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Quick Take

• Less than 30% of Tornado Cash deposit originates from stolen funds and sanctioned entities, while a significant portion possibly comes from legitimate sources, according to Chainalysis.
• The number of unique users has dropped significantly after the sanction, whereas previous depositors rushed to withdraw their funds from the protocol. 
• Some privacy advocates sent ether to crypto notables via the sanctioned protocol without their consent, as cryptocurrency wallets cannot reject incoming payments.

dYdX said it has blocked users that have interacted with Tornado Cash.

The post dYdX confirms blocking user accounts tied to Tornado Cash appeared first on The Block.

LongHash Ventures Fund II will focus on pre-seed to Series A-stage startups building out multi-chain web3 infrastructure. 

The post Asian web3 accelerator LongHash Ventures announces new $100 million fund  appeared first on The Block.

Quick Take

• Fintech funding continued its slump from the high of 2021. July saw fintech startups raise only $6 billion from investors, compared to $13.3 billion this time last year. 
• The largest raise came from payments company and buy now, pay later company Klarna which raised an $800 million down round. 

Ethereum developers have executed the third and final test merge on the Goerli test network.

The post Ethereum’s final proof-of-stake ‘test merge’ is live on Goerli appeared first on The Block.

The CFTC has voted to propose a joint rule with the SEC that would require hedge funds to report cryptocurrency exposure.

The post CFTC proposes new crypto reporting rule for large hedge funds appeared first on The Block.

Here’s how crypto mining companies performed on Wednesday, August 10.

The post Bitcoin mining stock report: Wednesday, August 10 appeared first on The Block.

Paxos has landed another notable fintech partnership in Brazil with PicPay.

The post Paxos revealed as PicPay’s crypto partner in Brazil appeared first on The Block.

Co-founder Rory Felton says the team learned its lesson and will prioritize protecting ownership rights now that the platform is live.

The post After a rocky beta launch, music NFT platform HitPiece is prioritizing ownership rights   appeared first on The Block.

The Senators look to rescind guidance that had come out under the last year of the Trump administration. But it’s guidance that Biden’s officials have maintained. 

The post Progressive senators tell banking regulator to cancel Brian Brooks-era crypto guidance appeared first on The Block.