GM, this is The Crypto Explorer, the only newsletter with headlines so hot our writer can't stand the heat! 🥵

Here’s what we got for you today:

• 🎉 Aave Protocol's “GHO” Stablecoin Hits the Market!

• 💃 Binance Now Supports Lightning Network for Bitcoin!

• 🧱 Around The Block: SEC accepts BlackRock’s Bitcoin ETF application, signaling regulatory review.

 🎉 Aave Protocol's “GHO” Stablecoin Hits the Market!

Aave Protocol has launched its new algorithmic dollar-pegged stablecoin “GHO” on the Ethereum mainnet.

And so far, a whopping $2.19 million worth of GHO has already been minted.

It’s no surprise since the launch of GHO followed a community governance vote, in which almost 100% of the 424 participating addresses voted in favor of the stablecoin. 😃

So what sets it apart?

The Company’s blog post described GHO as a “decentralized, over-collateralized asset” backed by various digital assets, including Ethereum's native currency Ether (ETH) and Aave's native token AAVE.

But most importantly, unlike other centralized stablecoins, which have faced criticism for their lack of transparency, GHO's underlying assets are transparent and verifiable through on-chain data.

Oh, and did we mention that the revenue generated from GHO will go straight into Aave's decentralized autonomous organization (DAO) treasury?

Yep, and its governance will be entrusted to AAVE and stkAAVE token holders.

The GHO stablecoin is currently available to the public.

💃 Binance Now Supports Lightning Network for Bitcoin!

Binance has officially integrated the Bitcoin Lightning Network on its platform!

Users now have the option to select "LIGHTNING" when depositing or withdrawing Bitcoin, alongside other available options such as BNB Smart Chain, Bitcoin, BNB Beacon Chain, BTC (SegWit), and Ethereum ERC-20.

See the Company’s blog Post for more details on the integration.

But let's rewind a bit; this integration has been in the works for some time now.

Binance first hinted at the integration of the Lightning Network in May after it had to temporarily pause BTC withdrawals due to a flood of pending transactions caused by “the recent surge in BTC network gas fees.”

And on June 20, Binance confirmed the integration when some eagle-eyed users spotted new lightning nodes on the platform.

It's worth noting that Binance isn't the only trailblazer in this realm.

Other prominent exchanges like Bitfinex, River Financial, OKX, Kraken, and CoinCorner have already embraced the Lightning Network.

Even Coinbase CEO Brian Armstrong also signaled his intention to integrate the Bitcoin layer 2 network on Coinbase.

So, let’s brace up for faster and cheaper Bitcoin transactions with the Lightning Network.💪 

🧱 Around The Block: SEC accepts BlackRock’s Bitcoin ETF application, signaling regulatory review.

• 🤖Bitcoin ETF: SEC accepts BlackRock’s Bitcoin ETF application, signaling regulatory review.

• ⚖️Ripple case: SEC appeals unlikely as agency gains from ‘current confusion’ — Haun Ventures CEO.

• 🚨Transition: Celo blockchain proposes a return to the Ethereum ecosystem and transition to L2.

• 📑Report: US ‘dominates’ crypto startup funding in Q2.

That's all we've got for you today.

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In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be NEW”