Blockchain Bites: Crypto's Bailout Millions, Brazil's Binance Ban, Lightning's Bug

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At least 75 crypto and blockchain firms received approximately $30 million in government-backed PPP loans during the COVID-19 economic crunch while Binance continues to donate personal protective equipment equipment through its charitable wing.

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Crypto LoansMore than 75 companies in the blockchain and cryptocurrency industry collected at least $30 million from the Paycheck Protection Program, a program meant to provide loans to small businesses affected by the COVID-19-led economic fallout, CoinDesk has found.

According to information published Monday by the U.S. Small Business Administration, loan recipients include Zcash developer Electric Coin Company, Ethereum venture studio ConsenSys and several crypto venture firms.

That's as the exchange acquired crypto wallet app

Mining DisclosuresIran's vice president issued a directive Monday that states crypto miners in the nation will have to disclose their identities, the size of their mining farms and their mining equipment type with the Ministry of Industry, Mines and Trade within a month.

ADA GainsCardano's ADA token has recorded a 170% return in the second quarter, propelling the crypto to its highest price level since June 2019.

According to Daniel Ferraro, marketing director at blockchain intelligence firm IntoTheBlock, ADA's impressive rally is the result of the excitement surrounding the "Shelley" upgrade, which would make Cardano 50 to 100 times more decentralized than other prominent blockchain networks, according to the company.

Exchange Losses Trading volumes on "Top tier" crypto spot exchanges fell by 36% in June, according to a report from London-based data provider CryptoCompare, potentially related to bitcoin's recent low volatility.

Crypto derivatives exchanges experienced a 35.7% drop in volume to $393 billion - the lowest monthly volumes since the start of 2020.