GizmoLab Report: Cutting-Edge Developments in Web3   📈

Today’s key beats:

- Xapo Enters U.K. With Bitcoin and Fiat Interest Accounts

- Nubit and Succinct Launch Nuport

- Valour to Launch Digital Asset ETPs in Kenya

- Harris Picks Tim Walz as VP Candidate

- Whitehats Return $10M to Ronin Network

- MetaCene Launches Gold Rush Carnival

Xapo Bank Launches Dual Bitcoin and Fiat Interest Accounts in the U.K., Offering 1% Yield Without Staking

Xapo Bank, a Bitcoin-native bank, has entered the U.K. market, offering dual Bitcoin and fiat interest-bearing accounts. The Bitcoin account yields 1% without staking, lending, or locking up assets.

Customers can send up to £1 million and make payments to U.K.-based wallets and accounts. Known for its high-security measures, Xapo also provides a debit card for spending Bitcoin like fiat and offers exposure to S&P 500 stocks and other cryptocurrencies.

Nubit and Succinct Launch Nuport to Connect Blockchain Ecosystems with Bitcoin-Secured Data Availability

Polychain-backed Nubit and Web3 firm Succinct have introduced Nuport, an interface leveraging Nubit’s data availability layer to connect blockchains like Bitcoin, Ethereum, and Solana. Announced on Aug. 6, Nuport utilizes Succinct’s zero-knowledge powered virtual machine, SP1, to enable developers to build high-throughput applications using popular programming languages.

By validating Nubit block headers with zero-knowledge proofs, Nuport provides Bitcoin-secured data availability, enhancing security, scalability, and efficiency for decentralized applications across various blockchain ecosystems.

^{Valour to Launch Digital Asset ETPs in Kenya, Bringing Bitcoin, Ether, Solana, and Hedera to Nairobi Securities Exchange}

Crypto fund issuer Valour will launch digital asset exchange-traded products (ETPs) on the Nairobi Securities Exchange (NSE) in Kenya, partnering with SovFi. The ETPs, including Bitcoin, Ether, Solana, and Hedera, will be “passported” to the NSE.

This move expands Valour’s presence into Africa, offering secure, regulated digital asset exposure. Kenya is advancing in digital asset regulation and has partnered with Abu Dhabi’s Venom Foundation to establish a blockchain and Web3 hub.

Harris Selects Crypto-Cautious Tim Walz as VP Candidate

Vice President Kamala Harris has chosen Minnesota Governor Tim Walz as her running mate for the 2024 presidential election, aiming to strengthen support in Midwestern battleground states. Walz, known for his energy policies promoting 100% clean energy by 2040, has not publicly addressed cryptocurrency.

His stance on clean energy could impact the crypto mining industry's practices. Amid rising crypto relevance, Walz may need to reconsider his position to garner support from the crypto community, especially as Republican nominee Donald Trump embraces crypto-friendly policies.

Ronin: Whitehats Return $10M in Ether After MEV Bug

The Ronin Network has recovered around $10 million in digital assets lost to an MEV exploit on August 6, thanks to whitehat hackers who returned approximately 4,000 ETH. These ethical hackers will receive a $500,000 bug bounty. The Ronin team plans to audit its bridge and implement a new cross-chain transaction system to prevent future incidents.

Ronin has faced major security challenges, including a $600 million hack in 2022 by the Lazarus Group. Despite past issues, Ronin continues to recover, securing support from major players like Binance.

MetaCene Launches Gold Rush Epic Stream Carnival

MetaCene is launching the Gold Rush Epic Stream Carnival in collaboration with 24 industry-leading projects. The event features rewards for tuning into livestreams and participating in partner-hosted events.

Key partners include 0xMantle, HyperPlay Gaming, and clutch_xyz. MetaCene is an anime-style MMORPG that merges traditional gameplay with Web3 technology. 

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