LianGuai Morning News | Worldcoin issues new NFTs to commemorate token launch


Worldcoin Releases New NFT to Commemorate Token Launch

Worldcoin has released a new NFT on the Zora platform, stating that this NFT collection is a commemorative NFT for the token launch. It is currently free to mint, but users need to pay the gas cost.

This NFT release is limited-time minting and will stop minting in approximately 6 days and 14 hours.


As of the time of writing, according to coinmarketcap data:

BTC recently traded at $29,186, with a daily change of +0.31%;

ETH recently traded at $1,850.74, with a daily change of +0.40%;

BNB recently traded at $239.06, with a daily change of +0.89%;

XRP recently traded at $0.7025, with a daily change of +1.18%;

DOGE recently traded at $0.0742, with a daily change of +0.03%;

ADA recently traded at $0.3054, with a daily change of +0.96%;

MATIC recently traded at $0.7282, with a daily change of +1.07%.

WLD recently traded at $2.1565, with a daily change of -3.19%.


US Government Accountability Office: Cryptocurrency Regulation Needs to Address Lack of Collaboration among Institutions

The Government Accountability Office (GAO), a congressional oversight agency, has released a report completed in June on the regulatory framework for financial blockchain use. This 77-page report was requested by Representatives Maxine Waters and Stephen Lynch, who were respectively serving as Chair of the House Financial Services Committee and senior member before the midterm elections. The report states that cryptocurrency regulation needs to address the lack of collaboration among institutions.

The report points out that cryptocurrency exchange platforms and stablecoins are unregulated products, with the spot market for non-security crypto assets identified as the center of regulatory gaps. It also suggests that by designating federal regulatory agencies to comprehensively supervise the non-security crypto spot market, Congress can mitigate financial stability risks and better ensure user protection on platforms. The report recommends that seven relevant regulatory agencies jointly establish or adjust existing formal coordination mechanisms to collectively identify risks brought by blockchain-related products and services and formulate timely regulatory responses.”

EU Stablecoin Issuers Holding Bank Asset Reserves to Face Additional Regulation According to EBA Draft

According to draft rules released by the European Banking Authority (EBA) on Monday, stablecoin issuers in Europe with significant derivatives or collateralized bond holdings in their reserves will face additional regulations. The new law known as the Markets in Crypto-assets Regulation (MiCA) means that any stablecoin deemed to be excessively linked to the financial system will be subject to additional capital requirements and centralized supervision by the European Union.

The draft states that given the contractual obligation network operated by the issuer, the financial difficulties of ART (Asset Reference Token) or EMT (Electronic Monetary Token) issuers may greatly increase the likelihood of other cryptocurrency issuers or other financial institutions facing difficulties. The document refers to two types of stablecoins defined in MiCA, whose value is linked to fiat currency or other assets. The draft further states that in order to address the increased risks associated with significant ART or EMT, the issuers of these tokens must comply with additional obligations, with their regulatory part or all delegated to the EBA.

The draft will seek industry opinions in the coming weeks.

US lawmakers to discuss two digital asset regulatory bills on July 26

US lawmakers will hold a meeting on July 26 to discuss two bills related to digital assets and stablecoins. The House Financial Services Committee and the House Agriculture Committee will review and revise the “21st Century Financial Innovation and Technology Act”. The bill will provide guidance on determining whether digital assets are securities, registration requirements for exchanges and brokers, and the establishment of a joint advisory committee. The latest version of the bill was released on July 20.

Lawmakers will also discuss a bill proposed by Patrick McHenry, Chairman of the House Financial Services Committee, in February. The bill outlines regulatory proposals for stablecoins and stablecoin issuers, and if approved, the bill will be submitted to the US House of Representatives.

Blockchain Applications

Connext and Alchemix launch cross-chain token standard to reduce losses from hacker attacks

Connext, a cross-chain bridging protocol, announced a partnership with Alchemix to launch a new token standard to reduce losses from cross-chain bridge hacker attacks. According to the announcement, the new “xERC-20” standard allows token issuers to maintain an official bridging list and control the number of tokens each bridge can mint. The announcement stated that in addition to Connext, DeFi platform Alchemix Finance will deploy the xERC-20 token standard.

Connext stated in the announcement that the new standard will prevent poorly secured or overly centralized bridges from being attacked, as token issuers can now flexibly update their preferences for supported bridges over time. Cross-chain bridges will no longer prioritize establishing liquidity monopolies or attempting to dominate market share by locking in token issuers (or in some cases, entire chains), but will be forced to continually focus on their security and service quality to avoid being delisted.

Co-founder of Chainlink: Combining public blockchains with tokenization of RWA is the next development direction for the industry

Sergey Nazarov, co-founder of Chainlink, stated that as more Wall Street companies adopt blockchain technology, the value of the blockchain industry is expected to rise significantly. Nazarov believes that the next key stage of development will be finding ways to combine public blockchains with Real World Assets (RWA) tokenization. By connecting these areas, the blockchain industry is expected to expand significantly, bringing tremendous opportunities for growth and investment.

Research Report: Neuromorphic Computing Could Completely Change Blockchain and Artificial Intelligence

Researchers from the Dresden University of Technology in Germany recently published a groundbreaking study that showcases a new material design for neuromorphic computing, a technology that could have a revolutionary impact on blockchain and artificial intelligence. The team developed a pattern recognition method using a technique called “reservoir computing,” which utilizes magnetic oscillators to perform algorithmic functions almost instantaneously. The researchers not only developed and tested new storage materials, but also demonstrated the potential of neuromorphic computing to work on standard CMOS chips, which could disrupt blockchain and artificial intelligence. The main advantage of neuromorphic computing is its extremely low power consumption compared to classical and quantum computing. This means that neuromorphic computers can significantly reduce time and energy costs when operating on blockchain and mining new blocks on existing blockchains.


Fundstrat: Bitcoin Could Rise to $140,000 to $180,000 Before the 2024 Halving

US market strategy research firm Fundstrat released its Bitcoin price predictions for the coming months. Analysts believe that the Bitcoin halving event scheduled for around April 2024, along with the launch of the Bitwise Bitcoin ETF, could trigger a significant increase in BTC’s price. The halving event reduces the block rewards for miners on the Bitcoin blockchain by half, thereby enhancing Bitcoin’s scarcity. Fundstrat states that the launch of the Bitcoin ETF would create a daily demand of $125 million, implying that the implied equilibrium price needs to rise to match the daily supply and demand. The equilibrium analysis suggests that Bitcoin’s price could reach $140,000 to $180,000 before the halving in April 2024.

SBF Agrees to Gag Order, Will Be Prohibited from Discussing Matters That Could Interfere with the Trial

According to Bloomberg, FTX founder SBF has agreed to a gag order that would largely prevent him from publicly discussing his own case. The order still requires approval from US District Judge Lewis A. Kaplan, who has summoned SBF to appear in the New York federal court on Wednesday. US prosecutors previously accused SBF of providing private documents of his ex-girlfriend to the media in an effort to discredit her as a potential witness in a criminal fraud trial.

Earlier reports by LianGuai revealed that, based on a proposed order filed on Monday in Manhattan, SBF and other parties would be prohibited from discussing any matters that could interfere with a fair trial, including statements about the credibility of witnesses, information not admissible in court proceedings, and any information that could potentially influence public opinion about the case.

US Federal Judge Considers Banning Parties and Witnesses in FTX Case from Speaking to the Media

Court documents filed on Monday show that a federal judge in the United States is considering banning the “parties and witnesses” in the FTX case from speaking to the media. This comes after the US Department of Justice accused FTX founder Sam Bankman-Fried of leaking private documents of one of his conspirators to the media. Previously, Sam Bankman-Fried publicly shared the private diary of former Alameda CEO Caroline Ellison.

The proposed text states that all parties to this case, their attorneys, and agents are prohibited from publicly disseminating or discussing any information related to this case that could interfere with a fair trial. This includes statements regarding the identity, testimony, or credibility of potential witnesses, information not deemed admissible in the trial, and statements intended to influence public opinion on the merits of this case.

Wyoming, USA, is Seeking an Executive Director to Lead Stablecoin Efforts

The Wyoming Stablecoin Committee is seeking an executive director to lead the state’s “stable token” efforts. The committee was established in March and its mission is to issue “stable tokens” that can be redeemed for one US dollar. According to the government website, the funds for issuing the tokens will be deposited into a trust account that will be “dedicated to investing in US Treasury securities”.

According to the job posting, the executive director will implement the stablecoin program, including tasks such as regulatory analysis, accounting, and marketing. The post states that the ideal candidate will bring their existing network and expertise in the blockchain industry, as well as be highly familiar with Wyoming’s legislative processes.

Reddit Community Token Trading Volume Plummets, Price Drops by 20%

The Moon community token of the Reddit r/CryptoCurrency subreddit has over 6.5 million members and saw a price surge after announced its listing, rising from $0.09 on July 16 to nearly $0.58 on July 19. However, after the hype subsided, its trading volume sharply declined from over $1 million on July 23 to around $200,000 as of now. The price is currently at $0.35. It is reported that Reddit MOONS are ERC-20 tokens launched by Reddit administrators on the Arbitrum Nova chain in 2020 and are part of Reddit’s community points program, which can be stored in Reddit’s Ethereum digital wallet Vault.

Important Economic Developments

“Super Central Bank Week” Approaches, US July Rate Hike Could Be the “Final Act”

The “Super Central Bank Week” is coming this week. The Federal Reserve, the European Central Bank, and the Bank of Japan are about to take turns announcing their latest interest rate decisions, which will affect the sensitive nerves of global investors. Analysts believe that the focus of this Federal Reserve monetary policy meeting will not be on the magnitude of the rate hike, but on the monetary policy statement and the signals that Powell may release. The CIO of UBS Wealth Management published an institutional view stating that they expect the Federal Reserve to raise rates by 25 basis points and believe that one of the strongest tightening cycles in Federal Reserve history has a chance to end after this week’s rate hike meeting. (Jinshi Data APP)

LianGuai Encyclopedia

Cold Storage

This term refers to the offline storage of Bitcoin. When the private key of Bitcoin is created and stored in a secure offline environment, cold storage is achieved. Cold storage is important for any Bitcoin holder. Online computers are vulnerable to hackers and should not be used to store large amounts of Bitcoin.

Disclaimer: As a blockchain information platform, the articles published by LianGuai are for informational reference only and should not be taken as actual investment advice. Please establish the correct investment concept and increase risk awareness.

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