Weekly digest for fast-moving tech

The Law Commission of England and Wales recommends the UK classify crypto assets as a new form of personal property, while the SEC faces a lawsuit over NFT regulations.

During a major market crash, Bitcoin fell below $50,000, its lowest in months. From August 4-5, Ethereum dropped to $2,200, mirroring declines across other leading cryptocurrencies.

Crypto whales are positioning for the next altcoin rally, while DeFi loans are surging to 2022 levels. This week, Finance Redefined explores these key developments in the DeFi landscape.

 Facing liquidity and security issues, Kujira plans to create an Operational DAO to stabilize its ecosystem after deploying funds led to exploits, attacks, and market destabilization.

Amid rising inflation concerns, BlackRock is considering Bitcoin as a hedge following allegations that a BLS economist leaked confidential inflation data to top Wall Street firms, including BlackRock.

Evernorth partners with t54 Labs to manage a billion-dollar XRP treasury using AI agents, while Ripple and DXC Technology integrate crypto services into core banking systems managing trillions.

The Fed keeps interest rates steady, signaling caution amid mixed economic signals and debates on managing inflation. A potential rate cut in September now seems uncertain. Stay tuned for updates.

Despite recent legal changes, the SEC likely still considers Solana a security, as it has not retracted its stance despite withdrawing a related court request in the Binance lawsuit.

Bitcoin's price dropped sharply from $70,000 to $66,500, losing nearly 6% in hours. The fall was triggered by $2 billion worth of BTC leaving a U.S. government-linked wallet.

The U.S. Food and Drug Administration (FDA) is rapidly integrating AI into its regulatory processes, aiming to enhance efficiency and reduce review times across all centers.