Trading Desk Market Update: 8/1

August 1, 2022


Notable news includes: Honduras launched “Bitcoin Valley” to promote the use of bitcoin in its Santa Lucia town; the FCA unveiled stronger crypto ad restrictions; Croatia’s largest supermarket chain, Konzum, indicated crypto payments continue to rise; Ethereum option open interest flipped bitcoin for the first time; Aave DAO approved the creation of the GHO stablecoin; Huobi received approval to begin operating exchange services in Australia; KuCoin launched a fractionalized blue-chip NFT offering; CoinFLEX announced a series of employee layoffs; Vauld was granted a three-month moratorium extension to further explore restructuring options; Bitget introduced a $200m investor protection fund aiming to increase user confidence; FTX.US revealed plans to launch stock options trading; Charles Schwab launched new crypto-themed equity ETF; Tiffany unveiled a partnership with Cryptopunks to release 250 physical Cryptopunk necklaces and corresponding NFTs that are mintable to punk holders for 30 ETH; Web3 foundation has now exceeded 400 project grants on Polkadot; Ledger is reportedly exploring another $100m capital raise; Debt DAO raised a $3.5m seed round led by Dragonfly Capital; blockchain security firm Halborn warned of a new phishing campaign targeting MetaMask users; Elon Musk countersued Twitter; and, a UK judge concluded that Craig Wright advanced false evidence in his defamatory case against Peter McCormack, and thus he awarded Mr. Wright only a single pound despite McCormack’s statements causing “serious harm.”

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