The Sky community voted to allocate up to $2.5 billion to projects incubated by the Framework-backed Obex initiative. Framework is leading a $37 million funding round into the Obex incubator and will administer the project.

[The Three Major U.S. Stock Indexes Closed Lower, Pinduoduo Fell Over 7%] U.S. stocks closed on Tuesday, with the Dow Jones down 1.07%, the S&P 500 down 0.82%, and the Nasdaq down 1.2%. Pinduoduo fell over 7%, Nvidia dropped 2.8%, and Amazon declined 4.4%. The Nasdaq Golden Dragon China Index rose 0.4%, Alibaba gained 1.2%, and Baidu increased 2.6%.

Banks may have to pay network fees as part of doing business and hold crypto on balance sheets to pay those fees, the bureau said in its Interpretive Letter 1186 on Tuesday. The OCC referred to Ethereum as an example, saying that the Ethereum network requires transactions to be denominated in ETH.

[Saudi Crown Prince Plans to Increase Investment in the U.S. to $1 Trillion] The Saudi Crown Prince announced plans to increase investment in the United States to $1 trillion. U.S. President Trump previously stated that Saudi Arabia had agreed to invest $600 billion in the U.S. and mentioned that this figure could potentially rise further.

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