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Two NATO allies - Turkey and Hungary - have been left out of the guest list for the US-led Democracy Summit. Despite being important NATO allies, both countries were excluded from the event. Join the conversation and share your thoughts on this exclusion of allies from the guest list. "

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Virtual real estate is seeing a crash of its own as prices of land in various metaverses, as well as sales volumes, have plunged to the lowest levels in months - amid a broader crypto downturn that has seen around USD 2trn wiped from the crypto market capitalization.
According to a dashboard tracking metaverse sales by Dune Analytics, an open-source data provider, almost all projects have seen a significant drop in the sales volumes and average prices of their virtual land.
Decentraland, The Sandbox, and NFT Worlds, three of the largest projects, marked their worst performance so far this year in July.
The average price of virtual land in Decentraland dropped to its lowest level in the past 24 months, plunging to around USD 4,006 in the past month. In comparison, the average price of land here was around USD 17,736 in July 2020.

Ethereum (ETH) miners fearing the worst should the network’s much-vaunted move to proof-of-stake (PoS) go ahead next month could be thrown a lifeline – with Justin Sun and his Poloniex crypto trading platform stating that they will provide support for a proposed proof-of-work fork (PoW) fork.
The Ethereum network currently uses a PoW protocol that allows miners to mint new tokens, but while moving to PoS might help ETH’s cause in some respects, it would leave miners on the network in a dark place. Their rigs would become effectively worthless in the blink of an eye – unless they could be repurposed to mine on other networks.
One solution to this problem has been put forward by the Chinese miner Chandler Guo, who has said he will fork the Ethereum network to create a PoW “version” of ETH.
Indeed, Guo has been bullish on the matter in recent weeks, and has suggested that he wants to create a genuine rival to a PoS version of Ethereum.

The team behind open-source blockchain Solana (SOL) is readying to open its physical store in New York City, USA, to the public, in a bid to promote the Solana blockchain and Web3 at large.
The store, dubbed Solana Spaces, is located at a mall in Hudson Yards and was launched in collaboration with the Solana Foundation, a non-profit organization dedicated to the growth of the Solana network.
The shop doesn't seem to be opened yet. Per various reports, the store has so far been open to ‘preview visitors’ only, and per Solana Spaces, 30 previews have been given on Wednesday. Meanwhile, according to Fortune, the shop is set to open today. 

Japanese cryptoasset-related firms have urged the government to make tax reforms – claiming that the current system is out of sync with tax rules in other countries.

The proposals come from the Japan Cryptoasset Business Association (JCBA) and the Japan Virtual Currency Exchange Association (JVCEA), which, per CoinPost, released a joint report calling for tax reform in 2023.

The bodies also addressed the press and spelled out their aims, which chiefly centered on the need to simplify the crypto tax filing process. It also pointed out “inconsistencies” within the existing system. And, as well as noting that Japan’s policy is out of step with “overseas cryptoasset tax systems,” the bodies insisted that crypto has a key role to play in the world of Web3.

The latter point may well catch the eye of senior lawmakers in the ruling Liberal Democratic Party (LDP), which has launched a Web3 taskforce. The taskforce, too, has spoken of the need to reconsider Japan’s crypto tax rules – amid claims that overly restrictive protocols are forcing companies, talent, and capital abroad. Opposition leaders have also become vocal in their own calls for change.

Police in Hong Kong have begun publishing details of crypto fraud cases – in the hope that the public will take valuable lessons from cases that have seen people lose thousands of dollars to crypto villains.
Per Takungpao, the move is part of the Eastern District police force’s “Operation Shield” program – a drive aimed at “raising awareness of fraud and fraud prevention.” Officers stated that fraud cases are on the rise in Hong Kong, with crypto scams a particularly fast-growing trend.
The police stated that, on average, fraudsters claim a cumulative USD 2.5m per day from Hong Kong-based victims.

Why Ethereum NFT Creators Are Giving Away Commercial Rights To Everyone? Read👇🏻

Moonbirds is one of 2022’s most successful NFT projects, yielding more than half-a-billion dollars’ worth of trading volume in a matter of months. Buying one will cost you at least $29,000 worth of ETH as of this writing. But its creators have now decided that you won’t have to own a Moonbird to use its imagery. Proof the Web3 startup behind the Proof Collective NFT group and Moonbirds announced that it will transition Moonbirds and the recent Oddities NFT collections to a CC0, or Creative Commons Zero, license.

Paraguay's Senate approved a bill regulating crypto mining and trading on Thursday.
In December, the country’s Senate had already approved the bill, but in May the Chamber of Deputies passed it with modifications. Therefore, it returned to the upper chamber.
Now approved by both chambers, the law must be submitted to the executive branch, which has the power to approve or veto it.

More than $20 million has been recovered since the “free-for-all” hack, the seventh major breach involving a crypto bridge this year. Crypto start-up Nomad is offering 10 percent bounties to retrieve as much as $190 million in digital currency that was seized in a massive hacking attack this week.

Hours after an unexpected twist, where Binance CEO Changpeng Zhao or ‘CZ’ denied owning any equity in Indian cryptocurrency trading platform WazirX and even the completion of its 2019 acquisition, a series of tweets were exchanged between him and the crypto bourse founder Nischal Shetty on August 6.
WazirX is the largest cryptocurrency exchange in India, handling over 50 percent of the country’s crypto trading volumes, while Binance is one of the largest exchanges in the world.

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Authorities in India searched WazirX’s director in connection to a money laundering scheme. They seized assets worth 64.5 crore (over 8M USD).

WazirX is India’s largest exchange, acquired by Binance in 2019.

London-based crypto firm Blockchain.com said on Thursday it had registered as a virtual asset service provider in Italy, the latest in a string of digital asset firms to do so.
Italy created a special registry with its brokerage regulator in February to list crypto operators with a stable presence in the country, provided they meet certain requirements.
Blockchain.com said in a statement it could now offer crypto and digital wallet services to Italian residents and institutional investors under the regulator, known as the OAM.

Cryptocurrencies prices today were mixed with Bitcoin trading below the $23,000 mark. The world's largest and most popular cryptocurrency Bitcoin was trading nearly a per cent lower at $22,971. The global crypto market cap today was above the $1 trillion mark, as it was almost flat in the last 24 hours at $1.12 trillion, as per CoinGecko.

Crypto analytics firm Santiment is revealing one factor that is likely to foreshadow the start of a bullish phase for Ethereum (ETH).
Santiment says that the volume of Ethereum on exchanges has risen and a decline of the same would signal the start of a bullish cycle.
“Ethereum has seen its supply held by top exchange addresses rise, which makes sense with traders dumping their holdings onto large exchanges during the 2022 slide. Watch for a decline in top ETH exchange address holdings as a bullish signal.”
According to Santiment, the amount of Ethereum held on the leading ten crypto exchanges is now over seven million, a figure last reached in May of 2021.
Santiment says that the ratio of Ethereum held outside of crypto exchanges relative to the Ethereum held by exchanges has reached a one-year low.
The crypto analytics further says that the reason that the transaction fees of the second-largest digital asset by market cap have remained low is due to the limited number of Ethereum in circulation.
“Ethereum’s transaction fees have remained ultra-low despite the price jump since mid-June. Scarcer circulation has played a big role in the lower costs, and fees can be expected to remain reasonable until a fair degree of fear of missing out kicks in from the crowd.”
According to Santiment, Ethereum transactions are costing less than $1 on average.

A lack of immediate retaliation from China emboldens U.S. stocks as new research concludes that the market is becoming increasingly "risk-on."

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Hackers targeted the Solana ecosystem early Wednesday with thousands of wallets affected in the latest hit to the cryptocurrency market after bridge protocol Nomad was attacked at the start of the week.
Estimates of the damage vary. Just over $5.2 million in cryptoassets have been stolen so far from more than 7,900 Solana wallets, according to blockchain forensics firm Elliptic. Security company PeckShield said four Solana wallet addresses drained approximately $8 million from victims.

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It’s safe to say that Coinbase has had a rough couple of months. The threat of federal regulation of some of its tokens has been looming for more than a year, but it’s really started heating up over the last few months. In late July, things got even worse. A former Coinbase product manager, his brother, and a friend were arrested by federal prosecutors on an insider-trading allegation. And the cherry on top? The fact that the Securities and Exchange Commission alleges Coinbase has been running an illegal securities exchange. To help us understand what’s at stake for Coinbase, and for all digita-currency users, Bloomberg Businessweek Columnist & tech reporter Max Chafkin joins this episode

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Cross-chain token bridge Nomad was exploited yesterday, and hackers drained the protocol of nearly all of its funds. The total cryptocurrency loss came to just about $200 million.

Nomad enables users to send and receive tokens between different blockchains, and the attack comes just days after the company revealed the various crypto titans that participated in its April 2022 seed round. Investors include OpenSea, Gnosis, the Polygon blockchain, Crypto.com, and other Web3 heavyweights.

An investigation is ongoing and law enforcement has been notified. In a statement to CoinDesk, the Nomad team said they are "working around the clock to address the situation and provide timely updates" and that they hope to "identify the accounts involved and to trace and recover the funds."

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Shiba Inu has become one of the most popular cryptocurrencies owned by Ethereum whales.

The United States Securities and Exchange Commission (SEC) has charged 11 individuals for creating and promoting a fraudulent crypto pyramid scheme and Ponzi scheme. The authority published a press release on August 1, saying that the $300 million crypto pyramid scheme involved perpetrators from several countries.

The complaint was filed in the United States District Court in the Northern District of Illinois.

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Cryptocurrency Shiba Inu posted a three-second video on Twitter that showed an orange-coloured Visa card with SB initials, with the slogan “Make Payments, Burn SHIB.”

BarcelonaThe ‘In a Way, Immortal’ non-fungible token, the first NFT in the club’s history and commemorating Johan Cruyff, sold for $693,000 at an auction held at Sotheby’s in New York on Friday. The audiovisual digital art NFT aesthetically recreates the goal scored by Cruyff, who later became the club’s coach. Atlético Madrid 1973.

In addition to ownership of the NFT, the winner of the auction will be named a digital ambassador for the Catalan club and will be entitled to other benefits including access to training sessions.

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Apecoin DAO community members have approved a governance proposal that will fund a Bored Ape Yacht Club (BAYC)-centric news publication called the Bored Ape Gazette with $150,000 for the first year. While the Bored Ape Gazette has been in operation since June 1, 2021, the site’s operator promises to “keep the community better informed” with plans to “ramp up” Bored Ape news coverage.



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