Crypto Roundup: Ripple Backs Brazilian Startups, Worldcoin Expands Iris Scan, California Digitizes Car Titles, Bybit's Indian Rupee Push

Our canary brings news of blockchain innovation! Ripple is teaming up with Fenasbac to nurture blockchain startups in Brazil. Meanwhile, Worldcoin is making waves with its iris scanning technology in Austria. On the other side of the globe, California is streamlining car title transfers with blockchain, while Bybit is making crypto more accessible to Indians by enabling digital rupee payments.

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Meme of the Day

Market Movements - 31 Jul 2024

Wednesday witnessed mixed trends in the cryptocurrency market. Bitcoin was down by -0.74% to $66,131.52, and Ethereum dipped by -0.78% to $3,321.23. BNB was up by +1.94% to $585.61, and Solana rose by +1.08% to $182.14.

Among altcoins, Tron was down by -2.89% to $0.131, while Toncoin was up by +2.88% to $6.82. Cardano declined by -0.39% to $0.404, and Avalanche was in red by -2.30% to $26.32.

Movers and Shakers

In the last 24 hours, the top gainers included Mog Coin (+6.88%), Kaspa (+4.73%), and Beam (+3.90%). The top losers included Fantom (-8.35%), Ethena (-7.28%) and Theta Network (-6.77%).

Project Updates

1. Lava Network launches its public mainnet, supporting interoperability between blockchains. They're rewarding early participants with $2 million and airdropping 55 million LAVA tokens.

   Read more here

2. Movement Labs integrates with Polygon's AggLayer, facilitating interoperability between Move-based Layer 2 chains and Ethereum.

   Read more here

3. StarkNet's ZKX derivatives platform shuts down due to low user engagement and insufficient revenue to cover costs. All markets are delisted and user funds are being returned.

   Read more here

4. Web3 restaurant app Blackbird launches Blackbird Pay, a payment network with lower fees for restaurants and FLY token rewards for diners.

   Read more here

5. Router Protocol launches its own Layer 1 blockchain, Router Chain, aiming to simplify cross-chain interoperability and provide cost-effective transactions for users and dApps.

   Read more here

Hall of Fame, Hall of Shame

Terra Suffers Security Breach

The Terra blockchain experienced a security breach due to a vulnerability in its IBC module. Hackers stole millions in bridged assets, including USDC and Astroport tokens.

Read more here

BitClout Founder Faces SEC Charges

The founder of the social media platform BitClout, operating under the pseudonym "Diamondhands," has been charged by the SEC for selling unregistered securities. The charges also allege that he made misrepresentations to investors regarding BitClout's performance.

Read more here

What moved in the Crypto World Today

Ripple Partners Fenasbac to Back Brazilian Startups

Ripple has partnered with Brazilian fintech association Fenasbac to support and sponsor blockchain startups in the country. The focus is on solutions using the XRP Ledger for payments, asset tokenization, and financial services.

Read more here

Worldcoin Launches Iris Scanning in Austria

Worldcoin has launched its World ID program in Austria, utilizing iris scanning technology for user verification. This "proof of humanness" system raises privacy concerns despite claims of enhanced online security.

Read more here

California Uses Blockchain for Car Titles

California leverages the Avalanche blockchain to digitize 42 million vehicle titles. This initiative aims to expedite transfer processes and minimize DMV visits. Users will be able to claim titles through a mobile wallet app.

Read more here

Bybit Enables Digital Rupee Payments in India

Crypto exchange Bybit expands its fiat on-ramp options for Indian users by integrating the Digital Rupee. This aligns with the rising demand for rupee-denominated crypto transactions in India.

Read more here

Funding Announcements

Our Canary tweets of the latest funding news:

1. Web3 AI firm, Hyperbolic raised $7M in a Seed funding round led by Polychain Capital and Lightspeed Faction.

   Read more here

2. NFT orderbook, Mintify raised $3.40M in a funding round from Arca Fund, Cumberland, Amber Group, and others.

   Read more here

3. Decentralized cross-chain asset management platform, Mycel raised undisclosed amount in Angel funding round from CV Labs, FLICKSHOT, gumi Cryptos Capital, and others

   Read more here

4. Monad’s MEV-powered liquid staking platform, aPriori received undisclosed amount in funding from Binance Labs Fund.

   Read more here

5. Web3 sub-account management platform, Agent Exchange raised $1M in a Pre-seed funding round from Caladan, MrBlock, David Choi, domo, and others

   Read more here

Whale Movements

1. Whale 0xf59 withdrew another 6M CRV ($1.53M) from Binance. Txn details here

2. Another whale 0xedc withdrew 2,900 ETH ($9.64M) from Binance. Txn details here

3. A whale 12QVs withdrew another 1,300 BTC ($85.57M) from Binance. More details here

Today’s Token Unlocks

Optimism (OP) - $52.72M
Worldcoin (WLD) - $11.10M
Echelon Prime (PRIME) - $6.51M

Coinversation Street

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

@ExcelMaxi article about Polymarkets:

@Defi_Made_Here thread about incentives on lending markets:

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