Bitrue Bulletin | 17.7.2023–23.7.2023| | by Bitrue | Aug, 2023

OpenAI Founder’s Worldcoin Crypto Project Unveils World ID with WLD Token Launch — Worldcoin (WLD), the crypto project led by OpenAI CEO Sam Altman, made its debut on Monday, introducing its innovative concept of the World ID — a digital passport to confirm the user’s human identity and distinguish them from AI robots. The World ID is created through an Orb device, which scans users’ eyeballs to generate a unique digital identity, providing holders with “proof of personhood.” With 2 million users already participating in the beta testing phase, the project plans to expand to 35 cities across 20 countries after the launch, enticing people to join by offering WLD tokens. Although the token experienced initial volatility on exchanges, it stabilized at around $2.20 USD. With a total supply of 10 billion tokens, the initial circulating supply is 143 million tokens, 100 million of which have been loaned to liquidity providers for market making, as per Kaiko data.

Elon Musk Unveils 𝕏 Rebranding on Twitter, Hints at Dogecoin Integration — Earlier this week, Elon Musk brought about a significant transformation on his social media platform, Twitter, replacing the familiar blue bird logo with the new 𝕏 symbol on the company’s website. In addition, Musk briefly featured “𝕏Д on his profile, which represents the popular meme cryptocurrency Dogecoin (DOGE). This move has sparked speculation that Musk may be planning to incorporate cryptocurrency payments into the new 𝕏 ecosystem, with DOGE potentially playing a crucial role. The news has had a positive impact on DOGE, allowing the token to outperform the broader market downturn and record gains over the past week. The rebranding has left the crypto community curious about potential developments that could arise from Musk’s strategic moves.

Bipartisan Support Propels Crypto Legislation to House Floor for First Time — The U.S. House Financial Services Committee made a significant move on Wednesday by voting in favor of two crypto-related bills, marking the first time that standalone crypto legislation is heading to the House floor. The first bill, the Financial Innovation and Technology for the 21st Century Act (H.R. 4763), gained bipartisan support and aims to address the longstanding issue of clarifying the crypto oversight jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Additionally, the bill seeks to provide clear criteria for determining whether a crypto asset should be classified as a security or a commodity. The second bill, the Blockchain Regulatory Certainty Act (H.R. 1747), passed along party lines and aims to exempt blockchain developers and service providers from certain financial reporting and licensing requirements, provided they do not control customer funds. Both bills, proposed by the Republican majority, now advance to the House floor for approval and will subsequently require the approval of a Democrat-controlled Senate to become law.