💱$10B NEAR Protocol to Launch a Stablecoin - TWJ #123
LUNA & UST success keeps on inspiring others.
In today’s issue:
The crypto market is down with the total market cap sitting at $1.9 trillion. WAVES is the worst performer in the top 100 in the past 7-d. Russia plans to halt bond sales for the rest of 2022 if sanctions force it into a default.
In other news, Near Protocol plans to launch a stablecoin, Binance poaches FCA official as its global regulation head, and Tesla-Blockstream-Block is building a pilot crypto mine in Texas powered by Tesla’s solar installation.
We’re continually improving our content, please reach out if you have ideas or would like us to recap another segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Near Protocol Plans to Launch a Stablecoin
Following suit the success of UST and other algorithmic stablecoin, Near Protocol is reportedly planning to launch its own stablecoin named USN. The rumor originated from a substack post by Zoran Kole and was enhanced by a discovery in the testnet version of Ref Finance, a NEAR-based DeFi protocol, that shows the USN stablecoin.
⎆Binance Poaches FCA Official as Global Regulation Head
The world’s largest exchange has once again ramped up its regulatory division by hiring a top official from the FCA, Steven McWhirter, as its global director of regulatory policy.
"I've been very fortunate in my time at the FCA to be involved in many national, European and global policy initiatives and debates, particularly in respect of financial services regulation of technology, where working with many great regulators, firms and global bodies gave me a ringside seat during a fascinating period in policy making,"
⎆Tesla-Blockstream-Block Is Building a Pilot Crypto Mine
Blockstream and Jack Dorsey’s Block are building a pilot crypto mining facility in Texas that will be environmentally friendly, powered by Tesla’s solar installation and batteries. The goal is to prove that Bitcoin mining can be sustainable over time. Details showed that the development cost $12 million and will be split evenly between Blockstream and Block. The mine will have a relatively tiny 30 petahash/second in computing power and energy capacity of just 1 megawatt (MW).
👨🏻💻Decentralized Finance (DeFi)
GMX Introduces X4: Protocol Controlled Exchange
$FPIS Claims are Live
Apeture Finance is Live
Ribbon Finance Partners with Gamma
Dani is Going to Launch Leveraged Stablecoin Yield Farming
Bastion Stableswap is Live
METL is Live on Avalanche
Gravity DEX Rebrands and Moves Chains
Frax Stablecoin Backing to Feature Layer 1 Tokens, Real-World Loans
Yearn Leads the Way on ERC-4626 Token Standard Adoption
🏛Governance - Active Proposals
Compound - OpenZeppelin Security Partnership - 2022 Q2 Adjustment V3
🦮NFT & Metaverse
Twitter Scammers Hijacking Verified Accounts for Fake NFT Airdrop
CryptoPunks Owner Borrows $8.3M as NFT-Backed Loan Market Heats Up
NFT Investments PLC Mulls £96M Acquisition of Pluto Digital
Wax Studio’s Blockchain Brawlers Game Earns $357M in First Week
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Applied Blockchain - $60M Nasdaq IPO
⚖️Regulatory Update
Industry Associations, Regulator on Singapore's Crypto Ad Rules
EU Bans Providing High-Value Crypto Services to Russia
France's Presidential Candidates Ignore Crypto Issues
New York Senate Authorizes NYDFS to 'Assess' Crypto Companies
GOP Policy Arm Releases Paper Exploring Benefits, Risks of Crypto
Russians’ EU Crypto Investments Capped at 10K Euros
Binance Gets In-Principle Approval as Crypto Broker-Dealer in Abu Dhabi
📚Noteworthy Reads
Arthur Hayes’s Read on The Q-Trap
Croissant’s Thread on How to Master Etherscan
DeFiac’s Thread on How to Become an On-chain Detective
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.