Crypto Roundup: OpenSea Defies SEC, BNB Chain Bridges, Crypto.com-PayPal Partnership, Telegram CEO Indicted

Our canary has brought some mixed news from the crypto world today. OpenSea's CEO is gearing up for a fight with the SEC over how NFTs should be regulated. In brighter news, BNB Chain launched a cross-chain bridge, making it easier to move cryptocurrencies between different blockchains. Crypto.com and PayPal are teaming up to simplify buying crypto with US dollars. Finally, Telegram's CEO was indicted in France for alleged cybercrime violations.

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Meme of the Day

Market Movements - 29 Aug 2024

The crypto market witnessed mixed movements on Thursday. Bitcoin was slightly up by +0.31% to $60,318.97, while Ethereum rose by +1.37% to $2,571.14. BNB declined by -0.14% to $544.41, and Solana was down by -1.49% to $145.83.

Among altcoins, Tron was up by +1.04% to $0.161, and Toncoin increased by +2.48% to $5.59. Cardano also rose by +0.85% to $0.363, while Avalanche was in red by -4.39% to $23.68.

Movers and Shakers

In the last 24 hours, the top gainers included Helium (+7.48%), Flare (+3.30%), and Toncoin (+2.48%). The top losers included DOGS (-9.14%), Popcat (-7.01%), and Arweave (-6.15%).

Project Updates

1. Bitcoin Layer 2 scaling solution Mezo introduces stBTC, a yield-generating token enabling users to accrue interest on their BTC.

   Read more here

2. Matchain has successfully launched its mainnet on BNB Chain. It has already partnered with OKX Wallet and plans to integrate with major wallets and NFT marketplaces.

   Read more here

3. LINE messenger has collaborated with Kaia blockchain to integrate mini-dApps, mirroring Telegram's approach. This move seeks to expand Web3 accessibility to LINE's vast user base.

   Read more here

4. TON blockchain suffered a second outage due to the popularity of the memecoin DOGS, causing network congestion and halting block production.

   Read more here

5. The Stacks network has successfully implemented the Nakamoto upgrade, significantly accelerating transaction speeds and paving the way for sBTC, a programmable Bitcoin asset.

   Read more here

Hall of Fame, Hall of Shame

Mbappé's X-Account Hack Fuels Scam

Kylian Mbappé's X-Account was hacked and facilitated a $1 million crypto scam. Fraudsters impersonated the footballer, promoting a fake crypto giveaway to steal from unsuspecting fans.

Read more here

Crypto Fraud Trial Ends in Stabbing

A South Korean crypto trial took a violent turn as a disgruntled investor stabbed Haru Invest's CEO. The CEO allegedly stole $826 million from over 16,000 users before facing trial.

Read more here

What moved in the Crypto World Today

OpenSea CEO Vows to Fight SEC

OpenSea's CEO vowed to fight a legal challenge from the SEC after receiving a Wells Notice. The SEC believes NFTs sold on OpenSea should be classified as securities, subjecting them to stricter regulations.

Read more here

BNB Chain Launches Cross-Chain Bridge

BNB Chain deployed a cross-chain bridge facilitating asset transfer between BNB Chain and other blockchains like Ethereum, Polygon, and Avalanche. This new bridge has been launched in collaboration with cross-chain technology providers Celer, deBridge, and Stargate.

Read more here

Crypto.com, PayPal Simplify US Crypto Buys

Crypto.com and PayPal have partnered to streamline crypto purchases for US users. This integration will allow direct funding of crypto purchases via linked PayPal accounts.

Read more here

Telegram CEO Indicted in France

Telegram CEO Pavel Durov faces indictment in France following arrest for alleged cybercrime violations. He remains under judicial supervision as legal proceedings unfold.

Read more here

Funding Announcements

Our Canary tweets of the latest funding news:

1. Aptos-based lending market, Echelon Market raised $3.50M in a Seed funding round led by Amber Group.

   Read more here

2. Community-driven investment platform, Legion raised $2M in a Seed funding round led by Cyber Fund.

   Read more here

3. Advanced SVM with ZK security, Soon raised undisclosed funding from Mustafa Al-Bassam, Anatoly Yakovenko, Lily Liu, and others.

   Read more here

4. Blockchain game development company, Double jump tokyo raised $10M in a Series D funding round from SBI Investment, Sony Corporation, Taisu Ventures, and others.

   Read more here

Whale Movements

1. Whale 0x7e0 withdrew 1,290 MKR ($2.33M) and 15,125 ENS ($281K) from Binance. More details here

2. Giant whale 3G98j withdrew 1,000 BTC ($59.64M) from Binance. Txn details here

3. Two new wallets 3FF3s and 3Kxfs withdrew 170.1 BTC ($10.04M) from Binance. Txn detail here

Today’s Token Unlocks

Worldcoin (WLD) - $7.74M
Portal (PORTAL) - $6.74M
Litentry (LIT) - $1.09M

Coinversation Street

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

@yashhsm on Ethereum VCs:

@Fade thread about the bullcase of Grass:

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