🏝️ GM!

Welcome back to your weekly dose of web3 insights! Your go to source for everything DeFi, RWAs, and Zivoe.

Here’s what we’ve got for you today:

1. Market Movements

2. Bite-Sized Bits

3. Zivoe Moves Launch To August 22nd

4. Zivoe In The News

5. Update On ETH ETFs

6. Memes Of The Moment

📉 Market Movements

🟠 Bitcoin: $64,290.20 (- 4.19%)

🔵 Ethereum: $3,134.58 (- 3.26%)

🟣 Solana: $163.89 (- 8.59%)

🟡 Fear & Greed Index: 57 (Greed)

🍪 Bite-Sized Bits

BlackRock rules out Solana ETF despite success of its BTC and ETH ETFs
BlackRock has confirmed that it has no plans to launch a Solana ETF (SOL) in the near future, despite the success of its Bitcoin and Ethereum ETFs this year. Samara Cohen, CIO of BlackRock, said that the launch of a Solana ETF is "not planned in the near term". She explained that "investment capacity" and client demand are key criteria that bitcoin and ethereum currently meet.

Donald Trump to create strategic bitcoin reserve
At the Bitcoin Nashville this week, Donald Trump unveiled his plans for the cryptocurrency sector. He stated that he would prevent the U.S. from selling the 213,000 bitcoins held by the government, and that these bitcoins would be held to create a National Strategic Bitcoin Reserve. He also promised to fire Gary Gensler on day 1, if elected.

Senator Cynthia Lummis reveals her "Bitcoin Act" project
U.S. Senator Cynthia Lummis officially introduced the Bitcoin Act in the Senate on July 31. This project aims to establish a strategic bitcoin reserve to manage the government's bitcoin holdings in a transparent manner.

US government transfers $2 billion in crypto
The US government has transferred about $2 billion in BTC from Silk Road. According to Arkham, the funds were sent in two batches of $669 million and $1.33 billion, presumably to an institutional custodian such as Coinbase.

Circle prepares for IPO at $5 billion valuation
Circle, the issuer of the USDC stablecoin, is preparing to go public. Circle's private shares are currently trading on the secondary market at a valuation of between $5 billion and $5.25 billion.

$5.2 billion in H1 profits for Tether
Tether reported record H1 profits of $5.2 billion, with excess reserves of $5.3 billion, underscoring its financial stability and surpassing Germany in the number of Treasuries it holds.

Hamster Kombat prepares "biggest airdrop of all time”
Hamster Kombat's airdrop will work as follows: 60% of the HMSTR tokens will be distributed directly to players. The remaining tokens will be used to provide liquidity, develop partnerships and reward teams.

SEC no longer wants to classify SOL, ADA and MATIC as securities
The SEC is no longer asking a court to declare BNB, BUSD, Solana, Cardano and other cryptos mentioned in its lawsuit against Binance as securities.

El Salvador to use cryptos to trade with Russia
El Salvador has proposed to use cryptos to trade with Russia in order to circumvent the economic sanctions imposed on Moscow. The initiative aims to overcome the financial and logistical obstacles associated with the sanctions.

California DMV Digitizes 42 Million Car Titles on Avalanche Blockchain
Oxhead Alpha announced today a large-scale implementation for California’s Department of Motor Vehicles (DMV) on Avalanche, successfully digitizing 42 million car titles as part of an ongoing effort by the state to modernize the title transfer process for California drivers and DMV representatives. Together, the three partners are building a DMV-run blockchain to streamline the vehicle title transfer experience for California’s 39 million plus residents.  

🚀 Zivoe Moves Launch To August 22nd

🚨 Attention Zivoenauts 🚨

We scrubbed this week’s July 31st launch and have rescheduled it for August 22nd at 11AM EST (3PM UTC). 

Reasons for the Push: 

1. We are in discussions with partners who we believe are going to bring significant value to the community. This additional time enables us to align our launch with their schedules and secure these collaborations.

2. With this additional time our team will also be making updates to our dApp to improve the user experience.

Next Steps: 

1. All previously communicated ITO plans remain the same, just on a new timeline.

2. Mark your calendars for August 22nd at 11am EST (3PM UTC).

3. Follow our official channels for updates and new content.

4. Reach out to our team with any questions. We are always here for our community.

Thank you to everyone for your continued support as we work towards transforming lending by integrating web3 with real-world assets (RWA). We're excited about the value these additional weeks will bring to our launch and our community. Feel free to contact us – we appreciate your continued support!

📰 Zivoe In The News

🔥 Update On ETH ETFs

The much-anticipated Ethereum ETFs have been live for just over a week now, and their performance is exerting considerable pressure on the market. In particular, Grayscale's ETHE has been dragging Ethereum prices downward. In just seven trading days, ETHE has offloaded over $2 billion worth of ETH, resulting in approximately $285 million in daily outflows. This has led to cumulative net outflows of -$456.43 million, with Ethereum's price hovering around $3,100.

However, there are signs that the situation may be improving. It appears that outflows from ETHE are beginning to slow down. According to Steno Research's senior analyst, Mads Eberhardt, it’s “likely” the massive outflows from Grayscale’s ETHE will begin to subside by the end of this week, adding that slowed outflows are a bullish catalyst for the price of ETH.

As the market navigates these developments, observers are closely watching how these ETFs will impact Ethereum's pricing and overall dynamics in the weeks ahead.

🐸 Memes Of The Moment

📲 Join The Fight Against High Interest Lending!

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