Crypto Roundup: Binance Returns to India, Apple Tap-and-Go, US Bitcoin Transfer, MetaMask Debit Card Pilot

Our feathered friend, the canary, brings today’s crypto updates. Binance is back in India after settling a fine, marking a return to the lucrative market. Circle is bringing tap-and-go payments to iPhones. Meanwhile, the U.S. government is on the move, transferring a massive chunk of Silk Road Bitcoin. And finally, MetaMask is teaming up with Mastercard to pilot a crypto debit card, making it easier to spend digital assets in the real world.

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Meme of the Day

Market Movements - 15 Aug 2024

The crypto market was negatively impacted by U.S. consumer price index (CPI) figures, despite positive stock market reactions.

Bitcoin dipped by -4.47% to $58,734.31, while Ethereum declined by -4.36% to $2,640.01. BNB was down by -0.99% to $525.83, and Solana decreased by -2.70% to $143.44.

Among altcoins, Tron rose by +1.11% to $0.132, while Toncoin was down by -6.67% to $6.66. Cardano also declined by -1.83% to $0.338, and Avalanche was in red by -2.70% to $21.12.

Movers and Shakers

In the last 24 hours, the top gainers included Flare (+5.65%), Aave (+3.14%), and Litecoin (+2.11%). The top losers included dogwifhat (-9.04%), Heloium (-8.97%), and Notcoin (-7.75%).

Project Updates

1. Offchain Labs, creators of Arbitrum, launched Tandem, a new unit focused on promoting mainstream crypto adoption. Tandem will partner with promising projects to build and launch on-chain applications using Arbitrum Nitro's features.

   Read more here

2. XION, a proof-of-stake blockchain with Burnt Banksy as a contributor, launched its native token $XION and a non-profit foundation to oversee its development and promote Web3 adoption.

   Read more here

3. Renzo Protocol, known for Ethereum's liquid staking, launches ezSOL, Solana's first liquid staking token, on Jito Network. This collaboration offers MEV-enhanced staking rewards for users.

   Read more here

4. Cronos zkEVM, a layer-2 blockchain powered by ZKsync tech, launched its alpha mainnet with a native Ethereum bridge. This allows seamless asset transfer between Cronos and Ethereum.

   Read more here

5. Pyth Network partners with TON to provide real-time price data via oracle service. This will enhance gaming, DeFi, and overall user experience on TON blockchain.

   Read more here

Hall of Fame, Hall of Shame

Xerberus Launches Siren to Fight Crypto Scams

Xerberus launches Siren, a free crypto scam recovery tool. Users can map and report scams, generating a free on-chain report. Siren has partnered with law firms to recover stolen funds, share recovered assets among victims, affiliates, and recovery costs.

Read more here

Deepfake Scams Target Brits with Fake Starmer Ads

Deepfake ads featuring Keir Starmer and Prince William are promoting a scam crypto trading platform on Meta. The fake ads promises daily earnings of £1000, luring victims into providing personal information.

Read more here

What moved in the Crypto World Today

Binance Returns to India After Fine

Binance is re-entering the Indian market after settling a $2.25M penalty with the Financial Intelligence Unit (FIU). The company has registered as a reporting entity with the FIU, complying with Indian laws. This follows India's January ban of crypto exchanges, including Binance, for operating illegally.

Read more here

Circle Tap-and-Go Coming to iPhones

Circle to bring tap-and-go payments to iPhones using Apple's NFC chip and Secure Element, leveraging Apple's decision to allow third-party developers access to secure payment chips.

Read more here

US Moves $600M Silk Road Bitcoin

US government has transferred $600M in seized Silk Road Bitcoin to Coinbase. Market speculates on potential sell-off, impacting Bitcoin price. This follows a previous $2 billion transfer and a Coinbase contract to manage crypto assets.

Read more here

MetaMask Pilots Crypto Debit Card with Mastercard

MetaMask, Mastercard, and Baanx launched a pilot program for the world's first Mastercard debit card allowing direct spending from a self-custody crypto wallet. Initially available to a few thousand users in the EU and UK, the card converts crypto to fiat for everyday purchases.

Read more here

Funding Announcements

Our Canary tweets of the latest funding news:

1. Decentralized AI blockchain platform, Sahara Labs raised $43M in a Series A funding round led by Pantera Capital, Binance Labs Fund, and Polychain Capital.

   Read more here

2. Instant money transfer platform, Kem received $3M funding from Tether.

   Read more here

3. Smart account ecosystem, Rhinestone raised $5M in a Seed funding round led by 1kx.

   Read more here

4. Ethereum Layer 2 developer, Parfin raised $10M in a Series A funding round led by ParaFi Capital.

   Read more here

5. Digital payments startup, Sling Money raised $15M in a Series A funding round led by Union Square Ventures (USV), Ribbit Capital, and Slow Ventures.

   Read more here

Whale Movements

1. Arthur Hayes (BitMEX founder) withdrew 11.4M ATH ($779K) from OKX. Txn details here

2. A Whale 0xbe6 withdrew 670.84 WBTC ($38.98M) from Binance. More details here

3. Pantera Capital deposited another 14.595M 1INCH ($3.77M) to Coinbase Prime via 2 wallets. More detail here

Today’s Token Unlocks

StarkNet (STRK) - $24.46M
Cyber (CYBER) - $11.71M
Worldcoin (WLD) - $7.97M

Coinversation Street

Our Canary brings some of the trending and informative tweets from the crypto world:

@0xshuel on reasons to be bullish on $ETH:

@game_for_one on mnetal models for crypto trading:

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