Outlook Money
The US House approved the Financial Innovation and Technology For The 21st Century Act and the Blockchain Regulatory Certainty Act, which aim to remove hurdles for blockchain developers and service providers and regulate crypto firms. The Senate passed the National Defense Authorisation Act, which includes a crypto-related amendment requiring the Treasury Department to study and combat anonymous transactions.
Researchers Develop Blockchain Verification Service
Combining human expertise, NFTs, and blockchain technology could help humanity protect its priceless artefacts from theft and looting. Archaeologist Mark Altaweel from University College London and computer scientist Adel Khelifi from the University of Abu Dhabi recently announced the creation of a Web3-based verification-as-a-service model for verifying and documenting the validity of cultural artefacts. The main idea behind the service, which goes by the name of Salsal, is to connect the world of historical artefacts with an on-chain validation system that cannot be altered or copied. Altaweel stated Salsal would be explicitly supplied to "cultural heritage organisations" in an email chat with Cointelegraph.
Bankman-Fried’s Rumoured Memecoin Sparks Twitter Debate
News about FTX founder Sam Bankman-Fried secretly pulling the strings of a new memecoin called BALD has triggered a Twitter debate. BALD, introduced on July 30, saw a staggering 289,000 per cent rise in the first 24 hours of trading. The name of the coin is a playful allusion to Coinbase CEO Brian Armstrong. Some Twitter users speculate that Bankman-Fried may be covertly behind the new memecoin on Base.
BALD's price fell more than 85 per cent when the token's anonymous developer pulled out thousands of ETH in liquidity, leading to accusations of a rug pull, which the developer rejected.
The anonymous developer removed ETH in liquidity, leading to a significant drop in BALD's price, sparking accusations of a rug pull. Some users linked the incident to Bankman-Fried, as the Ethereum wallet address responsible for deploying the token received funding from FTX and Alameda Research wallets. Bankman-Fried, currently under house arrest, is awaiting his trial in October.
