USDC issuer creates $1 billion cash buffer 💰

Gm Degens,

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Here is what we have for you today

• USDC issuer creates $1 billion cash buffer days after PayPal’s entry

• Illuvium unveils date for Illuvitar Wave 2 NFT launch

• UK Announces Leaders for Upcoming AI Safety Summit

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Here is what else we dug for you

USDC issuer creates $1 billion cash buffer days after PayPal’s entry

Circle is fortifying its financial standing with a $1 billion cash reserve to combat threats presented by powerful non-crypto corporations like PayPal in response to a declining market share and growing competition.

Here is what we know about the story:

• Circle has been experiencing a steady decline against the volatility in crypto space.

• The cryptocurrency firm then placed a reserve compounding to $1 billion to combat non-digital asset organizations such as Paypal.

• Jeremy Allaire, CEO at Circle stated that Binance, the world’s leading exchange, is promoting BUSD over other virtual currencies such as USDC.

• Stablecoins are common currency for venture capitalists and retail investors. Nevertheless, they remain limited in terms of consumer transactions.

Illuvium unveils date for Illuvitar Wave 2 NFT launch

Illuvium, a well-known blockchain game, has officially debuted its much anticipated Illuvitar Wave 2 Sale. The event, which is stated to officially begin on August 15th, is sure to thrill gamers by giving them the opportunity to acquire uncommon animals (Illuvitars) and expand their in-game inventories.

• The second wave of prominent blockchain Illuviam is set to commence on August 15th. Participants are waiting with nostalgia.

• Players who will participate during the event, will receive the rare creatures dubbed illuvitars to boost their in-game collections.

• Illuvium claims that the approach they're using for Wave 2 doesn't substantially differ from the approach they used for Wave 1. There is a twist, though.

• The Expanded Run Sale will come first, and then the Alpha Sale, in the Illuvitar Wave 2 Sale. Each phase offers collectors a distinctive way to amass these prized virtual assets.

UK Announces Leaders for Upcoming AI Safety Summit

The major players leading the much anticipated AI Safety Summit this fall have been identified by the UK government. The task of organizing the event has been given to Jonathan Black, a Heywood Fellow at the Blavatnik School of Government, and Matt Clifford, CEO of Entrepreneur First.

• The founders of the UK's AI Safety Conference disclosed that Matt Clifford and Jonathan Black will lead deliberations on global AI risks during the fall.

• The summit was announced by Rishi Sunak in June, seeking to bring together leading AI labs, countries, and specialists in talk and building a common strategy to AI threats.

• In order to drive safe AI innovation and healthcare change, the United Kingdom is looking for a global AI safety framework.

NFT Spotlight: Grant Yun

Grant Yun became a poster kid for fine art NFTs in 2022. Although he maintains that entering the NFT industry required some confidence, his Neo-Precisionist aesthetic stands out in the PFP-dominated NFT market.

The high-profile sale of "Cow" catalyzed a discussion concerning the usefulness and worth of fine art NFTs. Some people thought Yun's invention might quickly become one of the finest use cases of CC0-licensed art in the NFT sector, while others thought it was too easy to be worth 22 ETH (about $72,000 at the time). Even though 2022 has seen a lot of singing of his praises, he has unquestionably earned the spotlight.

Essential links: Twitter

Chart of The Week: BTC Golden Cross

Meme Drop

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Read Our Previous Newsletters

• CZ Denies Rumors of Selling Bitcoin to Bolster BNB 💀 

• Will AI Destroy Humanity? 😳 

• EU Passes World's First Regulatory Framework for Cryptocurrency ⚖️ 

• 🚨 Red Alert: 76 Cryptocurrencies Are Now Illegal! 😱

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