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Here Are the Top Crypto News of the Day Curated by CoinChapter.com
Pacmoon Announces Migration from Blast Network
Pacmoon, the memecoin on the Blast network, is migrating to the Solana blockchain. The Pacmoon team said building on Blast has been challenging, as the network did not focus enough on native tokens, community, and culture.
As part of the move, Pacmoon will rebrand and relaunch as a new token called $ARMY. The team believes Solana will be the top destination for memecoins, citing growing retail and institutional interest in the blockchain.
Source: X
The Pacmoon team instructed holders to burn their $PAC tokens before Aug. 14th and said they will airdrop the new $ARMY tokens to holders based on the amount of $PAC they burned. The Pacmoon website currently displays a countdown, indicating the migration will occur in six days on August 14th.
Crypto News: Nexera Burns 32.5M Stolen NXRA Tokens
Nexera, a decentralized finance (DeFi) protocol, has burned 32.5 million NXRA tokens. In a separate response, Nexeraâs official Twitter account announced several steps taken to address the hack.
Source: X
However, to mitigate the damage, the Nexera team quickly froze the remaining 32.5 million NXRA tokens in the attackerâs wallet. This action prevented the stolen and frozen tokens from being used, traded, or circulated within the market.
U.S. BTC ETFs Attract $45 Million
U.S. Spot Bitcoin exchange-traded funds (ETFs) saw $45.14 million in net inflows. This comes after around $554 million left the bitcoin ETFs in the past three trading days.
U.S. BTC ETF attracted over $45M in net inflows. Source: SosoValue
BlackRockâs IBIT led inflows with $52.52 million. Additionally, Grayscaleâs Bitcoin Mini Trust added $9.71 million, and Bitwiseâs BITB recorded $3 million in net inflows.
Grayscaleâs converted GBTC fund was the only Bitcoin ETF that recorded net outflows of $30.58 million. Seven other funds, including Fidelityâs FBTC and VanEckâs HODL, saw zero flows for the day.
Spot Ethereum ETFs, on the other hand, switched to net outflows, losing $23.68 million yesterday. Outflows were led by Grayscaleâs ETHE, which saw $31.86 million in net outflows.
Crypto News: Brazil Approves Solana-Based ETF
The Brazilian Securities and Exchange Commission (CVM) has approved a Solana-based exchange-traded fund (ETF). This is the first Solana-based ETF product in Brazil and among the first globally. The first Solana-based exchange-traded product (ETP) was launched by Switzerland-based investment product provider 21Shares on the SIX Swiss Exchange in June 2021.
Source: X
According to CVMâs database, the Solana-based ETF is in a pre-operational stage, so the Brazilian stock exchange, B3, has yet to approve it. Brazilian asset manager QR Asset will offer the ETF, while Vortx, a local fintech focused on capital markets, will serve as its manager.
FTX, Alameda Ordered to Pay $12.7B to Creditors
A New York judge has approved a $12.7 billion settlement between defunct crypto exchange FTX, its sister trading firm Alameda Research, and the United States Commodity Futures Trading Commission (CFTC). The United States District Judge Peter Castel officially approved the consent order, which FTX and Alameda entered into to resolve a 20-month-long lawsuit from the CFTC.
Notably, the commodities regulator did not seek a civil monetary penalty, meaning the entire $12.7 billion sum will be used to pay back FTX creditors directly. FTX and Alameda agreed to pay back $8.7 billion to victims.
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