Worldcoin launches operations in Malaysia
A memorandum of understanding (MoU) has been signed between the Worldcoin Foundation, Tools for Humanity and the Malaysian government to launch Worldcoin operations in Malaysia.
The Worldcoin project aims to preserve the future of the internet by distinguishing between human and non-human actors, providing individuals with World IDs after an iris scan.
Despite facing privacy concerns, Worldcoin has expanded its partnerships globally, including recent agreements with nations like Austria.
The MoU includes discussions on manufacturing iris-scanning orbs in Malaysia and potentially integrating Worldcoin’s World Chain protocol with Malaysia's blockchain infrastructure.
The MoU was signed by Malaysia’s MIMOS Berhad, following earlier meetings between Worldcoin co-founders Sam Altman, Alex Blania and Malaysian officials in April.
'Promising' spot bitcoin ETF inflows
Coinbase analysts noted that rising inflows into spot bitcoin ETFs, even during bitcoin's underperformance, suggest sustained interest from new capital pools.
The percentage of institutional ownership in bitcoin ETFs increased from 21.4% to 24.0% in Q2 2024, driven by growing interest from investment advisors.
While hedge fund bitcoin ETF holdings decreased, the decline may reflect a cash and carry arbitrage strategy as open interest in bitcoin futures on the CME rose by 15% to $2.75 billion in Q2.
Illicit crypto activity onchain down 20%
The report highlights that inflows into legitimate cryptocurrency services are at their highest level since the 2021 bull market, signaling continued global adoption of crypto.
Despite the overall decline in crypto crime, inflows from stolen funds and ransomware jumped to $1.58 billion and $459.8 million, respectively.
The report also notes a rise in the average value of stolen cryptocurrency per heist, partly due to higher bitcoin prices, and warns that 2024 could set a new record for ransomware payments.
Bitcoin sidechain developers unveil BitVM2 whitepaper
The whitepaper outlines efforts to improve transaction efficiency on the Bitcoin network, focusing on enhanced transaction handling and updated cryptographic methods.
BitVM2 aims to increase Bitcoin's transaction capacity without altering its core principles, utilizing optimistic computation to scale with sidechains.
The whitepaper also introduces a permissionless system for challenging suspicious transactions and enhances the BitVM Bridge by reducing capital requirements and asset lock-up periods for faster transfers between networks.
SERA taps Base for NFT drop that could bring a holder to space
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Holders can participate in SERA's astronaut selection program by purchasing the NFTs, with opportunities to earn one of six seats on the New Shepard rocket and fast-track their progress through the selection process.
The selection and voting process for astronauts will be conducted onchain, ensuring transparency and fairness while advancing SERA's mission to democratize access to space.
A look at next week
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