Sushi Labs to Build Native DEX Saru on ApeChain | Cryptocurrency Trends

1. Mainstream Exchange Trends:

• Binance to list Toncoin (TON) on August 8, 2024, 6:00 PM (UTC+8). Supported spot trading pairs include TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY.

2. Cryptocurrency Trends:

• Global asset management giant Franklin Templeton collaborates with the Arbitrum Foundation to launch its OnChain U.S. Government Money Fund (FOBXX) on Arbitrum, an Ethereum Layer 2 network.
• The USABTC policy group proposes a groundbreaking tax-free Digital Economic Zone (DEZ) for Bitcoin to boost the U.S. economy while securing the dollar's global dominance. The initiative advocates for the creation of a tax-free DEZ where Bitcoin can be traded and accumulated without capital gains taxes but with a tax on redemption.
• According to a Bloomberg report, major cryptocurrencies rose slightly on Thursday after Ripple Labs Inc. was ordered to pay a $125 million fine, a decision the company considers a victory over the U.S. Securities and Exchange Commission (SEC).
• The Brazilian Securities and Exchange Commission (CVM) approves a Solana-based spot exchange-traded fund (ETF), offered by QR and managed by Vortx.
• ApeCoin announces on X that Sushi Labs will build a native DEX, Saru, on ApeChain. It is reported that Saru means "ape" in Japanese, reflecting the commitment to the broader APE ecosystem.
• According to an official GMX release, the GMX community initiated a vote on the proposal to change the revenue distribution model to "buyback GMX and distribute GMX", which has received majority support from the GMX DAO and is currently in line for implementation.

3. Financing Trends:

• Quantlytica, an AI-driven liquidity distribution protocol raises €1 million in a funding round with participation from Polygon Labs Ecosystem Fund, Web3Port Foundation, Eureka Partners, DWF Ventures, Connectico Capital, ZBS Capital, and others.
• TONX, the Ton contributors team, secures $4 million funding led by SNZ Ventures and Summer Ventures, previously led by TON Ventures.
• Vessel, a ZK order book trading platform, has completed a $10 million seed round of financing, with participation from Sequoia Capital, Scroll co-founders Sandy Peng and Ye Zhang, the Avalanche Foundation, the Algorand Foundation, IMO Ventures, Folius Ventures, Incuba Alpha, and a group of angel investors.

4. Regulatory Trends:

• Russian President Vladimir Putin signs a law legalizing cryptocurrency mining in Russia, according to a report by TASS. The signed law introduces new concepts, including digital currency mining, mining pool, mining infrastructure operator, address identifier, and the individual who organizes mining pool activities.
• New York judge hands down final approval for defunct crypto exchange FTX and Alameda Research, to pay back $12.7 billion to FTX creditors as part of a settlement with the United States Commodity Futures Trading Commission.