Hey Waivly Crew! 🌊 Binance has partnered with TikTok creator Khaby Lame to boost Web3 awareness and adoption. Grayscale Investments has sued the U.S. SEC after the agency rejected its Spot Bitcoin ETF application.
Want more from us at Waivly? Join Waivly+, the premium Waivly membership with exclusive content, resources, giveaways, events, and so much more, all blended together into one super low-cost and quick to join subscription 🎉 Head over to our website and hit “Subscribe” to get onboard!
Binance names Khaby Lame as latest brand ambassador
Crypto exchange Binance has partnered with Khaby Lame, the most-followed creator on TikTok, to increase Web3 adoption.
Khaby rose to fame on TikTok, gaining over 145 million followers with his videos sarcastically mocking overly complicated “life hack” videos without saying a word while doing the famous “Khaby move”.
The TikTok star will use his signature style to create content that clears up common misconceptions around Web3. According to James Rothwell, Binance Global Vice President of Marketing, Khaby will bring relevance and relatability as the exchange scales Web3.
“With so much nuance around Web3 and misinformation in the world, it was a perfect match to have Khaby on board to help debunk some of the myths around this space,” he added.
In a statement, Khaby shared he was already curious about Web3 for some time, so he jumped at the opportunity to partner with Binance because it perfectly aligned with what he usually does: making complicated stuff easy and fun for everyone.
Along with creating bite-sized crypto education, Khaby will launch exclusive NFT collections on Binance’s NFT marketplace focused on enhancing the experience for his fans.
Niantic rolls out new AR social media platform
The developers of the popular AR game, Pokémon Go, have created a new social media platform for its games called Campfire. The social media platform was first announced back in May, and it is now slowly rolling out globally.
The initial rollout of Campfire will be available to a select group of Pokémon Go players. Niantic’s new AR social media platform will allow its users to chat with their friends as well as connect with other like-minded users. The platform will also enable users to organize events and activities.
Campfire includes a group and private messaging tool for users’ in-game friends. It will have a map that showcases information about nearby in-game events and activities that users can participate in and meet other users.
Besides being a messaging platform for Niantic users, Campfire allows its users to get a glimpse at what the company’s games have to offer. Users in the U.S. will gain access to the social platform in the coming days.
The Waves
💰 FTX to acquire struggling BlockFi for $25 million
🤔 EU reaches agreement on extensive crypto regulation
👀 Bitcoin expert sees 'generational buying opportunity' ahead
🖼️ Facebook begins testing NFTs with select creators in the US
Crypto Special
Grayscale files lawsuit against U.S. SEC
Grayscale Investments has launched a lawsuit against the U.S. Securities and Exchange Commission after its application to convert its Bitcoin Trust into a spot-based Bitcoin ETF was rejected.
The company announced its senior legal strategist, Donald B. Verrilli Jr, filed a petition on Wednesday for review with the United States Court of Appeals for the District of Columbia Circuit.
Verrilli said the SEC is “failing to apply consistent treatment to similar investment vehicles, and is therefore acting arbitrarily and capriciously in violation of the Administrative Procedure Act and Securities Exchange Act of 1934.”
According to a filing from the securities regulator on Wednesday, the application was rejected “to protect investors and the public interest” because the proposal failed to demonstrate how it is “designed to prevent fraudulent and manipulative acts and practices.”
Grayscale first applied to convert its Bitcoin Trust in October and made a renewed push earlier this year after the SEC accepted the Teucrium futures crypto instrument under rules that would govern spot bitcoin ETFs.
JPMorgan says crypto’s deleveraging cycle is coming to an end
The current phase of deleveraging in cryptocurrencies is at an advanced state and may not last much longer, according to a JPMorgan analyst.
On Wednesday, JPMorgan strategist Nikolaos Panigirtzoglou stated all the crypto companies failing over the past month shouldn’t come as a surprise given massive price declines among tokens, and entities using higher leverage are the most vulnerable.
The liquidity crunch at hedge fund Three Arrows Capital “is a manifestation of this deleveraging process,” he said.
However, Panigirtzoglou believes that the recent deleveraging in the crypto market may be coming to an end. "Indicators like our Net Leverage metric suggest that deleveraging is already well advanced."
The note said one reason for the market bottoming out is due to the fact several crypto entities with stronger balance sheets are stepping in to help “contain the contagion.”
Panigirtzoglou also sees the healthy pace of venture capital funding in the crypto space as a good sign. According to JPMorgan, crypto firms raised around $5 billion in VC funding in both May and June.
Own and secure your crypto with Ledger
If you’re into cryptocurrency and own crypto assets, you need a secure place to store your coins and tokens. You probably already know that you shouldn’t store your crypto on an exchange due to potential hacks, not being solely in control of your crypto’s private keys, and for other reasons,a hardware wallet is the way to go and the best option to protect your private keys, therefore, you should make the move to a Ledger wallet.
Ledger wallets are an extremely secure and premium way to secure, manage, and grow your crypto assets with their Bluetooth-enabled hardware wallets, and easy-to-use app which lets you manage your portfolio on the go. They let you manage multiple assets, buy, sell, grow, and exchange crypto, gain financial freedom by you being in full control and ownership of your private keys, and so much more.
The wallets are really simple to setup, and to move your crypto over to, so there’s no reason not to secure your assets and take control of your cryptocurrency now and get yourself a Ledger device. You can manage 1800+ coins and tokens directly in the Ledger Live app once you’ve got your device up and running, so you’ll always have your entire portfolio covered.
Share The Wave
That wraps up today's newsletter. Thank you for reading through, and we hope you liked today's content. Know someone else who would enjoy this newsletter just as much as you do? Send them to our website, and get them onboard the Waivly Crew and involved in The Wave. Get more from us on Twitter, Instagram, and LinkedIn.
Want more from us at Waivly? Join Waivly+, the premium Waivly membership with exclusive content, resources, giveaways, events, and so much more, all blended together into one super low-cost and quick to join subscription 🎉 Head over to our website and hit “Subscribe” to get onboard!
*Waivly+ is a premium Waivly membership. Join at anytime by clicking “Subscribe” on the Waivly website, and cancel anytime by heading to your account on Waivly.
*Waivly is an official affiliate of Ledger. See our Ledger Affiliate notice here.
Create your profile
Only paid subscribers can comment on this post
Check your email
For your security, we need to re-authenticate you.
Click the link we sent to , or click here to sign in.