Hello, ApolloXplorer!Have you seen today’s key headlines yet?<h2 id="header-0">#1. 1.2 billion aUSD burned</h2>Acala’s native stablecoin aUSD regained to $0.93 after over 1.2 billion aUSD tokens were burned.Acala had held a community vote that proposed burning the tokens after aUSD plunged from roughly $1.03 per token to $0.009 following an exploit.Exploiters had minted the aUSD by taking advantage of a bug in one of the platform’s liquidity pools.Source: <a href="https://www.coindesk.com/tech/2022/08/16/acala-stablecoins-nears-1-peg-after-community-burns-12b-ausd-minted-by-exploiters/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-1">#2. BitGo sues Galaxy Digital for $100 million</h2>Crypto custody company BitGo plans to sue Galaxy Digital for backing out of the firms&#39; $1.2 billion merger agreement.BitGo said it will seek $100 million in damages from Galaxy. Galaxy is allegedly refusing to pay this breakup fee.A spokesperson for Galaxy said that Galaxy exercised a contractual right to terminate the agreement.Source: <a href="https://www.coindesk.com/business/2022/08/15/crypto-custody-firm-bitgo-to-sue-galaxy-digital-for-abandoning-12b-merger-agreement/" rel="noopener noreferrer nofollow">CoinDesk</a><h2 id="header-2">#3. Coin Center challenges Tornado Cash sanctions</h2>Crypto policy think tank Coin Center is considering a court challenge to the U.S. Treasury’s sanctioning of crypto mixer Tornado Cash.The sanctions targeted the smart contract that runs Tornado Cash and a fleet of crypto wallets associated with the coders behind the project.Coin Center argues that smart contracts cannot be sanctionable entities and that such a standard would be dangerous for coders worldwide.Source: <a href="https://www.theblock.co/post/163585/coin-center-prepares-legal-challenge-to-treasurys-tornado-cash-sanctions" rel="noopener noreferrer nofollow">The Block</a><h2 id="header-3">#4. Zipmex gets 3-month protection in Singapore</h2>A court in Singapore has granted crypto exchange Zipmex with more than three months of creditor protection.Each of the five Zipmex entities has a moratorium until December 2, 2022, to come up with a restructuring plan.The exchange had abruptly halted crypto withdrawals on its platform in mid-July.Source: <a href="https://cointelegraph.com/news/zipmex-gets-3-month-protection-in-singapore-amid-halted-withdrawals" rel="noopener noreferrer nofollow">Cointelegraph</a><h2 id="header-4">#5. 19 celebs called out for shilling NFTs</h2>Consumer watchdog group Truth in Advertising (TINA.org) has called out 19 U.S. celebrities and sent them letters.It alleged that these celebs promoted NFTs without disclosing their connections to the projects. Justin Bieber and Paris Hilton were among those in the list.No real legal penalty has been attached.Source: <a href="https://cointelegraph.com/news/19-celebrities-called-out-by-consumer-watchdog-group-for-shilling-nfts" rel="noopener noreferrer nofollow">Cointelegraph</a>--The ApolloX app is available on Apple Store or Google Play <a href="https://apollox.onelink.me/rf4R/newscryptowndl" rel="noopener noreferrer nofollow">here</a>.Stay up to date with ApolloX!<a href="https://t.me/apollox_com" rel="noopener noreferrer nofollow">Telegram</a> |<a href="https://twitter.com/ApolloX_com" rel="noopener noreferrer nofollow"> Twitter</a> |<a href="https://www.facebook.com/ApolloXcom" rel="noopener noreferrer nofollow"> Facebook</a> |<a href="https://www.instagram.com/apollox_com/" rel="noopener noreferrer nofollow"> Instagram</a> | <a href="https://apollox.link/blog-discord" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://apollox.link/blog-APXNewsStation" rel="noopener noreferrer nofollow">ApolloX News Station</a>

Crypto News of the Day: 1.2b aUSD burned to regain peg, Coin Center challenges Tornado Cash sanctions

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