🌄 GM!

Happy Friday Everyone!

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 In The News

4. Memes Of The Moment

📈 Market Movements

Markets this month:

🟠 Bitcoin: $59,455.81 (- 2.69%)

🔵 Ethereum: $2,522.10 (- 5.45%)

🟣 Solana: $139.77 (- 3.11%)

🟡 Fear & Greed Index: 34 (Fear)

🍪 Bite-Sized Bits

👨‍⚖️ Legal

Telegram CEO, Pavel Durov, Arrested | 12 Charges Brought Against Him
Pavel Durov was arrested last Saturday in France at Le Bourget airport and taken into custody for 96 hours in connection with an investigation into Durov providing cryptography tools and services — i.e., Telegram — to criminals. Durov faces 12 charges, including complicity in organized fraud, distribution and possession of images of child pornography, and drug trafficking. Durov was released from police custody, but he is forbidden to leave France and had to post bail of €5 million to be released. Telegram says it has “Nothing To Hide.”

Kraken faces SEC
The case between Kraken and the SEC has intensified after Federal Judge William H. Orrick denied Kraken's motion to dismiss the SEC's complaint, setting the stage for a major legal battle.

SEC warns OpenSea
The SEC appears to be widening its focus to NFTs, targeting OpenSea. Devin Finzer, CEO of OpenSea, revealed on X that the platform had received a ‘Wells notice’ from the SEC, warning that the organisation is considering classifying certain NFTs as ‘securities’.

Jailed former FTX exec Ryan Salame withdraws his request to compel government to abide by plea deal
Ryan Salame sought to rescind his plea agreement, alleging a broken promise regarding the Michelle Bond investigation. This application was rejected, describing it as a ‘shameless attempt’ to recant after his conviction.

💰 DeFi

MakerDAO rebrands as Sky
MakerDAO is reinventing itself as ‘Sky’ and introducing two new tokens: the USDS stablecoin and the SKY governance token. Starting September 18th, users will be able to convert their DAI into USDS and their MKR into SKY.

Aave Labs proposes to integrate its stablecoin with BlackRock's tokenised fund
Aave Labs has proposed a major update to its stablecoin management system, integrating BlackRock's BUIDL tokenised fund into the GHO Stability Module.

PYUSD reaches $1bn market cap
PayPal's stablecoin PYUSD has passed $1bn in marketcap, doubling its offering since June. Despite a general slowdown in the crypto market, PYUSD activity has risen sharply, with more than 25,000 active wallets in July.

Tokenized Treasury notes have reached a market cap of over $2 billion, doubling in size in just five months.
RWAs to the moon! 🌖

Trump launches fourth collection of NFT cards
Former President Donald Trump has launched a fourth collection of digital trading cards in the form of NFTs, this time including a piece of his suit worn during the debate with President Joe Biden.

TON network down for 6 hours | TON Down 17.8% | TON TVL Down 40%
The TON blockchain has resumed block production after an outage of almost six hours due to a surge in traffic on the network. The outage appears to have been caused by the DOGS airdrop craze. News of Pavel Durov’s arrest and the network outage caused TON to plummet 17.8% and TON TVL to drop by 40%.

🏗️ Other

Celsius distributes $2.5bn to creditors
Celsius Network has distributed more than $2.53bn in crypto and cash to more than 251,000 creditors, according to its first status report filed with the US Bankruptcy Court for the Southern District of New York.

DCG released from all debts
Digital Currency Group announced that it had paid off all of its short-term debt in June, having repaid more than $1 billion to creditors over the past 18 months.

Nasdaq wants to introduce options on BTC ETFs
Nasdaq has submitted an application to federal regulators to offer options based on a Bitcoin spot ETF, in a bid to broaden investors' exposure to crypto assets.

Argentina incorporates blockchain into its school curriculum.
Argentina is now including blockchain and crypto in its secondary school curriculum in Buenos Aires. The initiative aims to train more than 500 students and prepare them for the growing needs of the local Web3 ecosystem.

📰 Zivoe In The News

There’s just 22 days left to participate in Zivoe’s Initial Tranche Offering. Earn up to 22% APR when you deposit, plus earn $ZVE Airdrop Points! Deposit at https://app.zivoe.com

🐸 Memes Of The Moment

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