Mysten Labs has closed a $300 million funding round and is now valued at more than $2 billion. The Series B round was led by FTX Ventures. Mysten is building its own blockchain called Sui. Venture capital-backed blockchain startups have raised nearly $12.8 billion this year.
Luna classic has surged in price over the last week. The Luna classic community recently approved a proposal that introduces a 1.2% tax rate on every transaction on the blockchain. The tax will take effect on September 20. While the tax can't be enforced on trades within centralized exchanges, some exchanges plan to voluntarily adopt it. Binance is adding LUNC/USDT to its trading pair list.
re:meme is an on-chain meme remixer built on top of the Lens Protocol. Its app allows people to upload meme templates that other people can build on using an easy-to-use image editor. The on-chain protocol allows meme templates to be traced back to their origins. re:meme's custom Lens collect module on Polygon allows for the collection and ownership of publications as memes. Meme owners will have the ability to change the monetization parameters of their memes.
Binance plans to issue a soulbound token on the BNB blockchain to its users who complete know-your-customer requirements. Soulbound tokens are unique and non-transferable tokens that represent social identity. Users who receive Binance's soulbound tokens will be allowed to participate in projects and earn rewards. Users who prefer to stay anonymous can opt out of the token.
RainbowKit now has support for Compact Mode. Compact Mode offers a more minimal UI with less educational content. Screenshots showing the difference between Wide and Compact Mode are available in the thread.
Fuel is a modular execution layer that delivers the highest flexible throughput for the Ethereum ecosystem. It features fraud-provable trust-minimized light clients and trust-minimized liquidity bridging. Fuel is changing how developers build decentralized apps. This article discusses the challenges with Fuel and what its modular architecture enables. A link to a developer guide for building on Fuel is available.
Two Coinbase employees and four other plaintiffs are suing the US Treasury over the sanctions placed on Tornado Cash. Coinbase is paying the legal fees for the case. The company believes that the government overstepped its authority by placing sanctions on code. The plaintiffs' case argues that the definition of 'persons' in sanction law doesn't cover open source software code. Federal lawsuits typically take a long time to resolve, but Coinbase expects a decision to be made fairly quickly as there is no money involved and the case turns on a straightforward statutory and Constitutional challenge.
The White House Office of Science and Technology has released a report that claims bitcoin mining negatively impacts the environment. It hints at possible executive orders and legislation to limit or eliminate proof-of-work mining. The report claims that bitcoin mining adds stress to the power grid and raises the average electricity cost for consumers. Some of the report's cited resources have been criticized for being biased and spreading misinformation.
The CFTC will likely regulate spot and futures for non-security tokens and the SEC will likely regulate spot and issuance of tokens that are securities.