Scenius Sync (Issue #61)

Pro Bitcoiner Leads Argentina’s Presidential Primary, Coinbase Lands in Canada, Trump Holds Up to $500k in Crypto, & Take-Two’s First Web3 Game

Scenius: The intelligence and the intuition of a whole cultural scene. The communal form of the concept of genius.

Welcome to The Scenius Sync.

Our mission with this concise publication is twofold:

1. Share the essential stories driving the crypto industry and markets.

2. Highlight innovative applications and mainstream adoption of crypto and blockchain technology.

If you find this newsletter valuable, please subscribe and share The Scenius Sync with your network 💪

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Essential News 🗞

1. Bitcoin-friendly Javier Milei wins most votes in Argentina primary election

   • With over 90% of the votes counted, libertarian pro-Bitcoin candidate Javier Milei is leading with nearly 32%. Here’s more coverage from Decrypt.

2. Coinbase Rolls Out Crypto Services in Canada

   • Crypto exchange Coinbase has announced it’s finally landing in Canada, expanding its already impressive stronghold on the North American market.

     In a bid to onboard new users, Coinbase will also offer Canadian nationals a free 30-day trial to its newly launched subscription service Coinbase One.

3. SEC punts on ARK 21Shares spot Bitcoin ETF, opens proposal to comments

   • The SEC has delayed a decision on approving or disapproving the spot Bitcoin

     ETF proposed by ARK Investment Management. In an Aug. 11 notice, the SEC opened a 21-day comment period for the ARK 21Shares Bitcoin ETF to the public following publication in the Federal Register, the latest delay for the regulator determining whether to approve or disapprove of a spot crypto ETF in the United States. ARK originally filed to list the ETF in May, giving the SEC a maximum of 240 days — until January 2024 — to reach a final decision.

4. Sam Bankman-Fried Jailed Ahead of Trial

   • SBF was sent to jail ahead of his October trial on multiple financial crime charges after a federal judge revoked his release on bond Friday afternoon, saying the former crypto heavyweight appears to have tried to tamper with witnesses.

   • Meanwhile, SBF reportedly used $100 million in stolen FTX funds for political donations before the 2022 U.S. midterm elections, federal prosecutors said on Monday.

5. SEC says it will appeal partial defeat in case against Ripple Labs

   • The SEC said Wednesday that it filed a letter with the Southern District of New York seeking leave for an interlocutory appeal of the summary judgement order in the Ripple Labs case.

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Innovation & Adoption 💡📈

1. Donald Trump, Long Skeptical of Crypto, Holds Up to $500,000 In Ethereum

   • A filing submitted to the Office of Government Ethics included a listing of assets and other sources of income belonging to the former president. In one line on the second to last entry of the 82-page form, it lists a “cryptocurrency wallet (Ethereum)” with a value between $250,000 and $500,000. 

2. 'Grand Theft Auto' dev Take-Two's first crypto game launching on Ethereum

   • In what could end up being a watershed moment in the advancement of blockchain-enabled video games, publisher of the multi-billion dollar blockbuster “Grand Theft Auto” gaming franchise, Take-Two Interactive Software, is launching its first web3 game. Through Take-Two’s mobile gaming publishing subsidiary Zynga, which it bought for $12.7 billion last year, the company is releasing “Sugartown,” a web3 title built on Ethereum, the companies announced in a statement.

3. Visa unveils experimental solution to abstract away gas fees

   • Visa tested a solution to enable users to pay onchain gas fees on Ethereum’s Goerli testnet using account abstraction technology. The solution does away with the necessity for end-users to maintain ether (ETH) for transaction or gas fees, even allowing payment with any token.

4. FC Barcelona secures $132M investment for blockchain and NFT venture

   • Spanish soccer club FC Barcelona has secured a 120 million euro ($132 million) investment from Libero Football Finance AG and Nipa Capital B.V. for its Web3 initiative, Barça Vision. According to the Aug. 11 announcement, FC Barcelona sold a 29.5% stake in Bridgeburg Invest, the holding company for Barça Vision, in exchange for the capital. “Barça Vision is the Club’s initiative to integrate all digital content around Web3 and blockchain including NFTs and metaverse, which are part of the Club’s strategy to build the digital Espai Barça,” developers wrote.

5. Coca-Cola unveils ‘Masterpiece’ NFT collection on Ethereum Layer 2 Base

   • Coca-Cola launched its "Masterpiece" NFT collection on Base, Coinbase's Ethereum Layer 2 network, featuring classic and modern artworks. Coinbase announced the mint on Sunday as part of its multi-week “Onchain Summer” initiative. “Coca-Cola is bringing their Global Masterpiece campaign onchain with iconic works from leading artists,” it said.