Grayscale Sui Trust Open to Eligible Accredited Investors | Cryptocurrency Trends

1. Mainstream Exchange Trends:

• As part of its participation in the 7th season of the BNB Chain’s Most Valuable Builder (MVB) Program, Binance Labs has announced an investment in Blum, a trading mini-app on Telegram that focuses on memecoins and new tokens with leverage.
• Binance has completed the integration of Radiant Capital (RDNT) on the Base network, with deposits and withdrawals now open.

2. Cryptocurrency Trends:

• Lido Alliance introduced Drop, a liquid staking protocol designed for Interchain assets.
• Grayscale announced on social media that the Grayscale Sui Trust is now open to eligible accredited investors seeking exposure to SUI.
• Citigroup analysts predict that the Federal Reserve will cut interest rates by 25 basis points in September, followed by 50 basis point cuts in both November and December.
• Dune, a platform specializing in on-chain analytics, has integrated over 50 parachains from the Polkadot ecosystem, positioning itself as a comprehensive data hub for Polkadot.
• The US Consumer Price Index (CPI) increased by 2.5% year-over-year in August before seasonal adjustment, marking its fifth consecutive month of cooling and dropping to its lowest level since February 2021, slightly below the market estimate for 2.6%.
• The US 30-year fixed mortgage rate has slid to its lowest level since February 2023, decreasing by 14 basis points to 6.29%.
• Catizen has officially announced that it now has over 36 million registered users, including 2.26 million Telegram Premium users and 2.6 million on-chain players.
• Bank of Japan Governor Kazuo Ueda has submitted a document to a government panel indicating that the central bank may continue to raise interest rates if the economy and inflation meet expectations.

3. Financing Trends:

• Cudis, a smart device manufacturer in the Solana ecosystem, announces the completion of a $5 million financing round, led by Draper Associates.
• Hyperbridge, a blockchain interoperability protocol, raises $2.5 million in a seed funding round led by the Web3 Foundation in partnership with Scytale Digital.
• Huma, a Payment Financing (PayFi) network, raises $38 million in funding. Distributed Global leads the equity round.

4. Regulatory Trends:

• The UK government has introduced The Property Bill in Parliament on Wednesday to clarify crypto's legal status. For the first time in British history, digital holdings, including cryptocurrencies such as Bitcoin and non-fungible tokens, are considered personal property under English and Welsh property law.
• New data from the Federal Trade Commission shows a massive increase in the amount of money consumers report losing to scammers involving Bitcoin ATM machines. Since 2020, this loss has increased nearly tenfold.