Ripple & SEC | Axelar & Microsoft | redefined & Squid | Uniswap & Avalanche | Circle & WaaS | &more
04.07.-17.07.2023
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1 | Ripple, Crypto Industry Score Partial Win in SEC Court Fight Over XRP
Ripple scored a partial victory in its fight with the U.S. Securities and Exchange Commission in a court ruling that brought a modicum of regulatory clarity for the cryptocurrency industry. The sale of Ripple’s XRP tokens on exchanges and through algorithms did not constitute investment contracts, the U.S. District Court of the Southern District of New York ruled Thursday. But the institutional sale of the tokens did violate federal securities laws, the court said. XRP rallied on the news, and crypto exchange Gemini said it might now list the token, but early reads from legal experts suggest the ruling falls short of settling the question of whether and under what circumstances a digital asset meets the definition of a security under U.S. law.
2 | Axelar and Microsoft Partner for a More Integrated and Intelligent Web3
Axelar and Microsoft are pleased to announce a partnership that aims for better integration of Web3 and traditional internet systems. The partnership will explore ways public blockchains can can help secure trust and speed integration of artificial intelligence (AI) in mainstream use cases. The partnership aims to advance blockchain adoption by constructing a data integration and interoperability layer that will enable easier blockchain onramps for everyone, from enterprises to Web3 startups. Axelar has formed similar partnerships with enterprise-level companies, including Mastercard, which recently announced Axelar’s participation in its Start Path program. Like Microsoft, Mastercard is an innovator in data systems that operate at a global scale. Along with Axelar, these firms share a vision of integration between public blockchains and the private systems that already power world commerce and information exchange.
https://axelar.network/blog/microsoft-enterprise-partnership-announcement
3 | redefined and Squid enables cross-chain registration for Web3 Smart Profile
We are excited to announce that redefined and Squid are partnering together to bring cross-chain registration for redefined'sWeb3 identity to various blockchains. By integrating Squid's SDK, users can register their preferred user name or email address as a cross-chain Web3 Smart Profiler from multiple EVM-compatible chains without being on the native blockchain of the smart contract. It is a huge user experience improvement for a seamless Web3 experience as the user can stay on the preferred blockchain and doesn't have to switch the network and has to bridge assets for the registration process. redefined includes the following blockchain next to Arbitrum into its ecosystem: Ethereum, Polygon, Optimism, Moonbeam, Fantom, Avalanche, and BSC. It is a massive next step to make Web3 interactions easy and convenient for everyone, everywhere.
https://twitter.com/redefined__org/status/1679113875361263616?s=20
4 | The Largest DEX Uniswap Is Now Live On Avalanche
In a recent tweet, a decentralized exchange protocol, Uniswap, announced that they now live on the Avalanche network. Avalanche is a Layer 1 blockchain that is Ethereum Virtual Machine compatible, allowing anyone to deploy smart contracts and build decentralized applications.The Uniswap web app now supports the Avalanche Network. This means anyone can swap and provide liquidity using the Uniswap Protocol on the Avalanche Network. The Uniswap interface allows users to trade cryptocurrencies and NFTs on various networks, including Ethereum, Polygon, and Optimism.
https://www.cryptotimes.io/uniswap-is-now-live-on-avalanche/
5 | Circle quietly launches wallet-as-a-service developer platform
Circle, the issuer of the USDC stablecoin USDC, launched a wallet-as-a-service platform for developers. The service allows developers to embed web3 wallets in their apps, while offering a user-friendly design. The wallets can be used with any blockchain to give users easier access to NFTs, cryptocurrencies and other web3 digital assets. "If you are on the more technical side, you can self-serve into the platform and launch apps starting now," Circle CEO Jeremy Allaire said on Twitter.
https://cryptonews.net/news/altcoins/21280487/
6 | Gemini Sues Digital Currency Group and Founder Barry Silbert Alleging 'Fraud'
Crypto trust firm Gemini sued Digital Currency Group on Friday, alleging the industry conglomerate and its founder Barry Silbert committed "fraud" through DCG subsidiary Genesis, which held funds for Gemini tied to the latter company's Earn program. The lawsuit is intended to recover Gemini's funds from DCG, a filing made to the New York County Supreme Court said. Gemini entered into a partnership with Genesis which allowed its customers to earn up to 7.4% in annual percentage yield. Gemini sent its customers' funds to Genesis, which in turn loaned them out to companies like the now-defunct Three Arrows Capital. Like Genesis, CoinDesk is a subsidiary of DCG.
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