Hamster Kombat, a game launched on Telegram in March 2024, has attracted over 200 million users, making it one of the fastest-growing applications in history. The game, which involves clicking on a hamster avatar to earn coins, has seen user engagement average over 20 minutes per day. The game's creators have hinted at a potential cryptocurrency airdrop and onchain functionality on the TON blockchain, keeping players hooked with the idea that their digital earnings could become real cash. The game also boasts a massive social media following, with 47.4 million Telegram subscribers, 30 million YouTube followers, and 10.8 million Twitter followers.

Nigeria's Economic and Financial Crimes Commission (EFCC) chairman, Olanipekun Olukoyede, has called for the use of blockchain technology and AI to combat illicit financial flows (IFFs) in Africa. Speaking at the Pan-African Conference on Illicit Financial Flows and Taxation, Olukoyede highlighted the $88.6 billion lost annually due to IFFs. He suggested that recovered funds could significantly improve infrastructure, healthcare, and education across the continent. Nigeria has recently taken steps to embrace these technologies, with the National Information Technology Development Agency (NITDA) restructuring the National Blockchain Policy Steering Committee and advocating for AI incorporation into the country's security framework.

Binance, the world's largest cryptocurrency exchange, has failed to dismiss most claims made against it by the U.S. Securities and Exchange Commission (SEC). The court will proceed with claims related to Binance's staking program, the sale of BNB after its initial coin offering, and anti-fraud violations. However, the SEC's claims regarding BNB secondary market sales and sales involving Binance USD were dismissed. The SEC sued Binance in June 2023, alleging the sale of unregistered securities and illegal operation in the U.S. Despite the ongoing lawsuit, Binance continues to thrive with over 200 million users and $100 billion in assets under management.

Billionaire and former PayPal CEO, Peter Thiel, has expressed uncertainty about Bitcoin's future price growth. Despite owning some Bitcoin, Thiel is unsure where the next wave of buyers will come from, especially after the cryptocurrency's ETF edition. Thiel's Founders Fund has a significant history with Bitcoin, making its first investment in 2014 and profiting $1.8 billion before the market crash in 2022. Thiel also shared that Bitcoin hasn't lived up to its original cypherpunk vision, stating it "doesn't really work that way." Bitcoin is currently trading at $60,450.

The US Internal Revenue Service (IRS) has released its final draft for crypto broker reporting requirements, exempting decentralized exchanges and self-custody wallets. The IRS stated it needs "more time to consider the nuances" of decentralized networks. However, stablecoins and tokenized real-world assets are not exempt and will be treated like other digital assets. IRS Commissioner Danny Werfel emphasized the need to ensure digital assets are not used to hide taxable income. Industry groups have raised concerns about the potential regulatory burdens and compliance costs the new rules could impose.

The Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) are joining forces to explore interoperability between their central bank digital currency (CBDC) infrastructures. The collaboration aims to improve cross-border transaction settlement efficiency. The HKMA will use its Project Ensemble sandbox for research, while the BDF will utilize its DL3S platform. Project Ensemble, launched in March, aims to study asset tokenization and create a CBDC to support it. The HKMA and BDF are also part of other projects, including the European Central Bank's distributed ledger technology testing.

Crypto exchanges are delisting stablecoins to comply with the EU's new Markets in Crypto-Assets Regulation (MiCA). Bitstamp has removed Tether's EURT, while Uphold has dropped six popular stablecoins. Binance is now categorizing stablecoins as "regulated" or "unauthorized" based on MiCA compliance. The regulation, which will be fully implemented by December 2024, aims to provide investor protection and contribute to financial stability. Meanwhile, Jump Crypto's president, Kanav Kariya, has resigned amid a US Commodity Futures Trading Commission investigation. Gaming conglomerate Animoca Brands is planning a return to the public market, and Riot Platforms is seeking to replace three Bitfarms board members. Finally, Brazilian neobank Nubank is bringing the Bitcoin Lightning Network to its 100 million customers in Latin America.

In a recent cybersecurity incident, researchers from CertiK discovered a critical vulnerability in Kraken's Digital Asset Exchange. The flaw could have allowed attackers to "double spend", faking a deposit into the exchange and withdrawing the same amount. CertiK reportedly exploited the vulnerability at least 20 times over five days, claiming they were testing Kraken's detection mechanisms. Although all funds taken during this "testing" have been returned to Kraken, the incident raises questions about the ethics of white hat hacking and the need for trust and transparency in the industry.

Bitcoin mining company Bitdeer has signed a 30-year lease with the Monroe County Port Authority for a site at the Hannibal Industrial Park in Ohio. The site, previously an aluminium factory, has the infrastructure to support Bitdeer's mining operations. The company plans to secure up to 570 MW of additional power in two phases, with the first 266 MW delivered in Q3 2025. Bitdeer, which has one of the lowest energy costs in the industry, recently received a $150 million investment from stablecoin issuer Tether. However, concerns about miner profitability have increased due to high energy costs and decreased block rewards.

Bulls are keeping Bitcoin above $60,000, showing they're not waiting for a dip to $56,552 before buying, according to Farside Investors. However, a failure to break out to a new high above $73,777 has led to a drop in bullish sentiments across major social media platforms. Meanwhile, Bitwise's Matt Hougan predicts that spot Ether ETFs could attract $15 billion in net inflows within 18 months of their launch. As for altcoins, analysts are predicting various outcomes based on current market trends and chart analysis.

Hong Kong is eyeing DeFi and metaverse technologies as potential avenues for fintech expansion, according to recent government-backed studies. Meanwhile, AssangeDAO, a decentralized organization, spent $37 million to secure the freedom of WikiLeaks founder Julian Assange. In other news, crypto losses from hacks and scams in DeFi surged over 100% in Q2 2024, reaching a staggering $572 million. A MakerDAO governance delegate also fell victim to a phishing scam, losing $11 million worth of tokens. Lastly, the total value locked in DeFi protocols dipped below $100 billion, indicating a mixed week for DeFi's top 100 tokens.

Despite the U.S. Federal Reserve's recent inflation figures indicating a slowdown, the cryptocurrency market hasn't reacted positively. The Fed's expansionary policies, which include interest rate cuts and increased liquidity, typically boost demand for high-growth assets like Bitcoin. However, the success of these strategies has strengthened the U.S. dollar, causing cryptocurrencies to underperform. While lower inflation hasn't yet impacted the crypto market positively, experts suggest a potential rally for Bitcoin and other cryptocurrencies shouldn't be ruled out later in 2024.

The first of three US presidential debates for the 2024 election took place on June 27, but key tech topics were noticeably absent. Despite the significant impact of artificial intelligence (AI) on the US economy and stock market, and the looming threat of "Q-Day" when quantum computers could crack standard encryption, neither topic was addressed. This omission is surprising given that AI is predicted to bring $13 trillion to the global economy by 2030. Also absent from the debate was any mention of cryptocurrency, blockchain, election security, deepfakes, or social media. Future debates may cover these tech and fintech topics.

Hamster Kombat, a Telegram-based game, has become the third-fastest app to reach 150 million users, after Pokémon GO and Threads. The game, described as a "crypto exchange CEO simulator", has gained 200 million users in three months. The game's YouTube page is outpacing the subscription numbers of Mr Beast, the platform’s most subscribed-to channel globally. The team has applied for a Guinness World Record as the first YouTube channel to gain over 10 million subscribers in one week. Hamster Kombat is currently earning $11 per 1,000 views in advertising revenue from its YouTube channel.

SEC Slaps Lawsuit on Consensys, MetaMask's Parent Company

The US Securities and Exchange Commission (SEC) is taking Consensys, the parent company of MetaMask, to court. The lawsuit, filed on June 28, alleges that Consensys has been operating as an unregistered broker and engaging in the unregistered offer and sale of securities through MetaMask since 2020.

The SEC claims that Consensys has raked in over $250 million in fees by brokering crypto asset transactions and offering staking services without proper registration. This lack of registration, the SEC argues, has deprived investors of crucial protections.

The SEC is seeking a permanent injunction, civil penalties, and other equitable relief against Consensys for these alleged violations. The regulator also accuses Consensys of facilitating investments in Lido and Rocket Pool's staking programs, acting as an intermediary in unregistered transactions. Stay tuned for more updates on this developing story.

Kazakhstan's Financial Services and Regulatory Committee (AFSA) has greenlit Toncoin (TON) for trading on regulated exchanges. TON, the native asset of The Open Network, is now among 107 cryptocurrencies approved by Kazakhstan, including Bitcoin and Ether. The Open Network, popular in the developing world, uses Telegram's 800 million daily users to deliver mini-apps and in-app payments. Blockchain gaming is a key part of the TON ecosystem, with games like Hamster Kombat gaining attention. However, the network faces issues like phishing attacks due to its integration with Telegram.

Crypto firm 21Shares has submitted an application to the US Securities and Exchange Commission (SEC) for a Solana (SOL) exchange-traded fund (ETF), hot on the heels of VanEck's similar filing. The proposed 21Shares Core Solana ETF will trade on the Cboe BZX Exchange, with Coinbase acting as custodian for the fund's SOL holdings. Notably, the fund will not engage in validating or staking SOL. The value of SOL within the fund will be determined daily at 4:00 ET. Following the news, SOL's price jumped from $139 to $150 before settling at $141.58. More updates to follow.

Nostra Finance, a decentralized finance (DeFi) platform, is under new management following the resignation of its former CEO, David Garai. The news comes less than two weeks after the launch of Nostra's (NSTR) token. Richard Thomas-Pryce, the company's head of product, will take over the reins. Nostra offers a suite of DeFi services and aims to be a "crypto super app". Following the announcement, the NSTR token's value dropped by nearly 6%. Despite speculation about the timing of his departure, Garai denies any connection between the token's launch and his resignation.

Bitcoin (BTC) is treading water in the lower $61,000 range, despite the latest Personal Consumption Expenditures (PCE) Index data conforming to expectations. The PCE, the Fed's preferred inflation gauge, showed a 2.6% year-on-year reading, the lowest since March 2021. Market sentiment continues to favor the Federal Reserve cutting interest rates at the September meeting of the Federal Open Market Committee. However, traders are concerned about Bitcoin's price support, warning that bid support below $60,000 is dissipating. This comes amid declining retail sales and a 17% rout in the stock of clothing giant Nike.

Curve Finance (CRV) has switched its fee distribution from the 3crv token to its own stablecoin, crvUSD. The change aims to increase crvUSD's utility and integrate it into the Curve Finance ecosystem. The shift to crvUSD will simplify the process for users, as the stablecoin doesn't need to be converted to be used in Curve Finance products. The distribution of fees in crvUSD will also encourage users to engage more with products and services that use it. Curve Finance is addressing potential liquidity concerns and risks associated with the transition.