Digital Assets Report 80
![Digital Assets Report 80](/content/images/size/w2000/2022/08/24bgmblockchainjpg-2.jpg)
- Schwab Asset Management launches its first Crypto ETF.
- Crypto Fund Variant raises $450 million to back Web3, DeFi projects
- Ethereum's final testnet merge set for early August.
- Bitcoin rallies to monthly high of $24.5k before cooling off to back down to $22.9k at the time of writing along with the rest of the Crypto market.
- SEC charges 11 people linked to Forsage, an alleged ponzi-scheme that raised over $300 million.
- UK Law Commission publishes proposal to reform laws on Digital Assets in an effort to promote the sector's development.
- FDIC issues warning to Voyager Digital stating that their insurance policy does not extend to banks' crypto partners.
Business
![](https://finbold.com/app/uploads/2022/07/Financial-giant-Schwab-set-to-launch-its-first-crypto-related-ETF-on-NYSE.jpg)
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![](https://cdn.decrypt.co/resize/1024/height/512/wp-content/uploads/2022/04/ethereum-gID_6.jpg)
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![](https://cdn.decrypt.co/resize/1024/height/512/wp-content/uploads/2022/07/aave-defi-gID_2.jpeg)
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![](https://www.coindesk.com/resizer/njq7z7nn1QensGO88mUlddvyzz4=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/SAKZBPVVJVALBGRJQZOJFH73QQ.jpg)
![](https://therecord.media/wp-content/uploads/2021/10/bitcoin-cryptocurrency-mining.jpg)
Markets
![](https://www.theassets.io/content/images/2022/08/istockphoto-1282102080-170667a.jpg)
#Bitcoin balance on exchanges continues its macro decline, reaching 12.6% of the Circulating Supply (2.4M $BTC).
— glassnode (@glassnode) July 29, 2022
Exchange balances have now seen a macro outflow of over 4.6% of the circulating supply since the March 2020 ATH.
Live Chart: https://t.co/zJnfaG05zt pic.twitter.com/vhKCudqGUr
Inflation running at a 40-year high.
— Tyler Winklevoss (@tyler) July 27, 2022
Fed raises interest rates .75%. Largest hike since 1994.
No denying inflation now. Bitcoin up 7.5%.
Regulations
![](https://image.cnbcfm.com/api/v1/image/107019404-1645640859659-gettyimages-1238709242-SEC_RULE.jpeg?v=1648650506&w=1920&h=1080)
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![](https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i6ZZM_KBzEfM/v0/1200x800.jpg)
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JUST IN: UAE bank Rakbank first to let customers buy #bitcoin in local currency 🇦🇪
— Bitcoin Magazine (@BitcoinMagazine) July 27, 2022
Opinions
![](https://finbold.com/app/uploads/2022/07/Commodity-guru-expects-Fed-rate-hikes-to-buoy-Bitcoin-to-%E2%80%98outperform-most-assets.jpeg)
Algorithmic stablecoin collapse may crash crypto markets again says IMF
https://protos.com/algorithmic-stablecoin-collapse-may-crash-crypto-markets-again-says-imf/
Readings / Podcasts
Why Markets Viewed the Fed's Latest 75 Basis Point Hike as 'Dovish'
https://nlwcrypto.libsyn.com/why-markets-viewed-the-feds-latest-75-basis-point-hike-as-dovish