As the sun dips below the horizon, it’s time to reflect on another bustling day in the crypto world. Australia is stepping up its fight against crypto scams with impressive force, as ASIC, the country's financial regulator, has dismantled over 600 crypto scams and 7,300 fraudulent investment sites since the beginning of 2023. With scam rates averaging 20 takedowns per day, it's clear that tech challenges and social media scams are showing no signs of slowing down. In a stride towards innovation, Coinbase's CEO has unveiled a $15K AI accelerator grant program aimed at integrating artificial intelligence with cryptocurrency wallets. The initiative will provide $3K each to five startups, potentially revolutionizing the way we interact with crypto assets. Not to be outdone, Tether (USDT) has launched its stablecoin on the Aptos (APT) blockchain, enhancing ecosystem support and digital currency accessibility for users worldwide. However, it's not all smooth sailing in the crypto waters. The Shiba Inu (SHIB) community received an urgent warning about a new scam where fraudsters are impersonating well-known wallet providers like MetaMask and Ledger. This comes amid mixed sentiments about SHIB’s potential; while some predict a major breakout due to a bullish pattern, others remain wary due to ongoing weak performance and low trading volumes. Over in Nigeria, the Federal Inland Revenue Service is preparing a comprehensive bill to regulate cryptocurrency by the end of 2024. This move reflects a broader trend in global efforts to manage digital assets more effectively. In a different effort to expand the crypto ecosystem, HashKey Group has partnered with Telegram mini-game Catizen to push forward developments in Web3 and GameFi, alongside a joint HSK airdrop campaign. Ethereum's co-founder, Vitalik Buterin, made headlines by transferring over $1 million worth of ETH (ETH) to the privacy protocol Railgun, signaling his endorsement for privacy-focused solutions. Meanwhile, Polygon’s transition from MATIC to POL tokens is set for September 4, marking a significant shift for its ecosystem and staking mechanisms. Despite Bitcoin (BTC) being down 21% from its all-time high, a whopping 75% of BTC has remained unmoved over the last six months. This statistic underscores the strong conviction among holders, even as the market grapples with broader volatility. Solana (SOL) faced a rough patch, experiencing a record $39 million in outflows amid a decline in meme coin trading volumes. Federal insights are highly anticipated this week, with investors keenly awaiting the Fed's July meeting minutes and Jerome Powell's speech at the Jackson Hole symposium. On a more localized note, a church group in Colorado has taken an unconventional route to fundraise, tokenizing their $2.5 million chapel on the blockchain. In Europe, Bitwise Asset Management has significantly increased its footprint by acquiring ETC Group, bringing its assets under management to over $4.5 billion. In a tech-savvy twist, Google's Mandiant has absolved WazirX (WRX) of any role in a $230 million hack, putting a major cybersecurity concern to rest. However, Ava Labs' COO wasn’t as fortunate; his X account was hacked and used to disseminate false information. Dogecoin (DOGE) is also navigating turbulent waters, with short-term performance appearing weak despite its price drop to $0.0988. However, some analysts are optimistic about its long-term prospects. Interestingly, Democrats have chosen to sidestep Bitcoin and other cryptocurrencies in their 2024 platform, with Kamala Harris and the party focusing on other priorities. In legal news, Shaquille O'Neal faces a partial win in the Astrals NFT lawsuit, with some allegations dismissed but others still looming. On the banking front, Italy's Banca Sella has launched a Bitcoin trading service on its Hype platform, opening the doors for 1.2 million customers to trade BTC directly. Let's not forget Toncoin (TON), which surged by 7-9% thanks to a GameFi partnership and a Binance listing. However, analysts caution about the rapid rise, predicting it could reach $9.50-$10. Meanwhile, Cardano (ADA) has fallen out of the top 10 cryptocurrencies by market capitalization, now sitting in 11th place due to continuous market decline. Finally, in a bit of good news for users, Ethereum (ETH) gas fees have dropped to five-year lows. This decrease is largely due to increased Layer 2 activity and the recent Dencun upgrade, making transactions cheaper and more efficient. That's all for today’s Crypto Talkies. Stay tuned for more updates as we continue to navigate the dynamic world of cryptocurrency.
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