Crypto Market Roundup (Week of July 24-30)

Elon Musk changes Twitter logo to “X”, coins named “X” increase sharply

Elon Musk plans to change Twitter’s famous logo blue bird to the letter “X”, marking the next big change since the billionaire acquired this social network for $44 billion last year. On Monday last week, he said that twitter.com will now change to X.com, and the new X logo officially replaced the blue bird on the same day.

Binance lists Worldcoin (WLD)

Binance listed  Worldcoin (WLD) and opened trading for these spot trading pairs at 2023-07-24 09:00 (UTC).

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Binance delists 6 BUSD trading pairs

Binance announced that it will delist some trading pairs on the platform on July 26, 2023. The trading pairs removed include: ACM/BUSD, ALPACA/BUSD, BAR/BUSD, LSK/BUSD, QTUM/BUSD, TFUEL/BUSD.

SEC alleges some Binance.US crypto trading was a mirage

The US Securities and Exchange Commission (SEC) has leveled serious accusations against Binance.US, the American branch of the renowned cryptocurrency exchange, Binance. The SEC claims that the exchange has been artificially inflating its trading volumes through the illegal practice of wash trading.

STMX on Binance fluctuates strongly because of contract error

STMX has attracted a lot of attention from the community as it has continuously increased by more than 200% in recent days. However, soon after, the coin suddenly dropped sharply.

Binance challenges CFTC lawsuit

Crypto exchange Binance and its CEO Changpeng “CZ” Zhao requested the dismissal of a lawsuit filed by the United States Commodity Futures Trading Commission (CFTC). The filing states that the CFTC is attempting to regulate foreign individuals and corporations operating outside the United States, which goes beyond the limits of its statutory jurisdiction and interferes with well-established principles of comity with foreign sovereigns.

CryptoQuant CEO: “Worldcoin is a scam”

CryptoQuant CEO Ki Young Ju publicly criticized the cryptocurrency project Worldcoin, founded by OpenAI CEO Sam Altman, labeling it as a potential scam. 

Tiktok adds new features to compete with Twitter and Threads

TikTok has officially introduced text-only posts following the launch of Meta’s Threads app and Twitter’s massive rebranding to X. Users can add sound, enable comments, add locations and more to make their text posts “just as dynamic and interactive as any video or photo post.”

Singapore High Court recognizes cryptocurrencies as property

The High Court of Singapore has recognized crypto as property capable of being held on trust in a case involving Seychelles-based exchange Bybit and a contractor, according to a court judgment published on Tuesday last week.

Binance withdraws its application for a licence in Germany

Cryptocurrency exchange Binance has confirmed that it will no longer pursue licensing in Germany due to recent regulatory constraints. This move comes after Binance withdrew from Austria, Belgium, Netherlands, and when its US branch was sued for operating an unregistered exchange.

DOGE pumps as Elon Musk mentions this meme 

Dogecoin craze seems to be returning as the symbol of this cryptocurrency appears on Elon Musk’s Twitter account, after he changed Twitter’s logo to “X”.

Meta’s metaverse loses $3.74 billion

Meta recently released the company’s second quarter earnings report. The data showed that the “Metaverse dream” remains a “black hole” in Meta’s financial statements. Meta revealed that the company spent $ 7.7 billion on business related to virtual reality (VR). In this quarter, the Metaverse segment continued to lose $ 3.74 billion, following the loss of $4 billion in the previous quarter.

A batch of Alien-themed memecoins emerge after UFO hearing

In the July 26 hearing, former US government officials claimed the existence of alien spacecraft and biologics. It didn’t take long, the crypto community launched a batch of new alien-themed memecoins.

Crypto billionaire Fernando Perez Algaba found murdered in Argentina

Algaba, the cryptocurrency influencer from Argentina, had been missing for more than a week. Then,  he was found dead in Argentina, according to New York Post.