Daily Crypto News

1. Tencent shuts down one of its NFT marketplaces — Launched in January, Tencent News’ NFT marketplace was shut down, citing the need to “adjust” and “transform” the business.
2. Crypto startup funding falls by 26% in H1 2022: report — Following a record first half last year, investments in startups focusing on the cryptocurrency industry are down amid the so-called crypto winter, data showed.
3. Crypto trading volumes dip to 18-month low amid bear market — Spot and derivatives crypto trading volumes have declined by over 15% since May to around US$4.2 trillion, the lowest since January 2021, Bloomberg reported citing data from CryptoCompare.
4. India’s finance minister calls on G20 to share information on crypto — Cryptocurrencies need to be brought under the purview of tax information shared by countries, India’s finance minister Nirmala Sitharaman said at a G20 Ministerial Symposium on Tax and Development in Bali.
5. Hyundai Motor runs NFT memberships for new IONIQ 6 EV —Hyundai Motor unveiled a non-fungible token (NFT) membership program for its new electric vehicle (EV) IONIQ 6, which unlocks exclusive access to Web3 content to holders, according to a press release.
6. Crypto miners should disclose energy data, US lawmakers say — A number of U.S. lawmakers urged the country’s energy and environmental protection authorities to mandate that cryptocurrency miners disclose data on energy use, as seven of the largest mining companies were found to use as much power as all of the homes in Houston
7. Sam Bankman-Fried is positioning himself as crypto’s ‘lender of last resort’ — but even he reportedly couldn’t deal with the $2 billion hole in Celsius’ balance sheet — In June, Celsius froze all customers’ accounts as it struggled to cope with an ongoing crypto market crash. It was around that time that FTX decided not to offer them a loan, the FT said.
8. Bitcoin’s Up, Gold’s Down, the Euro Is Dragging — and It’s All Inexorably Tied — The U.S. The Bureau of Labor Statistics released the consumer price index (CPI), the “inflation number,” for June this week. So macro trends are this week’s featured flavor since CPI wasn’t exactly pretty.
9. First Mover Asia: Bitcoin Dips Below $21K; Why the Current Bear Market Differs From 2018 — “The environment in the current crypto ecosystem vastly differs from the heyday of ICOs in 2018,” Singapore-based Danny Chong, co-founder of DeFi protocol Tranchess, told CoinDesk. “Market maturity has driven the need to establish stronger technological foundations to be laid which have enabled exchanges and DeFi protocols to provide a variety of products, with lending, bridging, and liquid staking abilities, to reduce price fluctuations.”
10. Solana (SOL) Weekly Overview — Monday through Sunday, SOL is up by 11.81% to $40.99. SOL fell to a Wednesday low of $31.85 before striking a Sunday and a new current-month high of $41.07.

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