While Bitcoin and Ethereum have had a relatively non-eventful week, the DeFi and NFT sectors have seen some exciting upgrades and developments. Investments in crypto projects and metaverse expansions in the space have also kept matters interesting in the industry. Let’s take a quick look.
Bitcoin
Bitcoin has won favor with both Michael Sayler and El Salvador’s president. Both have said that choosing Bitcoin over gold has made their company/country millions in the short time since they bought it.
Craig Wright, an Australian computer scientist who has claimed that he invented Bitcoin since at least 2016, was ordered by a U.S. jury to pay $100 million in damages to the estate of David Kleiman.
Ethereum
The co-founder of Ethereum, Vitalik Buterin, detailed his plans to elevate the upcoming ETH 2.0 upgrade to improve scalability, trustlessness, and censorship resistance.
DeFi
Leading US crypto exchange, Coinbase, has announced that it has launched yield earning for its customers from over 70 countries, with a new program for exposure to decentralized finance.
Indian billionaire entrepreneur Mukesh Ambani spoke out in support of the upcoming cryptocurrency legislature, claiming the country could lead the global movement in blockchain and DeFi technology.
A security firm has confirmed a “large scale security breach” from crypto trading platform BitMart, with losses, initially believed to be around $150 but later estimated at closer to $200 million.
Business
Facebook, recently rebranded as Meta, has launched the Novi Wallet, which will allow some US customers to send and receive money through its messaging app WhatsApp.
Ethereum-based scaling solution Polygon has announced its $400 million acquisition of Mir Protocol, a zero-knowledge cryptography startup.
Technology
Crowdfunding platform Kickstarter will be supporting the development of an open-source protocol that would create a decentralized version of Kickstarters core functionality.
The BIS Innovation Hub held a livestream event announcing the opening of their BIS Innovation Hub Eurosystem Centre.
Regulation
Brazil’s House of Representatives has approved a bill to regulate cryptocurrencies like Bitcoin.
The Australian central bank is still not sure about the legitimacy of cryptocurrencies. According to its governor, regulators are still trying to ascertain the risk levels of crypto-assets.
NFT
Pepsi has launched the one-of-a-kind Pepsi Mic Drop Genesis NFT Collection, celebrating its roots in music.
The video game company Ubisoft has launched Ubisoft Quartz, the first platform for playable and energy-efficient NFTs in AAA games on the Tezos blockchain.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
