Top stories

Binance / BUSD : Binance will stop supporting its stablecoin BUSD in 2024, as announced on the Binance app. Paxos will complete the acquisition of BUSD by February 2024. BUSD faced regulatory challenges, including a lawsuit from the SEC, and its services will be phased out. Paxos had previously halted issuing new Binance stablecoins due to regulatory concerns. (link)

Twitter, now X, has acquired the Rhode Island Currency Transmission License, enabling it to offer cryptocurrency services like storing and transferring digital assets in the state. This aligns with X's interest in payments and its recent crypto-related initiatives. (link)

Mastercard / Visa / Binance : Mastercard is ending its partnership with Binance for cryptocurrency cards in Latin America, affecting programs in Argentina, Brazil, and Colombia. The decision comes amid increased regulatory scrutiny on Binance. Visa also reportedly stopped issuing co-branded crypto cards with Binance in Europe in July. (link)

PayPal's stablecoin PYUSD is struggling to gain users, with 90% of its supply held in Paxos Trust's wallets. Only 7% is in exchange wallets and few "smart money" investors are interested. PYUSD's launch had high expectations, but adoption has been limited in its first weeks. The stablecoin is pegged to the USD and issued by Paxos Trust Co. (link)

GameFi

Big time MMORPG has launched Patch v0.27, featuring new quests, abilities, objectives, UI enhancements, and balance changes. The update demonstrates the developers' dedication to enriching gameplay and offers a promising path for both existing and new players. (link)

Sipher Odyssey : Ather Labs announces Closed Alpha for "Sipher Odyssey" after thorough development and playtesting. They highlight player feedback's importance and thank the community for supporting Breast Cancer Research. The game's development reflects a promising future. (link)

DeFi Kingdoms introduces "Void Hunt: Mad Boar," an exciting PvE feature where players form teams to track down the elusive creature. Participation requires CRYSTAL, Gold, and stamina, offering XP and special items as rewards. (link)

NFL Rivals : Mythical Games' NFL Rivals mobile game, with licensing from the NFL and NFL Players Association, gained over 2 million downloads and 15 million plays during its soft launch. Now fully launched, it aims to introduce mainstream gamers to blockchain gaming and digital ownership, allowing players to buy, sell, and trade in-game assets within the app (link)

PokerGO Play, an NFT-based social poker app, has launched on Gala Games in partnership with PokerGO. The game offers realistic poker gameplay, NFT-based ownership, and rewards through sweepstakes. Players can own NFT Frames and Avatars for cosmetic upgrades and gameplay advantages. Available for free on PC and mobile devices via Gala Games launcher. (link)

NFTs

The SEC fined Impact Theory $6 million for selling unregistered securities via NFTs, its first such action in the NFT space. This has raised questions about potential broader regulations on NFTs. The SEC's focus on a 10% creator royalty in the case suggests that mainstream NFT projects, especially those advocating for creator royalties, might face increased scrutiny in the future. (link)

Doodle / Crocs : NFT brand Doodles has partnered with Crocs to release limited-edition sneakers and digital collectibles. The collaboration merges Doodles' design with Crocs' clogs, offering a unique physical-digital experience. Buyers receive a NFT unlocking virtual sneakers and a Metaverse STOODIO beta pass. This collaboration highlights the convergence of fashion and digital ownership in the mainstream, showcasing the potential of Web3 innovation. (link)

OpenSea introduces new NFT standards (ERC-7496 and ERC-7498) and proposals (SIP-14 and SIP-15). These enable on-chain and off-chain redemption of NFTs for goods, services, and experiences, enhancing engagement and value for collectors and creators. (link)

Volaris, a Mexican ultra-low-cost airline, has entered the NFT market with a collection featuring 10 distinct NFT designs of different cities. These NFTs offer real travel perks, including a year of unlimited flights through a Volaris Annual Pass. The NFTs are on OpenSea, and the first 20 buyers receive exclusive experiences. Volaris's move showcases innovation and customer service in the aviation sector. (link)

NFT collectors are increasingly focusing on generative art and historically significant collections like CryptoPunks. Despite the broader NFT market facing challenges, with trading volumes down by 49% and many key collections seeing significant drops, these specific segments remain resilient. (link)

DeFi

Velodrome Finance, the largest DEX on OP Mainnet, has launched Aerodrome, a new DEX on Coinbase's Layer 2 Base network. With $194 million locked, Velodrome is OP Mainnet's top DeFi protocol. Aerodrome aims to replicate this success, offering incentives through Aero token airdrops to veVELO holders. (link)

Webacy has integrated with Arbitrum to enhance security for self custody wallets in DeFi. Users gain access to Webacy's "wallet watch" tool, offering real-time alerts for transactions and more. Webacy, a non-custodial security suite, aims to improve self custodial wallet security through risk assessment and a "panic button" smart contract feature. (link)

Injective / Side Protocol : Injective, a DeFi pioneer, has partnered with Side Protocol to enable atomic asset swaps across blockchain networks.This collaboration enhances cross-chain transactions, eliminates intermediaries, and strengthens the DeFi ecosystem's liquidity. It introduces a new standard for decentralized banking and offers users improved financial transaction opportunities. (link)

MakerDAO's $1.84 million investment in tokenized loans on Centrifuge is threatened by a borrower's potential default, raising concerns about MakerDAO's strategy. While not likely to destabilize DAI, the incident follows MakerDAO's recent pause in lending to another Centrifuge credit pool due to unpaid loans. (link)

DWF Labs : Cryptocurrency firm DWF Labs is proposing collaboration with Yearn.Finance to solve CRV token's liquidity issue. DWF Labs offers 12.5 million CRV to aid the community and seeks a 350 YFI loan from Yearn DAO's treasury for market making. The proposal will go through community discussion and a Snapshot vote.(link)

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