Top Stories This Week
– A key United States House panel has approved a pair of bills that could finally deliver some regulatory clarity to crypto firms in the country.
– Vitalik Buterin, the co-founder of the Ethereum network, released a long-form essay with his thoughts on the recently launched Worldcoin human identity verification system.
– Russia is moving forward with its central bank digital currency as President Vladimir Putin signed the digital ruble bill into law.
Binance withdraws crypto license application in Germany
– Binance has withdrawn its cryptocurrency custody license application in Germany.
– Former FTX CEO Sam “SBF” Bankman-Fried has agreed to a gag order preventing him from making comments to third parties that may interfere with his trial.
Winners and Losers
– At the end of the week, Bitcoin is at $29,331, Ether at $1,876 and XRP at $0.71.
– The top three altcoin gainers of the week are XDC Network (XDC) at 45.69%, GMX (GMX) at 11.82% and Bone ShibaSwap (BONE) at 9.60%.
– The top three altcoin losers of the week are Pepe (PEPE) at -12.36%, Gala (GALA) at -11.85% and Injective (INJ) at -11.58%.
Most Memorable Quotations
– “Our case and the decision rendered by our judge [Torres] will provide comfort to other judges that the SEC is just misguided.” – Stuart Alderoty, chief legal officer of Ripple.
– “In the months to come, we will add [to X] comprehensive communications and the ability to conduct your entire financial world. The Twitter name does not make sense in that context.” – Elon Musk, tech entrepreneur.
– “A world with no proof-of-personhood seems more likely to be a world dominated by centralized identity solutions.” – Vitalik Buterin, co-founder of Ethereum.
– “While the West continues to antagonize blockchain companies, Asia is welcoming us in with their arms wide open.” – Yves La Rose, CEO of the EOS Foundation.
– “We see it [Bitcoin] as an asset that has probably the best potential for growth of our capital reserves at the moment.” – Paul Brewster, CEO of Flooring Hut.
– “Companies creating AI technology have a responsibility to ensure that it is safe, secure, and remains under human control.” – Brad Smith, vice chair and president of Microsoft.
Prediction of the Week
– Bitcoin stayed range-bound at the end of the week despite United States inflation data beating expectations.
FUD of the Week
– Blockchain security firm Quantstamp is set to return $28 million raised in a 2017 initial coin offering (ICO) following charges brought by the U.S. Securities and Exchange Commission.
– The Alphapo payments provider hack is now estimated to have caused losses exceeding $60 million, according to a report from pseudonymous on-chain sleuth ZachXBT.
– The launch of memecoin Pond0x (PNDX) has led to millions of dollars in losses for investors, according to multiple reports on social media on July 28.
Best Coinpostman Features
– “Journeys: Hervé Larren on Bitcoin, Apes and the psychology of ‘blue-chip’ NFTs”
– “6 Questions for Simon Davis of Mighty Bear Games”
– “‘Elegant and ass-backward’: Jameson Lopp’s first impression of Bitcoin”