DeFi News Roundup: July 12 Week

July 12: Wyoming legally recognizes first DAO in the United States

Wyoming legally recognizes first DAO in the United States
Image via Cointelegraph

The first officially recognized decentralized autonomous organization (DAO) in the U.S. has been authorized in the crypto-friendly state of Wyoming. According to a Monday press release, the Wyoming Secretary of State’s office has formally acknowledged the American CryptoFed DAO as a legal organization. 

“Wyoming is the leading digital assets jurisdiction in the USA, and now with this DAO law, Wyoming is arguably the top blockchain jurisdiction in the world. What this means is that creating a true digital currency with mass acceptance is now possible.”

July 13: S&P Dow Jones Launches 5 More Crypto Indexes

Dow Jones Launches 5 More Crypto Indexes

On Tuesday, the S&P Dow Jones Indices, which launched their new cryptocurrency indices in May, debuted five additional products. As of Tuesday, an S&P representative told CoinDesk, “The new subindices offer additional ways to slice and dice the BDM by market size, so investors may monitor various sectors of the market.”

CoinGecko currently places HXRO at 240th place in terms of market capitalization. However, it is unknown whether the selection criterion of S&P is dependent on market capitalization. One of the main goals of these new products is to control the Wild West-Esque crypto markets, reducing the markets into something more manageable for Wall Street.

July 14: Why Capital International’s $600M Investment In MicroStrategy Matters To Bitcoin

Why Capital International's $600M Investment In MicroStrategy Matters To  Bitcoin

Capital International recently invested in one of the most discussed companies in 2021. The fact that the business is seeking a strategy it has never used before, but which involves a highly experimental digital asset, causes a stir in the industry.

In an SEC filing, MicroStrategy said that 953,242 shares of its stock were acquired by Capital International investors during the second half of 2021. At the time of the publishing of this news, MicroStrategy’s stock price increased by over 1.5% to $628.44.

July 15: Fidelity Digital Assets to Increase Headcount by 70%

Fidelity Digital Assets to Increase Headcount by 70%

Fidelity Digital Assets is planning to almost double its workforce. Bloomberg News reported that the asset management is seeking to recruit approximately 100 employees in Dublin, Salt Lake City, and Boston. The employees will be asked to create new and innovative products, as well as broaden their offerings to include other cryptocurrencies. 

Fidelity is planning to provide trading days throughout the week since 24-hour markets for cryptocurrencies are the norm. Day-to-day operations in the financial markets are conducted from Monday to Friday, and they stop at night.

July 16: How the Mina Protocol can benefit Web 3.0

Mina Protocol - The world's lightest blockchain | Product Hunt

ChainSafe is extremely pleased to have been granted to finish the implementation of the Mina Protocol in Rust. A major emphasis of the firm’s effort will be developing lightweight non-consensus complete nodes which can operate in Wasm environment. 

What the ChainSafe team will accomplish at the conclusion of implementing the Mina Protocol in Rust will be lightweight non-consensus full nodes. In normal situations, complete nodes are client software that fully verifies transactions and blocks in a system. Since it validates all consensus criteria and synchronizes the complete recent transactions of a distributed ledger, it is considered the most reliable client software interfacing with any blockchain.

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