👮 Things are bad for SBF...

Good morning!

We have a juicy edition today, as Coinbase has finally been granted permission to offer Bitcoin and Ethereum Futures in the US, and Stellar has acquired a stake in MoneyGram.

However, things aren't going so well for SBF, who was sent back to prison last week. His lawyers are now formally requesting additional medication, as he is thought to be suffering from ADHD and depression.

Let's dive in. 👇

Markets

Coinbase Granted Permission To Offer Bitcoin And Ethereum Futures In The US (2 minute read)
Coinbase, the popular crypto exchange, has received the green light from the US National Futures Association (NFA) to introduce Bitcoin and Ethereum futures trading within the United States. The NFA, a regulatory body overseeing Commodities and Futures Trading, has officially granted Coinbase the authority, marking a significant milestone as the first crypto exchange to achieve this feat on American soil. In the words of Coinbase, this accomplishment stands as a "watershed moment" for the budding crypto industry. With this approval secured, eligible US customers can now access regulated derivatives products through Coinbase Financial Markets, seamlessly complementing their existing spot market offerings. This move operates under the vigilant supervision of both the CFTC and the NFA.

Stellar dips into treasury to buy minority stake in MoneyGram (2 minute read)
The Stellar Development Foundation (SDF) has joined the ranks of minority investors in the vibrant realm of payments, partnering with MoneyGram International. In a recent August 15th announcement by Denelle Dixon, the CEO and Executive Director of SDF, the decision to fund MoneyGram was hailed as a no-brainer. The investment, as Dixon further explained in an accompanying blog post, emerged from SDF's own treasure trove of cash reserves, originally earmarked to bolster the foundation's operations. This creative move steered clear of Stellar's Enterprise Fund, typically reserved for backing startups and sprightly ventures.

Trading Volumes for Newly Launched SEI Token Topped $1B in One Day (3 minute read)
With all the excitement of a grand premiere, the Sei Network's layer-1 took its debut bow as the Mainnet beta phase kicked off, accompanied by the glitzy arrival of its SEI token. The biggest names in the exchange universe—think Binance, Bybit, Huobi, and Kraken—couldn't resist the temptation and promptly welcomed the token into their fold on August 15th. Swiftly setting the stage ablaze, the SEI token garnered a staggering trading volume of $1.14 billion on its inaugural day, with frontrunners Upbit and Binance leading the charge from the colorful streets of South Korea. Meanwhile, over at Binance's trading rings, SEI didn't just make an entrance; it waltzed in with panache, securing a spot among the top-traded tokens, boasting a cool $240 million worth of trades.

Tech

Binance shuts down fiat-to-crypto payment platform (2 minute read)
crypto powerhouse Binance is bidding adieu to its fiat-to-crypto payment platform, Binance Connect, as reported recently. This move comes after over a year of operations since its initial launch as "Bifinity" in March 2022, and the curtains will officially close on August 16. In the spirit of decluttering, a Binance spokesperson shared with CoinDesk that the decision was part of their regular product review process, channeling resources toward strategic endeavors. Originally donning the cape of being the official fiat-to-crypto bridge between Binance and blockchain-based domains, Binance Connect boldly supported a whopping 50+ cryptocurrencies alongside trusty partners like Visa and Mastercard.

7 ways to safely store your private keys (3 minute read)
Navigating the realm of digital treasures, private keys take center stage as the illustrious guardians of your prized cryptocurrencies and confidential data. The backstage pass to your crypto universe, these keys demand a secure abode. Fear not, for this article is your guide, leading you through seven clever methods to keep those keys safe and secure.

Misc

SBF might suffer from depression and ADHD, needs meds in jail (2 minute read)
Legal representatives are asserting that Sam Bankman-Fried (SBF), requires access to his prescribed medications to manage his depression and attention deficit hyperactivity disorder (ADHD) while at the Brooklyn detention facility. According to a Reuters report, SBF's legal team has formally requested the provision of Emsam skin patches for depression and a limited supply of Adderall for his ADHD condition during his stay. The attorneys conveyed in a letter addressed to U.S. District Judge Lewis Kaplan that these medications have been integral to SBF's treatment for a duration of five and three years, respectively. Their contention centers around the potential consequences of not having access to these medications, suggesting that the absence of proper treatment could significantly hamper SBF's capacity to actively contribute to his own defense.

Crypto Mining Gets Its Own Lobbying Voice in Washington (2 minute read)
In a bid to harmonize their voice in the intricate dance of U.S. policy, crypto miners are kickstarting the Digital Energy Council, a new player in the lobbying arena, as regulators and Congress take center stage in the unfolding drama of crypto regulation. The council, comprised of members from the crypto mining realm, is donning its advocacy hat for policies that embrace energy responsibility, grid fortitude, American competitiveness, and national security. This ensemble is venturing forth into the realm of policy orchestration, even as they find themselves facing President Joe Biden's White House. The President's call for a 30% excise tax on mining operations has set the stage for some spirited negotiations.

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