Crypto Weekly Recap: Coinbase Futures Approved; Shiba Inu Shibarium Launch; Ripple Opposes SEC; Sei Mainnet Goes Live; and More: August 13–19.

Hey, crypto champs! This is MelegaSwap, the world’s leading decentralized ecosystem. Welcome to the latest edition of the weekly cryptocurrency news roundup, where we will uncover the most interesting news about the crypto market from August 13th to 19th, 2023.

Despite the global crypto market taking a slight hit during the week, sending the price of Bitcoin (BTC) below $26,000, a level not seen in two months, the week was marked by the release of several decentralized products from reputable crypto companies like Coinbase, Shiba Inu (SHIB), and Sei Blockchain.

Moreover, the ongoing legal battle between Ripple and the SEC continues as both parties fight for their respective positions. The OpenSea NFT marketplace has also decided to disable a critical feature on the platform after criticism from users who claim that it is not being implemented effectively.

Finally, the newly launched Coinbase’s Base Network has witnessed almost a thousand scam tokens being deployed.

Let’s dive into these hot news stories!

CRYPTO NEWS RECAP (AUGUST 13–19)

• Coinbase Gets Approval To Offer Crypto Futures to Qualified US Customers
• Shiba Inu Finally Launches Its Shibarium L2 Blockchain
• Ripple (XRP) Files Opposition to SEC’s “Interlocutory Appeal”
• The OpenSea NFT Marketplace Plans To Disable the Royalty Enforcement Feature
• Sei Launches Mainnet
• Newly Launched Coinbase’s Base Network Witnesses Over 500 Scam Tokens Deployed

Coinbase Gets Approval To Offer Crypto Futures to Qualified US Customers

Coinbase has gained regulatory clearance to offer federally regulated cryptocurrency futures trading to eligible US customers. The National Futures Association’s (NFA) approval lets Coinbase provide bitcoin and ether futures trading directly to qualified individuals, a shift from serving only institutional clients.

The company’s commitment to regulated operations stands strong despite challenges. The approval marks a critical milestone in its journey, enabling wider participation in the crypto market while adhering to oversight by the Commodity Futures Trading Commission and the NFA.

Shiba Inu Finally Launches Its Shibarium L2 Blockchain

Shiba Inu (SHIB) unveils its Shibarium mainnet, an Ethereum layer-2 scaling solution, after extensive testing involving millions of users and 21 million wallets. Using the proof-of-participation consensus mechanism, Shibarium aims for efficient transactions, interacting with Ethereum’s layer-1.

Despite market fluctuations, Shiba Inu sustains its community-driven ecosystem, including Shiba Swap, BONE token, metaverse, and Web3 game. Moreover, Shibarium introduces Delegated Proof-of-Stake, involving validators and delegators for network security. It supports SHIB, LEASH tokens, SHIBOSHI NFTs, ShibaSwap, and more.

Ripple (XRP) Files Opposition to SEC’s “Interlocutory Appeal”

Ripple is currently opposing the SEC’s interlocutory appeal, which contests a crucial court ruling. After securing a victory in July, the SEC’s recent reversal has caused tension between the two parties. Ripple has stated that the appeal has no solid basis, is too complex, and may prolong the litigation process.

Despite industry scrutiny, Ripple is pushing back against the SEC’s efforts and urging the court to focus on making a full judgment. The CLO of Ripple has also expressed doubts about the justification for the appeal.

The OpenSea NFT Marketplace Plans To Disable the Royalty Enforcement Feature

OpenSea, a major NFT marketplace, is disabling its royalty enforcement feature, Operator Filter, starting Aug. 31. The tool, introduced in 2022, aimed to ensure creators received fees from secondary sales but faced challenges and limited support.

However, CEO Devin Finzer revealed that some marketplaces bypassed the tool. Creators also felt their control was restricted. Instead of mandatory fees, OpenSea will allow optional creator fees on secondary sales for new collections. Operator Filter won’t block marketplaces anymore, while existing tool users and non-Ethereum collections maintain preferred fees until February 2024.

Sei Launches Mainnet

Sei Labs has launched its Mainnet called the Sei blockchain. This network, designed for efficient asset exchange, has completed a successful Testnet alpha phase with 400 million transactions and 7.5 million unique testnet wallets. The Mainnet beta phase, refined by the community, aims to enable mass digital asset adoption. With unparalleled speed, Sei boasts 250ms finality, built-in parallelization, and Twin-Turbo consensus.

Over 200 teams are building on Sei, including Sushiswap’s futures exchange. The network’s global expansion and Hackathons further highlight its potential in the blockchain space.

Newly Launched Coinbase’s Base Network Witnesses Over 500 Scam Tokens Deployed

Coinbase’s new Base blockchain, created for decentralized apps, is grappling with a snag post-launch. Over 500 fake tokens like BASEPEPE and Baby Yoda flooded the network between July and August, unveiled by Solidus Labs. These tokens affected coin values and enabled illicit actions, amassing $2 million in ill-gotten gains.

Despite the setback, Base, built on Ethereum’s foundation, stands as a secure, scalable, and cost-effective crypto addition, requiring industry unity to thwart scams and nurture reliable networks.

NEW LISTINGS ON MELEGASWAP

PEPE Crazy Burn (PEPECB) Fair Launch

PEPE Crazy Burn is a unique meme currency that brings humor and innovation to the world of decentralized finance. Introducing PEPE CRAZY BURN Coin will burn $PEPE with 3% of all transaction volume!

MelegaSwap X CAT INU

MelegaSwap secured a new marketing partnership with CAT INU (CAT). Cat Inu, a funny cat with bold thoughts, has come to the world of Memecoin. Let’s follow in the footsteps of CAT INU with bold plans to realize the dreams of it and millions of other investors.

Risk warning: Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.

Trade with the best decentralized AMM cryptocurrency exchange

Do you want to buy, sell, and invest in cryptocurrencies and still have 100% control of your crypto assets? If yes, then Melega Finance is for you. MelegaSwap is a leading automated market maker (AMM) decentralized exchange that offers users various options to trade and earn free tokens at high-interest rates and low charges.

At Melega, nobody manages your funds for you because you manage them directly from your wallet, while smart contracts transparently take care of everything else.

Learn More About the Melega Ecosystem

DAPP: https://melega.finance/

Website: https://melegaswap.finance

Crypto Services Hub: https://melega.space/

Telegram: https://t.me/melegacommunity

Twitter: https://twitter.com/meleganza

Binance Feed Page: https://www.binance.com/en/feed/profile/212703589

Instagram: https://www.instagram.com/melega.finance/

YouTube: Melega Finance Official