for payment settlement, successfully integrating it with two simulated RTGS systems. The protocol aims for synchronized payment settlement, offering faster cross-border transactions. This signals increasing interest in blockchain-based solutions among central banks and may lead to further adoption in the financial sector. The BoE's successful integration showcases its commitment to leveraging emerging technologies for improving payment settlement processes.
Consensys has launched Fuzzing, an automated tool for smart contract auditing on Ethereum. Fuzzing uses random inputs to detect vulnerabilities, offering efficient and comprehensive auditing. Integration with Scribble allows secure deployments on the Ethereum mainnet. The tool aims to set new industry standards for smart contract security.
Trending DApps
NFT and Metaverse
Crypto exchange Kraken is partnering with Williams Racing's Formula 1 team, offering fans the chance to choose an NFT to appear on racecars at the U.S. Grand Prix. Winners can select their favorite NFT for display on one of two cars. Kraken aims to enhance engagement and expand its customer base through this initiative, showcasing customer-owned digital collectibles (KrakenNFTs) on its F1 cars throughout the season. The exchange seeks to attract more customers and boost trading volumes in the U.S. despite regulatory uncertainties.
Resource of the Day
What is a blockchain bridge in crypto? How does it work? Ever since new blockchains started popping up after the creation of Bitcoin’s blockchain in 2008, there has been a prevailing problem, that is, lack of interoperability. So there has always been a need to solve this problem to ideally make the whole crypto ecosystem work as a team. With a crypto bridge, you're able to move your assets to different blockchains and enjoy the benefits that may be native to certain ecosystems. Find out why we need blockchain bridges, and the different types of bridges available.
Interesting Reads
Toyota Gazoo Racing's GR Cup will now award digital trophies and record driver performances on the Polygon blockchain. The on-chain awards system includes digital trophies for podium finishers and race statistics. The move aims to showcase drivers' achievements on the blockchain, enabling fan interaction. Toyota's Gazoo Racing league offers equal opportunities by starting drivers with a stock vehicle and standardizing their hardware at the TRD garage. Toyota has been involved in blockchain technology since 2016 and has its Toyota Blockchain Lab. The next races in the series will be held at the Big Machine Music City Grand Prix in Nashville.
Quick Links
MicroStrategy has added another 420 BTC to its holdings, bringing the total to 152,800 BTC worth $4.46 billion. The average purchase price for its BTC holdings is $29,672. The company's Q2 revenue was $120.4 million, down 1.4% from last year, but operating expenses decreased significantly due to lower impairment losses on BTC holdings. MicroStrategy's core business is reportedly insulated from Bitcoin price volatility. The company's cash holdings have also increased to $66 million. MicroStrategy's executive chairman, Michael Saylor, remains a strong advocate for BTC and is the firm's largest shareholder.
FTX Trading, the bankrupt crypto exchange, plans to "reboot" under new leadership. The draft plan offers claimants equity securities, tokens, or interests in a new offshore company. Claims are categorized, and three recovery pools are proposed. FTT holders are not considered, and non-customer claims are prioritized less. The plan is open to amendments based on stakeholder feedback.
Binance CEO tried to shut down Binance.US to protect the company's interests, but the board didn't agree. Binance.US CEO opposed the shutdown, fearing customer harm. The US branch has faced challenges, including an SEC lawsuit and a drop in market share. Speculation about downsizing or closure has arisen.
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The information provided in this newsletter is for informational purposes only and should not be interpreted as investment advice, endorsement, or recommendation. Cryptocurrency investments carry significant risk due to their volatility. You should consider your financial situation, investment goals, and risk tolerance before making any investments. We strongly recommend consulting a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results.
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