On July 31, 2023, Senator Cynthia Lummis formally introduced the Bitcoin Strategic Reserve Act, which would require the US government to launch a reserve fund for the scarce and decentralized asset Bitcoin. This law aims to establish a "decentralized network of secure Bitcoin vaults" under the control of the US Treasury. It also instructs lawmakers and bureaucrats to take strict cybersecurity and physical security measures to prevent Bitcoin funds from being stolen.

The law aims to accumulate 1 million Bitcoins over time and purchase Bitcoins in amounts similar to the U.S. Treasury's gold allocation. While introducing this historic proposal, Lummis said that families in Wyoming are struggling with inflation and the national debt has reached new heights, and said, "It is time to take bold steps to create a brighter future for future generations."

Lummis' legislation also reaffirms the right to self-storage in the United States and seeks to protect that right. However, some politicians criticize this plan. Despite former President Trump's promise not to sell US Bitcoin assets, the government's transfer of 29,800 Bitcoins to an unknown wallet created controversy.

The US's $35 trillion national debt and inflation problems are encouraging those advocating a return to hard assets like Bitcoin. Turbofish CEO Matt Bell points out growing concerns about the sustainability of fiat currencies.

Share your thoughts in the comments!

The Bank for International Settlements (BIS) and the Bank of England have announced the results of Project Pyxtrial to track reserves of asset-backed stablecoins and tokenized assets. Pyxtrial is described as a proof of concept and is seen as an "important first step".

The system is not fully ready yet, and neither is the world, as regulations are still being created. Pyxtrial consists of a data model, database, and application programming interfaces (APIs). The processed data will be presented to regulators and auditors through a customizable dashboard.

Pyxtrial is designed to collect hourly data from blockchains and platforms hosting stablecoins. This data will be matched with data from issuers about the stablecoins' supporting assets. However, self-reporting from issuers may be inadequate. Pyxtrial users must have the authority to determine the data that should be submitted and the frequency of submission.

A related project, Atlas, can be used to provide some data to Pyxtrial. Atlas collects on-chain data from cryptocurrency exchanges and public blockchains and processes them for the needs of central banks.

Training users will be a challenge. The report authors state that operators need to have comprehensive knowledge of blockchain technology and regulations. On the other hand, Pyxtrial can be easily adapted to track other digital assets.

What do you think about Pyxtrial? We are waiting your comments!

OpenAI has rolled out the long-awaited "Advanced Voice Mode" (AVM) feature for ChatGPT to select users in a limited alpha release. This feature allows users to have real-time conversations with ChatGPT. Similar to the "Duplex" project that Google announced in 2018 and was later closed, AVM also offers human-like voice interaction.

OpenAI attaches great importance to security and privacy issues. The GPT-4o's voice capabilities were tested by more than 100 external experts and the model was trained to speak with only four preset voices.

How do you think this new feature will affect the user experience? Share your thoughts in the comments!

While Bitcoin (BTC) price continues to trend sideways, the daily chart is showing its third lower high (LH) since March and offers several key support levels for a potential recovery.

The lower highs observed in April and June 2024 led to significant corrections of 23% and 26%, respectively. While spot volumes have fallen 62% in the last four months, Bitcoin futures and persistent open interest remain near all-time highs.

BTC falling below the $63,000 support level could cause the price to decline further. Long-term support lies between $60,000 and $56,000.

Share your opinions in the comments!

Circle's stablecoin trading volume rose in July, thanks to a surge in market inflows and Europe's new rules for digital assets.

According to CCData's July 31 report, the trading volume of USD Coin (USDC) pairs on central exchanges reached $135 billion as of July 25, and the market value increased by 5.4% to $33.6 billion. With the implementation of the European Union's CryptoAsset Markets (MiCA) regulatory framework, Circle became the first stablecoin issuer approved in the region on July 1.

During the same period, Tether (USDT) showed slower growth, but increased its market value for 11 consecutive months, reaching $114 billion. Tether's market value increased by 1.6% in July. According to DefiLlama, USDT remains the largest stablecoin with almost 70% market share. Additionally, Tether reported record profits of $5.2 billion in the first half of 2024.

The market value of stablecoins increased by 2.1% in July, reaching $164 billion, the highest level since April 2022. However, trading volume on central exchanges decreased by 8.4% to $795 billion as of July 25, marking the fourth consecutive monthly decline.

Some crypto exchanges in Europe have delisted stablecoins ahead of new rules coming into force on June 30. Under the new rules, stablecoin issuers must be based in the European Union, notify relevant authorities and submit a white paper for approval. Large stablecoins may be subject to stricter regulations, such as a daily transaction limit and 60% of reserves being held as cash deposits at various banks.

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Brian Frye and Jonathan Mann filed a lawsuit with the U.S. Securities and Exchange Commission to clarify whether NFTs are securities. DraftKings has shut down its NFT business due to legal developments. In 2024, NFT sales volume reached its lowest level. Atari brings its classic games to blockchain. Ronin surpassed other networks in the number of daily active users. What do you think about these developments? We are waiting your comments.#NFT#Blockchain#Technology#Business

The U.S. Copyright Office has released the first part of a series of reports addressing legal and policy issues related to artificial intelligence and copyright law. This first episode, released on July 31, is about digital replicas, or “deepfakes” as they are commonly known.

According to the report's authors, "a new law is required" to deal with rapidly evolving digital fraud. The speed, precision and scale of digital replicas created by AI require urgent federal action. Individuals, as well as entertainment and political areas, may be harmed by this threat.

The Copyright Office is calling for a different, narrower law that goes beyond existing laws. The potential damage of deepfakes on finances, brand and personal reputation is highlighted.

Shira Perlmutter stated that distribution of unauthorized digital replicas poses a serious threat. He emphasized that the need for effective national protection against this threat is urgent.

The report suggests that new copyright law should apply beyond the commercial market to individuals. The law should focus solely on the distribution of unauthorized digital replicas, not the process of creation. However, liability may arise for replicas created in bad faith.

Although the report's findings are not legally binding, the Copyright Office advises various branches of the U.S. government. Congress and the winner of the 2024 US presidential election can evaluate the content of the report.

Subsequent reports will focus on issues such as copyright of works created using generative AI, training AI models with copyrighted works, and allocation of potential responsibilities.

Share your opinions in the comments!

Bybit has added the digital rupee, India's central bank digital currency (CBDC), to its payment options. This innovation aims to reduce the risk of users' bank accounts being targeted by cybercriminals. Bybit stated that e-rupee will be offered as a wallet-based payment solution and will join existing bank transfer, Paytm and Unified Payments Interface (UPI) of India options.

Bybit Sales and Marketing Director Joan Han emphasized that eRupi will elevate the payment experience for INR users and aims to attract a wider pool of merchants to the platform.

The use of the digital rupee is currently available for peer-to-peer crypto transactions on Bybit. However, the usage of retail e-rupee has not yet reached the expected level. RBI plans to add offline capabilities to e-rupee, which could increase its usage in regions with limited internet access.

Programmability of the digital rupee was added this year and used for carbon credit repayment for the first time. However, the use of wholesale e-rupee remained limited and was criticized as "troublesome to use".

Share your opinions and comments with us!

Bitcoin (BTC) suffered a strong rejection at the $70,000 level on July 29, indicating that the bears are fiercely defending the upper bounds of the $55,724 to $73,777 range. Analysts think that the bulls should turn the $69,000 level into a support level. If this happens, it is stated that BTC could surpass $72,000 and push the all-time high near $74,000.

Bitcoin needs a strong trigger to break out of its five-month trading range. Analysts believe that BTC will surpass $100,000 when this happens. However, some think that this level will only be seen in 2025.

The US's $35 trillion national debt is predicted to increase Bitcoin adoption. Turbofish CEO Matt Bell stated that increasing US debt will increase the importance of Bitcoin as "hard money".

Can Bitcoin rally from the current level or could the bears push the price lower? We are waiting your comments.

Arthur Hayes, crypto entrepreneur and investor, revealed the details and philosophy of the new "Airheads" Ordinals collection. Located on the Bitcoin network, this collection consists of 10,000 unique and balloon-like characters.

In his article published on his Medium page, Hayes stated that art consumption gives the true meaning of life. He emphasized that human culture such as dance, music and sports create trillions of dollars of value in economic activities.

Referring to the philosophical message of the Airheads Ordinals collection, Hayes said that these characters are a criticism of the inflationary policies of the elite class and central governments.

Airheads stands out as the first Ordinals collection to reward early investors using leaderboards. However, recent data shows a sharp decline in Ordinals trading volume.

What do you think about Ordinals? We are waiting your comments.

At Nvidia's SIGGRAPH 2024 event, CEO Jensen Huang announced new services aimed at bridging the gap between the digital and physical worlds. These services include early access versions of robotics development tools. NIM Microservices enables generative AI models to see and interpret 3D environments, while OSMO facilitates the management of training and simulation resources as a cloud-based orchestrator. Nvidia's market value increased by 11%, reaching $2.833 trillion. What do you think about these developments? Let's discuss in the comments.

Tether posted record profits of $5.2 billion in the first half of 2024 and has accumulated a large stockpile of US Treasury bonds. Tether's US Treasury portfolio is worth approximately $97.6 billion. This growth reflects the proliferation of Tether (USDT) stablecoins. The total market cap of USDT is approximately $114 billion. Tether's Treasury reserve exceeds the reserves of many governments such as Germany, the United Arab Emirates and Australia. Tether announced its net equity as $11.9 billion and issued $8.3 billion USDT in the second quarter. We are waiting your comments.

Bitcoin (BTC) experienced volatility at the Wall Street open on July 31. Daily highs were recorded at $66,814 on Bitstamp as markets prepare for US macroeconomic events and the monthly close. The Federal Open Market Committee (FOMC) is not expected to change interest rates until September, according to data from CME Group's FedWatch Tool. However, Fed Chairman Jerome Powell's statements are being watched carefully. QCP Capital stated that they expect increased volatility ahead of the FOMC. In Europe, Eurozone inflation increased to 2.6%. Share your opinions in the comments.

DraftKings immediately shut down its NFT business due to legal developments. This decision follows a class-action lawsuit claiming DraftKings' NFTs are unregistered securities. The company informed its users that it was shutting down Reignmakers and NFT Marketplace. Users will have the right to access and transfer their assets on Reignmakers. DraftKings launched the NFT market on the Ethereum Layer 2 Polygon network in 2021. What do you think about these developments? We are waiting your comments.#Blockchain#NFT #DraftKings

Ether is about to end July down 1%, despite the launch of spot Ether exchange-traded funds (ETFs) in the US.

On July 23, US spot Ether ETFs launched and the immediate market reaction was a 9% drop. Currently, Ether (ETH) price is down 4.05% since the launch of the ETFs. However, there may be other reasons hindering price performance.

ETHE sees faster outflows than GBTC

According to SoSoValue, total net inflows are currently negative $439.64 million. Grayscale's Ethereum Trust (ETHE) experienced faster outflows.

Lack of demand on ETH exchanges

Exchange withdrawals for Ether have decreased significantly since March. This metric is highly correlated with price and indicates “simply no demand.”

Coinbase Premium Index negative

Coinbase data points to a lack of demand. Coinbase Premium Index is declining continuously in the second quarter of 2024.

How do you evaluate these developments? We are waiting your comments.

Since Bitcoin's emergence on January 3, 2009, when Satoshi Nakamoto mined the genesis block, some wallet addresses have accumulated large amounts of Bitcoin. According to the Blockchain Council, 19.71 million BTC has been rewarded to miners and 90% of the total supply resides in just 1.86% wallet addresses. BTC Markets CEO Caroline Bowler stated that this concentration carries risks such as market manipulation and centralization. But he also added that these large owners offer strategic advantages and market influence. What do you think about this? Let's discuss in the comments.

Bitcoin and gold may experience a significant price outflow as macroeconomic conditions improve.

Raoul Pal, founder and CEO of Global Macro Investor, stated in an X post on July 29 that the "Macro Summer" has begun and will last until at least the end of 2024. Pal predicts that Bitcoin could break a massive cup and handle formation and reach a new top, which he calls the "Banana Zone."

Stating that Bitcoin must exceed the $70,000 level to confirm this exit, crypto trader Moataz Elsayed stated that if this level is exceeded, the bear market will end.

Share your opinions in the comments!

Ronin Network surpasses other blockchains in daily active users (DAU) in 2024. On July 29, Token Terminal reported that the Ronin network reached 2 million DAU, surpassing active blockchains such as Tron (TRX) and Solana (SOL). Tron had 1.8 million users and Solana had 1.2 million users.

Ronin's growth was supported by the increase in volume of NFT marketplace Mavis Market and the listing of the RON token on Binance. Additionally, Ronin Wallet reported 3 million downloads and 12 million RON holders.

The porting of the Pixels game to Ronin in February 2024 and plans for Ronin zkEVM strengthened the technological infrastructure of the network. What do you think about these developments? Let's discuss in the comments.

The launch of spot-based Ether exchange-traded funds (ETFs) marks one of the largest inflows into the asset since December 2022. According to a CoinShares report, new Ether (ETH) ETFs generated $2.2 billion in inflows and a 542% increase in ETH exchange-traded products (ETPs). However, net outflows of $285 million from Grayscale's $1.5 billion existing fund offset this increase.

Bitcoin (BTC) also attracted $3.6 billion in inflows in the last month, reaching a total of $19 billion since the beginning of the year. CoinShares analysts state that this increase is due to speculation around the US elections and BTC's potential as a strategic reserve.

The digital asset market continues to grow, with total assets under management reaching $99.1 billion. Total inflows for 2024 broke a record with 20.5 billion dollars. Trading volumes reached an all-time high in May with the launch of Ether ETFs.

Grayscale Ethereum Trust ETF (ETHE) experienced a $1.5 billion outflow. However, Grayscale's Ethereum Mini Trust ETH (ETH) performed well, recording net inflows of $44.9 million on July 26.

What do you think about these developments? Share your opinions in the comments.

NFT sales volume is about to reach its lowest level since November 2023. According to CryptoSlam data, the monthly volume of digital collectibles reached $393 million in July 2024. Daily volume is trending below $14 million, suggesting July could be the lowest or second-lowest month of this year.

NFTs have been in a downward trend since the second quarter of 2024. Sales volume, which was $4.1 billion in the first quarter, dropped to $2.24 billion in the second quarter. However, in July, transaction volume increased by 73% to 9.9 million transactions.

Web3 pros note NFTs are still a strong token standard. CryptoSlam founder Randy Wasinger stated that NFTs are here to stay and some use cases may have peaked. What do you think about the future of NFTs? Share your opinions in the comments.