Innovation continued to thrive in the industry, with bad actors taking their moves to new lows. Regulatory actions remained tight, with rising institutional interest.
The headlines:
- Franklin Templeton filed for a new ETF;
- Wrapped Bitcoins may soon become history;
- Scammers found (new) ways to milk their victims;
- Tyler Winklevoss supports ZCash;
- Plus, tokenization comes to religion (more on that later);
- And much more!
As always, these are your decentralized diaries!
Franklin Templeton Filed a New ETF Application
Investment behemoth Franklin Templeton continued its foray into crypto with a new filing. According to an August 16 filing, the Franklin Crypto Index ETF will keep up with the CF Institutional Digital Asset Index.
The (proposed) ETF will also invest in other cryptocurrencies in the same measure as the watched ETF. Additionally, the new ETF may invest in other digital assets.
The Celsius Post-Bankruptcy IPO Hit a Few Snags
The plans for shuttered crypto lender Celsius to return from the ashes as Ionic Digital (in 2025) may have hit a roadblock. According to an August 8 press release, Ionic Digital CEO Matt Prusak announced his intention to exit the company.
However, Ionic Digital indicated their 2025 IPO plans are still in play.
There Was Some Wrapped Bitcoin Drama
Divisions in the crypto community became apparent after some chaos emerged involving MakerDAO suspending its Wrapped Bitcoin (wBTC) borrow feature. MakerDAO initiated the suspension after an announcement from crypto custodian BitGO to spin off the wBTC into a joint venture involving relatively unknown crypto firm BiT Global and TRON Blockchain founder Justin Sun.
Following these concerns, the crypto community has been up in arms. In related news, Base blockchain creator Jesse Pollak hinted at a cbBTC token in an X/Twitter post.
Similarly, Coinbase is (reportedly) planning to create a tokenized money market fund.
Charles Hoskinson Introduced a $1 Million Bounty
Following the launch of the Lace Paper Wallet (by Input Output Global (IOG)), Cardano blockchain co-founder Charles Hoskinson offered $1 million to anyone who could hack it successfully. In an August 17 video on X/Twitter, Hoskinson revealed that the offering will remain open until the end of the year or when someone hacks the Lace paper Wallet.
Crypto Scams Continued
Bad actors continued to find ways to steal crypto tokens in various ways and via several means. The Carroll County, Georgia Sheriff’s Office warned about a scam.
In this case, scammers pose as representatives of banks or other institutions and ask victims to withdraw their accounts and send the proceeds as cash or crypto. On the other hand, the Clay County Prosecutor’s Office in Liberty, Missouri, is taking a proactive approach to the issue.
The Prosecutor’s Office is organizing a training program for law enforcement officers to detect and track cryptocurrency crimes and criminals. Additionally, community members can register online and attend the training (virtually).
Similarly, an August 17 report by cyber intelligence firm Check Point Research identified a new malware tool that targets Microsoft Windows machines to steal crypto tokens.
The tool is an iteration of Phemedrone Stealer, which debuted earlier in the year. This version, however, is more advanced and crypto-focused. Furthermore, “Styx Stealer” is available for rent at $75 monthly or $350 for a lifetime license.
Proton Email’s Creator Launched a Bitcoin Wallet
Keeping true to its reputation, privacy-focused Proton launched its Bitcoin wallet. The new solution is (directly) integrated into Proton’s email ecosystem and has self-custody features. Additionally, the wallet has (improved) security features such as 2FA and Proton Sentinel, an ecosystem program that alerts users about (potential) cybersecurity issues.
Access to the wallet is (currently) limited to Proton Lifetime and Vision users.
The State of Wisconsin Investment Board (SWIB) Increased its BlackRock Bitcoin ETF Exposure
The institutional adoption conversation continued with the SWIB increasing its BlackRock’s iShares Bitcoin Trust (IBIT) holdings. According to an August 14 SEC filing, the board owns 2,898,051 shares valued at $98.9 million (as of June 30, 2024).
Furthermore, the board revealed zero holdings from its Grayscale Bitcoin Trust (GBTC) shares.
Tyler Winklevoss Revealed His Support for ZCash
As the ongoing crypto regulation conversation continued, Gemini co-founder Tyler Winklevoss made a startling revelation. In an August 12 Twitter/X post, Winklevoss iterated his support for the ZCash project and Shielded Labs, the firm behind the project.
Consequently, Winklevoss called ZCash “one of the most underrated crypto projects” and indicated his continuous support.
There’s a Tokenized Chapel in Colorado
Interestingly, a network of churches in Colorado tokenized their chapel venue as part of fundraising efforts. The “Colorado House of Prayer” tokenized the building it (currently) uses for its meetings.
The church has rented the “Old Stone Church” from a local business owner.
