14 July

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“Hop Protocol, a team working on interoperability within Ethereum’s layer-two ecosystem, has launched its Hop bridge for the first time. The bridge has been launched with limited functionality, currently supporting “instant” USD Coin (USDC) transfers between the Ethereum mainnet, Polygon and xDai Chain.

Hop plans to expand the number and assets it supports over “the next couple of weeks,” including crypto assets Ether (ETH), Polygon (MATIC), and Wrapped Bitcoin (WBTC), as well as stablecoins Dai (DAI) and Tether (USDT), and forthcoming layer-two networks Optimism and Arbitrum.”

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“The U.S. Consumer Price Index jumped by 5.4% in the 12 months through June, exceeding the 4.9% increase expected by economists. On a month-to-month basis, consumer prices rose 0.9%, higher than the expected 0.5%, and accelerating from May’s 0.6% pace. This was the fastest one-month increase since June 2008.

Many of the same indexes continued to increase, including used cars and trucks, new vehicles, airline fares and apparel.”

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The firm is looking to add around 100 staff in Dublin, Salt Lake City and Boston. The staff will be used to develop new products and expand beyond bitcoin into other cryptocurrencies.

We’ve seen more interest in ether, so we want to be ahead of that demand.”

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“It’s the first major expansion of S&P’s crypto benchmarking tools since entering the market in May. Headlining the tranche is a “broad digital market,” or BDM, index that includes over 240 coins.

The new subindices also provide different slices and dices of the BDM by market cap so that investors can track different segments of the market. The index is meant to reflect a broad investable universe.”

“Despite “spillovers to broader financial markets” from crypto being limited, the BOE said the growing interest in cryptoassets by institutional investors, banks and payments operators is a concern.

These developments could increase the interlinkages between cryptoassets and other systemic financial markets and institutions.”

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“The debut of Nifty’s social NFT platform came with much fanfare on Monday after the company announced a major partnership with Warner Bros. and $10 million in seed investments from some of blockchain’s biggest venture firms. The Space Jam NFTs were developed with the technology of Palm NFT Studio, which was developed by Ethereum software company ConsenSys.

Nifty’s first announced its NFT-focused social media platform in March of this year, touting big names like Mark Cuban and Joseph Lubin as investors. The project’s ultimate vision is to create a social media community for digital collectibles that supports the new art scene while boosting personal interactions.”

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