Binance CEO Changpeng “CZ” Zhao has addressed the recent regulatory pressure the exchange is facing in an open letter, in which he said more regulations are “positive signs” for the crypto industry.

Marshall Wace, a London-based hedge fund with $55 billion in assets under management, is reportedly planning to invest in the cryptocurrency sector by acquiring stakes in crypto companies that are at a late stage in their development.

The long-awaited London hard fork is set to launch on Ethereum’s mainnet on August 4, at block 12,965,000. The hard fork will introduce new upgrades to the network and is part of a roadmap leading to the release of Ethereum 2.0

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Top stories in the Crypto Roundup today:

• Binance CEO Responds to Regulatory Pressure Saying It’s ‘Positive’
• Hedge Fund Marshall Wace to Invest in Crypto
• Ethereum’s London Hard Fork to Launch on Aug. 4
• Daily Movers – AXS, KSM, CHZ
• Sponsored: Crypto.com - The World’s Fastest Growing Crypto App

Binance CEO Responds to Regulatory Pressure Saying It’s ‘Positive’

Binance CEO Changpeng “CZ” Zhao has addressed the recent regulatory pressure the exchange is facing in an open letter, in which he said more regulations are “positive signs” for the crypto industry.

In the letter, CZ likened the pressures against his exchange to that of the initial development of the car, drawing parallels to regulations around vehicles when they were first created and detailing “laws and guidelines were developed along the way.”

The CEO’s words come after Binance was caught in a web of regulatory developments that saw several jurisdictions including the Cayman Islands, the U.K., Thailand, and Singapore warn against the trading platform.

CZ reiterated that Binance has stringent insider trading policies and other requirements to keep the platform compliant, and a Secured Asset Emergency Fund (SAFU) was created to protect users’ assets.

The exchange has seemingly tried to stay ahead of the regulatory curve by hiring former members of the Financial Action Task Force to its advisory team earlier this year. Per CZ, compliance “is a journey” and with growth “comes more complexity and more responsibility.”

Hedge Fund Marshall Wace to Invest in Crypto

Marshall Wace, a London-based hedge fund with $55 billion in assets under management, is reportedly planning to invest in the cryptocurrency sector by acquiring stakes in crypto companies that are at a late stage in their development.

Specifically, the hedge fund is set to target investments in sectors such as stablecoins, payments systems, and blockchain technology. It is already an investor in the company behind the USDC stablecoin Circle.

The fund could also potentially trade cryptocurrencies and add them to its portfolio along with crypto firms. It’s the latest large hedge fund to enter the cryptocurrency sector.

Ethereum’s London Hard Fork to Launch on Aug. 4

The long-awaited London hard fork is set to launch on Ethereum’s mainnet on August 4, at block 12,965,000. The hard fork will introduce new upgrades to the network and is part of a roadmap leading to the release of Ethereum 2.0

Ethereum 2.0 will replace Ethereum’s Proof-of-Work consensus algorithm with a Proof-of-Stake algorithm. The London hard fork has been implemented successfully on various testnets and includes five Ethereum Improvement Proposals (EIPs).

The most notable ones are EIP 1559, which introduces a new fee structure to make Ethereum less inflationary, and EIP 3554, which delays Ethereum’s difficulty bomb to December 1. The difficulty bomb increases the difficulty of mining on the network to effectively “freeze” proof-of-work mining and move Ethereum to Proof-of-Stake.

Daily Movers – AXS, KSM, CHZ

Several tokens are leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Axie Infinity Shards (AXS) - Axie Infinity is a Pokémon-inspired universe where anyone can earn tokens through skilled gameplay and contributions to the ecosystem. Players can battle, collect, raise, and build a land-based kingdom for their pets. Axie Infinity Shards are an ERC 20 governance token for the Axie universe. Holders will shape the future of Axie Infinity by signaling their support for upgrades to the ecosystem and directing usage of a Community Treasury.

Kusama (KSM) - Kusama is an early, unaudited and unrefined release of Polkadot. Kusama will serve as a proving ground, allowing teams and developers to build and deploy a parachain or try out Polkadot’s governance, staking, nomination and validation functionality in a real environment.

Chiliz (CHZ) - Chiliz is a fintech platform for tokenizing sports teams. Its currency and blockchain technology power products for casual, mainstream consumers. Socios.com - a tokenized fan engagement solution for sports - is the first platform powered by Chiliz.

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