🌪️US Treasury Sanctions Tornado Cash - TWJ #204
This is the first time a piece of code is added to the list.
In today’s issue:
The crypto market is flat with its total market cap above ~$1 trillion. Flow (FLOW) is the best performer in the top 100 in the past 7-d. Markets are bracing for the US CPI number on Wednesday. Meme stocks are back with Bed Bath & Beyond closed up ~40% on the day.
In other news, crypto mixing tornado cash sanctioned by the US Treasury, Vitalik comments on Ethereum PoW fork, and Galaxy Digital lost $554m in Q2 2022.
We’re continually improving our content, please reach out if you have ideas or want us to recap another market segment.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Tornado Cash Sanctioned by the US Treasury
The US Treasury Department has sanctioned the decentralized crypto-mixing software Tornado Cash. The Office of Foreign Assets Control (OFAC) added the piece of code to its list, which means that all US persons and entities can’t interact with Tornado Cash or any of the Ethereum wallet addresses tied to the protocol.
⎆Vitalik Comments on Ethereum PoW Fork
Ethereum founder Vitalik Buterin commented on the potential upcoming Proof-of-Work hard fork. Vitalik stated that it’s unlikely that the fork will have significant long-term adoption, adding that those who participate mostly just want to make a quick buck.
⎆Galaxy Digital Lost $554M in Q2 2022
The crypto financial services firm led by Mike Novogratz reported a Q2 2022 net loss of $554.7m, three times the amount it lost in Q2 2021. The main cause of the loss is the crypto market downturn
👨🏻💻Decentralized Finance (DeFi)
Seahorse - a Framework for Developing Solana Programs in Python
AVAX and XLM are now on Robinhood
Hubble Exchange vHubble Incentive
Nomad Bridge White Hat Hackers have Returned $32.6M
Ethereum Merge Is the Main Contributor to July Rebound: JPMorgan
Dragoma Supporters Fall Victim to $3.5M Rug Pull
🏛Governance - Active Proposals
🦮NFT & Metaverse
Vitalik Buterin Proposes Stealth Addresses for Anonymous NFT Ownership
MeebitsDAO General Manager to Join Yuga Labs as Meebits Brand Lead
Consumer Group Demands Celebs Disclose NFT Connections
Ex-NFL Player and Former Exec Sues Metaverse Startup Everyrealm
Moonbirds Ruffles some Holders' Feathers with Abrupt Copyright Switch
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Fair.xyz - $4.5M Unknown Round
Cashmere - $3M Seed Round
MetaverseGo - $4.2M Seed Round
Geeq - $25M Capital Commitment from GEM
ClearnSpark - $25.1M Investments in Bitcoin Mining
PnLink Co. and OK-Bit Co - Undisclosed $ of Acquisition by Crypto.com
⚖️Regulatory Update
BitMEX Executive Pleads Guilty to Violating Anti-Money Laundering Act
Amber Group Brings Retail Trading Platform to Brazil
Feds Blacklist Tornado Cash, Ban Ethereum Mixing Tool in the US
USDC Blacklisted Every Ethereum Address Sanctioned by the US Treasury
The Reserve Bank of Australia to Explore Use Cases for CBDC
Kazakh Authorities Arrest 23 Suspected of Forcing IT Professional to Run an Illegal Crypto Mine
📚Noteworthy Reads
Rektdiomedes’s Thread on 10 Reasons Stablecoins Will Eventually Hit A $10T
0xSami’s Read on Wolf in Sheeps Clothing
Packy McCormick’s Read on Everything is Broken
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.