The global crypto market cap is $2.29T 0.71%▼ with a 24-hour market volume of $133.08B 5.55%▼. Bitcoin's dominance is currently 44.42% 0.34%▼. CURRENT PRICES BY MARKET CAP | # | Name | Price | 24h % | | 1 | Bitcoin BTC | $53,899.41 | 1.53% ▼ | | 2 | Ethereum ETH | $3,590.44 | 0.05% ▲ | | 3 | Binance Coin BNB | $439.33 | 0.82%▲ | | 4 | Cardano ADA | $2.28 | 2.11%▲ | | 5 | XRP XRP | $1.07 | 1.81% ▼ | Source: CoinMarketCap, 3:00 EST
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An investigation into Tether found the USDT provider has loaned billions to companies using bitcoin (BTC) as collateral. One of the loan arrangements was a $1B loan to Celsius Network. More: - Bloomberg confirmed that several billion dollars worth of USDT were in the form of short-term loans to large Chinese firms.
- Tether called Bloomberg’s investigation a “one-act play” that the crypto industry has seen “many times before.”
- Celsius held a $30M funding round back in June 2020, where Tether was the lead investor.
- Celsius has been under regulatory scrutiny recently, with Kentucky’s securities regulator recently issuing a cease-and-desist order for Celcius’s interest-bearing accounts.
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 TOP ETHEREUM NFT COLLECTIONS | # | Name | 24h Volume | 24h % | | 1 | Axie Infinity | $21.11M | 5.47% ▲ | | 2 | GOOP TROOP | $6.27M | 57017% ▲ | | 3 | CrypToadz | $3.7M | 61.73%▼ | | 4 | SuperRare | $3.44M | 89.41% ▲ | | 5 | Art Blocks | $3.36M | 20.48% ▲ | Source: DappRadar, 3:00 pm EST
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 South Korea’s finance minister announced that the country's proposed crypto tax rules will be enforced in 2022. SK’s controversial new rules will require holders to pay 20% tax on crypto income over 2.5M won. More: - NFTs were notably not characterized as virtual assets under the tax provisions and will be exempt from taxation.
- The Financial Supervisory Service (FSS) governor said that NFT taxation could be considered in consultation to close the regulatory loophole.
- Several major tech firms in SK, including Naver, Kakao, and Samsung, have entered the blockchain gaming market.
- The finance minister said SK's crypto sector has grown to be as big as the country's stock market.
- SK has the fifth-largest gaming market globally, but NFT gaming adoption has been slower than in the U.S.
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 A message from VOICE Introducing Voice: an NFT platform for emerging creators The NFT market surged to new highs in the Q2 of 2021, hitting $2.5 billion in sales so far this year. Yet even during its busiest time, there were fewer than 50k active participants - meaning there’s a long way to go before the technology hits the mainstream. (source) That’s because hurdles are high for creators looking to get involved. A steep learning curve and complex onboarding have kept the technological benefits of NFTs to a relatively small audience - until now. Introducing Voice, a carbon neutral NFT platform built specifically for emerging creators. The platform is environmentally friendly and has a clear path to becoming decentralized and portable. Voice is easy to use for both creators, who can mint for free, and collectors, who can use credit cards to purchase. The platform is being built with real-time feedback from both established curators and emerging creators. Voice believes that NFTs can change how we all share, collect and exchange ideas. Start minting today for free at Voice.com
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 🍋 Fresh Funding 🍋 Easy Crypto, Exchange: $11.75M ⮕ The Series A funding round was led by Nuance Connected Capital and participated in by KiwiSaver, Pathfinder, Icehouse Ventures, Seven Peaks Ventures, and others. More: - Easy Crypto is a New Zealand-based crypto exchange providing exchange services to over 150,000 users in New Zealand, Australia, South Africa, and Brazil.
- The Series A funding round set a record for the largest Series A in NZ.
- Support for crypto exchanges in NZ is beginning to regain momentum after Cryptopia fell victim to a $16M hack in 2019 and a former employee pleaded guilty to crypto theft.
Stader Labs, Staking: $4M ⮕ The SAFT seed funding round was led by Pantera Capital with participation from Coinbase Ventures, True Ventures, Jump Capital, Solana Foundation, and others. More: - Stader Labs is an India-based startup offering a curated list of staking providers for retail users.
- The fresh funding will be used to hire new team members and add support for additional blockchains.
- Stader’s test version currently offers support for Terra (LUNA). However, it plans on launching Solana (SOL), Ethereum (ETH), Polkadot (DOT), Polygon (MATIC), and Near (NEAR) support in the upcoming months.
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▲ TOP GAINERS | # | Name | Price | 24h % | | 1 | Fantom FTM | $1.87 | 29.50% ▲ | | 2 | Bitcoin SV BSV | $177.29 | 15.63% ▲ | | 3 | Terra LUNA | $46.56 | 7.07% ▲ | | 4 | Stellar XLM | $0.3488 | 6.79% ▲ | | 5 | Polkadot DOT | $34.14 | 5.84% ▲ | ▼ TOP LOSERS | # | Name | Price | 24h % | | 1 | Axie Infinity AXS | $125.98 | 9.46%▼ | | 2 | Tezos XTZ | $7.67 | 7.03%▼ | | 3 | Amp AMP | $0.04777 | 6.69%▼ | | 4 | ICON ICX | $2.12 | 6.69%▼ | | 5 | Ravencoin RVN | $0.1123 | 6.45%▼ | Source: CoinMarketCap, 3:00 EST
*Limited to cryptocurrencies in the Top 100
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 MoneyGram announced a partnership with the Stellar Development Foundation. The partnership will enable crypto payouts in local currencies through USDC settlements. More: - MoneyGram will use Circle's USDC for this service.
- United Texas Bank will act as Circle's and MoneyGram’s settlement bank.
- MoneyGram CEO Alex Holmes stated that he is bullish on stablecoins for cross-border payments and settlements.
- MoneyGram was previously partnered with Ripple (XRP); however, the partnership ended in March due to Ripple’s ongoing legal battle with the SEC.
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Germany’s Auto1 FT launched the first blockchain-based car financing program. The new program will use smart contracts to handle all documents, files, and processes related to financing for the entirety of a vehicle’s lifecycle. More: - Every vehicle financed through Auto1 FT will have its own smart contract on the Ethereum (ETH) blockchain.
- All contracts related to a vehicle can be distilled down to a single agreement by using smart contracts.
- Auto1 FT previously made crypto history in June when it became the first automotive company in Germany to conduct a security token offering.
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- Chainalysis announced a long-term partnership with Dapper Labs to monitor NFT transactions and assure regulatory compliance.
- Nansen, a blockchain analytics firm based in Singapore, added support for the Fantom (FAN) blockchain.
- a16z issued a proposal to the Senate Banking Committee calling for feedback on clarifying laws around digital assets and decentralized technology.
- The SEC approved a “Bitcoin Revolution” ETF that tracks companies holding a significant amount of BTC on their balance sheet.
- José-Oriol Bosch Par, the CEO of Mexican stock exchange BMV, stated that BMV is looking into adding crypto-based financial instruments in the near future.
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 |  | Griffin McShane is a New York transplant currently living in Brooklyn, NY. He is a graduate of Providence College, where he studied both computer science and business, and the University of Maine School of Law, where he earned his JD. Beyond his work at Inside, Griffin has written articles for CoinDesk and is a member of the International Association of Privacy Professionals (IAPP). |  | | 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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