BitMEX
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Clarity Act stumbles, Strategy trims again, and the fight nobody saw behind Mastercard’s $1.8 billion BVNK buy
The cryptocurrency industry is undergoing a significant stress test, with events like a major Bitcoin outflow due to a Coldcard wallet attack, the failure of the Digital Asset Market Clarity Act to pass the Senate, and multiple corporate treasury sales of Bitcoin. Despite these challenges, institutional interest remains, with Fidelity proposing staking rewards for its Ether ETF and Goldman Sachs acquiring NEOS. Meanwhile, Bybit has sued North Korea over a $1.5 billion hack, and over 100 crypto projects have shut down this year, indicating a market shakeout.
Four Months In, Dango Blockchain Pulls the Plug and Winds Down Its Perp DEX
Dango, a blockchain protocol and decentralized exchange, is shutting down after only four months of operation due to cash flow problems, legal issues, and departing team members. Trading on its perpetual DEX will cease on Wednesday, and the network will be completely switched off by August 13. The platform experienced a significant drop in total value locked and struggled to compete with larger rivals in the perpetual DEX market.
