ETHEREUM ETFs SEE RECORD INFLOWS OF $1 BILLION


🔸 U.S. Ethereum ETFs recorded capital inflows of $1 billion.

🔸 This is the highest figure since the launch of these financial products.

🔸 Such strong investor interest reflects growing institutional involvement in the second-largest cryptocurrency.


U.S. TREASURY SECRETARY NOMINEE CALLS FOR RATE CUT


🔹 U.S. Treasury Secretary nominee Richard Bessent has called on the Federal Reserve to cut interest rates by 50 basis points in September.

🔹 His call is in response to weaker-than-expected labor market data and a slight increase in inflation.

🔹 Interest rate decisions are a key macroeconomic factor affecting asset valuations, including cryptocurrencies.


BULLISH CRYPTO EXCHANGE INCREASES SIZE OF IPO


🔸 Bullish, a cryptocurrency exchange led by former NYSE president Tom Farley, has increased the size of its initial public offering (IPO).

🔸 The decision was made in response to growing investor interest ahead of the company’s stock market debut.

🔸 The company aims to achieve a valuation of $4.8 billion.


U.S. BANKING GROUPS SEEK TO CLOSE STABLECOIN REGULATORY LOOPHOLE


🔹 Groups representing the U.S. banking sector are calling for the closure of a legal loophole in the GENIUS Act.

🔹 They warn that current regulations may allow stablecoin issuers to offer interest to holders while bypassing banking restrictions.

🔹 This is another part of the ongoing debate over the future regulatory framework for stablecoins in the United States.


ODIN FUN PLATFORM LOSES OVER $7 MILLION IN ATTACK


🔸 Odin Fun, a launchpad for Bitcoin-based memecoins, suffered an attack resulting in the theft of over $7 million.

🔸 The project’s co-founder stated that the company’s reserves are insufficient to cover user losses.

🔸 The company is working on a compensation plan for victims of the incident.


COINBASE LAUNCHES INITIATIVE TO BOOST USDC LIQUIDITY


🔹 Cryptocurrency exchange Coinbase has launched an initiative called the “Stablecoin Bootstrap Fund” to increase USDC stablecoin liquidity.

🔹 In this context, liquidity refers to the ease with which a large amount of an asset can be bought or sold without significantly impacting its price.

🔹 The fund will allocate capital to support financial protocols across various blockchain networks, including the Aave platform.


ALKIMI AND SUI PARTNER TO IMPROVE ADVERTISING MARKET


🔸 The Alkimi project and the foundation behind the Sui blockchain have announced a strategic partnership.

🔸 The goal is to use blockchain technology to create a more transparent and efficient digital advertising ecosystem.

🔸 The partnership aims to address existing issues in the advertising industry, such as lack of transparency and high intermediary costs.


NEW BILL IN WISCONSIN AIMS TO LIMIT CRYPTO ATM FRAUD


🔹 Senators from the U.S. state of Wisconsin have introduced a bill to regulate the operation of cryptocurrency ATMs.

🔹 The proposed regulations aim to combat scams that often exploit such machines to extort funds.

🔹 This is another state-level legislative initiative in the U.S. seeking to introduce stricter oversight of the cryptocurrency market.

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