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Daily News Summary 2/8

August 2, 2024 Tóth Balázs
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Bybit Exits France

Dubai-based crypto broker Bybit has announced its exit from the French market, ceasing to offer its products and services in the country. The company cited difficulties in obtaining the necessary licenses following the tightening of regulations in August 2023, in compliance with the European Union’s Markets in Crypto-Assets (MiCA) framework. French users have until August 13 to close all positions, after which only asset and fund withdrawals will be permitted.

Morpho Labs Secures $50 Million in Funding

Ribbit Capital led a $50 million funding round for decentralized lending developer Morpho Labs, with participation from other investors including Coinbase Ventures, Brevan Howard, and Kraken Ventures. Morpho Labs’ initial product, the Morpho Optimizer, enhanced available interest rates for Aave and Compound users but has since evolved into an independent financial infrastructure layer. Their latest product, Morpho Blue, a decentralized lending protocol, now boasts over $1.5 billion in Total Value Locked (TVL).

MicroStrategy Acquires More Bitcoin

MicroStrategy announced on Thursday that it has purchased an additional 12,222 bitcoins for $805.2 million since the start of the second quarter. The company also introduced a new key performance indicator for its bitcoin strategy. MicroStrategy’s total bitcoin holdings now stand at 226,500, acquired at a total cost of $8.3 billion, averaging $36,821 per bitcoin.

TokenPocket Wallet Introduces New Transfer Solution

TokenPocket Wallet, a cryptocurrency wallet with over 25 million users, has announced a new feature that allows users to pay gas fees on the Tron blockchain in USDT instead of TRX. When initiating a transaction, TokenPocket Wallet will automatically use USDT to cover the gas fees. This automation eliminates the need for users to maintain a separate TRX balance for transactions, making the process smoother and more efficient.

New AI Protocols Form Alliance

Following the recent merger of AI-focused ventures Fetch.ai, SingularityNET, and Ocean Protocol, the open-source Lumerin protocol has announced a partnership with Morpheus and Exabits to create a decentralized “AI economy” powered by distributed computing resources. In this collaboration, Morpheus will connect users to AI services and computational resources, Lumerin will manage and direct data flow, and Exabits’ protocol will provide the necessary computing hardware for these.
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