Crypto Roundup: FTX Settlement, BitGo Expands, XRP Rallies, Brazil's Solana ETF Breakthrough

Our canary brings a mix of good and bad news from the crypto world. FTX and Alameda have reached a significant settlement with the CFTC, bringing closure to the saga. BitGo is expanding its global footprint with a new license in Singapore. XRP is soaring after a positive court ruling, while Brazil is leading the way in crypto adoption with the approval of its first Solana ETF.

Follow the lead of our Canary to discover unseen treasures!

Alpha Offerings

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   • Join Silent Protocol Discord HERE

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   • Also, Join Ritual Calls every Wednesday (Mandatory) - Have atleast 3 Calls joined

2. Superseed Testnet Phase Two

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Meme of the Day

Market Movements - 08 Aug 2024

The cryptocurrency market witnessed mixed movements on Thursday. Bitcoin was up by +1.17% to $57,937.67, and Ethereum rose slightly by +0.35% to $2,481.94. BNB remained flat at $492.71, while Solana was up by +1.35% to $155.38.

Among altcoins, Tron increased by +0.91% to $0.125, and Toncoin was up by +9.46% to $6.27. Cardano declined by -0.61% to $0.334, and Avalanche dipped by -1.24% to $20.82.

Movers and Shakers

In the last 24 hours, the top gainers included XRP (+18.46%), Toncoin (+9.46%), and Bittensor (+7.27%). The top losers included Artificial Superintelligence Alliance (-7.26%), JasmyCoin (-6.85%), and Celestia (-6.05%).

Project Updates

1. Figure Markets opens a new crypto exchange with both secure storage and advanced trading options, all in one place.

   Read more here

2. Locus Chain claims world's first deployment of dynamic sharding technology, aiming to overcome scalability limitations in blockchains.

   Read more here

3. Pacmoon, a memecoin previously on Blast network, migrates to Solana for "better social support" and a rebrand to ARMY.

   Read more here

4. Web3 gaming firm Spaceport partners with a major South Korean studio to bring their games to Roblox and Fortnite.

   Read more here

5. Gitcoin Grants return for round 21, featuring dedicated funding pools for projects building on Arbitrum and Celo blockchain ecosystems.

   Read more here

Hall of Fame, Hall of Shame

UK Court Freezes OneCoin Assets

The UK High Court has issued a freezing order against Ruja Ignatova and OneCoin associates, targeting assets linked to the alleged $4 billion Ponzi scheme. This legal action comes in response to a petition filed by over 400 victims.

Read more here

Brazilian Police Bust Crypto Laundering Ring

Brazilian police busted a major money laundering scheme involving a fake crypto exchange and a drug gang. The operation seized checks worth over $8.9M and traced millions in illicit transactions.

Read more here

What moved in the Crypto World Today

FTX, Alameda to Settle with CFTC

A US judge has approved a $12.7 billion settlement between FTX, Alameda Research, and the CFTC, resolving regulatory charges related to alleged illegal crypto derivatives offerings.

Read more here

BitGo Gets Singapore DPT License

Singapore's Monetary Authority (MAS) granted a license to BitGo, allowing them to offer Digital Payment Token (DPT) custodial services. BitGo will offer insured cold storage for crypto buying and selling in Singapore. This follows HashKey's recent MPI approval.

Read more here

XRP Surges on SEC Ruling

A US judge ruled in favor of Ripple Labs, ordering a $125M penalty but dismissing the SEC's claim that all XRP sales were unregistered securities. The closure of this long-standing legal battle has boosted XRP's market value.

Read more here

Brazil Approves First Solana ETF

Brazil becomes the first country to approve a Solana ETF. However, the product needs final approval from the local stock exchange before launch. This follows Brazil's history of crypto ETF approvals, including Bitcoin, Ethereum, and DeFi ETFs.

Read more here

Funding Announcements

Our Canary tweets of the latest funding news:

1. Solana-based decentralized autonomous wireless network, Andrena raised $18M in a Series A funding round led by Dragonfly Capital.

   Read more here

2. Solana-based restaking network, Solayer received undosclosed amount in funding from Binance Labs Fund.

   Read more here

3. Open-source blockchain explorer, Blockscout raised $3M in a Seed funding round led by 1kx.

   Read more here

Whale Movements

1. Giant whale 0x78d withdrew another 3,000 ETH ($7.27M) from Kraken. Txn details here

2. Cumberland received 372M USDT from the Tether's Treasury and then injected 337.2M USDT into various exchanges including:

   • 157.4M USDT to Coinbase

   • 84.6M USDT to Kraken

   • 40M USDT to Binance

   • 32M USDT to Bullish.com

   • 23.2M USDT to OKX

   More details here

3. Multisign 0xe17 (likely an institution) deposited another 5,000 ETH ($11.61M) to OKX. Txn details here

Today’s Token Unlocks

Hypercycle (HYPC) - $13.21M
Worldcoin (WLD) - $8.26M
Scallop (SCA) - $1.36M

Coinversation Street

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

@0xKyle__ deepdive about MakerDAO:

@asxn_r research about FTX liquidators Q&A:

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