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Welcome to the Crypto Scroll. web3, defi, and crypto news in just one quick scroll. We do the homework so you don't have to.

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gm Scrollers,

For those that watched the U.S. debate last night…. wtf was that!?

Not even a single mention about crypto regulation or adoption 😭

But that’s ok, because web3 startups are reeling in some big 💰, new services are being offered by institutions globally every month, and more wild bullish price targets are being predicted.

To all the bears and people who don’t scroll: You’re NGMI 😊

KEEP ON SCROLLING 🖤

• U.S.-based predictions market platform Kalshi cleared to offer congressional predictions with victory against CFTC (CD)

• Friend.tech shuts down after user drop off, as founders walking away with $44M+ (DL)

• Former Alameda CEO & FTX connection Caroline Ellison asks for no prison sentence in FTX case (CBR)

• State Street and Galaxy Digital new crypto ETFs have begun trading (TB)

• Binance.US selects Fireblocks as wallet infrastructure partner (CN)

• Harris campaign criticized for ignoring crypto in policy statement (CS)

• Institutions sold $726M of crypto last week, the highest since March (TD)

Market Update following U.S. Presidential Debate 👀

• A16Z announces its plans for a 2nd cohort of 21 startups in its crypto startup accelerator program, CSX, with $500k backing for each (CP)

• PIN AI brings in $10M from A16Z CSX, Hack VC, Stanford Blockchain Builders Fund and many angels (DT)

• Coinbase Venutres, NFX, and Progression co-lead investment into DRiP’s $8M round for creator NFT platform on Solana (NG)

• Nytro Labs receives $8M backing for web3 gaming studio led by SevenX Ventures (NG)

• T1 Protocol raises $2.5M pre-seed round from A16Z CSX, PNYX Ventures, and other strategics (X)

• Ammalgam, a decentralized lending exchange, raises $2.5M from Lightspeed Faction, Framework Ventures, and more (PRN)

• Lyvely, a social-fi company out of Dubai, announces M2 as newest investor alongside Cypher Capital (E)

• Web3 and crypto venture capital gap is ironic - no centralized hub (CD)

• Tether invested $100M in Adecoagro (MR)

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• Kamala Harris private donors are urging consideration of firing FTC and SEC chair in potential pro-crypto move (NYP)

• Italian Prime Minister wants to transform EU crypto regulation with ESMA via a unified regulator (CCN)

• Multiple regulators in UAE sign partnership to bolster digital asset hub (NB)

• Amina, a Swiss crypto bank, shoots for Australian VASP license (CN)

• Australian crypto investors are sitting on the sidelines until clearer regulation passes (CT)

• Indonesian crypto exchange, Indodax, hit by exploit resulting in $22M loss in various digital assets (YF)

• Crypto scammers utilize deep fakes of Apple CEO Tim Cook during Apple’s recent livestream event (CT)

• Dehli Capitals cricket franchise has X account compromised by hackers promoting Solana token scam (CSP)

• FBI reports Americans lost $5.6B from crypto fraud in 2023, a 45% increase from 2022 (AP)

• Concerns of Bitcoin ETF security skyrockets after FBI warning of North Korean hackers (CT)

• Blockchain Intelligence group partners with web3 enabler (TIP)

• Ether.Fi partners with Scroll ZKP for new crypto cash-back debit card (X)

• PayPal and Venmo integrate with Ethereum Naming Service for crypto payments (TB)

• Steven Narayoff, an early ETH investor + advisor, sues legal firm for $100M over crypto extortion case handling (CT)

• Vitalik responds to rumors of recent token sales - reaffirms commitment to building Ethereum (NB)

• Ethereum founder Buterin dumps another 190 ETH (~ $9.75M) (CSP)

• Ethena’s USDe outflows $1B in last week (CD)

• Base’s ‘on-chain summer’ showcases the importance of marketing as an L2, achieving $5M in mint revenue (CD)

• Ethereum Foundation makes stunning 450 ETH transaction (CS)

• Japan’s MetaPlanet purchases $2M more BTC, bringing their total holdings to $26M (TB)

• $725B asset manager Bernstein makes $90k bitcoin prediction if Trump is elected (WG)

• StakeWithUS acquired for 7 figures by Nansen to expand crypto staking services (NG)

• Michael Saylor predicts $13M BTC price

• Japan’s largest power company Tepco is mining Bitcoin using renewables (BM)

• 20 rules to follow to improve risk management in crypto (X)

• The discussion around impact of memecoins on the crypto industry stemming from Pump.fun’s success (TB)

• Jack Mallers explains bitcoin’s superiority to gold (X)

• Guide to Israel’s web3 ecosystem: 100 startups with $4.5B invested (F)

• Crypto market recap August 2024 (RR)

• Would it be smarter to buy MSTR over BTC (CG)

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