Board of Directors of Hong Kong-Listed Company Boyaa Interactive Approves a Budget of US$5 Million to Purchase Cryptocurrencies to Promote Business Layout in the Web3 Field
On August 11th, according to the Hong Kong Economic Times, Hong Kong-listed company Boyaa Interactive announced that its board of directors has approved a budget of $5 million (approximately HKD 39.098 million) to purchase cryptocurrencies, mainly including Bitcoin (BTC) and Ethereum (ETH), on regulated and licensed trading platforms within the next year to promote the company's future business layout in the Web3 field.
Crypto Whales Accumulate Largest Amount of Cardano (ADA) in Nearly a Year, Says Santiment Analytics Firm
According to Santiment, affluent crypto investors have been accumulating Cardano (ADA) in large amounts, with wallets holding between $10,000 to $100,000 worth of ADA accumulating the largest amount in almost a year.
Ethereum's Top Whale Addresses Continue Accumulating Despite Lack of Catalyst
Ethereum (ETH) has remained stagnant at around $1,850 for several weeks, following Bitcoin's trajectory since the beginning of 2023. Despite this, data shows that the top 10 Ethereum addresses have continued to accumulate the cryptocurrency, now holding 34.6% of the total supply. However, since the Merge event in September 2022, ETH has lacked a major catalyst for price growth.
Fluent, the Execution Layer of Ethereum zkWASM, Will Launch a Test Network, and Applications for the Builder Plan Have Been Opened
On August 10th, it was announced that the Ethereum zkWASM execution layer Fluent testnet is about to be launched. Applications for the early builder program have already been accepted. Fluent uses ZK Rollup technology to address performance and cost limitations, while reducing the learning curve for developers by using the Web Assembly (Wasm) virtual machine. It is also compatible with EVM and supports developers to build DApps using Rust, TypeScript, Solidity, and other languages.
Data: The Total Amount of Lido Ethereum Pledged Exceeded 8 Million
On August 10th, the total amount of Ethereum staked on Lido has surpassed 8 million, reaching 8,022,346 ETH or approximately 14.855 billion USD at the time of writing. The Ethereum staking rewards paid out have reached 383,914 ETH or approximately 710 million USD, with the current Ethereum staking APR at 3.8%. Additionally, the total value of staked tokens on the Lido platform is approximately 15 billion USD.
Coinbase's Base Network Launches Publicly with NFT Giveaway
Coinbase is set to launch its Base Network, a new Ethereum-compatible side chain that will utilize Optimism Rollups for faster transaction processing. While this may result in slightly slower transaction speeds, it will also provide a more secure process as transactions must be validated on chain. The launch of Base Network comes as a solution to Ethereum's congestion during high transaction volume periods.
PayPal Launches Ethereum-Based Stablecoin PYUSD, Sparking Debate and Expectations
PayPal's launch of the Ethereum-based stablecoin PYUSD has generated mixed reactions within the crypto community. While it presents an opportunity for Ethereum to gain mainstream adoption, concerns have been raised about potential threats to decentralization and personal asset control. The stablecoin, issued by Paxos Trust Co., aims to facilitate digital payments and Web3 applications. Some view this development as a positive step towards Ethereum becoming the monetary layer of the internet.
PayPal Launches PYUSD Stablecoin on Ethereum, Raises Concerns About Centralization and Control
Paypal has introduced a new stablecoin named PYUSD, which is based on Ethereum. The crypto community has mixed reactions to this announcement, with some viewing it as a positive step towards Ethereum's mainstream adoption, while others are concerned about its potential impact on decentralization and personal control of assets. PYUSD is designed for digital payments and Web3, and will soon be available to US customers. However, some smart contract auditors have raised concerns about the centralization attack vector in the smart contract, and others have compared it to a censorship-enabled central bank digital currency.
SEC Lists 48 Cryptocurrencies as Securities, Excluding Bitcoin and Ethereum
The SEC has reportedly shared a list of 48 cryptocurrencies that it considers to be securities, according to a tweet by Chinese journalist Colin Wu. Notably, Bitcoin and Ethereum are not on this list. The SEC has been cracking down on cryptocurrencies, claiming that most digital tokens are unregistered securities. Ripple Labs and its XRP token were the first target of the SEC's securities agency, with the company accused of selling XRP as unregistered securities to investors.
Approximately $73.5M Worth of Cryptocurrencies Stolen in Curve Reentrancy Attack, Partially Recovered
According to reports, approximately $73.5 million worth of cryptocurrencies on Ethereum were stolen in the Curve Reentrancy exploit. As of now, 73% of the stolen funds ($52.3 million) have been returned.The remaining $19.7 million worth of cryptocurrencies on Ethereum have not yet been returned by the initial exploiter of the Curve CRV-ETH vulnerability (0xb752...b324).
