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💸 Circle Reveals Comprehensive Breakdown of USD Coin Reserves in Push Toward Transparency
According to a new company blog post, Circle is issuing its first ever monthly breakdown of USDC reserve assets to demonstrate the stablecoin’s full backing and peg to the US Dollar.
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🇭🇰Hong Kong Central Bank: Crypto is likely to be ‘important for future financial system’
Hong Kong Monetary Authority (HKMA) CEO Eddie Yue has stated that despite the shortcomings in the cryptocurrency sector, the industry is likely to play a central role in future financial systems.
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⭐️ Binance Overtakes Coinbase: Now Holds the Most Bitcoin in the World
Binance confirms its supremacy over Coinbase and other exchanges. In addition to its continued growth, it is now the exchange that holds the most Bitcoins in the world.
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🇮🇹Crypto. com Receives Green Light From Italian Regulator Amid European Expansion Move
It’s the most recent milestone in Crypto.com’s expansion; the company just received authorisation to operate in Greece, gained a license in Singapore in June, and opened an office in Dubai in March.
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🚙 Experts reveal what Tesla’s $936M sell-off means for Bitcoin
Telsa CEO noted that the sale “should not be taken as a verdict on Bitcoin” and is “certainly open to increasing our Bitcoin holdings in the future.”
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📩 This Week's Newsletter
- ETH Trade 72% 🆙
- Welcome to the Contribute2Earn Economy
- Beginner Friendly Web3 Gigs
🔗 Read it now
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🌏NFTs and DeFi startups dominate the Asia Pacific market leaving EV sector behind
Despite the volatility in the cryptocurrency sector and fears of market-wide difficulties, a new report has offered concrete evidence that crypto startups have found fertile ground for growth in the Asia Pacific.
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📜 U.S. Senators Propose Bill to Cut Taxes on $50 Crypto Payments
Senators Patrick Toomey and Kyrsten Sinema have joined forces to push for a new bill that would make crypto transactions up to $50 exempt from capital gains taxes.
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🛣 Polygon Announces Plans for 2nd Half After Hitting Significant Milestones in H1
In a recap shared on its official blog post, Layer 2 scaling platform Polygon discusses its journey in the first half of 2022, in which several milestones were met.
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📈 Bitcoin rose 17% in July – Best month since October 2021
July, Bitcoin (BTC) continued to sustain its short-term upside price momentum while the capital inflow into cryptocurrency investment products continued to soar. In particular, over the course of the month, Bitcoin increased in value by 17%, its highest monthly performance since October 2021. The climb, which saw the best monthly performance in 10 months, indicates that BTC is starting a new month on a positive footing after maintaining its crucial levels. However, BTC’s current price behavior makes it difficult to anticipate what will happen in the near future, since it appears to be participating in a short-lived bear market bounce.

What do you think? Will August be bullish or bearish?
Vote below! 👍 / 👎

🚀 Want to know our opinion?
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📣 Market Update (Aug 01 2022)
As every day, here is our daily market update. Find out what has influenced the price and what we expect in the coming days.
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📊 Ethereum’s open interest flips Bitcoin’s for the first time ever
The ongoing Ethereum (ETH) network upgrades have pushed some analysts to speculate that the second-ranked cryptocurrency might in the future take over Bitcoin (BTC). This possibility has been partly realized after Ethereum flipped Bitcoin in the options market for the first time in history.
In particular, as of August 1, the open interest of Deribit Ethereum options valued at $5.6 billion exceeded the open interest of Bitcoin options valued at $4.3 billion on all exchanges, data by crypto analysis platform Glassnode indicates.
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⚠️ Almost 8,000 Solana Wallets Drained in Suspected “Supply Chain” Exploit
Multiple teams working in the Solana ecosystem are investigating the root cause of the incident.
At least 7,767 Solana wallets have been affected. Engineers from multiple ecosystems, with the help of several security firms, are investigating drained wallets on Solana. There is no evidence hardware wallets are impacted. Engineers are currently working with multiple security researchers and ecosystem teams to identify the root cause of the exploit, which is unknown at this time.

If your wallet was one of the 7,767 impacted please complete this survey – engineers are investigating the root cause.
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💻 Michael Saylor breaks the silence on dropping MicroStrategy CEO role
After the news of Michael Saylor stepping down from his role as MicroStrategy’s CEO to be replaced by the company’s President and CFO Phong Le, shook the cryptocurrency sector, the man himself has given several interviews to major media outlets justifying his decision. As Saylor explained in an interview with Yahoo Finance Live published on August 3, the job of the Chief Executive Officer “is primarily to run a software business”. Describing his future role as the Executive Chairman, Saylor insisted that he was going to remain involved with the business: “Many people don’t realize I’m the controlling shareholder of the company so I’m the Chair of the Board. I’ll remain the Chair of the Investments Committee that oversees our Bitcoin acquisition strategy...".
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