#progress

“State of Crypto 2024” report by the venture capital a16z Crypto reveals all-time highs in crypto activity, improvements to blockchain networks, and progress in regulatory discussions.

Famous lawyer John Deaton again predicted the growth of the value of XRP and noted that the company will continue to actively develop the project, as it is financially interested in the progress of the token.

Narendra Modi speaks in favor of an integrated approach to new technologies. As tech progress accelerates, he advises the global community to establish wide-reaching rules and a collective strategy. "At the same time, the rules, regulations, and framework around it should not belong to one country or a group of countries. So not only crypto, but all emerging technologies need a global framework and regulations," highlighted India's Premier.

Bitdeer Technologies Group, based in Singapore, has successfully set up an avant-garde bitcoin mining facility in Gedu, Bhutan – a nation recently recognized for its crypto investments. As the facility approaches the end of its trial run, many of its mining units are already in operation. Reflecting on the progress, Bitdeer's CEO, Linghui Kong remarked: "We made significant strides on both the operational and infrastructure fronts during July."

Robby Yung, the CEO of Animoca Brands, has revealed that due to a shortage of capital, investors in the realm of Web3 games have become increasingly demanding when it comes to new projects. They now expect to witness substantial progress at the early stages of development.

Coinbase, the cryptocurrency exchange, has joined forces with Peoples Trust Company. This collaboration facilitates access to the Interac e-Transfers system, streamlining deposit and withdrawal processes for its Canadian user base. What's more, they're gifting users a one-month free gateway into the Coinbase One subscription. This means no trade-related fees, amplified staking profits, and swift client support. "Canada is well positioned to be a global leader in the cryptoeconomy thanks to the high levels of crypto awareness, a passionate local tech ecosystem, and the progress towards a strong regulatory framework," voiced Nana Murugesan, the International Development VP at Coinbase.

US stablecoin legislation negotiations have stalled, with House Financial Services Chair Patrick McHenry blaming the White House. McHenry noted that the parties were closer than ever to a bipartisan deal after 15 months of talks. However, Rep. Maxine Waters criticized the current stablecoin bill as "deeply problematic," voicing concerns about state regulators approving stablecoin issuances without Federal Reserve input. She also feared companies like Amazon and Facebook issuing their own digital currencies.