Your Favorite Crypto Digest From TradeCrypto.com

Market is green. BTC is now trading above $21,800, ETH is trading around $1 500.

💪 Bitcoin dominance: 42.17%

📉 Total Cryptocurrency Market Cap: $0,989 tr

😲 Fear and greed index: 30 ( Fear)

🚀 Gainers(Top-100)

Nexo (NEXO)+29.76% 

NEAR Protocol (NEAR)+16.52%

Fantom (FTM)+13.94%

😭 Losers(Top-100)

Lido DAO (LDO)-7.77%

Arweave (AR)-7.72%

Elrond (EGLD)-5.96%

XRP Scan🔍 shows the former Ripple founder’s👤 “Tacostand” wallet has only $16💰 worth of XRP left. Former Ripple Labs founder Jed McCaleb has finally❌ ended the eight-year dump of his Ripple (XRP) holdings, leaving🔐 only 46.7 XRP left sitting in his famed “~tacostand” wallet💳. According to blockchain⛓ explorer XRP Scan, the former Ripple founder👤 executed his last outgoing XRP transfer🔁 of 1.1 million XRP, worth $394,742.18💰, at 6:31 am UTC on Sunday.

Hours later, the account📄 listed an “ACCOUNT DELETE” ❌transaction, meaning the account will no longer exist on XRP’s ledger. The transaction marks🔍 the end of a 9 billion💰 XRP sell-off initiated by McCaleb after leaving Ripple Labs to co-found👤 rival payment protocol Stellar in 2014.

Democratic Senator🇺🇸 Elizabeth Warren is calling🔉 on Congress and the SEC to take a more assertive🔁 stance with crypto⛓, in light of recent high-profile insolvencies❌ from lenders like Celsius, Vauld, Voyager, and BlockFi. Warren told💬 that “Congress needs to act, but the SEC has a responsibility🔐 to use its authorities to put📄 guardrails in place and crack down on crypto actors that break❌ the rules.”

The Massachusetts Senator said🔉 she’s been 💬“ringing the alarm bell on crypto” and recommends enforcing “stronger rules”⚒ on the sector to ensure customer👥 funds are protected🔐. She added that💬 “too many crypto firms have been able to scam customers and leave ordinary investors holding the bag while insiders make off with their money💰.”

To limit the downsides📉 of transparency and protect🔐 voters from what it calls the🔉 "tyranny of the masses," the popular DAO voting site, Snapshot, announced🔉 the launch of shielded voting today. Snapshot believes DAO governance⛓ is still in its infancy, and transparency has allowed more democratic oversight.

However, as DAOs mature, the project says💬 this transparency hints at certain less-desirable characteristics⛓. "On the one hand, the transparency of digital📱 governance has been one of DAOs strengths💪🏻 because of the element of social control around votes🗳," Snapshot ecosystem🌍 lead Nathan van der Heyden tells. 💬"On the other, having the results updated📄 with each vote can lead to voting apathy, lowered participation, and information asymmetry🔀."

In a Monday announcement📄, the auction company said💬 the fund, Christie’s Ventures, will financially💰 support firms in Web3, 💬“art-related financial products and solutions,” and technology⛓ related to art and luxury goods. According to Christie’s, its first investment💸 will be in LayerZero Labs, a company developing solutions💱 for enabling omnichain⛓ decentralized applications📲, allowing a more seamless transfer🔁 of assets between blockchains⛓.

💬“We will focus🔍 on products and services, which can solve🔐 real business challenges, improve client experiences and expand growth📈 opportunities, both across the art🎨 market directly and for interactions with it,” 💬said Christie’s Ventures global head Devang Thakkar.

Coinbase announced🔉 on July 18 that it has obtained the Crypto Asset Service Provider approval💪🏻 from the Italian🇮🇹 Anti Money Laundering regulator, Organismo Agenti e Mediatori (OAM).

According to a post📲 by Nana Murugesan, Coinbase’s vice president of international🌐 and business development, the approval☑️ will allow Coinbase to continue to offer crypto💱 services and launch🔉 new products in Italy. Coinbase started providing its cryptocurrency💱 services in Italy🇮🇹 quite a while ago. As previously reported🔉, the exchange💱 was offering Coinbase card💳 services in Italy🇮🇹 alongside countries like Spain🇪🇸 and Germany🇩🇪 as of June 2019.

The Russian government-backed tokenization💱 platform Atomyze has issued🔉 its first digital asset backed by palladium🪨 in collaboration with the local bank🏦 Rosbank.

Rosbank officially announced🔉 on Monday that it became the first partner of the Russian🇷🇺 blockchain⛓ firm Atomyze, acting as an investor💸 in Russia’s first digital📲 asset deal with palladium. According to the announcement🔉, the newly issued digital asset is the first digital financial💰 asset (DFA) issued through Atomyze. The platform obtained registration from the Bank of Russia in February 2022, becoming the country’s first📑 legal digital asset manager.

Cryptocurrency lender💱 BlockFi, which just weeks ago finalized🔚 a $400 million💰 loan and potential acquisition terms with crypto exchange💱 FTX, is offering 🤝employees buyouts❌ as a way to quietly reduce headcount. The move comes one month after cutting✂️ 20% of its staff.

A BlockFi employee👥 told that the company is offering💬 employees 10 weeks paid💸 leave and 10 weeks of continued health insurance🏥 (commonly referred to as COBRA, which stands for the Consolidated Omnibus Budget Reconciliation Act) to resign. The source also said💬 that the company has assured employees that if they accept🤝 the buyout, they will be eligible for unemployment.

Conclusion: Despite improving market sentiment, cryptocurrency workers continue to decline. Jed McCaleb took out all the ripples that were. It's not a good time to be loyal to Stellar.

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