Here's your Friday edition of Cryptonews Crunch, featuring the latest stories with Nomad announcing a bounty for the return of USD 190m stolen from the Nomad Bridge, Justin Sun and Poloniex will support the proposed proof-of-work fork for Ethereum after the Merge, and Arthur Hayes apologizes for calling Ethereum a shitcoin.
|
|
|
|
Source: CoinMarketCap.com
|
|
|
|
- Cross-chain messaging protocol Nomad announced a bounty of up to 10% for the return of the (majority of the) USD 190m stolen from the Nomad bridge on August 1. The team further said that they consider anyone who returns at least 90% of the total funds they stole to be a white hat hacker – and that they will not pursue legal action against any white hat hackers. The announcement also confirmed that “more than [USD] 20 million [has been] recovered to date” – meaning that the team is in search of some USD 170m more.
- Ethereum miners fearing the worst should the network’s much-vaunted move to proof-of-stake (PoS) go ahead next month could be thrown a lifeline – with Tron Founder, Justin Sun and his Poloniex crypto trading platform stating that they will provide support for a proposed proof-of-work fork (PoW) fork. Chinese miner Chandler Guo, said he will fork the Ethereum network to create a PoW “version” of ETH. Sun has suggested that he will back the move. In a tweet, he wrote that Poloniex “currently has” more than ETH 1 million, adding: “If [the] Ethereum hard fork succeeds, we will donate some forked ETHW to [the] ETHW community and developers to build [the] Ethereum ecosystem.”
- Voyager Digital has been given the green light to return USD 270m worth of funds to its customers. The move was approved by the Bankruptcy Court in New York where the company’s case is being heard, the Wall Street Journal reported.
- Former BitMEX CEO Arthur Hayes apologized for calling Ethereum (ETH) a shitcoin years ago and argued that the Merge is “extremely bullish” for the price of ETH.
- In the first half of 2022, crypto payments represented 5% of wages collected by cross-border professionals, up from 2% in the preceding six-month period. Crypto payments are particularly popular in regions with significant currency volatility, with Latin America leading the way, at 67% of the global withdrawn crypto payments between January and June 2022. Europe, the Middle East, and Africa were ranked second, with a 24% stake, followed by North America, at 7%, and the Asia-Pacific region, with a share of 2%, according to global payroll specialist Deel.
- According to a dashboard tracking metaverse sales by Dune Analytics, almost all projects have seen a significant drop in the sales volumes and average prices of their virtual land. The average price of virtual land in Decentraland dropped to its lowest level in the past 24 months, plunging to around USD 4,006 in the past month. In comparison, the average price of land here was around USD 17,736 in July 2020. Similarly, the average price of land in The Sandbox has dropped significantly compared to January 2022's high of USD 6,291, plunging to USD 3,377 in July. NFT Worlds has taken an even harder hit, with its average price dropping to USD 2,328 in July this year, down from March's high of USD 18,095.
|
|
|
|
Promotion
Use this FTX referral link and get a 5% fee discount!
|
|
|
|
|
|
- Binance and Mastercard announced the launch of Binance Card in Argentina as the first country in Latin America to have the product. The Binance Card issued by Credencial Payments will allow all new and existing Binance users with a valid national ID to make purchases and pay bills with crypto, including Bitcoin and BNB, at over 90m Mastercard merchants worldwide, both in-store and online. The product is in beta phase and should be widely available in the coming weeks.
- London-based fintech firm Revolut plans to increase its crypto headcount by 20% across Europe, the UK, and the US over the next six months, Bloomberg reported. It is currently advertising for 13 crypto-focused roles, and has already hired 43 crypto staff this year, tripling the team’s total headcount since July 2021. “We see crypto as a long-term play and remain bullish on the crypto industry,” Emil Urmanshin, Revolut’s crypto general manager, is quoted as saying, adding that the business currently accounts for about 5% to 10% of Revolut’s revenue globally.
- Cash App generated USD 1.79bn of Bitcoin revenue and USD 41m of Bitcoin gross profit during the second quarter of 2022, down 34% and 24% year over year, respectively, the parent of the firm, fintech giant Block, said. Meanwhile, Block itself reached net revenue of USD 4.40bn in Q2, down 6% year over year, driven by a decrease in Bitcoin revenue.
- Major derivatives marketplace Chicago Mercantile Exchange Group (CME) plans to expand its crypto derivatives offering with the introduction of Bitcoin Euro and Ether Euro futures on August 29, pending regulatory review. Designed to match their US dollar-denominated counterparts, the two futures contracts will be sized at BTC 5 and ETH 50 per contract, it said.
- Community members Devin Walsh and Kenneth Ng put forth a proposal to create the Uniswap Foundation. The Foundation’s mission will be to support the decentralized growth and sustainability of the Uniswap Protocol and its supporting ecosystem and community, Walsh said. The initial team would be Walsh as Executive Director and Ng as Head of Operations.
- After two attempts, the Lido community has voted to sell LDO 10m (USD 26.1m) from the Lido DAO treasury to crypto investment firm Dragonfly Capital. Just above 99% of votes went for the proposal, and less than 1% against.
- Bitcoin miner Core Scientific announced production and operational updates for July 2022, including: producing 1,221 self-mined bitcoins, deploying 14,000 new ASIC servers, operating approximately 195,000 owned and colocated ASIC servers, and deploying first Bitmain Antminer S19 XPs in the US. The company sold BTC 1,975 at an average price of approximately USD 22,000 per BTC for total proceeds of approximately USD 44m. As of July 31, it held BTC 1,205 and approximately USD 83m in cash on its balance sheet.
|
|
|
|
Never lose your seed phrase again! The CRYPTOTAG hardware wallet is fireproof, waterproof, and resistant to corrosion, erosion, and physical damage - it is the most durable backup seed storage solution.
THIS IS FOR THE HODLERS®
|
|
|
|
|
|
|