Top Blockchain News for Sep 13, 2023

September 13, 2023

Welcome to Morning Blockchain, where we’re here to help you power through the week with witty banter and clever insights. In today’s edition, we’ll explore topics like raising funds for blockchain ventures, the real-world consequences of regulatory actions, and the pursuit of global cryptocurrency regulations. We’ll also dive into the intriguing world of Dogecoin, building blogs with Django, and enhancing cross-chain liquidity with wrapped tokens. Plus, we’ll uncover the first bank-owned digital asset custody service and explore new investment opportunities in Ethereum and Bitcoin. So grab your energy drink of choice and get ready to crush it in the blockchain and cryptocurrency world!

Top Stories

Crypto VC Electric Capital aims to raise $300 million for new fund Electric Capital, a web3 venture firm, is looking to raise $300 million for its new fund, Electric Capital Venture Fund III, according to a filing with the Securities and Exchange Commission, showing continued interest and investment in the blockchain and cryptocurrency industry. Binance.US cuts staff, CEO departs: sources The head of Binance.US has left the firm as it lays off one third of its staff, amid the Securities and Exchange Commission’s (SEC) lawsuit and shrinking business, highlighting the real-world consequences of regulatory actions on the crypto industry. Coinbase to push for ‘global consensus’ on crypto rules through G20 in Brazil Coinbase plans to push for a unified set of rules for cryptocurrency operators globally at the G20 summit in Brazil next year, as part of its international strategy to establish clarity and consensus in crypto regulation. This is relevant to blockchain and cryptocurrency as it highlights Coinbase’s proactive approach in engaging with finance ministries, central banks, and regulators to shape the regulatory landscape for the industry. What is Dogecoin and how does it work? A beginner’s guide to DOGE Dogecoin is a cryptocurrency that was initially created as a joke but has gained a massive following and popularity, even being endorsed by Elon Musk; this article provides a beginner’s guide to Dogecoin, explaining its origins, characteristics, and how it works. This article is relevant to blockchain and cryptocurrency as it explores the unique place of Dogecoin in the crypto community and its distinctive features, such as its unlimited supply and faster transaction speed, which make it interesting for transactions and tipping. Building a blog in Django The article discusses the process of building a blog using Django, specifically focusing on the features and the Django model for the blog. This is relevant to blockchain and cryptocurrency as Django is a popular web framework that can be used to build applications related to blockchain and cryptocurrency, such as blogging platforms for blockchain enthusiasts or news platforms for cryptocurrency updates. 21co launches wrapped versions of bitcoin, XRP and other tokens 21.co, the parent company of 21Shares, has launched wrapped tokens to promote the adoption of DeFi, allowing assets like bitcoin to operate on Ethereum and be used in DeFi applications, thereby enhancing cross-chain liquidity and expanding the utility of crypto assets. Zodia Custody to offer digital asset services in Singapore Zodia Custody, a subsidiary of Standard Chartered, has launched its digital asset custody services in Singapore, becoming the first bank-owned entity to offer such services in the country, as it aims to tap into the growing demand for bank-grade custody of digital assets in the Asia-Pacific region. Nasdaq files with SEC for Hashdex mixed ether ETF The Nasdaq stock exchange has filed to list an Ethereum ETF from Brazilian asset manager Hashdex that aims to hold both spot ether and futures contracts, providing a middle-of-the-road option that reduces dependence on the spot market and mitigates concerns about potential manipulation in unregulated exchanges, making it relevant to blockchain and cryptocurrency as it explores new opportunities for investment in Ethereum within a regulated framework. Franklin Templeton files with SEC for spot bitcoin ETF Franklin Templeton has filed with the SEC for a spot bitcoin ETF, with the fund’s assets consisting primarily of bitcoin held by Coinbase Custody Trust Company, marking another step towards the approval of a spot crypto ETF despite the SEC’s recent decision to delay decisions on existing proposals for such ETFs. Crypto Custody Firm Qredo Integrates Circle’s USDC Stablecoin Qredo, a non-custodial wallet provider, has partnered with Circle’s USDC APIs to enable institutions to easily bring large amounts of money into the crypto space by converting it to USDC and storing it in their non-custodial wallets, offering a seamless transition from fiat to crypto. Ledn set to launch 8.5% APY ‘Growth Accounts’ for USDT Ledn, a crypto lender, is set to offer 8.5% APY on USDT savings deposits, providing the crypto industry’s highest stablecoin yield and a safer alternative to traditional money market funds, while bolstering its retail loan book and addressing the lack of trust in centralized lending platforms. Polychain-backed Manta launches Pacific Layer 2 on mainnet Manta Network has launched its Layer 2 blockchain, Manta Pacific, which enables the development of zero-knowledge-enabled apps and aims to reduce data fees, following a successful testnet phase and raising $25 million in funding; the Pacific network already hosts applications such as zkHoldEm, zkMe, and zkPass. Crypto stocks rally despite tech-heavy indexes slipping lower Crypto stocks rallied despite tech-heavy indexes slipping, with Coinbase and MicroStrategy seeing gains, indicating a positive price trajectory for blockchain equities following Bitcoin’s recent price recovery, while concerns arise over potential altcoin sell-offs and their impact on price appreciation. Fabian Vogesteller’s Lukso Blockchain Adds ‘Universal Profiles,’ in Push for ‘Fancy’ Ethereum Universal Profiles on the Lukso blockchain will eliminate transaction fees by allocating LYX for gas usage and providing a marketplace for users to select relay providers, making it easier and cheaper to transact on the blockchain. Gensler says SEC is reviewing Grayscale, spot bitcoin ETF applications The Securities and Exchange Commission (SEC) is still reviewing a court’s decision that favored Grayscale Investments in its bid for a spot bitcoin exchange-traded fund (ETF), which could potentially impact the approval of other spot bitcoin ETF filings by firms like BlackRock and Fidelity; however, the SEC still has the option to request a rehearing before making a final decision. Hyped Telegram bot Banana Gun’s team dumps treasury after token bug The Banana Gun team’s hyped-up launch of the Telegram bot token, Banana, turned sour when a smart contract bug caused the team to dump its treasury; however, they have promised to relaunch and compensate affected participants through an airdrop, making this relevant to blockchain and cryptocurrency by highlighting the risks and challenges involved in token launches and the importance of addressing bugs and vulnerabilities in smart contracts. Ethereum Developer Consensys Unveils ‘Snaps’ Add-Ons for MetaMask Wallet Consensys, the developer behind Ethereum and MetaMask, is introducing a cool new feature called “MetaMask Snaps” which lets users personalize their browser extension with app-like customizations, bringing more flexibility and convenience to the world of blockchain and cryptocurrency. Coinbase Paves Way for Big Institutions to Do More With Web3, DeFi, NFTs Coinbase is making it easier for big institutions to get involved in blockchain and cryptocurrency by providing a safe way for them to participate in on-chain activities such as Web3, DeFi, and NFTs. First Mover Americas: Altcoin Crash May Be on the Cards Bitget, a crypto trading platform, is creating a $100 million fund called the EmpowerX Fund to invest in exchanges, data analytics firms, and media organizations, in order to expand its services and take advantage of the evolving landscape of centralized exchanges, including the growth of layer-2 blockchain networks and DeFi technologies. Franklin Templeton Joins Spot Bitcoin ETF Race Franklin Templeton joins the growing number of financial giants hoping for the SEC to approve a spot bitcoin ETF, which would allow average investors to easily include bitcoin in their investment portfolios, contributing to the ongoing integration of cryptocurrency into traditional financial systems. MetaMask to be usable outside the EVM ecosystem with Snaps launch MetaMask has launched Snaps, a software mechanism that allows its web3 wallet to be used on blockchain networks incompatible with Ethereum, such as Cosmos, Solana, and Tezos, by integrating software modules for specialized use cases, opening up new possibilities for developers and expanding MetaMask’s reach beyond the Ethereum ecosystem.