State Street offering crypto services / Rep. Beyer (D-VA) intros new crypto bill / Fresh Funding / Malaysia banned Binance

Plus: SOL jumped 7% on first day of Lollapalooza music festival

Inside.com Part of   Network July 30, 2021

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The global crypto market cap is $1.55T 0.64%▲ with a 24-hour market volume of $76.64B 4.63%▲. Bitcoin's dominance is currently 47.99% 0.85%▼. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $39,097.65 1.06% ▼ 2 Ethereum ETH $2,349.89 1.74% ▲ 3 Binance Coin BNB $312.10 0.26% ▼ 4 Cardano ADA $1.27 0.26% ▼ 5 XRP XRP $0.7375 4.60% ▲ *Prices as of 3:00 p.m. ET.

State Street announced that it would provide digital asset services for private fund clients. The announcement was supported by a partnership with crypto data provider Lukka. More: State Street previously led Lukka’s Series C funding round in Dec. 2020.  Lukka’s data technology is already being implemented by companies like S&P Global, CME Group, and News Corp. State Street had announced the launch of a crypto and digital asset division within its bank last month.

Rep. Don Beyer (D-Va.) introduced draft legislation for crypto consumer protection. The “Digital Assets Market Structure and Investor Protection Act” would protect investors and provide regulatory clarity on digital assets, according to a release from Beyer's office. More: The bill is set to provide “legal certainty” of the regulatory status for the top 90% of digital assets. Digital assets and digital securities will be added to the statutory definition of “monetary instruments” under the Bank Secrecy Act (BSA). Beyer hopes to create statutory definitions for digital assets that provide the SEC and CFTC with authority over digital assets.

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▲ TOP GAINERS # Name Price 24h % 1 Flow FLOW $22.53 24.92% ▲ 2 Chainlink LINK $21.60 15.20% ▲ 3 Neo NEO $37.64 9.73% ▲ 4 Ontology ONT $0.7824 7.97% ▲ 5 Stacks STX $1.20 7.77% ▲ ▼  TOP LOSERS  # Name Price 24h % 1 Terra LUNA $10.06 7.07%▼ 2 Amp AMP $0.0708 6.25%▼ 3 Huobi Token HT $10.21 4.37%▼ 4 Quant QNT $128.77 4.18%▼ 5 Theta THETA $5.77 3.80%▼ *Limited to cryptocurrencies in the Top 100. Prices as of 3:00 p.m. ET.

🍋Fresh Funding🍋 Livepeer, Decentralized Streaming: $20M ⮕ The Series B funding round was led by DCG with participation from Northzone, Coinbase Ventures, CoinFund, 6th Man Ventures, and Animal Ventures. More: Livepeer is a decentralized video transcoding platform built on the Ethereum blockchain. Its network can encode all of the real-time video streaming of Twitch, Facebook, and YouTube combined. Livepeer previously raised $8M in an institutional round led by Northzone back in 2019.

The Securities Commission of Malaysia issued an enforcement action against Binance. The action will disable Binance services in Malaysia starting Aug. 8. More: The action was officially issued against Binance Holdings, Binance Digital, Binance UAB, and Binance Asia Services. The resulting ban of Binance in Malaysia was due to its continued operations in violation of Malaysia’s Capital Markets and Services Act of 2007. A press release from the securities commission stated that Binance continuously failed to register as a Recognized Market Operator with the commission.

QUICK HITS This fintech startup explains how startup employees left behind $4.9 billion last year year by not exercising their stock options. * The University of Pennsylvania confirmed that it is holding part of a $5M donation in bitcoin (BTC).  Solana (SOL) jumped 7% after the first day of its Lollapalooza music festival sponsorship. Adult NFT project TABOO launched the first exclusive supermodel NFT in a partnership with three-time Playmate of the Year Khloe Terae. An investor letter at ParaFi Capital announced that Santiago Roel Santos would be leaving the crypto investment firm.  Wealthfront will let its 400,000 clients invest in bitcoin (BTC) through Grayscale’s GBTC. The total number of crypto users globally spiked 100% in the first half of 2021, reaching 221 million in June. Consumers have fallen in love with Affirm's flexible payment options — find out how businesses are leveraging that for an +85% bump in AOV. * * This is sponsored content.

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Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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