Plus, bad news if you were on the waiting list for Coinbase's Lend product.
Today’s Top Crypto News Stories
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Crypto News
Bitcoin's Recovery Begins 😬
Bitcoin's price has started to recover after Monday's bruising trading session. The world's biggest cryptocurrency fell to $40,468 in a sharp pullback early on Tuesday — but has since returned above $43,000. It comes amid growing concerns that Evergrande, one of China's biggest property developers, is going to default on interest payments. The latest.
Coinbase Quietly Drops Lend Product 💸
In an embarrassing climbdown, Coinbase has announced that it is abandoning plans to launch a new lending product for digital assets. The trading platform had been threatened with legal action by the U.S. Securities and Exchange Commission if it did. Coinbase's U-turn was quietly revealed through an updated blog post that was first published in June. What it said.
Do Americans Want Crypto Payments? 🇺🇸
A new poll suggests roughly one in three voters in swing states across America would vote "yes" to a ballot measure that would make cryptocurrencies a legal payment method. Some 28% of voters in Arizona backed such a move, rising to 37% in Texas and Wisconsin. Most people are against such an idea because they don't know how crypto works. The results.
NFT News
A-Lister Behind NFT Account Revealed! 🤩
Snoop Dogg has claimed that he is the person running a popular Twitter account that focuses on non-fungible tokens. Cozomo de’ Medici has cultivated a loyal following of about 30,000 followers since last month. The U.S. rapper hopes that his real-life celebrity status "may bring many welcomed eyeballs" to the world of crypto collectibles. Find out more here.
Flipside Crypto Compares Alien Clocks to Ecumenopolis 🎨
Check out CoinMarketCap Academy’s latest analysis from Flipside Crypto into the Art Blocks NFT collections.
DeFi News
Solend Reaches $100M in Deposits 💸
Solend, a lending platform built on top of Solana, hit $100 million in deposits this week. The protocol works similar to Compound and Aave, although there is currently no option for liquidity mining. Read more about Solend here.
MISO DeFi Protocol Suffers Supply Chain Attack 😲
The funds have been recovered, according to SushiSwap on Twitter, while a postmortem of the attacks describes how the interface code has been updated, as well as future steps to prevent these kinds of hacks.
Funding News
BitClout Creator Launches Blockchain With $200M in Funding 🤑
That’s right, the anonymous creator of the highly contentious BitClout project has revealed himself as Nader Al-Naji — while also revealing a $200 million investment from firms like a16z and Sequoia in “decentralized social” blockchain DeSo.
Sorare Raises $680 Million in Round Led by SoftBank 💵
Sorare, a blockchain-based fantasy soccer game, raised $680 million in a funding round led by SoftBank. NonFungible.com currently rates Sorare as the largest NFT platform by sales volume,
Tracer Protocol Raises $3.75M in Governance Token Sale 💰
Tracer Protocol, which enables leveraged perpetual pools of long and short positions, has sold 50 million of their TRC tokens for 3.75 million DAI. Read more about how Tracer Protocol works.
