Welcome to tonight’s Crypto Talkies—your nightly roundup of all the crypto news you need to know before winding down. Today has been nothing short of a whirlwind in the digital currency realm, so let’s dive right in. Former President Donald Trump has thrown his hat into the crypto ring with the upcoming launch of World Liberty Financial, his new cryptocurrency platform. Slated to debut on September 16, Trump’s platform aims to be a modern alternative to traditional banking solutions, setting the stage for a new wave of financial innovation. Ethereum (ETH) is facing a rough patch, grappling with a steep 35% drop since July and trading in the $2,329 to $2,360 range. With negative macro trends and high-volume sales piling on the pressure, the cryptocurrency is experiencing some significant struggles. Elon Musk has stirred the pot once again with a subtle nod to Dogecoin (DOGE), leading to a modest spike in its price. However, despite the increase, market reactions and social activity have largely remained muted, leaving DOGE in a bit of a limbo. On the development side, Binance Labs has made a strategic investment in OpenEden, a platform focused on tokenizing real-world assets. Although the exact amount remains undisclosed, this move signals a robust interest in bringing tangible assets into the blockchain ecosystem. Sky, formerly MakerDAO, is considering dropping Wrapped Bitcoin (WBTC) from its SparkLend platform due to custody concerns and links to Justin Sun—a move that could impact $200 million worth of DeFi loans. Kraken has also made headlines, demanding a jury trial in its ongoing legal battle with the SEC. They are challenging the regulator’s allegations, setting the stage for a contentious showdown. Bitcoin (BTC) continues to capture attention as its mining difficulty reaches record highs. Despite these increasing challenges, companies like Marathon Digital are ramping up their holdings, illustrating their unwavering commitment. Amidst all this, Bitcoin’s price has remained relatively stable around $58,500, showing a slight rebound by 2.28%, though market fear persists. In other news, ZKsync has launched a decentralized on-chain governance system, featuring smart contracts and multiple governance bodies to ensure balanced control and security. The UK High Court has delivered a landmark ruling, declaring Tether (USDT) as legally recognized property, providing much-needed clarity in cryptocurrency regulation. ParaFi Capital has taken a significant step by partnering with Securitize to tokenize its $1.2 billion portfolio using the Avalanche (AVAX) blockchain, opening new doors for investors. Starknet (STRK) has successfully passed “SNIP 18,” allowing users with over 20,000 STRK tokens to stake starting in Q4. This initiative aims to boost community participation and enhance decentralization. MicroStrategy continues its aggressive Bitcoin accumulation, purchasing an additional 18,300 BTC for $1.11 billion through stock sales. This latest buy brings their total holdings to a staggering 244,800 BTC. Polygon (MATIC) has enjoyed a 15% boost following its upgrade to POL and strong support from Binance, lifting market sentiment considerably. XRP has also seen a surge in value after Grayscale announced the launch of an XRP Trust, igniting positive market sentiment and hinting at future growth prospects. However, not all is rosy. Consumer advocacy group Consumers' Research has criticized Tether for a lack of transparency, urging caution until a full audit confirms the company's claims. In a related move, Tether has hired former PayPal executive Jesse Spiro as Head of Government Affairs to navigate the regulatory landscape. The SEC has amended its complaint against Binance, following a court ruling that denied Kraken’s motion to dismiss similar allegations. This move includes clarifications on the classification of "crypto asset securities." In another significant development, the market for tokenized real-world assets (RWAs) has surged to over $12 billion, driven by U.S. Treasuries. Despite a drop in trading volume, interest remains robust from both web3 enthusiasts and traditional finance firms. The SEC’s settlement with eToro has effectively restricted crypto trading on the platform, limiting U.S. users to Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH). Solana (SOL) is stepping up its app security with World ID integration via Wormhole, boosting Worldcoin (WLD) by 10% and enabling real-person verification for developers. Sam Bankman-Fried, former CEO of FTX, is appealing his fraud conviction, seeking a new trial after being sentenced to 25 years. Coinbase’s newly launched wrapped Bitcoin, cbBTC, has seen rapid adoption, reaching a $100 million market cap within 24 hours despite criticisms from Tron founder Justin Sun. Lastly, Cardano (ADA) has been on a bullish run, surging over 10% and stabilizing above $0.30, signaling a strong upward trajectory. That wraps up today's Crypto Talkies! Stay tuned for more updates, and sleep well informed.
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