Web3🌑Friday Roundup: Banana Gun Airdrops, South Korea’s Crypto Law, Injective ETP Launch, & Winklevoss Bitcoin Donation

Happy Friday, Web3 enthusiasts! As we wrap up the week, we've got some exciting updates to share from the world of cryptocurrency and blockchain. From groundbreaking new projects to significant regulatory moves and high-profile donations, today's roundup is packed with news you won’t want to miss. Let’s dive into the details and explore how these developments might shape the future of Web3 and beyond!

1. Banana Gun (BANANA) makes its debut on Binance HODLer Airdrops.

Binance has launched its first project on the Binance Airdrops Portal: Banana Gun (BANANA), an ecosystem token for the Banana Gun bot, which provides trading tools for on-chain tokens. Users who subscribed their BNB tokens to Simple Earn between June 23 and July 5, 2024, are eligible for the BANANA airdrop. BANANA will be listed on Binance starting July 20, 2024, with trading pairs including BANANA/BTC and BANANA/USDT. The token has already seen a 26% price increase in the past 24 hours, reflecting high interest. However, it is categorized as a seed token, which means it may experience significant volatility. The HODLer Airdrops program rewards BNB holders retroactively, making it easier to earn new tokens without continuous engagement.

Introducing Banana Gun (BANANA) on Binance HODLer Airdrops! Subscribe your BNB to Simple Earn | Binance Support

Note: Please do your own research before making any trades for the aforementioned token outside Binance to avoid any scams and ensure the safety of your funds. This is a general announcement. Produ…

Binance Support

2. South Korea rolls out its first crypto investor protection law, enhancing regulations.

South Korea has enacted the Virtual Asset User Protection Act to tackle unfair trading and safeguard crypto investors. This new law, effective from Thursday, requires exchanges to deposit user funds in banks, keep some assets in cold storage, and obtain insurance or reserves. It mandates monitoring and reporting of abnormal transactions to prevent issues like those seen in the Terra-Luna crash and FTX collapse. Additionally, exchanges must offer interest on deposits and adhere to strict guidelines to enhance market integrity. This measure is part of a broader effort to address regulatory gaps and ensure a safer crypto environment.

South Korea Enacts First Crypto Investor Protection Law, Bolstering Existing Rules - Decrypt

South korea’s Virtual Asset User Protection Act aims to target unfair trading practices following incidents of bygone years.

DecryptSebastian Sinclair

3. 21Shares unveils Injective ETP with staking on Euronext.

21Shares has launched the Injective Staking ETP (AINJ) on Euronext Paris and Amsterdam. This product tracks Injective (INJ) performance and reinvests staking yields. Backed by INJ in cold storage, AINJ trades with a 2.5% fee and is supported by major financial institutions. It offers exposure to Injective’s decentralized financial applications and pays an estimated 19.38% staking reward. With $128.6M in assets, AINJ joins a select group of crypto-backed financial products in Europe.

21Shares launches Injective ETP with staking on Euronext

Asset manager 21Shares introduced the Injective Staking ETP on Euronext Paris and Amsterdam, offering investors exposure to decentralized finance with backing from 25 institutions.

CointelegraphDerek Andersen

4. Winklevoss twins donate $1M in Bitcoin to John Deaton's campaign against Sen. Warren.

Tyler and Cameron Winklevoss have each donated $500,000 in bitcoin to John Deaton's Senate campaign, totaling $1 million. Deaton is challenging Senator Elizabeth Warren, whom Tyler labeled as crypto's “public enemy number one” due to her strong stance against digital assets. The Winklevoss twins, co-founders of Gemini, have been vocal in their support for pro-crypto candidates, having previously backed Donald Trump with $2 million in donations. Ripple Labs also contributed $1 million to Deaton's campaign. This move reflects the Winklevosses' commitment to advancing crypto-friendly policies and candidates.

Winklevoss twins donate $1 million in bitcoin to Sen. Warren’s rival

Following political donations to former President Donald Trump, crypto billionaires Tyler and Cameron Winklevoss are supporting Republican candidate John Deaton.

The Block[email protected]

That’s a wrap for today’s Web3 Roundup! With new projects, regulatory advancements, and influential donations, the crypto world is buzzing with activity and opportunities. Stay tuned as these stories unfold and continue to shape the future of blockchain and digital assets. For more updates and in-depth analyses, be sure to follow us on social media and subscribe to our newsletter. We’re here to keep you informed and ahead of the curve in the ever-evolving landscape of Web3. Have a fantastic weekend and see you next time!

WEB3 AI ML