Partnerships
Reddit is forging ahead with blockchain adoption push with FTX partnership
Reddit has partnered with FTX Pay to allow users to buy ETH with fiat to pay for gas fees associated with Community Points transactions.
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Mining
Mining firm Bit Digital grows Ethereum holdings 594% sequentially in July ahead of Merge
The mining firm also increased its Bitcoin production by 111% month-over-month in July, while its mining power remained constant.
Regulation
UAE introduces new reporting requirements to counter crypto real estate money laundering
The new rules requires all real estate agents, brokers, and law firms to report all property transactions involving virtual assets.
Banking
Pictet Group tells private banks to stay away from crypto
Pictet's Asia arm CEO Tee Fong Seng said that though cryptocurrencies have potential, now is not the right time for private banks to invest.
Lending
Virginia pension funds invest in crypto yield farming despite recent turmoil
Despite the recent liquidity crisis among several crypto lenders, the Fairfax county pension funds expect to earn "attractive yields."
Regulation
US Senate introduces bill to put CFTC in charge of regulating Bitcoin, Ethereum
The bill would give the CFTC "exclusive jurisdiction" over all cryptocurrencies that fall under the definition of "digital commodities."
Mining
Riot Blockchain Bitcoin production drops 28% YOY in July; offsets energy costs by curtailing some operations
Riot Blockchain mined around 28% less Bitcoins in July 2022 compared to July 2021 but gained an estimated $9.5 million in power credits.
Lending
Zipmex aims to slowly reinstate withdrawals of certain altcoins
Zipmex said that it is working to recover funds from Babel Finance and has signed a MOU with two investors to fully re-enable withdrawals.
Investments
Billionaire Steven Cohen exits investment in quantitative trading startup Radkl
Radkl has seen a slew of key figures depart this year, including four managing directors, but the startup said it continues to grow rapidly.
Bankruptcy
US Women’s Soccer League sponsorship funds from Voyager in jeopardy after bankruptcy
The league received the promised cash payout but the crypto promised to players were never paid, although player salaries remain unaffected.
Regulation
UK introduces new rules for promotion of high-risk assets; crypto in the crosshairs
The FCA chalked out tougher rules for the marketing of high-risk investment products and is waiting for the passing of legislation to see how crypto promotions come under its purview.
Exchanges
Poloniex launches new trading system focused on speed, stability and usability
The new trading system improves the exchange's scalability, allowing it to better tackle traffic upticks, the exchange said.
Bankruptcy
Vauld gets three-month moratorium from Singapore High Court for protection against creditors
The court has asked Vauld to share cash flow and management of accounts details with creditors within two and eight weeks respectively.
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