This Week in Crypto - 13th of July

Welcome to our weekly update. Here you’ll find a brief overview of the main news and happenings in the crypto market.

1. EU announces 'web4 and virtual worlds strategy'

The EU has bypassed web3 and unveiled a "web4 and virtual worlds strategy." The European Commission (EC) defines web4 as the convergence of artificial intelligence, the Internet of Things, blockchain, virtual worlds and augmented reality. "Beyond the currently developing third generation of the internet, web3, the next generation, called web4, will allow an integration between digital and real objects and environments, and enhanced interactions between humans and machines

2. Crypto Twitter reacts to Arkham’s new 'dox-to-earn' intelligence exchange

Arkham Intelligence, a blockchain intelligence company, announced on Twitter that it's launching “the world’s first on-chain intelligence exchange.” One central feature of the platform is “intel bounties” where those who need it can offer cash to blockchain-savvy analysts to dox (identify) any crypto wallet owner's name or address.

3. BlackRock’s Bitcoin ETF application takes surveillance to the next level

An Information-Sharing Agreement, which appears to be absent from public spot Bitcoin ETF filings, compels a crypto exchange to share trading data up to and including personal information such as a customer’s name and address.

4. Singapore’s Temasek says it’s not looking to invest in crypto firms amid current regulatory uncertainties

Singapore’s sovereign wealth fund Temasek is not currently looking to invest in crypto companies amid regulatory uncertainty in the sector, its Chief Investment Officer Rohit Sipahimalani said. On Tuesday, Temasek posted its worst returns since 2016, weighed by macroeconomic and geopolitical challenges.

5. The latest NFT trend: taking out loans on Rolexes

Blockchain technology has already changed much about the way people interact. But some innovators are hoping to push the technology’s limits even further: they’re betting the blockchain can transform the world into one giant pawn shop.  Arcade.xyz, a DeFi protocol for NFT lending, has begun facilitating loans between strangers that use luxury watches as collateral, and employ NFTs to guarantee those loans’ terms. 

6. Ethereum scaler Starknet launches testnet for transformative 'Quantum Leap' upgrade

The Ethereum scaling solution Starknet has rolled out the testnet for its layer-2 network. The roll-out, conducted by the Israel-based development firm StarkWare, is the first step towards bringing the upgraded solution, dubbed Starknet Quantum Leap, to the mainnet around July 13, provided it passes a community vote.