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1,959,595 BNB Removed From Circulation in Binance’s 20th Quarterly Burn
Key takeaways:
- Binance forever removed nearly 2 million BNB from circulation in the second quarterly burn of 2022
- The latest BNB burn was the largest in terms of BNB coins destroyed
- Using scheduled burns, Binance is aiming to decrease BNB’s supply to 100 million tokens, down from the initial supply of 200 million
Binance burned $447 million worth of BNB in 2022’s second quarterly burn

Binance, the world’s largest cryptocurrency exchange in terms of trading volume, announced on Wednesday the outcome of its 20th quarterly burn. Per the company’s official statement, 1,959,595 BNB (roughly $447M at current market rates) were destroyed in the burn, with 4,181 coins out of the total amount forever removed from circulation as a part of the Pioneer Burn Program.

The latest event was the largest in terms of the absolute numbers of tokens burned, topping the 19th quarterly burn by more than 1.5 million BNB. However, both the 18th and 19th burns were bigger in terms of the total dollar worth, with $729 million and $741 million worth of BNB burned, respectively.

Binance shared a link to the transaction ID of the 20th burn, which shows that the scheduled burn took place on July 13 at 2:00 PM UTC, and cost just 0.002 BNB in total.

Scheduled quarterly burns are a method used by Binance to achieve its goal of burning half of the initial BNB supply. Recall that Binance launched BNB after a successful ICO campaign in 2017 with a total supply of 200 million. Since then, 20 quarterly burns later, the coin boasts a circulating supply of 163 million.

In addition to scheduled quarterly events, which were made more predictable and efficient via last December’s Auto-Burn revamp, the exchange also launched real-time BNB fee burning mechanics as a part of the BEP-95 proposal that passed in late 2021.

Binance’s pursuit of deflationary characteristics for its native digital currency has the primary goal of maintaining a higher degree of BNB’s price stability.

The price of BNB experienced a modest rally on the news of the latest BNB burn – the exchange token, formerly called Binance Coin, rose from $217 to $230 in the 24 hours after the announcement was made. At press time, BNB is changing hands at roughly the $228 level.
July 14, 2022
Bitcoin.com Sponsors BitSpinCasino.com, a Fun Crypto Casino Meant for All Players

Introduction

Bitcoin.com is one of the most reputable brands in the cryptocurrency marketplace. Recently, Bitcoin.com has announced sponsoring a new comprehensive casino experience by way of BitSpinCasino.com. BitSpinCasino will provide a casino experience simply out of this world.

What is Bitcoin.com?

As a cryptocurrency company named after the world’s foremost cryptocurrency, Bitcoin.com provides products, services, newsworthy articles, and information related to all things crypto. This includes casino and gaming services. This gaming offer will be extended and improved with the addition of BitSpinCasino.

What is unique about BitSpinCasino.com?

The look and feel of the new BiSpinCasino engages casino players with themes of space, astronauts, and spaceships. Quite simply it’s out of this world. And like in real life, these casino entities are heading straight for galactic checkpoints in a time-honored tradition of Bitcoin’s missions to the moon. As they say in crypto, these games will allow players to earn Bitcoin winnings “to the moon”.

What types of casino games will be supported?

Casino players will be allowed to experience premium gaming in BiSpinCasino with a wide assortment of popular and exclusive slots, live casino, table games, progressive jackpots, and more.

BitSpinCasino will offer one of the most complete and comprehensive game suites of any cryptocurrency casino. For example, BitSpinCasino will offer over one hundred table games, over five hundred slots, and over eighty live games.

Many of the major games will be available on the BitSpinCasino platform. Some of the more popular that casino players will find on this new platform include “Starburst” by NetEnt, “Book of Dead” by Playn’Go, and “Lightning Roulette” by Evolution.

BitSpinCasino’s platform is second to none. BitSpinCasino partners include many of the trusted names in the casino gaming space including NetEnt, Playson, Playn’Go, BGaming, Pragmatic Play, isoftbet, and Evolution, among others.

Apart from having access to many of the well-known games provided, BitSpinCasino also has their own exclusive games. Indeed, jackpots on some of their exclusive games can be won on all bet levels and can go as high as 25 BTC!

To support a wide array and diverse assortment of casino players, BitSpinCasino will accept deposits and withdrawals in various cryptocurrencies. For example, many of the most popular cryptocurrencies including BTC, ETH, BCH, DOGE, LTC, USDT will be accepted.

And unlike some other cryptocurrency casinos, BitSpinCasino will also accept several different types of FIAT currencies including EUR, USD, CAD, AUD, NOK, RUB, PLN, NZD, JPY.

To entice casino players to pursue their first intergalactic playing experience, BitSpinCasino is offering an amazing limited-time Welcome Package.

The Welcome Package

This Welcome Package is offering casino players a generous 290% deposit bonus. So, if a player were to deposit $100, that player would receive an additional $290 which they can use to play.

In addition, this Welcome Package includes up to 3 BTC on the first three deposits made by the casino player. This Welcome Package also offers new casino players 300 Free Spins. These free spins represent spins on a slot game that players can enjoy without betting any of their real money. This makes the free spins quite appealing to all types of players, whether they are a new or a seasoned casino player.

July 14, 2022
Nexo Adds Optimism (OP) to Its Platform with Support for Trading, Borrowing and More

Nexo now supports the Optimism (OP) token

Cryptocurrency lending platform Nexo now supports Optimism’s OP token on a wide selection of its services. Nexo users can now purchase OP tokens with their debit or credit cards with 0% fees for a limited time, or trade OP across 6 different trading pairs. OP swaps on Nexo give users up to 0.5% on crypto rewards.

Since Nexo specializes in crypto lending, users can of course also provide their OP tokens as collateral to borrow funds. Through the Nexo Booster product, customers can leverage their positions up to 3x by using crypto-backed credit lines.

Optimism is a leading layer 2 project that utilizes optimistic rollups to give Ethereum users a much faster and more cost-efficient alternative. In simple terms, the technology allows many transactions to be batched together into a single transaction that is then submitted to the Ethereum mainnet.

Several leading projects on Ethereum have launched their protocols on Optimism, including the likes of Uniswap, Aave and Curve. According to DeFi Llama, decentralized finance protocols on Optimism have a combined total value locked (TVL) of about $273 million.

The OP token launched on May 31, and is designed to facilitate the governance process for the Optimism platform. OP holders vote on proposals as part of the Token House, which is one of the two main entities handling Optimism governance.

Coming back to the token’s listing on Nexo, OP holders can now also spend their tokens using the Nexo Card, which offers up to 2% in crypto rewards. Users can provide their OP as collateral and spend up to 90% of its value with the card:

“The credit line can utilize just your OP tokens or a combination of multiple assets as collateral. It allows you to spend up to 90% of the value of your crypto without selling it.”

By spending their tokens through the Nexo Card, users can potentially also benefit in terms of tax optimization.

July 13, 2022
U.S. Treasury Publishes Framework For International Digitial Assets Regulation
Key takeaways:
- The US Department Treasury, working with a group of agencies and regulatory bodies, published a crypto regulation framework
- The fact sheet comes as a result of President Biden’s crypto executive order from earlier in the year
- The document outlined core policy goals to be achieved through international cooperation
U.S. Treasury’s fact sheet outlines the Biden administration’s core policy objectives

The United States Treasury Department – in conjunction with several relevant governmental bodies, including the Secretary of State and the Secretary of Commerce – has published a fact sheet on international cryptocurrency regulation. The regulatory framework outlined in the document comes as a direct outcome of President Biden’s March executive order on Ensuring Responsible Development of Digital Assets published in March 2022.

The fact sheet sought to accommodate U.S. policy objectives outlined in the executive order, such as the protection of consumers, investors, and businesses, mitigation of system risk and illicit finance, and promotion of safe and affordable financial services.

An excerpt from the fact sheet reads as follows:

“The framework is intended to ensure that, with respect to the development of digital assets, America’s core democratic values are respected … and the safety and soundness of the global financial system and international monetary system are maintained.”

The full list of objectives outlined in the fact sheet published on July 7 includes:
- Protection of consumers, investors, and businesses
- Pursuit of domestic and global financial stability
- Preventing “foreign adversaries” from using digital assets to pose national security risks
- Reinforcement of U.S. dominance in finance and tech
- Promotion of safe and affordable financial services and products
- Advancement of digital assets development and research
The Biden administration aims to pursue the above-listed policy goals both domestically and by working with global partners through the G7 and G20 intergovernmental forums, regional and bilateral agreements, and via international regulatory and financial institutions such as the Financial Stability Board (FSB), the Organization for Economic Cooperation and Development (OECD), and the International Monetary Fund (IMF).

In related news, the Federal Reserve hosted an inaugural conference on the role of the US dollar last month. According to the write-up published last week, the conference attendees agreed that digital assets can help the US maintain its dominant global economic position in the medium term.
July 13, 2022
Long-Term BTC Holders ‘Underwater’, Holding Aggregate Unrealized Loss of -14%, Per Glassnode
Key takeaways:
- The latest Glassnode weekly report examined past bear markets to determine whether a Bitcoin bottom is forming
- Several market indicators point to the fact that LTHs and crypto miners are months removed from capitulation
- Going by Glassnode’s findings, the price of Bitcoin could continue moving in the negative direction in the near-term
Glassnode examined previous bear cycles to pinpoint a Bitcoin bottom

In their latest weekly report – aptly named Pressure Builds on Diamond Hands – Glassnode researchers examined past Bitcoin downtrends to determine whether “widespread capitulation” is near and – with Bitcoin trading more than 70% removed from its all-time high – the bottom has been reached.

The behavior of long-term holders (LTHs) – defined by Glassnode as investors who hold onto their digital assets for at least 155 days – is one of the most important metrics when identifying bear bottoms, according to the report.

At current market rates of roughly $20,000 per Bitcoin, LTHs who are willing to spend their coins are locking in an average loss of 33%, according to the Long-Term Holder Spent Output Profit Ratio (LTH-SOPR) metric. For context, an LTH-SOPR ratio of 1.0 means the coins are spent at exactly their cost basis.

Image source: Glassnode

The current ratio of 0.67 is higher than in the short-lived March 2020 bear market, but still considerably lower than in the prolonged bear markets that started in 2014 and 2018, respectively.

“Similarly, LTHs are currently underwater on average, holding an aggregate unrealized loss of -14%,” continued the report.

The current LTHs to STHs ratio is still far above previous market bottoms

Another important factor to consider when trying to gauge market bottoms – at least when looking at historical data – is the ratio between LTHs and short-term holders (STHs). STHs are defined by Glassnode as investors who held to their digital assets for less than 155 days. The researchers noted:

“Bottom formation is often accompanied by LTHs shouldering an increasingly large proportion of the unrealized loss. In other words, for a bear market to reach an ultimate floor, the share of coins held at a loss should transfer primarily to those who are the least sensitive to price, and with the highest conviction.”

Currently, over 16% of the Bitcoin supply in loss is held by STHs, which indicates that these new holders will have to mature to LTHs before a “resilient bottom” can be established. Going by historical data, the share of supply in loss held by STHs fell below the 5% threshold during previous capitulation events.

Image source: Glassnode

In addition to LTHs selling their holdings en masse, miners losing conviction is another hallmark of late-stage bear markets. The report points out that miners are, in fact, facing severe pressure as of late. The aggregate miner income in USD – tracked by the Puell Multiple – is 49% below the 1-year average.

Glassnode predicts that if prices don’t experience a meaningful recovery in Q3 2022, we could see miners being forced to sell their BTC holdings in large amounts to cover operations costs. Glassnode wrote:

“The duration of miner capitulation in the 2018-2019 bear market was around 4-months, with the current cycle only having started in 1-month ago.”

Similar to the ratio of STHs, data pertaining to Bitcoin miners indicates that widespread capitulation could still be months away. Our algorithmically generated price prediction charts seem to agree with the negative market sentiment outlined in the report and forecast a considerable drop in the value of Bitcoin is in the cards in the coming months.

Buy/Sell BTC
July 13, 2022
MLB All-Star and NY Yankee Pitcher Nestor Cortes Releasing Personal NFT Collection On The ReserveBlock RBX Network
Miami, United States, 12th July, 2022, Chainwire

Personal Proceeds To Benefit Hospitals In NYC & Miami

MLB All-Star and NY Yankee Pitcher Nestor Cortes, aka “Nasty” Nestor, announced today that he will be releasing his exclusive NFT collection on the ReserveBlock Foundations RBX Network (reserveblock.io) protocol with a portion of his personal proceeds to benefit Sloan Kettering Memorial Hospital and Miami Children’s Hospital on Sunday evening July 17th. RBX is the first open-source decentralized NFT Centric Blockchain that enables true peer-to-peer operability for the minting and trading of NFTs with or without the need for a centralized authority.

With an ecosystem that provides a full suite of on-chain tools, RBX reduces common frictions and burdens by providing an environment for anyone and everyone to participate with transparent trustless features all through a core wallet or web wallet by either validating on the network and/or writing a smart contract without the need-to-know code whatsoever. RBX will be moving from a successful public test net on Sunday, July 17th to mainnet beta launch.

“In honor of my selection to my first MLB All-Star Game, I wanted to create a series of unique NFTs that allowed me to help tell my story and connect directly with fans,” said Nestor Cortes. “I had been very interested in NFTs for the past couple of years but was looking for a network that I could easily use as well as allow my fans to easily interact with me directly. When I discovered RBX through a friend and started to test it myself, I knew I finally found exactly what I needed to accomplish to create my personal NFT collection. This is a super cool moment for me.”

Cortes has also stated that he is releasing six very special One of One digital collectible cards that each come with a signed game-worn item, original photography, and some with special home-game experiences exclusively in each NFT. Each NFT collectible has Nestor’s personal designs and was created in collaboration with Mike Fogg a digital artist of Astro Kongs, Space Hoops, Cyber Souls, and Astro League collections, as well as digital creator and friend Juan Garcia. Upon release on Sunday evening July 17th, fans will be able to simply visit a direct link provided by Nestor to his personal wallet auction for all fans who wish to participate with bidding or “buy now” mechanism and even purchase by simply using a credit card.

“Each one of my NFTs is my own personal designs as well as my own game-worn items signed by me for everyone and even enjoy a game experience at the stadium for some of the people who own them.” Said Cortes. “I am also really looking forward to donating to two special places to me personally that help so many people at Sloan and Miami Children’s. Both hit home on a personal level for me and the fact that I am able to help contribute to these important places is even more gratifying.”

Nestor also stated that additional details and previews regarding his personal auction will be forthcoming via his social media channels in the coming days leading up to the launch on the 17th.

About ReserveBlock Foundation

The RBX network has been created and developed as the result of a collective of founding sponsors, each with vast expertise in media, entertainment, technology, sports, hospitality, banking, and finance. Led by The Reserve Label, Texoware, and The Young Astronauts technology group as the initial founding and development sponsors, the foundation has been completely self-funded and devoid of any centralized control whatsoever ensuring the most ideal decentralized NFT Layer 1 ecosystem. Governed by a Masternode infrastructure, the RBX network has been designed to provide true NFT utility through a singular core wallet for Masternodes, Smart Contracts, NFTs, and Decentralized Sales Tools (DSTs) providing open participation for everyone.

For Nestor Cortes & RBX Further Inquiries:

Website: reserveblock.io

Discord: discord.com/invite/PnS2HRETDh

Twitter: twitter.com/ReserveBlockIO

Instagram: instagram.com/reserveblockio

Github: github.com/ReserveBlockIO

Nestor Cortes:

Instagram: @nestorcortes12

Twitter: @Cortes_1210

Contacts
- Chelsea Oliver
- coliver@optimistconsulting.com
July 12, 2022
The Sandbox Owner Animoca Brands Raises $75 Million at $5.9 Billion Valuation
Key takeaways:
- Animoca Brands, a blockchain gaming and venture capital company, has raised $75 million in the latest funding round
- The new capital raise puts the company’s pre-money valuation at $5.9 billion
- Animoca Brands’ valuation more than doubled in the past year despite the broader crypto downturn
Animoca Brands’s pre-money valuation grew from $2.2B to $5.9B in the past 9 months

Animoca Brands, a Hong Kong-headquartered blockchain gaming and venture capital firm, announced on Tuesday that it raised over $75 million in its latest financing round. The round – which was led by Liberty City Ventures and saw participation from 10T Holdings, C Ventures, Delta Fund, and others – was the second portion of the financing that was originally announced in January. At the time, the company raised more than $358 million “to grow the open metaverse.”

According to the press release, investors bought were able to acquire shares of Animoca Brands at a subscription price of A$4.50 (roughly $3.03 USD). With a total number of shares of more than 1.8 billion, the company’s pre-money valuation currently stands at $5.9 billion.

Emil Woods, managing partner of Liberty City Ventures, the leading investors in the latest funding round, had this to say about Animoca Brands’s long-term prospects:

“Over the next decade, humanity will discover and embrace the game-changing power that blockchain-based digital ownership of assets will bring to countless aspects of daily life. We are proud to support Animoca Brands, a highly talented team of visionaries and builders at the forefront of this movement to embrace and fulfill the promise of Web3.”

Animoca Brands is perhaps best known for its role as a developer and the owner of The Sandbox, one of the most popular blockchain-powered metaverse games in the industry. In addition, the company has a growing portfolio consisting of prominent crypto companies such as OpenSea, Axie Infinity, NBA Top Shot, Harmony, and over 300 other projects.

Last October, Animoca Brands raised $65 million at $2.2 billion pre-money valuation in a venture round co-led by Token Bay Capital, Summer Capital, and Dragonfly Capital.
July 12, 2022
GameStop Launches Public Beta of its NFT Marketplace
Key takeaways:
- GameStop has launched a non-fungible token (NFT) marketplace in partnership with Immutable X
- The marketplace is currently in a public beta
- GameStop NFT saw more than $1.1 million in trading volume in the first 24 hours since going live
GameStop launches NFT marketplace in collaboration with Immutable X

GameStop, a Texas-based games, consoles, and consumer electronics retailer, has launched a beta of its non-fungible token (NFT) marketplace. According to the official statement, the marketplace will “allow gamers, creators, collectors and other community members to buy, sell and trade NFTs.”

The company, which has undergone significant restructuring in recent years, first announced plans to launch its own NFT market earlier this year. To this end, GameStop penned a deal with Immutable X, one of the leading Ethereum Layer-2 developers. The two companies agreed to launch a $100 million fund denominated in IMX tokens to support NFT developers in February.

GameStop NFT lists more than 53,000 unique digital collectibles. Image source: GameStop NFT

In the statement, GameStop described its newly-launched marketplace as a “non-custodial, Ethereum Layer 2-based marketplace that enables parties to truly own their digital assets.”

Over time, the company plans to expand the functionality of the marketplace to include “Web3 gaming, more creators and other Ethereum environments.”

In May, GameStop launched its own self-custodial blockchain wallet solution, which allows users to seamlessly access decentralized applications (dApps) on Ethereum, and store digital currencies and NFTs. GameStop Wallet can be installed as a browser extension on Google’s Chrome browser. The company is developing an app for the iOS operating system which will be available “soon”.

According to the collection stats data on GameStop NFT, the marketplace facilitated approximately $1,153,000 in total trading volume since going live (a little over 24 hrs at the time of writing). For context, Coinbase NFT that went live earlier this year cleared just $14,400 in total trading volume in the last 24 hours, according to Dune Analytics.

After hitting record figures in 2021, the trading volume of NFTs took a big hit this year. OpenSea, the world’s largest NFT marketplace, saw an overall decline in sales of 57% in June alone.
July 12, 2022
Vleppo and Tokel make NFT rights legally enforceable in the real world leveraging Komodo technology
Kongens Lyngby, Denmark, 12th July, 2022, Chainwire

A long-standing problem confronting the blockchain world and NFT owners is the distinct lack of contractual clarity and legal rights in the enforcement of digital asset transactions. Today, Vleppo and Tokel have successfully conducted a breakthrough digital procedure that will pave the way for the blockchain industry and NFT owners to establish and enable their legal rights embodied in the NFTs and digital transactions to be made legally enforceable in the courts of law around the world.

In June 2022, Vleppo developed a Blockchain Contract Management System (“CMS”) that enables NFT owners to create a digital contract by embedding their NFT’s on-chain ID directly into the Blockchain record of the same digital contract.

This seemingly simple digital procedure however has massive ground-breaking significance for the digital world.

Through this process, the NFT can now act as an immutable evidentiary anchor for the digital contract, forever linking the two together. This link is readily observable because Vleppo’s Blockchain system, called Alysides, which is a customized fork of the Komodo Protocol, is both public and permissionless.

This Vleppo Solution has for the first time finally addressed the longstanding concern of the blockchain industry and NFT owners about the lack of clarity on the legal enforceability of smart contracts as related to NFTs.

That Vleppo has developed a solution is most welcoming as well as providing a great sense of relief to holders of valuable NFTs.

For a contract to be legally enforceable it needs to fully satisfy the elements of (1) offer (2) acceptance (3) consideration (4) capacity of the parties to contract and (5) an intention between parties to create and be bound to legal relations.

The first three elements are satisfied by any smart contract. Legal issues arise, however, when attempting to demonstrate that both parties intended to create legal relations and/or have the capacity to contract.

This is because current smart contracts in isolation are incapable of definitively confirming that these qualitative elements of a legally enforceable contract have been met. Therefore, it is common practice for smart contracts to be accompanied by a separate natural contract.

By comparison, a digital contract or smart contract executed in the Vleppo CMS, where the ID of the NFT is embedded into the Blockchain record of the contract, ensures that the link between the NFT and underlying contract cannot be broken.

The Vleppo Solution is Blockchain agnostic as this unique solution delivers legal enforceability enhancement to NFT owners, regardless of whether the NFT is on Ethereum, Polygon, Solana, or any other Blockchain.

Furthermore, because of the Komodo Protocol’s superior design and lack of reliance on ‘gas-style’ transaction fees, Vleppo’s CMS can accommodate even the highly complex contractual arrangements in an affordable and efficient way in comparison to other popular protocols, such as Ethereum.

Being Blockchain-enabled, Vleppo can provide further additional value-added services to users such as payments, escrow, and Blockchain-governed dispute resolution – essentially everything needed to execute and settle contracts.

Chris Sloan, Chair of the Emerging Companies Team at US legal firm Baker Donelson said: ‘The concept of, for example, embedding an NFT of a song into a Ricardian contract that defines a user’s rights with respect to that song is a nice marriage of the benefits of an NFT in terms of being able to track the distribution of a digital asset like that with traditional contract law’ during a panel discussion held on Thursday 7th July following the Vleppo and Tokel demonstration.

During the same panel discussion, Jesper Løffler Nielsen, Associate Partner at Focus Advokater, highlighted the disconnect between the desire and positivity in the EU to embrace Blockchain solutions for IP and action, referencing the 2019 “Blockchain Now and Tomorrow” European Commission Report stating ‘… but we (the EU) are moving slowly because that was in 2019 and now we are 2022 and as far as I know there hasn’t been any major leaps forward when it comes to recognizing some of these applications (of Blockchain and IP).’

Through the Vleppo CMS, a solution is now available to effectively manage the gap between the digital asset world and current legislation.

Peter Coco, Vleppo’s CEO remarked “It has been a long slog. But it is a big delight for the Vleppo Team to be able to savor the sweet smell of success. At long last, the problem that has posed a challenge to the blockchain world and NFT owners, concerning the distinct lack of legal clarity and legal rights in smart contracts, is finally resolved. We would welcome the opportunity to help all blockchain companies and NFT owners to enhance their existing digital and smart contracts as well as their NFTs to be recognized as legally binding contracts in courts of law.”

Peter will be at DMCC Free Trade Zone in Dubai to meet with partners and investors in mid-late July to discuss the potential universe of applications of Vleppo’s technology and the next steps in helping owners of NFTs and other digital assets to unlock and monetize their value.

About Vleppo

Founded in 2018, Vleppo is a Web3 blockchain solution provider. Its applications have been focused on developing a Blockchain-integrated suite of business tools for freelancers, SMEs, and enterprises. For more information visit www.vleppo.com.

Peter Coco can be reached directly via Telegram (@petercoco) and email (peter@vleppo.com).

About Tokel

Tokel is a platform that uses unique nSPV technology to deliver a simple, fast, and easy-to-use Blockchain NFT and token creation system. For more information visit www.tokel.io.

About Komodo

Komodo is a community-oriented project, consisting of a customized version of the Bitcoin protocol (known as the Komodo Protocol) as well as a blockchain running on the Komodo Protocol.

Contacts

Mr
- Peter Coco
- Vleppo ApS
- accounts@vleppo.com
- +380503161600
July 12, 2022