Crypto Roundup: Tether Expands, Bitget Adds Payments, El Salvador Trains, Galxe Launches New Chain

Our Canary is chirping about exciting developments in the crypto space today. Tether is expanding its stablecoin offerings with a new dirham-pegged token. Bitget is making it easier for users to buy crypto with Apple Pay and Google Pay. El Salvador is taking a big step towards Bitcoin adoption by mandating training for government employees. And Galxe is launching its own Layer 1 blockchain, Gravity, to address fragmentation in the crypto space.

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Meme of the Day

Market Movements - 21 Aug 2024

The crypto market witnessed mixed movements on Wednesday. Bitcoin was down by -2.09% to $59,485.85, and Ethereum dipped by -2.77% to $2,579.79. BNB increased by +3.86% to $554.76, while Solana declined by -3.10% to $141.50.

Among altcoins, Tron was up by +21.19% to $0.164, while Toncoin was down by -1.12% to $6.72. Cardano increased by +1.95% to $0.352, and Avalanche was in green by +11.40% to $23.04.

Movers and Shakers

In the last 24 hours, the top gainers included BitTorrent (+27.10%), Tron (+21.19%), and eCash (+9.40%). The top losers included Helium (-6.04%), JasmyCoin (-5.48%), and Litecoin (-5.24%).

Project Updates

1. YieldNest launches a new kind of liquid staking token called ynLSDe. It uses EigenLayer to earn additional yield on top of existing staked assets on platforms like Lido and FRAX.

   Read more here

2. State Street has partnered with Taurus to offer digital asset custody and tokenization services. This collaboration leverages Taurus' technology for secure storage and token creation, allowing State Street to cater to growing institutional demand.

   Read more here

3. SafePal rolled out a new staking dapp, SFPlus, allowing users to stake their SFP tokens within the SafePal mobile wallet app. Staking will earn users points for exclusive benefits within the SafePal ecosystem.

   Read more here

4. Starknet rolled out its parallel execution feature on testnet, anticipating mainnet launch in a few weeks. This update allows processing transactions simultaneously instead of sequentially.

   Read more here

5. Sonic Labs launched a bounty program named Sonic Boom & Sonic Gems to incentivize developers for building applications on their upcoming Sonic network. The program will offer rewards in the form of Sonic tokens to developers through distributed "Gems".

   Read more here

Hall of Fame, Hall of Shame

Whale Loses $55M in Phishing Attack

A careless wallet signature exposed a crypto whale, leading to the loss of over $55M in DAI stablecoin through a phishing attack. The stolen funds were quickly converted to Ethereum by the attackers.

Read more here

FutureNet Co-Founder Arrested in Scam

Polish co-founder of the alleged crypto Ponzi scheme FutureNet, Roman Ziemian, has been arrested in Montenegro. He was wanted by South Korea and Poland on charges of fraud, money laundering, and theft. FutureNet is accused of defrauding investors of $21M.

Read more here

What moved in the Crypto World Today

Tether to Launch Dirham-Pegged Stablecoin

Tether partners with Phoenix Group and Green Acorn Investments to launch a new stablecoin pegged to the United Arab Emirates dirham. This joins the company's stable of other fiat-pegged tokens, such as USDT and EURT.

Read more here

Bitget Adds Apple Pay and Google Pay

Cryptocurrency exchange Bitget has announced the integration of Apple Pay and Google Pay. This integration will facilitate faster fiat-to-crypto conversions, reportedly enabling users to complete purchases within 30 seconds.

Read more here

El Salvador Mandates Bitcoin Training

El Salvador is taking a significant step towards mainstream Bitcoin adoption by implementing mandatory training for over 80,000 government employees. This initiative aims to equip public servants with the knowledge and skills around Bitcoin’s usage.

Read more here

Galxe Launches Gravity Mainnet

Blockchain firm Galxe has launched the alpha mainnet of its own Layer 1 blockchain called Gravity. This new chain aims to address fragmentation issues within the crypto space by offering cross-chain interactions. It will eventually integrate all of Galxe's existing products.

Read more here

Funding Announcements

Our Canary tweets of the latest funding news:

1. AI research and development platform behind GenLayer, YeagerAI, raised $7.50M in a Seed funding round led by North Island Ventures.

   Read more here

2. Provider of ZK identity verification solutions, zkMe raised $4M in a funding round led by Multicoin Capital.

   Read more here

3. Ethereum L2 using Bitcoin as gas, Corn raised $6.70M in a Seed funding round led by Polychain Capital.

   Read more here

4. Modular AI-native data pre-processing layer, DIN raised $4M in a funding round from 071labs, Manta Network, and others.

   Read more here

5. Company focused on developing tools for MEV, Sorella Labs raised $7.50M in a Seed funding round led by Paradigm.

   Read more here

6. Web3 gaming platform, Nexus Interactive raised $2M in a Seed funding round led by Animoca Brands, Jump Crypto, and Maven Capital.

   Read more here

Whale Movements

1. Mt. Gox deposited 1,265 BTC ($75M) to Bitstamp. Txn details here

2. Mt. Gox transferred 13,265 BTC ($782M) to 2 wallets, including:

   • 12,000 BTC ($707M) to the new unknown wallet 1PuQBjpPfAuANa3KM4HBdfF98BC7wnWhTb

   • 1,265 BTC ($74.5M) to an internal wallet 1JbezDVd9VsK9o1Ga9UqLydeuEvhKLAPs6

   More details here

3. Pantera Capital further deposited 14.756M 1INCH ($3.85M) to Coinbase Prime. More detail here

Today’s Token Unlocks

Vertex Protocol (VRTX) - $2.59M
Forgotten Playland (FP) - $1.60M
PandaFarm (BBO) - $1.01M

Coinversation Street

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

@raoulGMI shares thesis on low-float tokens outperforming:

@Arthur_0x shares his Aave thesis:

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