This article comes to you with the generous support of Betplay.io. Discover the excitement and rewards that await you at Betplay.io with a 100% welcome bonus and 10% weekly cashback!Crypto Market UpdateTable of ContentsMarket Movements and TradingMt. Gox Moves $2.19B in BitcoinBitcoin and Ether ETFs See OutflowsCorporate Financials and ProfitsTether Reports Record $5.2B ProfitProduct Launches and InnovationsGrayscale's Bitcoin Mini Trust LaunchesFidelity Launches Bitcoin ETP in LondonWorldcoin Expands ID Verification in EuropeOndo Finance Launches USDY StablecoinElixir Introduces Synthetic Dollar deUSDAave V3.1 Launches Across Major EVM NetworksEclipse Mainnet LaunchesCoinbase Enhances Wallet AppSecurity and ExploitsTerra Blockchain Exploit Drops ASTRO PriceLiminal Denies Link to WazirX HackPartnerships and CollaborationsLayerZero and Animoca Brands PartnerIndustry and Regulatory UpdatesWomen in Crypto Earn More Than MenDaylight Raises $9M for Decentralized EnergyIcebreaker Secures $5M for Blockchain NetworkingMarket Trends and Community NewsTrump Launches Bitcoin-Themed SneakersNansen CEO Launches Memecoin IQCessations and Legal IssuesStarkNet-Based ZKX Protocol Ceases OperationsDraftKings Closes NFT OperationsMt. Gox Moves $2.19B in BitcoinOn July 30, Mt. Gox transferred $2.19 billion worth of Bitcoin (BTC) to a new address, following earlier distributions to creditors. Despite Bitcoin’s price drop initially, the Crypto Fear and Greed Index indicates "Greed," and the price has now been back to above $66,000 ahead of Fed's interest rate decision. The US national debt hitting $35 trillion could boost Bitcoin as a safe-haven asset. Traders eye $72,000 as a crucial resistance level, with lower highs suggesting sellers dominate. Bitcoin and Ether ETFs See OutflowsIt was reported that Bitcoin and Ether ETFs saw some outflows due to waning enthusiasm from Trump's speech. Specifically, the Spot Ethereum ETFs, which began trading on July 23, have been suffering significant outflows but recorded a net inflow of $33.7 million on July 30, 2024, while Spot Bitcoin ETFs saw a $18.3M net outflow. Ethereum faced consecutive monthly losses for the first time since August 2023, coinciding with the introduction of new Ethereum ETFs. In July, Ethereum saw a decline of approximately 3.5%, following a similar drop in June. Tether Reports Record $5.2B ProfitTether reported a record $5.2 billion profit for the first half of 2024, driven by its investments in U.S. Treasuries amid post-COVID inflation. The stablecoin issuer also achieved a $1.3 billion net operating profit in Q2, benefiting from a robust revenue base and growing market dominance with nearly $115 billion in USDT circulation.Grayscale's Bitcoin Mini Trust LaunchesOn July 31, 2024, Grayscale's Bitcoin Mini Trust began trading following SEC approval, featuring an ultra-low 0.15% fee. This spin-off from Grayscale's GBTC aims to attract investors with lower costs and is traded on NYSE Arca. Coinbase Custody Trust Company is the digital asset custodian. Despite recent reports of a $1.7 billion outflow from Bitcoin ETFs, most BTC from Grayscale's GBTC were transferred to the new Mini Trust, resulting in a net inflow of 113 BTC worth $7.48 million.Fidelity Launches Bitcoin ETP in LondonFidelity International launched its bitcoin-backed ETP on the London Stock Exchange for professional investors. Known as the Fidelity Physical Bitcoin ETP (ticker: FBTC), it carries an Ongoing Charges Figure of 0.35%. This move follows regulatory approval for similar products in the UK, allowing investors a secure, regulated way to access digital assets like bitcoin.Worldcoin Expands ID Verification in EuropeWorldcoin launched its World ID verification system in Austria on July 31, 2024, expanding access to its eyeball-scanning orbs for identity verification across Europe. This initiative aims to streamline identity verification processes using innovative technology, enhancing user accessibility and security within the region.Ondo Finance Launches USDY StablecoinOndo Finance has launched USDY, a yield-bearing stablecoin backed by US Treasurys, on the Aptos blockchain for non-US residents. This initiative aims to leverage stablecoins as significant buyers of US government debt amid global de-dollarization trends. Despite benefits for underserved communities, regulatory hurdles in the US remain. The move underscores growing interest in stablecoins bolstered by traditional financial assets, potentially shaping future market dynamics.Elixir Introduces Synthetic Dollar deUSDElixir has launched deUSD, a new synthetic dollar backed by stETH, aiming to rival Ethena Labs' USDe. It offers decentralized stability and liquidity incentives, securing $1 billion in liquidity and over $300 million in total value locked through its Apothecary program. The project emphasizes non-custodial decentralization, contrasting with USDe's reliance on centralized frameworks.Aave V3.1 Launches Across Major EVM NetworksAave V3.1 has launched across major EVM networks, marking a significant upgrade for the DeFi protocol. With $21B locked in liquidity and $109M in community treasury, Aave enhances security and operational efficiency. AAVE price has risen 14% in a week, supported by $8.7B in borrowed assets and a growing user base of 163k members.Eclipse Mainnet LaunchesEclipse, an Ethereum Layer 2 network using the Solana Virtual Machine (SVM), has launched its mainnet. It promises high transaction throughput via Solana tech but currently lacks full decentralization and key security features. Eclipse aims to enhance scalability and user experience while integrating Ethereum's ecosystem.Coinbase Enhances Wallet AppCoinbase enhances its wallet app for mobile and web, integrating onchain perpetuals and supporting projects like Doodles. They've eliminated fees for transfers to Base, their Layer 2 network, aiming to boost transaction speed and affordability. The update also includes Apple Pay integration for seamless minting, reflecting a stronger crypto-native focus.Terra Blockchain Exploit Drops ASTRO PriceA $4 million exploit on the Terra blockchain caused Astroport's ASTRO token price to drop by over 53% to $0.0218. The blockchain was halted at block height 11430400 for an emergency patch. The SEC launched an information page for Terraform Labs' investors, with Do Hyeong Kwon mandated to transfer $204 million to the bankruptcy estateLiminal Denies Link to WazirX HackLiminal, a crypto custody service, refutes claims linking it to the $230 million hack of WazirX. They assert the compromised wallet originated externally. The incident underscores security challenges in the crypto sector despite advancements in custodial solutions.LayerZero and Animoca Brands PartnerLayerZero Labs and Animoca Brands have forged a strategic partnership to integrate LayerZero's omnichain interoperability protocol into Animoca's Web3 gaming ecosystem. This collaboration aims to enhance user experiences across digital content and gaming, leveraging LayerZero's OFT standard. They also plan community events to educate and engage users on interoperability benefits.Women in Crypto Earn More Than MenWomen in the crypto industry are earning approximately 15% more than men, with a median salary of $172,000 compared to $150,000 for men, according to a survey conducted by Pantera Research Lab,. This trend is attributed to women's longer average tenure and higher representation in senior roles. Despite these gains, challenges like limited leadership representation persist, indicating ongoing gender equity efforts are crucial.Daylight Raises $9M for Decentralized EnergyDaylight, a DePIN project focusing on decentralized energy distribution, raised $9 million in a Series A round led by A16z Crypto. Co-founded by Jason Badeaux, the project aims to optimize energy distribution using a decentralized protocol on the Base blockchain. This funding round brings Daylight's total raised to $13 million, supporting its expansion into energy markets across several US states.Icebreaker Secures $5M for Blockchain NetworkingCoinbase and Google veterans have secured $5 million to develop Icebreaker, described as the "blockchain's LinkedIn." Co-founded by Dan Stone and Jack Dillé, the platform aims to offer a professional networking environment with verifiable identities. This funding round, led by CoinFund, will support Icebreaker in building a platform that prioritizes quality connections over engagement metrics, targeting recruiters and professionals seeking authentic opportunities in blockchain and tech industries.Trump Launches Bitcoin-Themed SneakersDonald Trump, following his keynote speech at Bitcoin 2024, has launched limited edition Bitcoin-themed sneakers. Promoted on social media, these sneakers are available for purchase with cryptocurrencies and are touted as numbered collectibles. Trump's involvement in crypto extends to NFT sales and pledges regarding Bitcoin if elected, influencing both political and digital asset spheres.Nansen CEO Launches Memecoin IQAlex Svanevik, CEO of Nansen, launched the memecoin IQ on MakeNowMeme, achieving a $6 million market cap within a day. The Solana-based token, priced at $0.0061 USD and 0.00003370 SOL, surged 7,000% to reach this milestone, powered by community engagement on social media platforms like X.StarkNet-Based ZKX Protocol Ceases OperationsStarkNet-based ZKX protocol ceased operations on July 30 due to economic challenges. Despite backing from Crypto.com and other investors, low user engagement and revenue, coupled with declining token value, led to its closure. All markets were delisted, positions closed, highlighting struggles despite initial investor support. Top Altcoin Gainers and LosersGainers: BEAM (onbeam) BEAM (+6.58%) Mog Coin MOG (+6.12%) Kaspa KAS (+5.41%) Losers:BOOK OF MEME BOME (-7.52%) Fantom FTM (-6.44%) JasmyCoin JASMY (-4.73%) NFT Market MapDraftKings Closes NFT OperationsDraftKings abruptly closes its NFT operations amid a legal battle, citing compliance issues with US securities laws. The move impacts their Rainmakers fantasy sports game and NFT marketplace, with players offered buyouts. This decision follows a class action lawsuit alleging DraftKings' NFTs are securities, reflecting broader regulatory challenges in the crypto space.This article has been refined and enhanced by ChatGPT.