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The DeFi lender Seamless Protocol launched an altcoin-specific lending market on Coinbase’s Layer 2 network Base. The Base-based altcoins DEGEN and SEAM are the first two tokens supported on the platform.
Quick Take The NFT marketplace Magic Eden launched a new platform for Bitcoin Runes. Magic Eden’s Runes Platform, in beta, lets users swap for BTC and buy Runes and Ordinals with their Magic Eden wallet.
Web3 infrastructure provider Ankr has launched the public testnet for its AI-focused Layer 1 blockchain, Neura. Ankr Network’s ANKR token will act as Neura’s native cryptocurrency, with a mainnet launch anticipated later this year.
cLabs, the core developer of the Celo blockchain, has proposed developing its Layer 2 chain using the OP Stack. After evaluating various scaling technologies over an eight-month period, the firm chose OP Stack for development.
Global crypto investment products witnessed a further $206 million in net outflows last week.Expectations the Federal Reserve is likely to keep interest rates at higher levels for longer fueled the outflows, according to CoinShares.
- 22:33XRP breaks through 3 dollarsThe market shows that XRP has broken through 3 dollars, currently quoted at 3.046 dollars, with a 24-hour increase of 14.2%.
- 22:32Eight American blockchain lobbying groups announce the establishment of the North American Blockchain Association (NABA)Blockchain associations from eight U.S. states have announced the establishment of the North American Blockchain Association (NABA), an organization aimed at providing cohesive cryptocurrency policy recommendations to the federal government. Members include the Texas Blockchain Council, Alabama Blockchain Coalition, California Blockchain Advocacy Coalition, Florida Blockchain Business Association, Ohio Blockchain Committee, Pennsylvania Blockchain Coalition, Virginia Blockchain Committee and Washington Technology Industry Association's Cascadia Blockchain Council. Lee Bratcher, President of the Texas Blockchain Council and a member of NABA's board stated that each state association is independent and retains agency rights but can act in concert with other states when necessary.
- 22:30U.S. regulators impose a fine of 80 million dollars on Block and CashAccording to the official announcement, in a coordinated enforcement action by financial regulators in 48 states of the United States, Block, Inc. will pay a fine of $80 million and take corrective measures to rectify violations of the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) laws that protect the financial system from illegal use. It is reported that more than 50 million consumers use Block's mobile payment service Cash App for consumption, remittance, storage and investment. In an interstate settlement agreement signed this week, Block agreed to pay fines to state government agencies, hire independent consultants to review the comprehensiveness and effectiveness of its BSA/AML program, and submit reports to each state within nine months. After submitting the report, Block will have 12 months to correct any deficiencies found in the review.