$24M CryptoPunk NFT Sale Slips Under the Radar As Market Cooldowns
NFT investor Deepak Thapliyal recently transferred his rare CryptoPunk #5822, which he had purchased in 2022 for 8,000 Ethereum worthed about $23.7 million at that time, without disclosing the sale amount. This has resulted in speculation that the NFT was sold at a loss, as the market for digital art has declined. With NFT sales volumes dropping significantly compared to 2022, the community believes that the CryptoPunk may have been sold for around 5,000 Ethereum, approximately a 43% loss. The decline on NFTs can also be highlighted to a recent Sotheby’s auction where another CryptoPunk only attracted one bid far below its estimated value.
Germany's Crypto ATM Crackdown Recovers Almost €250,000
German authorities seized nearly €250,000 in cash during a nationwide operation targeting cryptocurrency ATMs that were operating without proper permits, posing money laundering risks. The operation, led by Germany's financial regulator BaFin in collaboration with law enforcement and the German Bundesbank, resulted in the confiscation of 13 unlicensed ATMs across 35 locations, which were used for trading bitcoin and other cryptocurrencies. This crackdown prevents criminals from accessing crypto as a money laundering solution.
Tron Memecoin Platform Achieves $1M Revenue Milestone in 11 Days
In just 11 days since its launch, the Tron based memecoin deployer SunPump has generated over $1.1 million in revenue and assisted in creating over 18,000 tokens. Backed by Justin Sun, the platform earned its highest revenue on August 20, with nearly 2.78 million TRX (around $400,000) in a single day, despite experiencing brief downtime due to high traffic. The launch of SunPump has significantly boosted liquidity on the Tron blockchain, aided by Sun’s $10 million Meme Ecosystem Boost Incentive Program and Tether's minting of 1 billion USDT on Tron. While debates continue over the value and longevity of memecoins, Sun remains optimistic, emphasizing their potential to build strong communities.
Ripple, Coinbase Bet Big on Politics with $119M Investment in 2024 Election
Crypto companies like Coinbase and Ripple have invested over $119 million in the 2024 elections to back pro crypto candidates to shape favorable regulations. Most of this funding has gone to super PACs, with Fairshake PAC receiving $107.9 million, over half of its total funding from these firms. High profile contributors like Andreessen Horowitz and Coinbase’s CEO have bolstered this effort. While this spending has successfully influenced political races, such as Donald Trump’s shift to support crypto, it raises concerns about the influence of corporate money on democracy and public welfare.
El Salvador’s Bitcoin Initiative Expands with Certification Program for Civil Workers
El Salvador's government has launched a comprehensive Bitcoin certification program aimed at upskilling 80,000 civil servants. Managed by the National Bitcoin Office, this 160 hour virtual course covers strategic management and public policy related to Bitcoin, divided into seven modules. The initiative, conducted by the Higher School of Innovation in Public Administration, seeks to improve governance standards and support the nation's Bitcoin-driven economy. El Salvador’s success with Bitcoin has drawn international interest, with Argentina engaging in discussions to learn from its adoption experience.
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