• Schwab Asset Management launches its first Crypto ETF.
  • Crypto Fund Variant raises $450 million to back Web3, DeFi projects
  • Ethereum's final testnet merge set for early August.
  • Bitcoin rallies to monthly high of $24.5k before cooling off to back down to $22.9k at the time of writing along with the rest of the Crypto market.
  • SEC charges 11 people linked to Forsage, an alleged ponzi-scheme that raised over $300 million.
  • UK Law Commission publishes proposal to reform laws on Digital Assets in an effort to promote the sector's development.
  • FDIC issues warning to Voyager Digital stating that their insurance policy does not extend to banks' crypto partners.

Business

Financial giant Schwab set to launch its first crypto-related ETF on NYSE
Schwab Asset Management announced on July 29 the debut of the Schwab Crypto Thematic ETF on the New York Stock Exchange.
FinboldJordan Major
Crypto Fund Variant Commits $450M to Backing Web3, DeFi Projects
A $150 million seed fund will focus on Web3 and a separate $300 million opportunities fund will double down on portfolio projects.
CoinDeskBrandy Betz
Ethereum’s Final Testnet Merge Set for Early August - Decrypt
Goerli will be the network’s third and final testnet before the merge and transition to proof of stake, which is scheduled for mid-September.
DecryptSander Lutz
Barclays Expected to Invest ‘Millions of Dollars’ in Copper’s Funding Round: Report
The crypto custodian is valued at $2 billion.
CoinDeskJamie Crawley
Aave DAO Approves Creating GHO Stablecoin - Decrypt
The stablecoin, approved by an overwhelming majority of voters, will be backed by over-collateralized assets that continue to earn yield.
DecryptAndré Beganski
NFT domains platform Unstoppable raises $65M Series A at $1B valuation
The company managed to land a 10 figure valuation after generating $80 million in sales in the past three years.
CointelegraphZhiyuan Sun
Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager
Bankman-Fried has emerged as something of a savior for the $900 billion crypto market as it faces a deepening liquidity crunch.
CNBCRyan Browne
Meta lost $2.8 billion on its virtual reality ambitions during Q2
The substantial sum is the latest sign that CEO Mark Zuckerberg and Meta continues to spend heavily to win the so-called “metaverse.”
CNBCKif Leswing
Crypto Exchange FTX.US Opens Stock Trading to Users Nationwide
Its president said the company won’t be charging trading fees or use a Robinhood-like payment for order flow business model.
CoinDeskCameron Thompson
Lender Babel Finance Lost $280M Trading Customer Funds: Report
The firm is looking to convert hundreds of million in debt into equity after a series of trading losses.
CoinDeskOliver Knight
Report: Pro-Russia groups raise $2.2 million in cryptocurrency to fund war
During the war, both Ukraine and Russia have tapped into cryptocurrency markets to raise money for their military efforts.
The Record by Recorded FutureDaryna Antoniuk

Markets

Crypto Charts 74
Bitcoin Last time we said: ‘I think we can trade a little lower to complete wave (y) with a push down into the $20′960 - $20′182 area where we would be looking to add to longs with stops remaining at last week’s levels’ We traded down to $20′730 enabling us
The AssetsMatthew Clark

Regulations

SEC charges 11 people in alleged $300 million crypto Ponzi scheme
SEC charges 11 people in alleged $300 million crypto Ponzi scheme
CNBCMacKenzie Sigalos
UK Law Commission Publishes Proposals to Reform Laws Relating to Digital Assets — Says Reforms Must Not ‘Stifle Development’ – Regulation Bitcoin News
Reforming of the laws protects the rights of users and maximise the potential of digital assets while positioning England as global hub
Bitcoin NewsTerence Zimwara
Voyager Digital’s Clash With US Regulators Followed by Broader FDIC Warning
After directing the crypto-lending platform to cease and desist claims that its customers were shielded by deposit insurance, the agency is now telling everybody else what not to do.
CoinDeskJesse Hamilton
Dubai permits full operation to FTX subsidiary FZE via first MVP license
FTX operations in Dubai will be focused on its exchange and clearing house for cryptocurrencies.
CointelegraphDiana Aguilar
Kraken Under Investigation for Alleged Sanctions Violations: Report
The NY Times reported that Kraken allegedly allowed Iranian users onto the platform.
CoinDeskNikhilesh De and Cheyenne Ligon
Tighter Bank Rules Give Dubai’s Crypto Shops a New Allure
In the lobby of a Dubai skyscraper, a doorman fields queries about an increasingly popular crypto shop, directing clients to office 501, down a grubby corridor on the fifth floor.
BloombergBen Bartenstein
Bill addressing stablecoins risks in US likely delayed until September: Report
House representatives will delay a vote on a stablecoin bill after failing to complete a draft in time for a committee meeting.
CointelegraphTurner Wright

Opinions

Commodity guru expects Fed rate hikes to boost Bitcoin to ‘outperform most assets’
Commodity strategist Mike McGlone has suggested the upcoming Fed interest rates will likely build the foundation for Bitcoin to rally.
FinboldJustinas Baltrusaitis

Algorithmic stablecoin collapse may crash crypto markets again says IMF

https://protos.com/algorithmic-stablecoin-collapse-may-crash-crypto-markets-again-says-imf/

Readings / Podcasts

Why Markets Viewed the Fed's Latest 75 Basis Point Hike as 'Dovish'

https://nlwcrypto.libsyn.com/why-markets-viewed-the-feds-latest-75-basis-point-hike-as-dovish