Author: John Smith

The U.S. Securities and Exchange Commission has issued interim guidance allowing certain U.S. dollar-backed stablecoins to be treated as cash equivalents on corporate balance sheets.  Summary SEC permits qualifying USD stablecoins to be reported as cash equivalents. Applies only to fully backed, redeemable tokens with 1:1 pegs. Complements GENIUS Act and broader reforms under SEC Chair Paul Atkins. Reported on Aug. 5 by Bloomberg Tax, the guidance is a part of a wider initiative led by SEC Chair Paul Atkins to modernize cryptocurrency regulation. Stablecoins that qualify under this guidance must meet strict criteria such as full backing by cash…

Nexus Mutual has transferred $250,000 to reimburse users caught in Arcadia Finance’s $3.5 million exploit, marking one of Base blockchain’s first major insurance settlements. The payout arrives as Arcadia’s own recovery plan remains weeks from implementation. Summary Nexus Mutual paid $250,000 to victims of Arcadia Finance’s $3.5 million hack, marking one of Base chain’s first major insurance settlements. The payout offers early restitution ahead of Arcadia’s own delayed recovery plan based on “Recovery Tokens.” On August 4, crypto insurance alternative Nexus Mutual announced it had paid out $250,000 to users impacted by the July 15 Arcadia Finance exploit on Base,…

MemeCore has surged 24.14%, confirming a breakout above a key range high. The move signals an active bullish Elliott Wave count with further upside in play if key levels hold. Summary MemeCore is in Wave 3 of a bullish Elliott Wave sequence targeting $0.77. $0.62 is the key resistance to flip for continuation. $0.52 serves as the ideal corrective support if Wave 4 begins. After trading sideways for weeks, MemeCore has now confirmed a structural breakout with strong impulsive momentum. The price held a critical support zone before launching into a rally that now challenges major resistance. Technical confluence supports…

As RWAs cement themselves as crypto’s second-fastest-growing sector, a who’s-who of fintech and blockchain heavyweights are launching Ascend, a hyper-selective program designed to turn startups into the standard-bearers of institutional adoption. Summary Ascend is a new elite accelerator for real-world asset (RWA) startups with live products and institutional goals. Backed by Odisea, Plume, Galaxy Ventures, and Anchorage Digital, it will admit only 6–8 teams per cohort. According to a press release shared with crypto.news on August 4, Odisea has teamed up with an all-star roster of backers, including Plume, Galaxy Ventures, and Anchorage Digital, to launch Ascend, an accelerator exclusively…

OpenMind plans to create a decentralized operating system for smart machines. Summary OpenMind obtained $20M in funding, led by Pantera Capital Other backers include Coinbase Ventures, DCG, and more The startup plans to create an open-source OS for robotic intelligence Crypto and robotics may soon become a powerful synergy. On Monday, August 4, Pantera Capital led a $20 million funding round in OpenMind. Other investors include Coinbase Ventures, DCG, Ribbit, Lightspeed Faction, Pebblebed, Topology, among others. The firm, whose CEO is Stanford professor Jan Liphardt, is working on FABRIC, creating a decentralized operating system for robots. “If AI is the…

Grayscale Investments has announced the return of founder Barry Silbert as board chairman in  a move that also saw the digital asset manager expand its management team with new board hires. Summary Grayscale founder Barry Silbert has rejoined the company as board chair. The company has also hired four other members to join the management team. Barry Silbert’s return comes as Grayscale prepares for the company’s next phase of growth, according to an announcement.  As well as Silbert, Grayscale has added four new faces to its C-suite team, with Diana Zhang as chief operating officer, Ramona Boston as chief marketing…

Chainlink has unveiled Chainlink Data Streams for equities and exchange-traded funds listed in the United States as it looks to boost adoption across the tokenized real-world assets market. Summary Chainlink announced Data Streams for equities and exchange-traded funds on Aug. 4. Data Streams is supported by 37 blockchains and will be key to the growing tokenized assets industry. Chainlink Data Streams for U.S. equities and exchange-traded funds offers real-time market data across 37 blockchains targeted at pricing for tokenized financial products. Some of the traditional finance assets that will benefit from this launch include tokenized shares of the S&P 500,…

MYX Finance rose more than 200% in just one day, as trading volumes hit $64 million. Summary MYX Finance rose more than 200% amid speculative trading Trading volume rose to $64.76M, and its market cap to $43.22M Still, the rally is showing signs of fragility Despite relatively modest performance by major crypto assets today, smaller altcoins can still show major gains. On Monday, August 4, MYX Finance (MYX), a decentralized exchange token, reached an all-time high of $0.3664, after rising more than 200% in a single day. Thanks to the rally, the token’s market cap reached an ATH of $49…

The social media rumor mill once again started circulating news of a supposed fresh Chinese ban on all crypto assets. Summary Rumors on social media suggest that China bans crypto Similar rumors circulated in the past There were no notable changes in Chinese crypto policy If you follow the crypto community on X, it seems like China bans crypto every few months. On August 3, several social media accounts reported a supposed Chinese ban on crypto assets. These accounts claimed that the ban applies to both crypto trading and mining, as well as “related services.” X post suggesting that China…

A Coinbase UK ad campaign was abruptly shut down after TV networks refused to air it, and the exchange’s CEO isn’t staying quiet. Summary Coinbase CEO Brian Armstrong criticized UK broadcasters for blocking the company’s recent crypto ad campaign. Armstrong said the decision reflects outdated perceptions of crypto in the United Kingdom. The UK’s lack of clear crypto rules has drawn criticism from experts. Some community members have condemned the tone of the Coinbase campaign. In an August 4 post on X, Coinbase CEO Brian Armstrong condemned the United Kingdom’s ban on its latest advertisement, saying its message must have…