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Singapore-based crypto fantasy GameFi project Kandle has raised $1.7 million in a seed funding round led by Saama. After Elon's Twitter rebranding to 'X', a number of new meme coins have launched with the X token rallying up 4,300% overnight. Britain's data regulator said on Tuesday it will examine Worldcoin, a project by OpenAI CEO Sam Altman where users provide their iris scans in exchange for a digital identification and free cryptocurrency. With this crypto daily roundup, you can jumpstart your day with the latest updates on cryptocurrencies like Bitcoin, Ethereum, and more.
Bitcoin failed to clear the $30,000 hurdle as of Wednesday morning, while Ethereum was trading lower, falling about a per cent but managed to hold $1,850-level. Other popular altcoins like Dogecoin (DOGE), Litecoin (LTC), and Solana (SOL) saw major dips across the board. The global cryptocurrency market cap was trading significantly lower, falling down to $1.18 trillion-mark as it declined two per cent in the last 24 hours.
After Elon's Twitter rebranding to 'X', a number of new meme coins have launched with the X token rallying up 4,300% overnight. Musk's moon-shot move has once again disrupted the market, nudging cryptocurrency valuations to their zenith. Yet, as Musk busied himself with revising Twitter's online aesthetic, creators of the rapid-launch 'X' meme token remained undeterred.
The Namibian Government officially signed a law to regulate Virtual Asset Service Providers operating in the country last week, reversing its original 2017 decision to ban cryptocurrency exchanges, reported by Cointelegraph.
On July 21, the VASP-regulating law was inserted into the Gazette of the Republic of Namibia after previously being approved in Namibia's National Assembly on July 6 and signed by President Hage Geingob on July 14.
The bill called the Namibia Virtual Assets Act 2023 aims to assign a regulatory authority to supervise crypto exchanges in the country. It is the first law laying out how the country should regulate cryptocurrency-related activities.
A key congressional committee is set to vote this week on several bills that would develop a regulatory framework for cryptocurrencies, a milestone for Capitol Hill in its efforts to codify federal oversight for the digital asset industry.
According to Reuters, the crypto Industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies.
Singapore-based crypto fantasy GameFi project Kandle has raised $1.7 million in a seed funding round led by Saama. PointOne Capital, Cloud Capital, Good Capital, Founder's Room, Seeders Fund, and CoinDCX CEO Sumit Gupta also participated in the round.
GameFi is a fusion of blockchain technology, gaming and decentralised finance, and allows players to earn cryptocurrency and NFTs by playing games on the network. GameFi also allows the transfer of gaming items from the virtual world, enabling trade on NFT marketplaces and crypto exchanges.
Britain's data regulator said on Tuesday it will examine Worldcoin, a project by OpenAI CEO Sam Altman where users provide their iris scans in exchange for a digital identification and free cryptocurrency.
"We note the launch of WorldCoin in the UK and will be making further enquiries," a spokesperson for the Information Commissioner's Office told Reuters.
Worldcoin launched on Monday with two million users from its trial, with the crypto project scaling up eyeball-scanning operations in 20 countries.
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