News from the exchanges

Binance wants to establish regional headquarters and be recognized as a financial institution by local regulators, breaking away from its previous decentralized model, according to Reuters, citing CEO Changpeng Zhao. (Learn more: Crypto Exchange Self-Regulation Takes Effect as Regulators Step Up)

Bullish, a heavily-backed, yet-to-be-launched crypto exchange, has announced a 7-week private pilot program with simulated crypto assets and paper money, which will allow them to solicit feedback and refine their user experience before launch. They’re giving out a total of USD 525,000 in cash prizes to promote participation.

According to the South China Morning Post, the operators of cryptocurrency exchanges Huobi and OKCoin are closing their respective subsidiaries in Beijing as part of China’s crypto crackdown.
According to the South China Morning Post, the operators of cryptocurrency exchanges Huobi and OKCoin are closing their respective subsidiaries in Beijing as part of China’s crypto crackdown.

Security news

The developers of Monero (XMR) have cautioned that “a rather severe flaw has been discovered in Monero’s decoy selection mechanism, which may impair the anonymity of your transaction.”

Adoption updates

Mastercard has established a new worldwide startup engagement program called Start Path, which is aimed towards assisting fast-growing digital assets, blockchain, and cryptocurrency businesses. According to the founders participating in this initiative, they hope to address a variety of pain issues such as asset tokenization, data accuracy, digital security, and seamless access between the traditional and digital economies.

Dash (DASH), a digital cash project, has announced the launch of DashDirect, a retail app that allows DASH to be spent at over 155,000 merchant in-store locations and more than 125 online retailers in the United States.

AS Roma (ASR), an Italian professional football club, and Zytara Labs, a subsidiary of fintech Zytara Inc., announced a three-year exclusive product collaboration agreement worth USD 42 million, with funding from the DigitalBits Foundation. Among other things, the partners stated that they will use the DigitalBits blockchain to create official ASR blockchain-based digital assets.

News about wallets

Andreessen Horowitz (a16z) announced the completion of a USD 20 million Series A investment round in Valora, a mobile-first crypto wallet. They said that it has more than 200K users with a balance and 53K monthly active users in over 100 countries.

NFTs news

The president of e-commerce platform Shopify, Harvey Finkelstein, announced that his company is now allowing merchants on its platform to sell non-fungible tokens (NFTs) directly to their customers. The Chicago Bulls NFT store will be the first to be supported.

The Russian Hermitage Museum will sell virtual copies of five of its most famous masterpieces on the Binance NFT marketplace in August, according to the exchange. The collection includes works such as Leonardo da Vinci’s Madonna Litta, Giorgione’s Judith, Vincent van Gogh’s Lilac Bush, Wassily Kandinsky’s Composition VI, and Corner of the Garden at Montgeron (Claude Monet).

Yahoo Japan has announced a collaboration with telecoms provider Range Corporation, via its LVC Corporation subsidiary, to produce a line of NFTs based on LINE’s proprietary blockchain. Beginning this winter, the NFTs will be available for trading on YAHUOKU!, Yahoo! JAPAN’s online auction service.
Splinterlands, an NFT-based trading card game, announced the completion of a private sale for the future Splintershards (SPS) token, which netted USD 3.6 million. Animoca Brands, Gate.io, Polygon (MATIC), and other crypto-native funds and ecosystem stakeholders participated in the funding round.

DeFi updates

Andre Cronje, the founder of Decentralized Finance (DeFi) aggregator Yearn Finance (YFI), has developed the notion of Fixed Forex, a way to integrate foreign exchange processes to the industry. There is no set launch date at this time, and he has stated that the system is still experimental and unaudited.