Digital Assets Report 80

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

#Bitcoin balance on exchanges continues its macro decline, reaching 12.6% of the Circulating Supply (2.4M $BTC).

Exchange balances have now seen a macro outflow of over 4.6% of the circulating supply since the March 2020 ATH.

Live Chart: https://t.co/zJnfaG05zt pic.twitter.com/vhKCudqGUr
— glassnode (@glassnode) July 29, 2022

Inflation running at a 40-year high.

Fed raises interest rates .75%. Largest hike since 1994.

No denying inflation now. Bitcoin up 7.5%.
— Tyler Winklevoss (@tyler) July 27, 2022