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Here we are again, closing yet another month.
Those of you who’ve been reading my articles for some time would know that every last week of the month, I like to share a selection of relevant crypto news with my readers to keep you all up to date with what’s happening in this busy space.
This is particularly important during bear markets and an uncertain macro situation, as being well informed and keeping your cool is a must.
Ok, here is the flow I’ll go for July’s news:
First, setting up some context with the macro situation.
Then, I’ll share about bullish adoption news
Followed by some not so bullish news
Last, I’ll wrap up with development news within the crypto space only.
Ready? Let’s dive in.
The Macro.
The Fed just announced yesterday they are raising interest rates by another 0.75 point. This is the fourth increase in just five months (Learn more here).
BCG, Bitget, and Foresight Ventures’ data show that crypto adoption is still very low compared with traditional investment assets. The researchers predict that crypto users may reach 1 billion by 2030 if the trendline continues on its course (Learn more here).
Now, some Real Adoption News
MakerDAO is taking steps to take over the traditional finance world, and will now be able to loan up to $100 million worth of DAI to Huntingdon Valley Bank when it posts collateral to an off-chain account. It’s the first time a U.S. bank has connected to the DeFi ecosystem (Learn more here).
Italian government will provide $46 million in subsidies for blockchain projects (Learn more here).
At the same time, crypto exchange Coinbase secures regular approval in Italy (Learn more here).
Dubai launches its Metaverse Strategy with plans to support 40,000 new jobs, aiming at the world’s top 10 metaverse economies (Learn more here).
Polygon joins Disney’s ‘Accelerator Program’ to develop AR, NFT and AI experiences (Learn more here).
Playboy is set to add to its Web3 offerings by launching a MetaMansion in the Sandbox that will host gaming, social and programmed events, along with future NFT collectible releases from the firm (Learn more here).
The National Postal Service of Austria has announced the launch of its latest product called Crypto stamp art (CSA), which is based on the Ethereum blockchain (Learn more here).
Christie’s, The world-renowned auction house has launched a venture capital arm, and it’s set to focus on the Web3 space (Learn more here).|
Reddit has started selling NFT Avatars on Polygon (Lean more here).
The University of Tokyo, also known as Todai is set to offer a range of study programs later this year that will take place in the Metaverse (Learn more here).
New York Yankees is set to let its employees convert a portion of their paychecks to BTC holdings after partnering up with Bitcoin-focused financial services firm New York Digital Investment Group (Learn more here).
In Other News…
Tesla has offloaded 75% of its Bitcoin, which was worth about $2bn at the end of 2021 (Learn more here).
The Fallen Ones
The collapse of TERRA is still unfolding… Here is a good read for context.
Three Arrows Capital files for Bankruptcy in New York tied to British Virgin Islands Proceeding (Learn more here).
Crypto broker Voyager Digital files for bankruptcy following Three Arrows’ fallout (Learn more here).
And to complete the combo, crypto lender Celsius files for Bankruptcy as well after insolvency issues (Learn more here).
Development within the crypto space is still going strong…
Ethereum’s core developers confirm the perpetual date for The Merge to be on the 19th of September (Learn more here).
Don’t know what The Merge is? Here is a simple and comprehensive overview
Polygon readies ZK Rollup Testnet, and expects Mainnet to be launched in early 2023 (Learn more here).
Don’t know what ZK Rollup is? Here is a good read for you.
Aave is teaming up with decentralized Web3 infrastructure provider Pocket Network to offer developers increased scalability and ease of use when building decentralized applications (DApps) on the Aave Protocol (Learn more here).
For gaming fans… Final Fantasy NFTs coming to Polkadot in Square Enix, Enjin Alliance (Learn more here).
Animoca Brands launches DAO to develop Metaverse Standards (Learn more here).
Polygon seems to be joining Solana in bringing Web3 to Smartphones (Learn more here).
And somehow… Shiba Inu reclaims its spot as the largest token holding among Ethereum Whales (Learn more here).
Thanks for making it this far! Here is my Articles Pipeline for the next few weeks:
Project deep dive: Polygon
Project deep dive: Vechain
What is Technical Analysis
Bitesize news - August Edition
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