Launched on March 31st, 2022, Druid Ventures is one of the only dedicated digital asset funds in the Southeast USA and is on track to complete 25 – 30 investments (including follow-on rounds) by next year. TAMPA BAY, Fla.–(BUSINESS WIRE)–Druid Ventures, a ~$13 million early-stage venture fund that is actively investing in digital asset infrastructure and interoperability, continues their mission of backing bold founders in a difficult market. The fund is sponsored by SCP&CO, a private investment and fund management firm focused on emerging technology platforms. Druid believes blockchain-based infrastructure will serve as the foundational consensus and settlement layer of a distributed and equitable Internet. “Blockchains inherently provide a single source of verifiable truth for all assets that are hosted and transferred across the web without requiring a centralized system or entity. Simply put, blockchain technologies can notarize digital asset authenticity in an increasingly synthetic world,” said Chris Pizzo, founding partner of Druid Ventures. “While there may be more chop in the market, we are confident that the worst has been priced in and that this will be looked back on as an exceptional time to be planting seeds in this space.” The firm has executed 14 investments in 13 US and internationally based companies (38% with female founders or co-founders), leading six of these investment rounds. These companies span across offensive agent-based cybersecurity tools, security collaboration ecosystem, on-chain identity access management, cross-chain dApp development platforms and inter-blockchain communication protocols. The fund is targeting 20-25 portfolio companies in total by late 2024. The firm has built an international network of over 200 venture capital co-investors, top global academic institutions and their associated blockchain clubs, and leading technology accelerators and incubators which span across North America, Europe, South America, Asia and Australia. “The value shift towards builders and creators is happening quickly, but they need sound infrastructure, scalable architecture and strong interoperability in products and protocols. Druid intends to be one of the first partners at the table supporting fundamentally strong companies who fit this profile, driving the creation of better products, and accelerating the accessibility needed for broad adoption of decentralized applications,” said Kyle Schroeder, founding partner of Druid Ventures. Druid Works for Their Founders Druid seeks to be one of the first institutional partners – managerially and monetarily. The firm delivers strong post-funding support across strategy, business development, talent recruitment and retention, and most importantly as a sounding board for all matters – professionally and personally. Portfolio founders’ success equals Druid’s success. Through this methodology, Druid’s sourcing, selecting and supporting flywheel has strengthened tremendously. The fund is led by founding partners Chris Pizzo and Kyle Schroeder, who have extensive experience in early-stage company building, founder coaching, investing, trading and M&A. Druid also leverages significant input from the investment committee, which includes Joey Rosati, Chris Jenkins, Bryan Crino and Scott Feuer; as well as considerable contributions to new investment opportunities and underwriting support from our partner Charlie Shrem and our portfolio founders. ABOUT DRUID VENTURES Founded in 2022, Druid Ventures is a ~$13M early-stage venture capital fund focused on pre-seed and seed investments in the digital asset infrastructure and interoperability sector. The firm takes a hands-on approach when needed: working closely with portfolio companies to determine their “north star,” helping reverse engineer their milestones and doing everything it takes to help them accomplish their goals. This support is accelerated through Druid’s diverse community of seasoned investors, accomplished operators, former founders and category-specific specialists ranging from cryptography to tax. For more information, including a list of portfolio companies, visit Druid Ventures. ABOUT SCP&CO SCP&CO is a private investment and fund management firm focused on emerging technology platforms, innovation and value investments. The firm leverages direct investing and managed funds to invest in businesses where it can provide strategic and operational impact to accelerate profitable growth. Depending on the investment vehicle, the firm invests in control positions, growth capital or venture capital to help startups and existing businesses build growing, profitable and enduring businesses. Learn more at www.scpandco.com. Contacts Michael Sias Firm 19 [email protected]

CALGARY, Alberta–(BUSINESS WIRE)–Tetra Trust Company (Tetra), a Canadian leader in digital asset custody, proudly announces its strategic partnership with Figment, the leading staking infrastructure provider. This collaboration marks a significant milestone in democratizing staking services for institutional clients while solidifying Tetra’s position as the premier choice for digital asset custody in Canada. Since its establishment in 2019, Tetra has made significant strides as Canada’s only trust company licensed to custody digital assets. Boasting an exceptional team of regulatory and business experts, as well as a Board of Directors with extensive trust company experience, Tetra continues to set the standard for digital asset custody in Canada. With the expansion of its product suite to include staking services, Tetra reaffirms its commitment to growth, charting a successful path forward in the dynamic digital asset landscape. Figment, renowned for its pioneering and industry leading staking infrastructure, serves over 250 institutional clients, including asset managers, exchanges, wallets, foundations, custodians, and large token holders. Through this strategic partnership, Tetra gains access to Figment’s comprehensive staking services, unlocking unparalleled opportunities for institutional clients to earn rewards on their digital assets. “We are thrilled to partner with Figment, a proven leader in staking infrastructure, to bring our clients an outstanding staking solution,” says Didier Lavallée, CEO at Tetra. “This partnership strengthens Tetra’s position as the preferred choice for digital asset custody in Canada, proving our dedication to excellence and innovation in our field of expertise.” Ben Spiegelman, Head of Corporate Development at Figment, stated, “The collaboration with Tetra further demonstrates our commitment to the digital asset ecosystem in Canada. By combining Tetra’s renowned custody offering with Figment’s leading blockchain infrastructure solution, we plan to transform staking services in Canada by delivering unmatched value to institutional clients.” The Tetra-Figment partnership opens up a world of opportunities for institutional clients seeking to actively participate in blockchain networks and earn rewards on their digital asset holdings. The partnership places a strong emphasis on broadening access to staking services by providing secure and efficient methods for institutional clients to maximize rewards on their crypto assets. Notably, Tetra’s keys are securely located in Canada, and Figment’s validators operate within the country, ensuring a strong foundation of trust and compliance within the Canadian regulatory framework. This joint commitment represents a transformative step in the digital asset landscape, further fueling the growth of the ecosystem in Canada and beyond. To learn more about Tetra’s staking solutions, contact [email protected]. About Tetra Trust Company: Founded in 2019, Tetra Trust Company is the leading trust company licensed to custody digital assets in Canada. Backed by industry giants such as WonderFi, Coinbase Ventures, Canadian Securities Exchange and others, Tetra delivers the most advanced digital asset storage technology, setting the standard for digital asset custody in the country. About Figment: Figment is the leading staking infrastructure provider, with over USD $3 billion in total assets staked. We provide the complete staking solution for over 250 institutional clients, including asset managers, exchanges, wallets, foundations, custodians, and large token holders, to earn rewards on their digital assets. On Ethereum, we are the largest non-custodial staking provider, with nearly 5% of staked ETH on Figment validators. Figment’s institutional staking service offers seamless point-and-click staking dashboard, portfolio reward tracking, API integrations, audited infrastructure, and slashing protection. This all leads to our mission to support the adoption, growth, and long-term success of the digital asset ecosystem. To learn more about Figment, please visit our website at figment.io. Contacts Tetra Trust Company: [email protected] www.tetratrust.com Figment: [email protected] figment.io

Bankrupt crypto exchange FTX has submitted a proposal that may result in the relaunch of its international arm FTX.com. On August 1, the company’s bankruptcy administrators confirmed rumors of a relaunch by filing a draft plan of reorganization in which it proposes the kick-off of a “rebooted” offshore exchange exclusive to non-US users only. FTT Gains By 17% Amidst Plans To Terminate Claims FTT, the native token of the FTX exchange, recorded a significant boost in its price on the emergence of the exchange’s proposal to relaunch in the international market. Related Reading: FTT Flies 45% On Rumors Of FTX Planned Relaunch According to data by CoinMarketCap, FTT rose by 17% on Tuesday, moving from $1.34 to $1.59. Thereafter, the token experienced a decline, falling as low as $1.42, but has been climbing back up since then. Interestingly, FTT’s gain today has occurred despite the exchange’s plans in relation to its native token. According to the draft plan of reorganization, FTX stated intentions to cancel all FTT claims as a result of their “equity-like characteristics.” The statement read: At the time of writing, FTT is trading at $1.45, having gone up by 7.39% in the last day. Meanwhile, the token’s daily trading volume is up by 378.65% and is now valued at $43.8 million. FTX.com To Relaunch As Exchange Plans Settlement For Foreign Customers Based on its proposed blueprints for reorganization, FTX intends to sort claimants into several pools. Firstly, customers of the FTX.com exchange will be termed as Dotcom customers, while customers of the FTX US are drawn into the US Customer Pool. In regards to the settlement of Dotcom creditors, FTX proposes that debtors may partner with third-party investors to set up a new exchange that will operate as an offshore platform. Alternatively, this exchange can also be formed as a merger or “similar transaction.” Related Reading: Ethereum DeFi Coins Plunge As Curve Concerns Threaten Major Market Crash Thereafter, the debtors may then choose to grant the Dotcom customer pool some share of the company instead of conducting a full cash settlement. A statement from the draft read: Talks concerning an FTX.com relaunch began as early as January, with the company CEO, John J. Ray III, stating he had authorized a team to explore that possibility. In June, WSJ reported that the company had begun discussions with potential investors in a bid to actualize the goal.

Earnings in cash, kind, or via stakes are all included in the definition of “gross income.” Internal Revenue Service Revenue Ruling 2023-14 was released on July 31. According to a recent ruling from the United States’ highest tax body, cryptocurrency holders are required to include staking rewards in their gross income for the year they were earned. Internal Revenue Service Revenue Ruling 2023-14 was released on July 31. It clarified the tax treatment of profits from staking digital assets. Earnings in cash, kind, or via stakes are all included in the definition of “gross income.” This judgment applies to cash-method taxpayers who stake crypto either directly or via a centralized cryptocurrency exchange. In return for transaction validation fees on proof-of-stake blockchains. The decision indicated that the fair market value of the cryptocurrency incentives should be included in yearly income. And calculated upon receipt of the assets. Crackdown Continues According to the agency, this law also applies to investors who stake tokens on a cryptocurrency exchange if “the taxpayer receives additional units of cryptocurrency as rewards as a result of the validation.” Having “dominion” over one’s cryptocurrency rewards means having the freedom to sell, trade, or otherwise dispose of them as one sees fit. According to crypto tax startup Koinly, the IRS has historically taxed cryptocurrency mining rewards as income and capital gains. But has not previously made allowances for staking incentives. Moreover, coincident with the release of the IRS tax notice is a crackdown on crypto-staking service providers and exchanges by U.S. federal agencies. This also includes the SEC, which claims that these businesses are engaging in unlawful sales of securities. Highlighted Crypto News Today: FTT Pumps 15% Amidst FTX Revival Plan

Polygon (MATIC) has risen as the overall crypto market capitalization sits at $1.21T, up 0.29% overnight. In the same vein, Tradecurve (TCRV) has also shown promising growth in recent times, capturing the attention of investors and traders. Keep reading as we go into both projects in further detail. >>Register For The Tradecurve Presale<< What Is Polygon (MATIC)? Due to its scalability, Polygon (MATIC), a layer-2 scaling solution for Ethereum, has attracted a lot of market interest. The project has witnessed a remarkable, bullish momentum, with its price surging recently. Over the last seven days, the Polygon price has surged by 15%. Recently, Polygon proposed upgrading the MATIC token to a multipurpose one named POL. Consequently, interest in the Polygon crypto soared, causing a price rally. Currently, one MATIC token costs $0.7784 with a market cap of $7.2B. Likewise, the Polygon technical indicators are showing buy signals. Experts have taken notice of these charts. Hence, they predict a rise to $1.02 for MATIC by the end of 2023. Tradecurve (TCRV): The Rising Star in the Trading Space Over 17,000 users have registered for Tradecurve – an upcoming trading platform that could fundamentally alter the trading space. As a result, the platform’s native token, TCRV, has soared by 150% in the past month alone. Also so far the team has raised over $4M of the 20M goal, hoping to become a top 3 global exchange following its launch. Expected To Rival Coinbase To achieve this goal, the Tradecurve team has implemented plenty of features that set this borderless trading platform apart. Firstly, while Coinbase focuses on cryptocurrencies only – Tradecurve allows users to trade all derivatives on a single account. Thus, traders can enter multiple financial markets without any hassle. Secondly, Tradecurve has incorporated features for both novice and experienced traders. Users will be privy to high leverage starting at 500:1 and copy trading. Moreover, due to its hybrid infrastructure model, Tradecurve implements the best features of CEX and DEX on one platform: low latency, slippage-free trading, and fast order execution. And most importantly, Tradecurve places a focus on privacy and transparency. It accomplishes this by eliminating sign-up KYC checks and implementing a Proof of Reserves. Therefore, users can trade in complete anonymity while not worrying about asset mismanagement. As Coinbase lacks in both these areas, Tradecurve could reign supreme. TCRV Shows Excellent Long-Term Growth Potential Unlike Polygon, the TCRV token now costs just $0.025 as it is in Stage 5 of its presale. Those who purchased it early enjoyed a 150% pump as TCRV soared from its starting price of $0.01. Furthermore, Stage 6 will begin sometime next week. As a result, a 20% surge will happen. With plans of listing on Uniswap or a Tier-1 CEX following its launch, the future of TCRV looks bright. Therefore, market analysts remain bullish as they predict a 50x growth before its presale ends and a 100x jump after. If you want governance voting rights, staking rewards, and exclusive trading account rewards, purchase the TCRV token now. For more information about the tradecurve presale: Click Here For the Website Click Here To Buy TCRV Presale Tokens Follow Us Twitter Join Our Community on Telegram

Giga-tronics Advances Dividend Process with Filing of Registration Statement LAS VEGAS–(BUSINESS WIRE)–$AGREE #AGREE—Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”) announced today that its majority owned subsidiary, Giga-tronics Incorporated (OTCQB: GIGA) (“GIGA”) has filed an amended registration statement on Form S-1/A with the U.S. Securities and Exchange Commission (“SEC”) related to Ault Alliance’s previously announced dividend of almost seven million shares of GIGA common stock to its stockholders, which S-1/A also includes a selling stockholders prospectus. The Company invites those interested in learning more to read the registration statement at the following link: https://www.sec.gov/ix?doc=/Archives/edgar/data/0000719274/000121465923010514/gt725231s1a1.htm Upon receiving notice of effectiveness of GIGA’s registration statement and obtaining final regulatory approvals, the Company will announce the record date and payment date of the planned dividend. Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “The team at GIGA has successfully filed a registration statement on Form S-1/A with the SEC, a pivotal step in advancing with the previously declared spin-off of GIGA’s securities. We recognize our stockholders have been patiently awaiting this special stock dividend, and it is a pleasure to communicate the headway we have made. The Company remains committed to expedite the special dividend distribution as soon as possible following the confirmation of the registration statement’s effectiveness.” For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.ault.com or available at www.sec.gov. About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and colocation and offers hosting services for the emerging artificial intelligence ecosystems and other industries, and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.ault.com. Contacts [email protected] or 1-888-753-2235

The Ethereum DeFi space is currently experiencing a rough few hours. All major DeFi coins are posting deep red numbers in the last 24 hours: Compound (-18%), Aave (-10%), Curve (-10%), Frax (-6%), and Synthetix (-6%). The reason? Curve Finance, a flagship decentralized exchange specializing in stablecoin swaps, recently suffered a significant exploit. The resulting aftershocks are being felt across the DeFi ecosystem, inciting fears of a broader Ethereum DeFi massacre. The exploit, causing a damage of around $100 million, sets off potential domino effects threatening the stability of the wider DeFi landscape. Curve Hack Sparks Fears Of Ethereum DeFi Crash Delving into the details of the exploit reveals the intricate dynamics at play. The attackers took advantage of vulnerabilities in the Vyper smart contract software, leading to the significant losses on Curve Finance. The repercussions of this incident have been profound. The popular stablecoin DEX Curve Finance could be a ticking time bomb for the rest of the Ethereum DeFi sector. Post-incident, it is reported that over $45 million has been drained from liquidity pools of third-party providers, with an additional $25 million directly siphoned from the Curve Protocol’s CRV/ETH pool. The ensuing liquidity crisis and the impending risk of further sell-offs, given the millions of Curve (CRV) tokens still held by the attackers, is generating substantial anxiety within the market. The founder of Curve Finance, Michael Egorov, has not been immune to these significant losses. His large positions backed by CRV have come under intense pressure, pushing the platform to the brink. Delphi Digital explains, “Curve founder, Michael Egorov, currently has a ~$100 million loan backed by 427.5 million CRV (about 47% of the entire CRV circulating supply). With CRV down 10% over the past 24 hours, the health of Curve is in jeopardy.” Furthermore, Egorov holds large loans on Aave and Frax Finance, backed by CRV collateral. On Aave, he has a $305 million CRV backed loan amounting to 63.2 million USDT. At a liquidation threshold of 55%, his position could be liquidated if CRV/USDT hits $0.3767. As per Delphi Digital’s assessment, this would require a ~33% drop in the CRV price. Egorov also carries a ~4% APY for this loan. The situation on Frax Finance is even more precarious. Here, Egorov has supplied 59 million CRV against 15.8 million FRAX of debt. The high utilization and the Time-Weighted Variable Interest Rate, doubling every 12 hours, makes his position particularly vulnerable to astronomical interest rates and subsequent liquidation, irrespective of the CRV price. Delphi Digital emphasizes, “This astronomical interest rate could lead to his eventual liquidation, regardless of CRV price. At a max LTV of 75%, his position’s liquidation price could reach 0.517 CRV/FRAX within 4.5 days, less than a 10% decrease from current prices.” Today, Egorov deployed a new Curve pool and gauge: a 2 pool consisting of crvUSD & Fraxlend’s CRV/FRAX LP token, seeded with 100,000 of CRV rewards. However, with no success. Utilization was quickly back to 100% as illiquid CRV holders took Frax stables to exit, and Frax lenders bailed on risky pool. Thus, Egorov’s new pool is just spending more of his CRV and not bringing his interest rate down. As the market grapples with the mounting liquidation risk of Egorov’s positions, the potential market-wide repercussions are alarming. Autism Capital warns, “If Michael gets liquidated by Fraxlend, all of his other debt positions will be liquidated too. This likely means Inverse Finance (INV) and Magic Internet Money (MIM) will both die due to the new bad debt, and Aave will get stuck with $63 million of bad debt.” Moreover, a liquidation of Egorov will likely trigger cascades on-chain and nuke CRV to almost zero. Not All Hope Is Lost However, despite the ensuing chaos, the DeFi sector’s operations, strictly governed by code and math, remain unaffected. As Autism Capital rightly puts it, “In one sense, this is proof that DeFi works as intended. There are no special rules or bailouts, no matter who you are. It’s a brutal free market governed by math and code.” Moreover, there’s still hope for a happy-end. Assuming liquidity recovers, the DeFi sector might regain balance. The Curve team has indicated that several millions in US dollars are in possession of white-hat hackers. This could potentially enable the recovery of some of the misappropriated assets. Additionally, some bots intercepted a significant quantity of CRV tokens from the Curve attackers. Nevertheless, the threat of the situation spreading remains a serious concern. Platforms like Frax, Aave and others remain on high alert, while some, like Alchemix, have already halted their smart contracts. [UPDATE] It looks like Egorov got an OTC deal with a CEX, paying off his debt. This is the reason for CRV’s price rebound. [UPDATE #2] According to Lookonchain, Curve founder Michael Egorov sold 5 million CRV to Justin Sun via OTC transactions at a price of $0.4. In addition to Sun, there are 7 addresses that conducted OTC transactions with Michael Egorov for $0.4. 0xSifu, the former CFO of Frog Nation, said that he was also contacted for OTC trading and had a 6-month lock-up period. At press time, the Curve (CRV) price saw a slight recovery within the last three hours, rising to $0.57.

What is Dogecoin? Dogecoin is an alternative coin — more commonly known as an Altcoin — that was established by co-founders Jackson Palmer and Billy Markus in 2013. It was initially created as a joke — based on the well-known “Doge” meme. Each coin has its own blockchain infrastructure and operating system. Dogecoin runs on the same blockchain infrastructure and uses similar proof-of-work operating systems — a mathematical security system used to verify transactions and approve task execution — as Litecoin and Ethereum, with small modifications. How is Dogecoin different from Bitcoin? Bitcoin and dogecoin are extremely different cryptocurrencies. Bitcoin is a widely-used, reputable coin that acts as legal tender in many countries across the world, as well as in transnational markets and industries. Dogecoin lacks the legitimacy and global infrastructure to reach the heights of Bitcoin. They also differ drastically in market share. With Bitcoin, there’s a finite number of coins available, creating a limited supply. Dogecoin has an endless supply of tokens, meaning supply can never outpace demand, leaving it in a permanently deflationary state. Both Dogecoin and Bitcoin also run on different blockchain networks — and different advancements in blockchain technologies are one of the determining factors of market fluctuations. Bitcoin runs on its own blockchain network, whereas Dogecoin piggybacks off the Ethereum blockchain, but with its own slight changes to transaction tracking and payment recording. Is Dogecoin better than Bitcoin? Deciding which cryptocurrency is better will ultimately come down to what a user is looking for from their coin. If users are looking for transaction speeds and lower fees, Dogecoin is superior due to the Ethereum-based blockchain, being designed specifically for rapid, seamless transactions. However, if it’s accessibility, usability and value that users are looking for, Bitcoin outperforms Dogecoin because it’s more widely-used and available — meaning users have more options when it comes to making and receiving payments. From an investment standpoint, Bitcoin stands head and shoulders above Dogecoin. While Dogecoin is struggling to reach 1 cent in value, Bitcoin fluctuates on average between 27-30 thousand dollars per coin. While Bitcoin’s value is based on quantifiable aspects — like its widespread usage, user popularity and limited circulation — Dogecoin doesn’t have too much room for growth given its endless supply and low user uptake. Dogecoin vs Bitcoin price The difference between the current and historical price fluctuations of the two coins couldn’t be more different. At the height of its reign, Dogecoin peaked at 74 cents, having opened on the market at 0.017 cents per coin — meaning its value went up by over 9000% during the cryptocurrency boom. In that same period, Bitcoin had a meteoric rise — peaking at over $61k and opening at $327 — growing at a percentage rate of over nine million percent from opening. Both coins have historically reached dizzying heights — allowing those traders who were hot on the trends to see staggering profits. However, the popularity, accessibility and user uptake of Bitcoin means it’s the more valuable coin by a wide margin. Dogecoin mining vs Bitcoin mining “Crypto mining” is a common way for users to get hold of valuable coins. The process of mining involves using powerful computers and high-speed internet connectivity to automatically solve a series of complex puzzles and algorithms to validate transactions and secure small portions of coins. With enough portions, miners begin to accrue enough value to make the long process of mining worthwhile. Despite the popularity of Bitcoin, it’s much more time-consuming to mine than its Dogecoin counterpart. Bitcoin miners typically take around ten minutes to approve transaction blocks, whereas Dogecoin miners can approve them ten times faster, with a block every minute. Because Dogecoin runs on an adaptation of the Ethereum blockchain — which can be mined at a rate of 13 million blocks for every 700,000 Bitcoin blocks — it’s significantly easier to mine. Frequently Asked Questions (FAQs) Can Dogecoin grow like Bitcoin? It’s extremely unlikely that Dogecoin will ever reach the value of Bitcoin for three key reasons. The primary reason is popularity. Because of Bitcoin’s widespread usage and popularity, it’s infinitely more sought-after than Dogecoin. Secondly, the circulation of Dogecoins doesn’t allow it to grow in the same way Bitcoin did. There is an unlimited number of Dogecoins, meaning the number will always be higher than demand. There is only a finite number of Bitcoins in circulation — meaning that demand will likely always outstrip supply, increasing its value. Comparatively speaking, Dogecoin is an inflationary coin and Bitcoin is a deflationary coin, meaning Dogecoin can never grow in the same way. Lastly, many reputable investors believe that the primary “crypto booms” are over. Only the longstanding, widely used coins like Bitcoin and Ethereum will see substantial gains whereas meme tokens like Dogecoin and Shiba Inu will never see these highs again in the eyes of many reputable traders. Is Dogecoin still a good investment? Despite it being a meme coin that is taken less seriously than other big players, many investors still hold Dogecoin in their portfolios. Because you can buy a significant number of Dogecoins for incredibly low prices, even minor fluctuations can land quick profits. However, the risk of another cryptocurrency crash — and the volatile nature of crypto in general — means that most investors will only hold a small percentage of the coin in their portfolio to mitigate against risks like the crypto crash of 2018. What is the disadvantage of Dogecoin? Despite it being a well-known cryptocurrency, Dogecoin has its disadvantages — both as a cryptocurrency and an investment. Some of the disadvantages to consider when investing in Dogecoin include: Lack of utility — Despite being the tenth-highest cryptocurrency in terms of value, it has almost no real-world utility. Because its value is entirely based on speculation and hype derived almost entirely from its meme background, Dogecoin is inherently unstable. It also lacks the real-world use and user uptake of larger, more practical coins like Bitcoin and Ethereum. No supply cap – Because the supply of Dogecoin is endless, it can never outpace demand — ultimately limiting its potential for growth. Little supporting metrics — It historically has not been a big grower. Despite booming significantly during the crypto boom of 2017, it never exceeded a value of more than 61 cents per coin — making it an incredibly low-value asset, even at the height of its power. Is Dogecoin a good long-term investment? Unfortunately, without a significant shift in either how it functions as a cryptocurrency, market shifts or investor interest, it’s unlikely investors will see long-term gains on the asset. Like all cryptocurrencies, it can act as a strong diversifier for short-term gains — given the volatile nature of the crypto market. However, its potential for long-term gains compared to established coins and tokens like Ethereum, Bitcoin and Solana, is slim.

Trescon is set to organize the 42nd edition of World AI Show, a global platform showcasing the latest trends and innovations in enterprise AI solutions. This highly anticipated event will be held on 2-3 August 2023 at the prestigious Marina Bay Sands Expo and Convention Centre in Singapore, bringing together IT Heads and business leaders from enterprises and governments across the APAC region. Home to a thriving innovation hub, Singapore is all set to host the 42nd edition of the World AI Show, organised by Trescon. The globally recognized event is set to highlight the latest trends and innovations in enterprise AI solution from top tech leaders, enterprises and governments from the APAC region. The rapid adoption of AI-based solutions is transforming the APAC region’s technological landscape. Singapore’s robust technological infrastructure and driven initiatives are driving AI-based technologies into the mainstream. In line with its National AI Strategy, Singapore recently launched the Artificial Intelligence Government Cloud Cluster to help accelerate AI adoption while underscoring the advantages offered by this emerging technology. With an aim of creating an environment of collaboration and fostering knowledge exchange, World AI Show – Singapore promises to unveil the future of AI and its various applications. The event will serve as a platform for global thought leaders, industry experts, innovators and AI enthusiasts to come together, share insights and explore cutting-edge AI solutions. Attendees will gain invaluable knowledge through keynote presentations, enterprise use-case discussions, panel sessions, and interactive tech talks. The event will also facilitate business networking opportunities, enabling participants to connect with like-minded professionals and forge partnerships to accelerate AI adoption within their organisations. The latest edition of this prestigious event taking place in Singapore cements its position as a global gathering of AI experts, government officials, and industry leaders. Featuring thought-provoking discussions on the latest trends, challenges, and opportunities in AI, the event will equip attendees with practical strategies and valuable insights. The exhibition floor will showcase the most innovative AI solutions allowing participants to experience first-hand how AI is reshaping the technological landscape across industry verticals. Expressing his excitement about the upcoming edition of the World AI Show, Naveen Bharadwaj, Group CEO, Trescon said, “World AI Show is a premier platform that brings together global AI experts, government officials, and industry leaders to share their groundbreaking ideas and help unlock the untapped potential of enterprise AI.” He further added, “Singapore’s dynamic technological landscape and strategic location in the APAC region made it a natural choice for us to host the 42nd edition of the event. We are looking forward to the groundbreaking discussions and witness firsthand the remarkable potential of AI in enterprise solutions.” Notable speakers attending the event include: Dennis Lui, Chief Executive, VITAL (Ministry of Finance) Sachin Tonk, Deputy Chief Data Officer, Data Science & Artificial Intelligence Division, GovTech Singapore Lee Wan Sie, Director (Trusted AI and Data), Infocomm Media Development Authority (IMDA) Dr James Ong, Founder & Managing Director, Artificial Intelligence International Institute (AIII) Bala Chandrasekaran, Managing Director-Digital Strategy & Transformation and Chief Digital Officer – Asia, Marsh McLennan Jeannette Pang, Managing Director, Head of Product Pricing, Billing & Cash Data Analytics, Standard Chartered Bank A/Prof. Eric Wong, Group Chief Data & Strategy Officer (GCDSO), National Healthcare Group, Singapore Miao Song, Global Chief Information Officer, GLP Ngiam Kee Yuan, Group Chief Technology Officer, National University Health System (NUHS) Singapore Ram Thilak Prem Kumar, Group Head – Data Science & AI, Inchcape plc James Ang, SVP APAC, Dataiku Saurabh Jha, Senior Vice President & Global Head of Data & Analytics, Tech Mahindra Hussain Boltwala, Director- Data Analytics, ASEAN, Altair Adrien Chenailler, Head of Data Science, OCBC Bank Daniel Ting, Director, AI Office, Singhealth Andy Ta Wee An, Chief Data Officer & Director, Data Analytics & AI (DNA), Synapxe Madhan Seduraman, Deputy Vice President, AI and Automation, Prudential Singapore Dr Adam Chee, Chief, Smart Health Leadership Centre, National University of Singapore Jenny Tan, President, ISACA SG Chapter Sudesh Kumar, Chief Digital Officer, Hello Health Group Jeffrey Lim, Director, Joyce A Tan & Partners LLC One of the key speakers at the show Miao Song, Global Chief Information Officer, GLP, said, “AI is the most promising yet controversial technology in this modern world. Adopting AI in the right way will only help us to grow our businesses and create a positive impact on humankind. I look forward to sharing best practices and take part in in-depth discussions in the upcoming World AI Show in Singapore.” Sudesh Kumar, Chief Digital Officer, Hello Health expressed his excitement about the show saying, “Witness the future at World AI Show, where global innovators unite to unveil ground-breaking advancements, fostering a world where artificial intelligence transcends human potential and creates limitless possibilities.” The World AI Show – Singapore is supported by: – Supporting Partner – EDBI and She Loves Data – Community Partner – Cyberverse Foundation – Innovation Partner – Karnataka Digital Economy Mission – Platinum sponsor – Dataiku, Tech Mahindra | Altair – Gold Sponsor – Singlestore – Silver Sponsor – Aidetic – Bronze Sponsor – WNS – Vuram, Squirro, neo4j – Exhibitor: Corsight AI Get ready to join the brightest minds from the AI community at the Marina Bay Sands Expo and Convention Centre in Singapore on 2nd-3rd August 2023. Deep dive into the world of AI as your forge partnerships and gain actionable insights at the World AI Show – Singapore. For further information, visit: www.worldaishow.com About Trescon Trescon is a pioneering force in the global business events and services sector, driving the adoption of emerging technologies while promoting sustainability and inclusive leadership. Our summits, expos, and conferences create real economic impact by connecting and empowering the key ecosystem of government organisations, regulators, enterprises, corporates and more. With the help of our 250+ employees across offices in 6 countries, several of our clients have quadrupled their leads, shortened sales cycles by half or less, entered markets three times faster, closed deals within unimaginable timelines and grown their businesses ultimately. For more information about Trescon visit: www.tresconglobal.com. For further details about the announcement, please contact: Nupur Aswani Head – Media, PR and Corporate Communications, Trescon +91 95559 15156 [email protected] Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

The World CX Summit, organized by Trescon, set to be hosted in Singapore on 2nd-3rd August 2023 at Marina Bay Sands Expo and Convention Centre. The Summit will bring together leading technology mavens, CX specialists and innovators to share their actionable insights and talk about successful use cases that are redefining the CX space. Over the past few years, businesses have pivoted their attention towards providing their customers with an immersive experience. Customer experience has played a critical role in changing the way businesses operate. Today, they consider the customer feedback as an integral part of their revenue model. As per a recent Grand View Research study, the customer experience management market segment is expected to expand at a compound annual growth rate of 18.1% from 2022 to 2030. With the increasing competition, brands today are digitizing their operations and integrating their operations with artificial intelligence and emerging technologies. The Asia-Pacific market continues to expand with growing awareness regarding conversational AI. According to a Research Dive report, the conversational AI market is forecasted to generate a revenue of US$ 3.022.4 million by 2028. This is attributed to the favorable government regulations and advanced ICT infrastructure in countries such as Singapore, India and Japan. The summit will help accelerate the digital transformation of the economy by driving topics such as conversational AI & chatbots, enabling omni-channel customer communication, digital experience platforms and much more. Naveen Bharadwaj, CEO of Trescon, highlighted the importance of the event, stating “Majority customers today are either digital natives or tech savvy and expect services to be delivered via omni-channels, available at their fingers tips anywhere, anytime and their overall experience has to be seamless. Our World CX Summit in Singapore will help businesses create unique CX strategies powered by emerging technologies to enhance customer satisfaction, attract more customers and become dominant customer-centric brands.” The World CX Summit is co-located alongside the 42nd global edition of the World AI Show and the 25th global edition of the World Blockchain Summit in Singapore. The summit offers a wide spectrum of expert speakers and panelists such as: Guillermo Arbeiza, Chief customer officer, Singlife with Aviva. Achint Setia, Chief Revenue and Marketing Officer, Zalora. Anna Znamenskaya, Chief Marketing Officer, foodpanda. Nikki Taylor, Marketing Growth Strategy Director AMEA, UPS. Denise Miura, Geo Vice President, APAC, Medallia Raymond Tan, Assistant Commissioner, Taxpayer eXperience Division; Quality Service Manager, Inland Revenue Authority of Singapore (IRAS) Vineet Sharma, Chief Operations Officer, Pizza Hut South Asia – Yum! Brands Jana Marle-Zizkova, Co-founder & CEO, She Loves Data Pavel Bulowski, Co-founder, She Loves Data Sachin Sharma, Chief Product & Commercial Officer, Standard Charted nexus Lino Ahlering, Group Chief Customer Officer, Daraz (Alibaba Group) Natalia Goh, Chief Operating Officer, Trust Bank Pamela Choong, Head of Customer Experience, JTC Corporation Vikrama Dhiman, Head of Mobility Products, Gojek Katja Forbes, Head of Client Experience CCIB, Standard Chartered Bank Soo Huat Chew, Head, Biz Initiative and Enablement, DBS MidCap/SME Natalia Goh, Chief Operating Officer, Trust Bank. The 9th global edition of the World CX Summit is supported by: Community Partners – Cyberverse Foundation, She loves data Innovation Partner – Karnataka Digital Economy Mission Platinum Sponsor – Medallia, Gold Sponsors – Contentsquare, Braze, Locobuzz, Kore.ai Silver Sponsors – Servicenow, Acquia, Sitecore | FPT, Survey2Connect Bronze Sponsors – Zegocloud, InMoment Executive Roundtable Sponsor – Insider About the World CX Summit World CX Summit is a thought-leadership-driven, business-focused, global series of events that takes place in strategic locations across the world. As a part of the world tour, this Singapore edition is gathering pre-qualified CX leaders, Marketers and tech experts under one roof to discuss how the latest technologies and customer insights can be combined to change CX as we know it. The summit is hosting a combination of insightful sessions, keynotes, case studies and panel discussions sure to deliver actionable insights that attendees can apply to their Customer Experience strategies. For more information, visit: https://bit.ly/3CJGNv6 About Trescon Trescon is a pioneering force in the global business events and services sector, driving the adoption of emerging technologies while promoting sustainability and inclusive leadership. Our summits, expos, and conferences create real economic impact by connecting and empowering the key ecosystem of government organisations, regulators, enterprises, corporates and more. With the help of our 250+ employees across offices in 6 countries, several of our clients have quadrupled their leads, shortened sales cycles by half or less, entered markets three times faster, closed deals within unimaginable timelines and grown their businesses ultimately. For more information about Trescon visit: www.tresconglobal.com. Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

U.S. District Judge Jed Rakoff rejected the summary judgment by Judge Analisa Torres. The SEC has already told the court that it plans to appeal Judge Torres’ finding. To prosecute its fraud case against Terraform Labs and its founder, Do Kwon, a New York federal court has ruled that the U.S SEC may proceed with the case. Nonetheless, the court let the securities regulator go forward, contradicting a prior finding by colleague Judge Analisa Torres, who found that secondary market XRP transactions weren’t considered an investment contract. Bloomberg states that U.S. District Judge Jed Rakoff rejected the summary judgment by Judge Analisa Torres, allowing the SEC’s action against Do Kwon and Terraform Labs to go forward. The Judge stated: No Relief for Defendants In an earlier effort to have the SEC case against Do Kwon dismissed, the legal team relied on a judgment by Judge Torres. The attorneys requested that the court recall the summary judgment, which had ruled that secondary market XRP did not constitute a security. Kwon’s attorneys contended that Ripple’s partial success in court showed the SEC had no basis in law to classify most cryptocurrencies as securities. The attorneys emphasized Judge Torres’s difference between institutional and programmatic sales. But Judge Rakoff wouldn’t accept that distinction. The SEC has already told the court that it plans to appeal Judge Torres’ finding in its complaint against Ripple, and at the hearing against Terraform and Do Kwon, it asked Judge Rakoff to disregard the summary judgment. Highlighted Crypto News Today: FTT Pumps 15% Amidst FTX Revival Plan

The trading price of Ethereum (ETH) has mostly stayed between $1800 and $1950 in the last few weeks. Despite the recent fall, Crypto owners surged by 21% in the first half of 2023. The crypto market has experienced massive growth globally with significant developments recently. In the first half of 2023, the number of crypto owners surged by 21%, rising from 425 million in December 2022 to 516 million. During this period Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has shown remarkable growth in crypto holders, with a surge of 21% along with the crypto market. On August 1, the crypto exchange Crypto.com shared the crypto market sizing report for the first half of 2023. The data shows that Ethereum owners increased from 87 million in December 2022 to 105 million at the end of the first half of 2023, with a surge of over 21%. Here is a fun fact, as per the report, Ethereum owners account for 20% of the crypto owners. Ethereum’s Shanghai upgrade played an important role in its adoption, which allowed the withdrawal of staked ETH from the Proof-of-Stake (PoS) blockchain. ETH adoption showed a rapid surge in April when its price reached the $2K mark for the first time in 2023. However, adoption started dropping after the surge, while the price of ETH stayed below the $2K mark. Recently, ETH completed its eighth anniversary on July 30. The entire crypto market waited for ETH to pump above the $2K mark. However, it ended up trading below the $1900 mark. Ethereum (ETH) Price Analysis: 24-Hours Timeframe At the time of writing, the trading price of Ethereum is $1,826, with a decline of 2.09% in the last 24 hours. On the contrary, the daily trading volume of ETH has experienced an increase of 19.45%, according to CoinMarketCap. Ethereum (ETH) Trading Price chart (source: TradingView) The daily trading price chart shows that the ETH price has bearish momentum as the current price is below the 50-day exponential moving average (50 EMA). Moreover, according to RSI, ETH is neutral and inching closer to the oversold zone. In the past few weeks, Ethereum has mostly traded between the $1800 to $1950 range. The leading altcoin is following in the footsteps of Bitcoin, as the ETH trading price has fallen below $1900 after BTC’s latest decline below the $29,000 mark. However, ETH may experience a significant breakthrough in the upcoming days. According to the data, if the trading price of ETH experiences bullish momentum, it will reach the nearest resistance of $1850. If the trend continues, the price will break through the $1950 range and even advance to surpass the $2000 mark soon. Another drop may begin if Ethereum fails to break the $1850 resistance level. If the price drops below $1800, the next significant support is $1780.

FTX.com, a previously defunct crypto exchange, has filed a Reorganization proposal with the U.S. Bankruptcy Court. The FTX.com restart would only be available to offshore customers. Following the announcement, FTT token price soared over 15% from $1.32 to $1.59. Defunct crypto exchange FTX.com has filed an initial “Plan of Reorganization” with the U.S. Bankruptcy Court, offering a glimmer of hope for the exchange’s revival. The proposed plan outlines a potential restart, but with a catch – it would only be available to “offshore customers.” Following its collapse in November 2022, along with its 101 debtors, FTX.com faced an explosive period in the crypto market, marked by several scandals. The current application, on the other hand, intends to address its financial concerns by classifying creditors, with one class of claimants granted the opportunity to revive the exchange with the support of third-party investors if they agree to the terms. Notably, this proposed restructuring has raised concerns among FTT token holders. Under the plan, they would receive no compensation, leaving them with no share in the potential reboot of FTX.com. However, After the announcement, FTX native cryptocurrency FTT price climbed by over 15%, from $1.32 to $1.59. At the time of writing, the FTX Token traded at $1.47, with a 24-hour trading volume of $34.3 million, representing a 303% surge. FTX Token (FTT) Price Chart (Source: Tradingview) On a more positive note, the daily price chart for FTT indicates a short-term bullish movement, as the current price is slightly above the 50-day exponential moving average (EMA). Additionally, the daily Relative Strength Index (RSI) shows the crypto in the neutral zone (53.57).

Over the last few months, Litecoin has emerged as one of the top trending cryptocurrencies due to its halving event happening in August. As this event drew closer, crypto investors began filling up their LTC bags in preparation for what is expected to be a very bullish event. And now, with less than two days left to go before the halving, sharks have made remarkable moves to position themselves for possible upside. Litecoin Sharks Load Up Their Bags A report shared by the on-chain tracking platform Santiment revealed how Litecoin investors are currently looking at the digital asset. The chart showed an impressive accumulation trend from dolphin and shark wallets, which have increased their holdings significantly in the last month. Santiment’s report shows that these wallets holding between $9,500 and $950,000 worth of LTC have added over 200,00 coins to their balances since June 14. On this date, the total holdings of these wallets were sitting just slightly below 18 million. However, in the next two weeks, their balances grew above 18.1 million coins. There has also been a semi-constant uptrend among these investors. Although there were dips here and there in their holdings, they remained committed to the accumulation over this last two weeks, each time buying more coins than they sold. What Is Driving The LTC Accumulation? The current accumulation from the dolphin and shark wallets are not isolated and just like the whale acquisitions, they are being driven by the same thing. The Litecoin halving is expected to take place on Wednesday and since this event has been historically bullish, it has triggered active participation from investors looking to capitalize on it. If the LTC halving plays out as expected, then it is possible that the price of the altcoin will climb above $100 once more. This would put the majority of the LTC accumulated by the dolphin and shark addresses over the last two weeks back in profit territory. However, the days leading up to the event haven’t been as bullish as expected. Even though LTC’s price is still trading above $90, it has seen only single-digit daily gains over this time. Naturally, with less than two days to go, there should have already been some rapid increases for the cryptocurrency but there has been none. This current trend suggests that the halving may already be priced into LTC’s price, especially given the fact that the crypto bear market has continued. At the time of writing, LTC is changing hands at a price of $93.80, down 0.98%, according to data from Coinmarketcap.

Scope data on July 31 shows that 29 meme coins were launched over the weekend on Base to capitalize on the recent frenzy surrounding BaldBaseBald (BALD), a meme coin inspired by Coinbase CEO Brian Armstrong. However, all 29 meme coins have since been rugged, with the deployer exiting with over $1 million after seeding roughly $105,000 of ETH as liquidity. Base is an Ethereum layer-2 platform based on Optimism roll-up technology. Rug Pulls On Base On July 29 and 30, there was excitement about the meme coin, BALD, as its prices exploded by as much as 4,000X, pushing the token’s market cap to over $100 million. This was great news for those who invested early as some exited as the wave rise, profiting. Some builders took advantage of the hype and created meme coins to deceive investors eager to join the BALD trend, eventually resulting in losses for some meme coin token holders. While BALD has already been rug-pulled, Scope notes that the address behind the 29 meme coins also has a history of rug-pulling in other platforms, including the BNB Chain and Arbitrum, a popular Ethereum layer-2 platform. In platforms where meme coins are traded, liquidity, provided by the community, is essential due to the decentralized nature of trading. Rug pullers typically supply liquidity to their meme coins, which attracts more users to buy the coin and increases liquidity as prices rise. However, the creator then deliberately withdraws liquidity at this point, converting their meme coins to a more liquid coin like Ethereum, causing their token prices to drop to zero. As of July 31, hours after the rug pull, the address primarily held USDC and a small portion of ETH in their portfolio, with no meme coins. This potentially highlights the rug puller’s risk-averseness and his concerns about the risks involved in this asset class. Related Reading: Bitcoin Crucial Moment: Will Resistance At $29,500 Trigger A Sell-Off Or Surge? Meme Coins Are Volatile Meme coins are popular in crypto, especially Ethereum, where they are minted as fungible ERC-20 tokens in their trillions. Dogecoin, endorsed by Elon Musk, is the most liquid and widely recognized. Despite rising popularity, there are concerns about their volatility and lack of utility, with some critics labeling them as “casinos” that undermine the true vision of crypto as an alternative financial system. For example, the collapse of BALD, which commanded billions in market cap on Base over the weekend, has drawn widespread condemnation. Besides BALD, other like PEPE and LADYS are struggling, dropping by over 70% from their all-time peaks registered in H1 2023.

Bitcoin (BTC) has been trading in a tight range for quite some time now, with bulls and bears engaged in a tug-of-war over key support and resistance levels. The recent move above $29,500 has provided some hope for the bulls, but so far, they have been unable to gather enough momentum to push prices higher. Bitcoin Struggles To Break Above Key Moving Average According to Material Indicators, a leading market analysis firm, the key to a bullish breakout in the BTC market is for the coin to print candles above the 100-week moving average (MA). However, BTC has yet to test this level, and bulls have struggled to maintain the current range. The 50-day MA has been a crucial support level, with BTC testing it for today’s eighth consecutive day. While the 50-day MA has managed to hold, resistance at $29,500 has been replenishing, posing a challenge for the bulls. If they cannot clear this level, Material Indicators expects a run at the lows with $28,300 as the last line of defense. The big question for BTC investors is whether the coin will bounce from the $28,000 zone or extend to $25,000 and beyond. All of these moves are possible, but the mystery lies in what order and timeline they will play out. As the market approaches the monthly close, all eyes are on the potential for volatility in the BTC market. Traders and investors closely monitor the price action and indicators to prepare for potential moves. BTC’s Store Of Value Narrative Solidified The recent changes in the structure of Bitcoin’s trading volume have sparked a debate among cryptocurrency investors and traders. According to Crypto Quant, since January 2023, the Spot vs. Derivatives volume ratio has dropped from 35% to 6%, resulting in a new era of low volatility in the cryptocurrency market. This decrease in spot volume means that investors are holding onto their Bitcoins instead of selling them, as Bitcoin is now considered a valuable asset, similar to digital gold. This is seen in the BTC: Binary Coin Days Destroyed (CDD) chart, which shows that since the start of the year, there have been no active sales among the cohort of long-term holders (LTHs). Moreover, the total Simple Moving Average (SMA)-7d weekly trading volume of Bitcoin across all exchanges has dropped from 2.5 million BTC in March to less than 600 thousand BTC in July, representing a more than 75% reduction over the specified period. While some may see this trend as a crisis, Crypto Quant believes it is a sign of the cryptocurrency market maturing and becoming more stable and predictable. However, this trend could lead to significant changes in the Bitcoin market. A reduction in spot volume may result in a reduction in liquidity, which could increase the demand and price of Bitcoin. The market currently lacks a new wave of optimism, and the question is, where will it come from? The answer may lie in the growing institutional interest in Bitcoin and other cryptocurrencies. Several major financial institutions, such as Fidelity, Blackrock, and Morgan Stanley, have recently applied for Bitcoin Spot Exchange-Traded Funds (ETFs). This institutional interest could bring a new wave of optimism to the cryptocurrency market, increasing demand and increasing prices. Bitcoin is facing challenges in its attempt to regain its 50-day moving average (MA) as a support level instead of being another resistance line. As of the time of writing, Bitcoin is trading at $29,200, representing a slight 0.6% decline over the last 24 hours. Featured image from iStock, chart from TradingView.com

On July 30, a meme coin called BaldBaseBald (BALD) launched on Base Network, Coinbase’s new Layer 2 built on Optimism. The coin referenced Brian Armstrong, Coinbase’s “bald” founder, and quickly became a coordination point for speculators on the frontier chain. Within two days, the token had reached a market cap of $100 million, with over $25 million in liquidity. However, the token’s meteoric rise turned out to be a classic case of market manipulation, as the deployer behind the token, BaldBaseBald, rug pulled the token and caused its price to plummet by 85%. Malicious Market Behavior Behind BALD? Market researcher Thiccy indexed all the transactions from the Bald deployer and uncovered a story of malicious market behavior. BaldBaseBald added over 6,700 ETH, or over $12.5 million worth of liquidity, to the pool in the first 24 hours, a surprising amount of capital for a meme coin on a new chain. The deployer’s actions were undoubtedly bullish for speculators, and many people speculated that Brian Armstrong had created the coin to drum up hype. However, as soon as the deployer stopped adding liquidity to the pool, the price stagnated and broke down. 24 hours later, the deployer started bidding on BALD again, causing the price to double. Then, the deployer withdrew over 10.500 Ethereum (ETH), or almost $20 million worth of liquidity, leading to an 85% drop in the token’s value. Thiccy’s analysis showed that the deployer had made a net profit of 2,789 ETH, or 5.2 million dollars, after adding 6,870 ETH, spending 1,360 ETH buying at an average price of 0.0004, and withdrawing 10,704 ETH. It was surprising how well-capitalized the actor was and how bold they were in carrying out this apparent manipulative market behavior in the middle of the public light on Coinbase’s compliance chain. Thiccy Concluded: Thiccy advises investors to control their Fear of Missing Out (FOMO) and not risk more than they can afford to lose, as survival is too important in this game. As for BaldBaseBald has removed the rest of the liquidity, bringing their total Profit and Loss (PnL) to 3,163 ETH, or $5.9 million. Featured image from iStock, chart from TradingView.com

Tether Holdings said in its Q2 attestation report that its surplus reserves had grown by $850M. From April to June 2023, Tether’s operational earnings topped $1 billion. According to its most recent financial attestation for the second quarter of 2023, Tether’s treasury reserve assets supporting circulating USDT tokens continue to grow. Tether Holdings said in its Q2 attestation report that its surplus reserves had grown by $850 million, to a total of $3.3 billion, as per the data from accounting firm BDO. The company’s indirect exposure to U.S. Treasuries owned through money market funds and U.S. Treasuries collateralizing its sudden repo is also revealed for the first time in this report. Prioritizing Surplus Reserves After the severe crypto winter and fall of several firms last year, Tether has prioritized allocating corporate earnings to accumulating surplus reserves. Tether’s 100% reserves to redeem USDT tokens in circulation are not included in the surplus. Tether’s CTO Ardoino has decided to use income from shareholders to fund the creation of a sizable excess reserve. Because he believes that companies who have undercollateralized their assets or operations have created vulnerabilities in the broader crypto ecosystem. Moreover, from April to June 2023, Tether’s operational earnings topped $1 billion, a 30% increase over Q1 2023. Quarterly performance increased because of a market-wide upswing fueled by Bitcoin’s surge to the $30,000 level. A whopping 85% of Tether’s reserves are in “liquid” assets like cash or currency equivalents, according to the 2023 Q2 report. According to Tether’s most recent reserve attestation, the value of the company’s holdings is $86.4 billion. Also, there is now $83.17 billion worth of USDT tokens in circulation, making Tether liable for that amount. Tether has been dominating the stablecoin market for quite some time now. Highlighted Crypto News Today: XRP Slumps 2.5%; Yet Adds 1200 Accounts In a Day

Stablecoin USDT issuer Tether published its Q2 2023 attestation report on July 31 and according to the report, Tether recorded an “operational profit” of $1 billion in the second quarter, about a 30% decline from its Q1 profit of $1.48 billion. Although its $1 billion “operational profit” represents a decline from the first quarter, there is a 30% increase in comparison with the Q2 of 2022. Tether also disclosed a share buyback amounting to $115 million and its other investments in energy-related initiatives which are financed by some of the profits from Q2. “The investment in energy-related initiatives is not included in the CRR as these are not considered by Tether as an eligible reserve for the token in circulation, the company clarified. Tether Sees Increase In Excess Reserves Tether’s excess reserves in the second year of this year increased by $850 million, taking its total excess reserves to around $3.3 billion. These excess reserves are the profits the company doesn’t share as dividends to shareholders. Instead, it holds them to shore up its 100% reserves used in backing all USDT in circulation and maintaining the token’s stability. The company has explained that keeping an additional 4% of its assets within its reserves is one of its risk management decisions as it aims to protect customers’ funds. It believes this move is necessary and one that other players should emulate, as under-collateralization, brings weakness to the whole system. Remaining Committed To Transparency In 2021, Tether agreed to release quarterly reports on its reserves for two years as part of its settlement with the authorities. However, the company continues to release these reports as part of its commitment to transparency despite fulfilling its agreement with the authorities earlier this year. As part of the report, Tether’s CTO stated: Tether has faced criticisms in the past, especially concerning its reserves and whether or not the USDT tokens in circulation were 100% backed. However, despite those allegations, USDT has continued to maintain its peg to the US dollar (re-pegging very quickly every time it dropped below a dollar). The USDT token also remains the largest stablecoin with a market cap of $83.8 billion, with its closest rival, Circle’s USDC, boasting a market cap of $26 billion according to data from CoinMarketCap.

Hacker’s bold attempt: 2800 ETH heist intercepted. MEV bot vs. hacker: Blockchain battle unfolds. White-hat hacker’s triumph: Foiling a $5.5M ETH theft. A hacker attempted to exploit the Curve protocol with the intention of stealing 2800 ETH, valued at $5.5 million. However, their efforts were intercepted. Identifying a vulnerability in the Curve protocol, the hacker initiated a transaction to acquire the substantial sum. Unbeknownst to them, a MEV (Miner Extractable Value) bot operated by the white-hat hacker, coffeebabe.eth, was monitoring the situation. For those unfamiliar, a MEV bot is software that scans the blockchain for lucrative transactions. By ‘frontrunning’ these transactions with higher gas fees, the bot ensures its own transaction gets processed first. White hat bot strikes back In this turn of events, the MEV bot identified the hacker’s transaction and took swift action. It copied the transaction, substituted the hacker’s address with its own, and increased the gas fee. Consequently, the bot’s transaction was processed ahead of the hacker’s, securing the 2800 ETH. While this occurrence may sound concerning, it is a well-known phenomenon in the Ethereum ecosystem. The public nature of blockchain transactions allows anyone to copy a transaction and replace the recipient’s address, prioritizing their transaction by paying a higher fee. This dynamic has notable implications, particularly for hackers who must consider the risk of being outpaced. The operator of the MEV bot, coffeebabe.eth, is a white-hat hacker with a focus on cybersecurity and ethical hacking. Upon receiving the stolen ETH, they promptly returned the funds to Curve, thwarting the hacker’s plans and maintaining the integrity of the system.