🗝 The most crucial crypto market events for the upcoming week (July 31 - August 7)

Also, what's going on in the US case against cryptocurrencies, the latest news on how Binance is fighting for survival, and more.

Hey there, crypto enthusiasts and blockchain believers! Get ready to embark on an exciting journey through the ever-evolving world of cryptocurrencies with our buidlbee team!

We'll bring you the latest market trends, insightful analyses, and bright ideas that could accelerate your crypto performance. Hop on board, buckle up, and join us on this thrilling expedition through the blockchain universe. In today's newsletter, you'll find interesting content such as:

  • US vs. crypto: the latest news;

  • Continuing to watch as Binance struggles to survive;

  • List of major crypto events for July 31-August 7;

  • Token launches and unlocks;

  • Cryptocurrency and NFT airdrops and freebies.

Top recent news:

  • The meme coin BALD launched on the Base network made 30,000x in 24 hours and then collapsed 86%.

  • Curve has been hacked for over $40M. Alchemix (alETH) exploiter made a transaction with a message on the onchain announcing its intention to return the funds.

  • A subsidiary of Dubai-based cryptocurrency exchange Binance (Binance FZE) has received a minimum viable product (MVP) license from the local Virtual Asset Regulatory Authority (VARA).

  • DEXScreener: The daily transaction volume in Base passed 550,000 due to the large number of meme coins.

  • The SEC sued PulseChain and HEX founder Richard Heart for securities fraud.

🏦 Epic fight for American banks

Last week saw another interest rate hike by the Fed. Right now, the Fed interest rate is 5.25% to 5.5%. This hike was immediately followed by the official collapse of yet another bank in the U.S. this year. This time, it was the Heartland Tri-State Bank.

Amidst the Fed's unprecedented support of the banking system, it is surprising why bank failures continue. The Fed is injecting record amounts of $ into the U.S. banking system as part of its emergency bailout program (BTFP). As you can see in the chart below, each week the Fed's bailout of the banks has been on the increase and setting new highs, and it is currently reaching $103B per week!

📙 Crypto confrontation in the US

Coinbase's CEO told the press that the SEC ordered him to delist all assets other than BTC from the exchange. "How did you come to that conclusion?" the surprised CEO asked. The regulator replied, "We're not going to explain it to you, you just need to delist all assets other than BTC."

This whole controversy shows that the confrontation between the SEC and the crypto industry in the U.S. is chronic and is beginning to take absurd forms. Now the regulator doesn't even want to legislate its threats. The Coinbase CEO said that for now they are ignoring the regulator's bizarre demands. But the situation is uncertain, and potentially, a new phase of crisis could flare up around the leading altcoins.

Against the background of serial attacks by the SEC, the initiative of US lawmakers looks quite touching. They sent a letter to Apple's CEO, asking for a reasoned response on what grounds the Apple Store restricts with its rules the distribution of new technologies such as crypto, NFT, and other distributed ledger technologies. Such concern for crypto has caused us to wonder; against the backdrop of the SEC's destructive actions, it seems hypocritical.

🥊 Binance: fighting for survival

  • Bad news: last week it became known that Binance unexpectedly withdrew its license application in Germany. Today, the WSJ learned that CZ, along with its exchange, is under investigation by German regulators.

  • The good news: Binance announced that its Dubai-based subsidiary, Binance FZE, has become the first exchange in the world to receive a license from the Dubai regulator for both institutional and qualified retail traders.

This small victory shows the general pattern that crypto businesses will most often not be shut down under the pressure of a single regulator but will simply flow to friendlier regions where they can continue to operate quite legally and openly. So far, Binance has avoided clashes with regulators in various countries, often operating internationally in the gray zone. Let's see how this tactic will work over the long run.

⚓ Major crypto events (July 31 - August 7)

July 31

  • ISKRA Token has announced the launch of the game Norma in Metaland.

  • Solv Protocol (SOLV) is going to launch the first open-end fund.

  • Steam Exchange's (STEAMX) mainnet launch.

  • Wilder World's (WILD) gameplay teaser launch.

  • Sandbox (SAND) announced that due to maintenance, bridging will be disabled until the end of next week.

  • DigitalBits (XDB) has released Atomic Swap.

August 1

August 2

August 3

  • Alpaca Finance (ALPACA) Automated Vaults v.3.0 launch.

August 7

  • Gains Network (GNS) software update to v.6.4.

🔓 Tokens unlock

August 1

  • dYdX (DYDX) - 6.52M tokens to be released, or 3.81% of the circulating supply.

  • Acala (ACA) - 27.43M tokens to be released, or 3.56% of the circulating supply.

August 3

  • Sui (SUI) - 34.62M tokens to be released, or 5.29% of the circulating supply.

August 5

  • Galxe (GAL) - 7.613M tokens to be released, or 16.36% of circulating supply.

  • Tornado Cash (TORN) - 22.84K tokens to be released, or 1.51% of the circulating supply.

August 7

  • Hashflow (HFT) - 3.23M tokens to be released, or 1.84% of the circulating supply.

🏁 Token launchpads

August 1

August 5

  • Suzerain Pepe (SPEPE) memecoin launch on PinkSale.

August 6

  • CrypCade is a multichain metaverse built for Web3. iCADE tokens will be available via BSClaunch.

August 7

🆓 Crypto and NFT freebies

July 31

Time to wrap up this crypto-fabulous ride, our fellow hodlers! Keep those wallets stacked and remember to stay woke in the wild world of digital gold! Keep slayin', stay bullish, and may your portfolio soar to the moon and beyond! Peace! 🚀💸✌️

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