Market Watch | Bitcoin | $11,748 | 7 day: +2% | | Ethereum | $401 | 7 day: +4.1% | | All crypto | $363b | 7 day: +3.1% | | Bitcoin dominance | 59.6% | 7 day: -1.2% | Prices as of 3:30 p.m. ET
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 Screenshot of a deleted Tron community post to Medium.com A new investigation reveals wide-ranging implications of Tron (TRX) Founder Justin Sun's contentious purchase of Ned Scott and Dan Larimer's Steemit (STEEM). Millionaires, billionaires, coups d'état, CZ, a $4.6m meal with Warren Buffett, 100% annualized return rates... ...and the story of how Steemit lost $1.8b of market capitalization. In today's issue of Inside Cryptocurrency Premium, I again dig deep into the history of Dan Larimer, Changpeng Zhao, and Justin Sun, pointing to shuttered projects, lawsuits, and a Medium post that could conceivably stand-in for some of today's DeFi yield farming claims. Join for $0 (free!) for 14 days to read on. ABOUT JUSTIN SUN  | | | |
 In today's poll, we want to know whether you trust Justin Sun of Tron (TRX). Click an answer below and see the live results as the poll data arrives! We'll report on the results later this week.
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The U.K. Financial Conduct Authority has granted Archax its second registered cryptoasset firm license. Its first and only prior approval was Gemini. The U.K.'s SEC: - On January 10, 2021, cryptoasset firms that fail to comply with the FCA's requirements must cease trading.
- Registration is intended to combat laundering and counter-terrorist financing.
- Only two firms have registered. New applications are due imminently; priority review deadlines have already passed.
- The FCA regulates Archax has as a SME Growth Market, authorized to operate a Multilateral Trading Facility, one digital securities marketplace in London, cash and cryptocurrency custodial services, and brokerage operations.
Financial Conduct Authority 
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 A message from SLACK A chat with Slack's CSO Please join Slack on August 19th for a live webinar with our Chief Security Officer, Larkin Ryder as she will discuss Slack’s security posture, cover some of our recent security feature releases and give a sneak peek into our product roadmap. Enterprise-grade security is built into every aspect of how users collaborate and get work done in Slack. And we’re continuing to invest in security to help keep your data protected.
What you’ll learn: - Slack’s security posture
- Compliance certifications, including FedRAMP Moderate
- Data protection capabilities - Slack Enterprise Key Management (EKM) and support for data loss prevention (DLP)
- Mobile security innovations
- App security
- Other roadmap features desired by security-conscious or regulated organizations
Register Now
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 Russian media reports that Expobank has issued the country's first crypto-backed loan. - Waves (WAVES) collateralized this personal loan to Mikhail Uspensky.
- Waves Co-Founder Sasha Ivanov confirmed the loan.
- The bank did not disclose the loan amount nor terms.
- Vladimir Putin signed a law last week that takes effect in January, classifying decentralized cryptocurrencies as property, which should be reported for tax purposes, and cannot be used to pay for goods nor services.
- Nevertheless, counsel to Expobank Tanzila Yandieva says the loan is "precedent-setting for both the legal and banking communities."
- The bank claims that Waves is "other property" and is "not a payment token," despite its daily price fluctuations and its whitepaper explaining, "WAVES will allow payment of network transaction fees."
- The tokens are in custody at the Mikhail Uspensky's notary.
- U.K.-based Barclays Bank sold Expobank in 2019 to a local Russian banker, Igor Kim.
CoinTelegraph
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 A message from WIX Create a Website You're Proud Of Contrary to popular belief, you don't actually have to be a coder to create your very own webpage. The Wix website builder is an intuitive platform that lets literally anyone create a customizable website that is both unique and professional. Bring your ideas to life with the help of Wix. Get Started Here!
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Even DeFi's relatively small $6.4b Total Value Locked (TVL) is likely overstated. Researchers are investigating the nascent industry's numbers. Could be less than half: - DappRadar claims that just 25% of the alleged $3.4b growth during the last month is attributable to new money entering decentralized finance (DeFi).
- The founder of Encode Club estimates DeFi TVL of $3.5b, compared to DeFiPulse's $6.7b.
- A prior issue of Inside Cryptocurrency provides a brief primer on the DeFi industry.
Decrypt
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Quick Hits: - Michael West, public relations lead for Orchid and co-founder of WestComms, responded to yesterday's story about Dave Portnoy's promotion of Orchid (OXT). He clarifies that Orchid does not sponsor and has no affiliation with Dave Portnoy. He also says that Orchid reduced the number of steps required to utilize Orchid's private internet browsing to one in-app activation.
- Binance (BNB) integrates with Band Protocol (BAND) to "bolster scalable decentralized applications." Importantly, the integration means that the BNB token can now be marketed as a DeFi play.
- Binance-owned WazirX announces yet another DeFi project: Matic Network (MATIC).
- Researchers continue tracking Chainlink's public relations activities, noting how it fostered the "Link Marines" community, rebranded to benefit from booming DeFi interest, and pitched simple API integrations in exchange for press releases in order to build credibility.
- Axios reports on an "investor revolt" and legal dispute at distributed file storage project Filecoin.
- The Zcash Foundation is appointing new Community Advisory Panel members to oversee its $36m Zcash (ZEC) fund.
- Vidyard and Hubspot have partnered to create an in-depth guide with proven video scripts and email templates for selling remotely.*
*This is sponsored content.
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 |  | Written and curated by wide-eyed bitcoin watcher since $1, Aaron Wise. Streaming headline junkie, Associated Press fanboy, eye-strained news terminal watcher, 2017 founder of Cryptocurrency Newsfeed. Temporarily based in Florida while awaiting the construction of cryptopia. |  | | Editor | Edited by Eduardo Garcia in New York. Eduardo is a graduate of the Columbia Journalism School M.A. Science program and writes regularly for the New York Times Climate Fwd: newsletter. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
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