Circle, the creator of the USD Coin (USDC) stablecoin, has frozen more than 75,000 USDC in funds connected to the 44 Tornado Cash addresses sanctioned by the United States Treasury Departments Specially Designated Nationals and Blocked Persons (SDN) list.

Tornado Cash is a dApp that hides the history of previous crypto transactions on the Ethereum blockchain. Presently, Tornado Cashs smart contract addresses hold an estimated $437 million in assets, including wrapped Bitcoin (WBTC), Ethereum and stablecoins. Due to this, issuers are expected to try and prevent such assets from being traded or redeemed.

The digital currency mixers Ethereum and USDC smart contract addresses on the SDN list are hence not allowed for U.S individuals, businesses, and any other entity. Moreover, penalties for willful non-compliance could range from anywhere between $50,000 to $10,000,000 in fines along with 10 to 30 years in prison.

To make matters worse, Tornado Cash's new sanctions could even complicate simple interactions like Gitcoin donations, project work, and withdrawing or depositing from smart contracts as they could all be interpreted as violations from now on.

BitMEX is among the cryptocurrency markets longest-running derivatives exchanges. It has recently expanded into traditional financial markets via the launch of perpetual swap contracts which are tied to international currencies.

The company announced the debut of FX perpetual swap contracts, which shall reportedly enable users to trade over 20 foreign currency contracts. This is BitMEXs most significant move into non-cryptocurrency related products since it rebranded and hired exchange veteran Alexander Hoptner as CEO to replace founder Arthur Hayes.

Despite some initial setbacks, the launch of the contracts is indicative of BitMEXs continuing strategy wherein the company will keep on providing new and existing users with a wider range of cryptocurrency-margined contracts. These will also include products which shall enable traders to gain access to various commodities and currencies.

BlackRock Inc. is teaming up with Coinbase Global Inc. to simplify the process for institutional investors to manage and trade Bitcoin (BTC), ushering the worlds biggest asset manager into a crypto market roiled by falling prices, regulations, and government investigations.

Whats there to know about the partnership?

According to a statement issued last week, BlackRock clients will be able to utilize its Aladdin investment system to manage their exposure to BTC alongside other portfolio assets like bonds and stocks, as well as to facilitate trading and financing via Coinbase. Additionally, BlackRock representatives have stated that the partnership with Coinbase shall initially focus on Bitcoin with discussions for incorporating other cryptocurrencies like Ethereum to be considered at a later date.

Although 2022 has mostly been a negative year so far for many digital asset markets, BlackRocks move has nonetheless bolstered Wall Streets traditional financial players involvement in cryptocurrencies and related technologies. Still, there is no denying that Bitcoin has taken a massive hit this year thanks to incidents like the Terra disaster and the downfall of Three Arrows Capital. Incidents like these have raised concerns regarding the markets resilience which has since also resulted in more regulatory scrutiny as of late.

A new day for Coinbase and crypto?

The collaboration with BlackRock has provided a brief respite to the largest U.S cryptocurrency trading platform, as Coinbases stock had recently lost over two-thirds of its value this year. The United States Securities and Exchange Commission has also been investigating Coinbase for allowing American citizens to trade digital assets which should have reportedly been registered as securities.

Nevertheless, Coinbases situation could soon improve thanks to the new collaboration. BlackRock selected Coinbase as a partner primarily because of its market scale and role in offering trading and custody services, as well as prime brokerage and reporting functionalities.Lastly, although both companies clients shall be able to use the services, perhaps the more important aspect of the partnership is that it is indicative of the sheer amount of interest in Bitcoin and digital assets by institutional investors. This would imply that although the cryptocurrency market is yet to fully recover, many large-scale companies and corporations are keen to explore the possibilities of crypto, blockchain, NFTs, the metaverse, and DeFi in general for their respective features and services going forward.

Following the shock of Michael Saylor stepping down as MicroStrategys CEO, with his replacement being the companys President and CFO Phong Le, we now have an offiical explanation from Michael justifying his decision.

Saylor clarified that the primary responsibility of a CEO is to run a software company. He claims that the decision to make Phong Le CEO was made as the company grew to 2,200 employees and gained thousands of customers. There had hence reportedly been a succession plan in the works for about two years, with Phong first becoming COO and then President.

As Michael emphasized, MicroStrategy officially entered into a Bitcoin strategy while Phong was the companys President. Moreover, the now former MicroStrategy CEO stated that this was the underlying reason for the company to promote Phong to President and CEO.

Michael also stated that he has been wanting to take on the role of Executive Chairman for some time, and that he was going to step down as CEO eventually.

From now on, Michael will continue to serve as the Chair of the Investments Committee, which supervises the companys Bitcoin acquisition strategy, and his primary role will be advocacy, education, and innovation, with a focus on technology leadership opportunities.
 

The rise of cryptocurrency has opened up new opportunities for the global online betting industry and today the number of betting sites and online casinos accepting cryptocurrencies is growing at an unprecedented rate. 

But what if you dont own Bitcoin or Ethereum? While these are the most popular cryptocurrencies fuelling the growth of the online betting market, there are other, just as valid options, such as Ripple. Heres why XRP should be your coin of choice when gambling online. 

Ripple (XRP): An Overview

Unlike other cryptocurrencies like Bitcoin, Ripple is built specifically to streamline payments between financial institutions databases. XRP - which is the native crypto coin of the system created by Ripple Labs - is running on its own blockchain infrastructure (XRP Ledger), which enables instant, secure, and trustless international transactions. 

While most coins are now in what is called a crypto winter, NASDAQ predicts that XRP could reach a value of $3.61 by the end of 2025. But what made Ripple the third-largest cryptocurrency in the world is its ambitious goal to become the preferred tools for international banks to transfer money and complete cross-border payments. 

Choosing XRP For Online Gambling: What Are The Benefits

Online gambling and betting are one of the most popular entertainment use cases for Ethereum and other cryptocurrencies like Bitcoin. But the unique features of XRP might make it an even better choice for gamblers. 

Here are some of the benefits of choosing an XRP-friendly casino:

• XRP transactions (including deposits and withdrawals) are much faster than Bitcoin or Ethereum transfers, which take several minutes
• With the average transaction cost standing at a fraction of a cent, XRP payments are low-cost or nearly free of charge.
• The Ripple system is among the safest infrastructures for payments and it is backed by main financial institutions like Santander
• Unlike Bitcoin, XRP coins are pre-mined and already in existence, making them immune to inflation

Tips For Online Gamblers Using Ripple

Choose Your Casino Wisely

There are a few key factors to consider if you are looking to choose your preferred XRP casino. Firstly, the availability of XRP-friendly games and features is a must. Choosing a casino that only offers a few games might limit your winning and entertainment opportunities. 

Other factors to keep in mind include:

• Security and privacy standards
• Availability of bonuses
• House-edges and fees
• Certifications and licenses
• Customer support standards and tools

Understand Market Fluctuations

While XRPs price has reached an all-time high of $2.7593 in the past, recent market fluctuations have caused the coin to lose nearly 50% of its value in just 30 days. 

While the high volatility is a common feature among all cryptocurrencies, it is especially important for gamblers taking a bet on XRP to understand what impact these market fluctuations can have on their winnings. Keep an Eye on Emerging Trends

XRP has been steadily growing since its debut in 2018, and today, it holds a whopping market capitalization of $17.3 billion. However, events that have taken place over the past years, including the lawsuit launched by SEC in 2020, have shaken Ripple to the core. 

If you are looking to invest in this cryptocurrency and use it for most of your withdrawals and deposits, you might be able to capitalize on possible IPOs and the appreciation expected to take place over the next 3-8 years.

On the other hand, the lawsuits outcome can have a severe impact on the value of your investment. 

In any case, Ripple gambling will remain legal and safe regardless of upcoming market fluctuations and trends, and opting for this cryptocurrency instead of Bitcoin or Ethereum can be an excellent way to enjoy secure and fast transactions. 

As the crypto and blockchain industry continues to become increasingly mainstream, the Law Commission of England and Wales has issued a consultation paper on the cryptocurrency market, addressing numerous components of the digital asset class.

The document primarily focuses on reforming laws governing certain virtual assets as property rights objects. Comments and responses will be accepted by the Law Commission until November 4th, 2022.

For cryptocurrencies and NFTs, the consultation paper analyzes private law principles as well as private property laws. It claims that digital assets and any associated technologies have the potential to create an Internet of property.

Moreover, property rights conferred on an asset class aid in the official characterization of several modern and complex legal relationships. As per the paper, these rights would play a vital role in insolvency cases along with situations involving the vesting of property on personal bankruptcy, succession on death, and finally tracing in cases of theft, fraud, or any other type of breach of trust.

In a nutshell, the document aims to officially define digital assets and the role they will play going forward. The main goal is to ensure that investors are protected at all times and that there are laws and regulations put in place to help those affected by fraudulent activities.

According to the Bureau of Economic Analysis, the United States economy has shrunk once again in the year's second quarter, causing many to believe that a recession could indeed be inevitable. GDP, a broad yet crucial indicator of economic activity, decreased by nearly 1% year on year from April to June. This drop represents a significant symbolic threshold for the most widely used, however unofficial, definition of a recession with regards to two consecutive quarters consisting of negative economic growth.

What is perhaps more interesting though is the notion that individuals are moving away from traditional financial institutions and practices in favor of new digital assets such as cryptocurrencies. After all, many believe that we are on the cusp of entering the Web3 era and that plenty of economic activity which was previously used as a measure of success could soon become obsolete.

How did we get to this point?

The decline in second-quarter GDP activity in 2022 was primarily caused by a drop in inventory levels. In recent quarters, businesses have attempted to resupply stockpiles depleted during the pandemic, and in attempting to adjust for supply chain disruption, they have ended up being overstocked at a time when consumers are experiencing reduced purchasing power due to rising inflation. As a result, inventory investments in the second quarter were considerably lower than in the year's first quarter.

Still, there are some who believe that things are not as bad as they appear. The current administration made the unusual choice of publishing a sort of explainer, arguing that two consecutive quarters of economic contraction do not necessarily constitute a recession. Recently, the White House stated that, in addition to GDP, data on the labor market, personal and corporate spending, production, and different types of income all contribute to defining a recession in this day and age. Others believe that the economy has just slowed down, and that this is not an accurate measure of micro-level statistics such as employment levels, salaries, and overall consumer behavior.

A shift in attitude

As previously mentioned, rising inflation rates and the very real possibility of a looming recession has resulted in a growing number of individuals actively seeking alternative means of securing an income. Apart from those typically involved with mainstream digital assets like cryptocurrencies and NFTs, there are also many people who are utilizing the P2E concept alongside the metaverse to generate passive income, despite the fact that the metaverse in particular has not been around for very long.

Cardanos Vasil hardfork has been postponed yet again after having failed to launch last month. ADAs price has remained more or less the same despite the announcement.

Kevin Hammon, technical manager at Cardano developer Input Output Global, stated that the long-awaited Vasil upgrade would be delayed to allow for adequate testing and to ensure a smooth transition. He also mentioned that it could be a few weeks before the update is ready to go live.

The Vasil hardfork, according to Input Outputs core technology program manager Javier Franco, is Cardanos most important upgrade to date. There are many moving parts and dependencies, he explained, adding that the teams priority is to make sure that everything is done correctly even if it takes longer to launch the update.

Cardanos scaling capabilities will be significantly enhanced as a result of the upgrade. In the past, Input Output claimed that it is the most difficult project Cardano has undertaken ever since its inception. Aside from the codes technical complexity, the update necessitates extensive coordination among ecosystem stakeholders in order to ensure Vasils success.

As the UAE continues to become a hub for all things related to crypto and blockchain, Dubai Police will reportedly be dropping a second round of NFTs due to the fact that digital assets align with their interests in areas such as communication, security and innovation.

The second edition shall be released in October during GITEX, a technology industry meeting platform. By participating through Dubai Polices social media platforms, the public will be able to obtain these digital assets for free.

Moreover, nearly 23 million people worldwide expressed interest in the Dubai Police General Commands first NFT collection, which was released in Q2 2022.

Brigadier Khalid Nasser Al Razooqi, Director of Dubai Polices General Department of Artificial Intelligence, stated that over 7,000 direct messages from participants have been received to date. Participants were contacted to confirm their digital wallet addresses, and those who met the criteria were then entered into a raffle draw.

With this latest development, Dubai Police has become the very first government entity in the country to successfully create its own digital assets, in addition to also being the inaugural police organization in the world to do so.

Ripple has entered into an agreement with FOMO Pay, one of Singapore's leading payment institutions. By leveraging Ripple's ODL (On-Demand Liquidity) technology along with obtaining constant access to liquidity for both Euro and USD, FOMO Pay will be able to vastly improve its treasury payments.

Even before joining forces with Ripple, the company had to rely on ineffective payment methods in which funds could take numerous days to reach destination accounts. Now though, FOMO Pay CEO Louis Liu stated that the company shall be able to comfortably carry out affordable and almost instantaneous settlements.

Moreover, according to Brooks Entwistle, SVP and Managing Director at Ripple, the Asia-Pacific region is brimming with opportunities to address issues related to ineffective payment systems. Therefore, the SVP continued, the partnership with FOMO Pay was a no-brainer.

The company obtained additional licenses from the MAS (Monetary Authority of Singapore) last year in order to broaden the scope of its regulated activities. As of now, FOMO Pay also supports transactions involving digital payment tokens such as CBDCs.

As the ongoing legal battle with the SEC continues, Ripple is actively looking to expand its influence beyond the United States and it has already done so with previous partnerships being established in places like Australia, Malaysia and the Middle East.Ripple has entered into an agreement with FOMO Pay, one of Singapore's leading payment institutions. By leveraging Ripple's ODL (On-Demand Liquidity) technology along with obtaining constant access to liquidity for both Euro and USD, FOMO Pay will be able to vastly improve its treasury payments.

Even before joining forces with Ripple, the company had to rely on ineffective payment methods in which funds could take numerous days to reach destination accounts. Now though, FOMO Pay CEO Louis Liu stated that the company shall be able to comfortably carry out affordable and almost instantaneous settlements.

Moreover, according to Brooks Entwistle, SVP and Managing Director at Ripple, the Asia-Pacific region is brimming with opportunities to address issues related to ineffective payment systems. Therefore, the SVP continued, the partnership with FOMO Pay was a no-brainer.

The company obtained additional licenses from the MAS (Monetary Authority of Singapore) last year in order to broaden the scope of its regulated activities. As of now, FOMO Pay also supports transactions involving digital payment tokens such as CBDCs.

As the ongoing legal battle with the SEC continues, Ripple is actively looking to expand its influence beyond the United States and it has already done so with previous partnerships being established in places like Australia, Malaysia and the Middle East.

As we slowly approach the end of the ongoing bear market, it is worth discussing the sheer amount of mainstream attention that crypto has been getting from a lot of retail and institutional parties. Adding to its already impressive list of accomplishments, Crypto.com has officially added support for Google Pay wallets. Users can now quickly make in-app purchases using their electronic devices and a credit or debit card through the payment application.

Why is this important?

Customers can take advantage of this new feature as long as they have a credit or debit card linked to Google Pay. As such, the users may utilize the Crypto.com app to buy over 250 different cryptocurrencies available at the exchange after entering their Google Pay details.

Crypto.com had originally launched this new feature in May, owing to its fast and easy way to make payments on websites, apps, and in stores. During a time where everything is becoming increasingly digitized, it makes sense as to why Crypto.com would add this feature so that they can simplify and improve the lives of the companys clientele.

Moreover, using this feature is relatively straightforward and uncomplicated, and the users balance in their crypto wallet would also be adjusted as soon as the transaction is complete. They would additionally be able to view their transaction history at any time via the app.

Crypto.coms growing influence

Formula One, UFC, the French football team PSG (Paris Saint-Germain F.C.), the Philadelphia 76ers, the Montreal Canadiens, and the charity organization Water.org all have sponsorship deals with Crypto.com, with the Water.orgs partnership even involving the addition of actor Matt Damon as a brand ambassador.

Last November, the company famously obtained the naming rights to the legendary Staples Center in Los Angeles, USA, subsequently rechristening it as Crypto.com Arena in a $700 million 20-year deal. Earlier this year, Crypto.com also became a sponsor of the 2022 FIFA World Cup in Qatar in March 2022.

Needless to say, Crypto.coms influence is growing at an astonishing rate despite the recent January 2022 hack which reportedly included a theft of stolen Ether totalling $15 million. Nevertheless, the company insisted that no funds were lost and that despite all the sponsorships and partnerships, Crypto.coms main goal will always be to protect the customers and provide the best possible experience for them while simultaneously contributing to the mainstream adoption of crypto.

Teslas recent decision to sell 75% of its Bitcoin (BTC) holdings has largely unfazed crypto industry experts, who say its a fairly common strategy for companies to improve cash flow during economic downturns.

The company revealed on Wednesday that it had sold three quarters of its Bitcoin holdings in Q2 2022, thereby adding a whopping $936 million in fiat currency to Teslas balance sheet.

CEO Elon Musk stated that the sale should not be interpreted as a final judgment on Bitcoin and its worth, clarifying that the decision was made due to liquidity concerns in light of Chinas ongoing COVID-19 lockdowns.

As such, Tesla sold a large portion of its Bitcoin holdings because Elon was unsure when the Covid lockdowns in China would be lifted. Due to this, it was critical for him to maximize the companys cash position before also stating that he is open to increasing Teslas Bitcoin holdings in the future if the situation improves.

Lastly, Elon went out of his way to remind everyone that Teslas ultimate goal is not to keep buying and selling crypto, but rather to focus on accelerating the advent of stable and renewable energy.