Crypto Roundup: Riot Targets Bitfarms, DBS Piloting Blockchain Token, STS Expands, Revolut & Ledger Simplify Onboarding

Our feathered friend, the canary, chirps about a flurry of crypto activity. Riot Platforms is intensifying its takeover bid for Bitfarms, while DBS Bank is pioneering blockchain-based treasury tokens. Meanwhile, STS Digital is expanding its market reach by acquiring flovtec, and Revolut and Ledger are joining forces to simplify crypto onboarding.

Follow the lead of our Canary to discover unseen treasures!

Alpha Offerings

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     Nubila x Fogworks

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Meme of the Day

Market Movements - 14 Aug 2024

The crypto market reversed on Wednesday and witnessed an upward movement. Bitcoin rose by +4.17% to $61,243.25, while Ethereum increased by +3.86% to $2,748.83. BNB was up by +3.09% to $529.93, and Solana increased by +2.49% to $149.07.

Among altcoins, Tron rose by +2.96% to $0.130, while Toncoin was up by +11.81% to $7.13. Cardano also increased by +2.18% to $0.342, and Avalanche was in green by +3.52% to $21.63.

Movers and Shakers

In the last 24 hours, the top gainers included Toncoin (+11.81%), ThorChain (+11.60%), and Fantom (+10.80%). The top losers included Sui (-6.37%), Akash Network (-5.28%), and ORDI (-1.23%).

Project Updates

1. OpenOcean launches its DEX aggregator on Bitcoin's L2 network, Rootstock, allowing users to access Ethereum's DeFi features with Bitcoin's security.

   Read more here

2. Coinbase is launching its services in Hawaii after the state clarified its cryptocurrency regulations. Coinbase had previously left Hawaii in 2017 due to regulations requiring a license and fiat reserves, but these requirements have since been lifted.

   Read more here

3. Hedera and Copper partner to broaden institutional access to the Hedera ecosystem through crypto custody and staking.

   Read more here

4. ZAN and Mysten Labs partner to accelerate Sui adoption. ZAN to provide KYC services and launch Sui RPC node, enhancing blockchain scalability and accessibility in APAC.

   Read more here

5. Apex Fusion launches public testnet to address blockchain fragmentation. By connecting UTXO and account-based networks, it aims to enhance asset transfer, development, and growth across diverse blockchains.

   Read more here

Hall of Fame, Hall of Shame

Vow Platform Suffers $1.2M Hack

A security breach was identified on the Vow platform, a service facilitating the issuance of discount vouchers utilizing blockchain technology. The exploit resulted in a theft of approximately $1.2M in cryptocurrency and 80% decline in the value of Vow's native token.

Read more here

User Jailed for Keeping $6.8M Bitcoin

A Singaporean court has ruled against a Crypto.com user who inadvertently received a $6.8M Bitcoin transfer. The user, who was not identified in reports, refused to return the funds, leading to a conviction for misappropriation of property.

Read more here

What moved in the Crypto World Today

Riot Steps Up Bitfarms Takeover Bid

Riot Platforms increases Bitfarms stake to nearly 19% with $2.3M share purchase, escalating takeover bid. Bitfarms resists, appoints new CEO, and introduces rights plan to defend against hostile takeover.

Read more here

DBS Pilots Blockchain Treasury Token

DBS has partnered with Ant International to pilot a blockchain-powered treasury token for instant, multi-currency settlement and liquidity management, allowing for 24/7 liquidity management for Ant. This collaboration leverages DBS's permissioned blockchain and integrates with Ant's Whale platform.

Read more here

STS Digital Acquires flovtec

STS Digital has expanded market-making capabilities through acquisition of Swiss-based flovtec, aiming to enhance liquidity solutions and accelerate European market penetration.

Read more here

Revolut and Ledger Simplify Crypto Onboarding

Revolut has partnered with Ledger to offer crypto on-boarding in Europe. Existing Revolut users can buy crypto on Ledger Live without further verification. New users can verify identity through integrated KYC process.

Read more here

Funding Announcements

Our Canary tweets of the latest funding news:

1. EVM L2 for Gaming and DePIN, Reddio raised undisclosed funding in Seed round led by Paradigm, Arena Holdings.

   Read more here

2. Intent-centric Ethereum L2, Essential raised $11M in a Series A funding round led by Archetype.

   Read more here

Whale Movements

1. Jump Trading successfully unstaked 17,049 ETH ($46.5M) from Lido Finance and transferred them to the ETH-unloading wallet 0xf58. More details here

2. Fresh wallet bc1qf just withdrew 100 BTC ($6.06M) from Binance. More details here

3. Wallet 0x1db (likely Cumberland DWR) further received 183.2M USDT from the Tether Treasury and then deposited them to CEX. More detail here

Today’s Token Unlocks

The Sandbox (SAND) - $53.42M
Worldcoin (WLD) - $8.32M
RSS3 (RSS3) - $2.57M

Coinversation Street

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

@0xshuel introduces cash flows for application tokens:

Random thoughts on the state of crypto:

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