Headlines
Odaily Planet Daily News: Analisa Torres, a district judge in the Southern District of New York, ruled that Ripple did not violate federal securities laws by selling XRP programmatically to retail customers through trading platforms. However, Ripples 1,278 institutional sales transactions violated securities laws and fined it $125.035 million, far less than the $1 billion in disgorgement and prejudgment interest and $900 million in civil penalties required by the SEC.
The SEC unsuccessfully attempted to appeal this portion of the ruling while the case was pending.
On Wednesday, Judge Torres also prohibited Ripple from violating federal securities laws in the future, saying that while she did not determine that Ripple had violated any laws after the SEC filed its lawsuit, it was likely overstepping the line when it came to its On-Demand Liquidity (ODL) product.
The injunction requires Ripple to file a registration statement if it intends to sell any securities. (CoinDesk)
Grayscale launches two new crypto trusts, SUI and TAO
Odaily Planet Daily News Grayscale announced the launch of two new crypto investment products, Grayscale Bittensor Trust and Grayscale Sui Trust. The former invests in Bittensors native token TAO, while the latter only focuses on investing in Sui Protocols SUI token. (TheBlock)
Odaily Planet Daily reported that according to local media in Montenegro, the Montenegrin Supreme Court Committee will decide by the end of this week whether to postpone the extradition of Terraform Labs co-founder Do Kwon to South Korea. The Office of the Supreme Prosecutor of Montenegro has requested the Supreme Court to review the legality of the decision made by the Montenegrin Court of Appeal and proposed to postpone the execution of the decision. The Prosecutors Office believes that the decision of the Court of Appeal violates the Law on International Legal Assistance in Criminal Matters. (vijesti)
Industry News
Odaily Planet Daily News: Japanese listed company Metaplanet Inc. announced that it has obtained a loan of 1 billion yen (0.1% APR), and the proceeds will be used to purchase additional BTC.
A few days ago, Metaplanet Inc. announced that it would issue 10.08 billion yen (69.5 million U.S. dollars) of stock acquisition rights free of charge, and the proceeds will be used to purchase additional Bitcoin.
Grayscale, Bitwise, and NYSE Seek SEC Approval for Options Trading on Three Spot Ethereum ETFs
Odaily Planet Daily News: Grayscale and Bitwise jointly with the New York Stock Exchange submitted a rule change proposal to the US SEC, seeking to list and trade options on the Bitwise Ethereum ETF, Grayscale Ethereum Trust and Grayscale Ethereum Mini Trust.
The document states that these options will provide investors with an additional, relatively low-cost investment tool, while serving as a hedging tool to meet investors investment needs for Ethereum products and positions. The public comment period for the proposal is 21 days. (The Block)
Yesterday, it was reported that BlackRock and Nasdaq submitted an application for spot Ethereum ETF options to the SEC.
Bloomberg analyst: BlackRock will drop its own brand in its active ETFs and switch to iShares brand
Odaily Planet Daily News: Eric Balchunas, senior analyst at Bloomberg ETF, wrote in an article on X: BlackRock will abandon the BlackRock brand in its active ETFs and use the iShares brand instead. This makes sense. It is necessary to use brand influence.
Odaily Planet Daily reported that the financial report released by Robinhood, a stock and cryptocurrency trading brokerage platform, showed that the companys net revenue in the second quarter was US$682 million, while analysts expected US$641.5 million; the number of monthly active users in the second quarter was 11.8 million, while analysts expected 13.2 million; the transaction-based revenue in the second quarter was US$327 million, while analysts expected US$296 million.
Cryptocurrency revenues in the second quarter reached $81 million (market expectations were $84.3 million), up 161% year-over-year, twice the companys equity trading revenues for the quarter. Cryptocurrency trading volume reached $21.5 billion, up 137% year-over-year.
The financial report shows that the companys largest source of revenue in the quarter was options, which generated a total of $327 million in revenue. (The Block)
Virtual Bank Mox Bank Launches Cryptocurrency ETF Trading Service for Retail Investors
Odaily Planet Daily reported that virtual bank Mox Bank has begun to provide spot cryptocurrency ETF trading services. In a press release on August 7, Mox stated that Mox has become the first virtual bank in Hong Kong to provide such investment options for retail investors, and will launch various cryptocurrency ETFs permitted by Hong Kong regulations, including spot and derivative futures ETFs listed on Hong Kong and US exchanges, such as BTC and ETH.
To attract clients, the bank will charge a transaction fee of 0.12% of the transaction value for Hong Kong-listed ETFs and US-listed ETFs. Mox added that it will not charge any additional custody or management fees beyond the fees charged by the asset management company that manages the specific ETF. (crypto.news)
Odaily Planet Daily reported that Bitcoin mining company Core Scientific (CORZ) said in a statement that it has exercised the option in a previous contract to host approximately 112 megawatts (MW) of additional GPUs for artificial intelligence hyperscale company CoreWeave.
The new contract, which takes effect from the first half of 2026, is expected to generate approximately $2 billion in additional revenue, bringing total revenue to $6.7 billion. CoreWeave will cover all capital investment costs required to prepare Core Scientific’s existing mining infrastructure for HPC, the statement added.
Core Scientific shares surged 17% on Tuesday, outperforming other cryptocurrency-related stocks. (CoinDesk)
Paris Olympics venues hit by cyberattack, hackers demand cryptocurrency ransom
Odaily Planet Daily reported that hackers recently launched cyber attacks on the 2024 Paris Olympic venues and dozens of museum shops in France, and allegedly demanded a ransom in cryptocurrency.
Cyber attackers attacked the data processing systems of around 40 French tourist attractions over the weekend and stole sensitive financial data, Le Parisien reported. The attacked tourist attractions included the Grand Palais museum, which will host the martial arts and fencing events for the 2024 Paris Olympics.
The hackers threatened to release the travel website’s financial data unless a ransom in cryptocurrency was paid. France’s anti-cybercrime brigade (BL2C) is investigating the attack and the ransom demand.
According to Paris authorities, the attack had no impact on the Olympic program. Meanwhile, the museums tourist shop that was attacked remained open as of press time. (Decrypt)
Project News
According to official news from Odaily Planet Daily, Gitcoin Grants 21 has been officially launched and will last until 23:59 UTC on August 21. The theme of this round of grants is to work with partners and empower external communities. This round includes Celo and Arbitrum ecosystem rounds and 9 community rounds. Users no longer need to collect Passport stamps, and Gitcoin Grants Stack provides technical support.
Ethena and Solana Integration Expand USDe Access and Add SOL as Supported Asset
Odaily Planet Daily News Ethena Labs announced its integration with Solana, allowing users to buy and sell its USDe stablecoin on Solana. In addition, Ethena has added SOL as a supporting asset. In a statement, Ethena said that in addition to enhancing the strength and security of USDe support, it will unlock an additional $2 billion to $3 billion in open contracts in the SOL futures market, enabling USDe to continue to scale. (TheBlock)
According to official news from Odaily Planet Daily, Blast announced that the second round of distribution of the second phase of Gold (gold points) has been launched, with a total of 11 million Gold distributed to DApps. For this distribution, the official has reserved 10 million Gold for existing DApps on the Blast mainnet and 1 million Gold for newly launched DApps. More details about the next Big Bang competition will be announced in the coming weeks.
Starting this month, DApps can allocate Gold directly to assets, and the exact mechanism needs to be approved by the Blast Foundation on a case-by-case basis. The allocation mechanism must be in the best interest of users and DApp development.
In order to further develop the Blast native asset ecosystem, a new Culture category has been officially introduced. Projects that significantly promote Blast native culture and community are included in this category, with tokens receiving 50,000 Gold and NFT projects receiving 25,000 Gold. Note: This is a new experimental category and may change.
Odaily Planet Daily News Scroll announced at X that it will upgrade Darwin Proof Recursion on August 21. This upgrade will reduce the gas fee by about 34%.
With the Darwin hard fork, multiple batches of proofs will be bundled into one validity proof, reducing verification costs. Scroll will deploy the upgrade on the Scroll Sepolia testnet on August 14, and then on the mainnet.
Ronin: Received the last 2 million USDC returned by white hat hackers
Odaily Planet Daily reported that Ronin posted a message on X early this morning, saying that it had received the last 2 million USDC returned by the white hat hacker.
Last night, Ronin announced on the X platform that the white hat hacker has returned about $10 million in ETH, and USDC is expected to be returned later, thanks to the white hats vigilance and integrity. The bug bounty program will reward the white hat with a bounty of $500,000. The Ronin bridge will be audited before reopening, and will provide updates as the audit progresses.
Immutable to shut down Immutable X marketplace on August 13
Odaily Planet Daily News Immutable recently announced that it will close its Immutable X market on August 13 and cease operations on September 27. The Immutable X market was originally launched to demonstrate the capabilities of the Immutable SDK, and now it will focus on supporting third-party markets rather than maintaining its own trading platform. However, users of the Immutable market do not need to take any additional steps for their assets. All NFTs and tokens are stored on the blockchain, tied to the users wallet address, and can be accessed in different markets using the Immutable global order book. (NFT Plazas)
Odaily Planet Daily News: Symbiotic, a re-pledge protocol invested by Paradigm and Lido, issued a statement on X that due to a temporary problem with the domain name registrar, the front end of the Symbiotic website is currently unavailable. All funds are safe, the problem should be resolved soon, and users who need to interact immediately can execute directly through the contract.
gm.ai: The second season of airdrops will be launched within 24 hours
Odaily Planet Daily News gm.ai posted on the X platform that it will launch the second season airdrop event within 24 hours, including three on-chain tasks:
Deposit SOL to the GM wallet;
Conduct Solana token transactions;
Trade GMCAT in GM Wallet.
Pacmoon: 50% of the project supply has been destroyed
Odaily Planet Daily News: Pacmoon, a meme project of Blast Ecosystem, announced on the X platform that it has destroyed 50% of the project supply, which means that the PAC shares held by users have increased by 100%. In addition, Pacmoon also stated that an announcement will be released soon.
Cyvers Alerts: Nexera is suspected of being attacked, with losses of approximately $1.5 million
Odaily Planet Daily News Cyvers Alerts system detected suspicious transactions involving Nexeras proxy contract. An address took ownership of Nexeras proxy contract and upgraded it. The address then transferred all NXRA tokens using the withdrawal function. The address is currently exchanging tokens for ETH, and some funds have been cross-bridged to the BNB chain. The total loss is estimated to be approximately US$1.5 million.
Regulatory trends
Odaily Planet Daily News: The head of Japans financial regulator said that careful consideration is needed when deciding whether to follow Hong Kong and the United States in approving cryptocurrency-linked exchange-traded funds. Hideki Ito, director of the Financial Services Agency of Japan, said that many people believe that crypto assets may not necessarily contribute to the creation of wealth for the Japanese people in a stable and long-term manner, and other countries are currently taking a more conservative stance on cryptocurrency investments by retail investors. Ito said that the agency hopes to maintain a pro-technology stance and will not completely rule out the possibility of cryptocurrency ETFs, but may need to consider some things in terms of whether the public should be encouraged to invest in these products. (Bloomberg)
Indias finance minister says no plans to regulate sale and purchase of cryptocurrencies
Odaily Planet Daily News: Indian Finance Minister Pankaj Chaudhary said that India has not conducted any research or survey to understand the extent of its citizens adoption of cryptocurrencies, and said: Crypto assets or virtual digital assets (VDA) are not regulated in India, and India does not collect data on these assets. (Cointelegraph)
Investment and Financing
Binance Labs Announces Investment in Solana Ecosystem Restaking Protocol Solayer
Odaily Planet Daily News Binance Labs, the venture capital and incubation department of Binance, announced its investment in Solayer, a Solana ecosystem restaking market whose goal is to support the development of on-chain Dapps by increasing network bandwidth while ensuring the security of Layer 1. Solayer uses the economic principles of staking to expand the security of Solanas base layer. Through this innovative method, users can participate in a decentralized validator network, thereby contributing to the security and decentralization of the Solana ecosystem. Users can strengthen the decentralization of the Solana network by staking assets, while earning native income through MEV-boost and obtaining an annualized rate of return (APY) from delegated assets. Currently, Solayers total locked value (TVL) has exceeded US$150 million.
RWA L2 Project Lumia Completes $25 Million in RWA Node Sales
Odaily Planet Daily News: RWA Layer 2 project Lumia (formerly known as Orion) announced the completion of RWA node sales, raising $25 million in less than 20 days. It said that this achievement is expected to make Lumia a leader in the RWA chain field. The Lumia team said they are excited about the growing interest from major institutional investors and the community in their disruptive technology. The project said that more details about this round of financing will be announced soon.
Solana Ecosystem DePIN Project Andrena Completes $18 Million in Financing, Led by Dragonfly
Odaily Planet Daily reported that the Solana ecosystem DePIN project Andrena has completed a financing of US$18 million, led by Dragonfly, with participation from CMT Digital, Castle Island Ventures, Wintermute Ventures, 6th Man Ventures and ParaFi. According to its co-founder Neil Chatterjee, this round of financing is an extension of the Series A financing, and the structure is a simple future equity agreement (SAFE) with token warrants. (TheBlock)
Odaily Planet Daily News Aidatify has completed a total of US$17.5 million in Series A financing at a valuation of US$150 million, led by SM Capital. Aidatif was built by the full-chain and DeFi infrastructure VGESS team, and the funds raised will be used to expand investment in the Aidatify ecosystem and products.
Web3 AI network DeAgentAI completes $6 million seed round of financing
Odaily Planet Daily News According to official news, Web3 AI network DeAgentAI announced that it has successfully completed a $6 million seed round of financing. This round of financing was led by Web3.com Ventures and Vertex Capital, and Higgs Capital, Kernel Labs, Waterdrip Capital, Tido Capital, PANONY, Chaincatcher, Goplus, UXLINK and others participated. DeAgentAI is committed to building the worlds first AI agent intelligent neural network in the Web3 field, relying on its self-developed LLM model and AGI system to solve the problem that the existing agent system cannot meet the endogenous needs of users. Through its neural network, DeAgentAI can efficiently analyze user intentions and meet user needs with the highest intelligence.
Open-source block browser Blockscout completes $3 million seed round of financing, led by 1kx
Odaily Planet Daily News: The open source block browser Blockscout announced the completion of a $3 million seed round of financing, led by 1kx, with participation from Primitive Ventures and Gnosis, and angel investors including Evan Van Ness, Alex Svanevik, Kartik Talwar, Anton Bukov and Stefan George. Blockscout plans to use the funds to further build its product suite and improve the user experience, such as integrating social elements and AI-enabled tools directly into the dashboard. (Chainwire)
Character*Voice
Vitalik: Farcaster, Lens, and Polymarket have performed amazingly over the past year
Odaily Planet Daily News: Vitalik Yu X replied to netizens: From my point of view, both L1 and L2 confirm transactions within seconds, and the cost of each L2 transaction is less than $0.01. Farcaster, Lens, and Polymarket have performed amazingly over the past year. We are beginning to enter the ZK ID and ZK voting stage.
Odaily Planet Daily News Matrixport released todays chart saying that due to the continued existence of macroeconomic and geopolitical risks and the lackluster earnings of US technology stocks, it is still crucial to remain cautious. However, Bitcoin appears to be oversold, with its relative strength index (RSI) falling to 30%. Historical data shows that such low RSI levels usually herald the bottom of Bitcoin. While this does not guarantee that prices will not fall further, it indicates that the current pace of decline may slow down. It is worth noting that the recent few times when the RSI fell to this low point, buying opportunities usually appeared within a few days.
CoinShares Research Director: Investors Are Selling Bitcoin and Buying Ethereum
Odaily Planet Daily News: James Butterfill, head of research at CoinShares, posted on the X platform that Bitcoin had a net outflow of $165 million this week, with a monthly net outflow of $544 million, while Ethereum had a net inflow of $175.5 million this week, with a monthly net inflow of $170.6 million. The first two days of trading after the market fell showed that investors were selling Bitcoin and buying Ethereum instead. Overall, there was an inflow of $8 million this week and a monthly net outflow of $377 million.
