Are you curious about the latest in the crypto world? Here’s a rundown of today’s key trends and events affecting Bitcoin prices, blockchain technology, DeFi, NFTs, Web3, and crypto regulations.
The New Web3 wallet rolls out decentralized crypto inheritance.
UBD Network is unveiling a new Web3 wallet to facilitate decentralized cryptocurrency inheritance.
The multifunctional blockchain protocol has announced the launch of DeTrust Wallet, a multi-signature crypto wallet that supports advanced features, including delayed asset transfer capabilities.
According to Ruslan Tugushev, CEO of UBD Network, DeTrust Wallet enables cryptocurrency inheritance directly through its interface.
The importance of this inheritance solution is underscored by a Penguin Analytics survey, which revealed that 48% of capital founders from high-net-worth families are concerned their families may be unable to inherit their capital and assets. The survey, conducted among 13,500 high-net-worth families with up to $100 million in capital, highlights a significant need for effective inheritance solutions.
Crypto Products Experience $305M Outflow Amid Robust U.S. Economic Data
Cryptocurrency investment products experienced significant outflows totaling $305 million last week, driven by strong economic data from the United States. Germany and Sweden also reported smaller outflows of $7.3 million and $4.3 million, respectively. In contrast, Switzerland and Canada saw slight inflows amounting to $5.5 million and $13.2 million, respectively.
CoinShares, in its latest report, noted, “We continue to expect the asset class to become increasingly sensitive to interest rate expectations as the Fed gets closer to a pivot.”
The U.S. Commerce Department reported on August 30 that the Personal Consumption Expenditures (PCE) price index rose by 0.2% for the month and increased by 2.5% compared to last year.
US crypto executives to throw a Washington fundraiser for Harris.
Cryptocurrency investors and industry leaders are urging Vice President Kamala Harris to adopt a more lenient regulatory approach towards the sector. In support of this effort, they are organizing a fundraiser in Washington, D.C., on September 13, with plans to raise at least $100,000 for Harris, the Democratic nominee.
The event, which is grassroots in nature, is strategically scheduled between the Congressional Black Caucus and Congressional Hispanic Caucus conferences. According to the organizers who spoke with Reuters, it aims to attract a diverse group of donors. Ticket prices for the fundraiser range from $500 to $5,000, as noted by Cleve Mesidor, Executive Director of the Blockchain Foundation and one of the event's organizers.
While the fundraising target is modest compared to the hundreds of millions Harris has raised since becoming the Democratic candidate in July after President Joe Biden withdrew from the race, this initiative signals that some industry figures are choosing to support Harris over the Republican nominee, Donald Trump. Trump has actively sought the backing of significant cryptocurrency donors by promising favorable policies.
Cardano's Chang Hard Fork Launches, Marking a Transition to Decentralized Governance
The Cardano blockchain has completed its highly anticipated hard fork, enhancing voting mechanisms and smart contracts and signaling a new era of decentralized governance.
On September 1, at 21:44 UTC, block 10,764,778, the layer-1 proof-of-stake blockchain implemented the Chang upgrade, marking the beginning of what the project calls the "Conway ledger era."
A significant change introduced by this upgrade is the transformation of Cardano's governance model, allowing any ADA holder to submit proposals or participate in the voting process for governance actions as part of the project's "Voltaire" upgrade phase.
In a post on X dated September 2, the Cardano Foundation stated:
"Today's Chang hard fork represents a major milestone for the Cardano blockchain, ecosystem, and community fulfilling the promise of a truly self-governing, decentralized network."
Judge Orders Suspension of Social Media Platform X
On August 30, Brazilian Supreme Court Justice Alexandre de Moraes ordered suspending social media platform X in Brazil after its owner, Elon Musk, declined to appoint a legal representative.
According to an Associated Press report, Moraes issued the suspension following X’s Global Government Affairs team’s refusal to comply with his orders to censor political opponents, which they deemed illegal.
Musk has publicly criticized Moraes, labeling him as "evil" and a "dictator" in response to allegations of "illegal political censorship." Moraes stated that his investigation into the platform was related to its role in disseminating misinformation about former President Jair Bolsonaro.
Despite the suspension, Brazilian users reported that they could still access the social media platform shortly after the announcement.
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