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PoW Hard Fork or Staking : ETH Merge Divides the Crypto Community

Ethereum co-founder Vitalik Buterin believes ETC is a better PoW alternative to Ethereum. EtherMine released a beta version of EtherMine Staking that will offer stake pool services for the post-Merge era. f2pool, the second largest Ethereum mining pool, acknowledges the new Era of PoS." Chainlink will no longer have proof-of-work (PoW) forks, while BitMEX has said it will launch a linear futures contract for its users to get exposure to ETHPOW.

Saniya Raahath
August 9, 2022
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The Singapore-based Lending Platform Hodlnaut Suspends Withdrawals

Key Takeaways: Hodlnaut announced that deposits, token swaps, and withdrawals were halted. Hodlnaut emphasized that this action was taken to stabilize liquidity and protect assets. Hodlnaut is currently collaborating on the plan’s execution, viability, and timeframe with the Singaporean law…

Aadrika Sharma
August 8, 2022
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The U.S. Adds Tornado Cash to its List of Cyber-Related Sanctions

Key Takeaways: Tornado Cash is subject to US Treasury sanctions now. The decision has made it impossible for American investors to use the contentious service. These sanctions are not shocking to many people. On Monday, the U.S. Treasury Department forbade…

Aadrika Sharma
August 8, 2022
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Crypto Community Reacts Negatively to the US Inflation Reduction Act

Act plans to decrease Inflation by raising an estimated $739 billion in revenue — $433 billion of which would be spent on energy and climate programs. Many argue the IRA Act could lead to Inflation and a possible recession. The Act allocates $45 billion to Internal Revenue Service specifically to provide digital asset monitoring and compliance activities.

Saniya Raahath
August 8, 2022
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A Regulator Study Shows that 7% of Adults in Spain are Crypto Investors

66% of the cryptocurrency investors in Spain are male, while 34% are women. 41% of those with paychecks over 3,000 euros have invested in crypto. 43% of the crypto investors have university diplomas

Saniya Raahath
August 8, 2022
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Crypto Scams on a Surge in Hong Kong, HK$388Mn Drained in First Half of 2022

798 crypto-related scams in the first half of 2022– a 105% increase from the same period in 2021 HK$387.9 million has been drained from Hong Kong-based digital asset firms and individuals between January and June 2022. Cryptocurrency scams make up the top 3 types of cyber crimes in Hong Kong.

Saniya Raahath
August 8, 2022
News

Central Bank of Brazil Director Calls Bitcoin a Financial Innovation

Araujo states Bitcoin is the catalyst for what is today known as Web3. Brazil is looking to launch CBDC called the digital real soon "The CBDC is an expression of the Real within the environment in which cryptocurrencies operate," says Araujo.

Saniya Raahath
August 7, 2022
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India Freezes Assets of Binance-Owned Local unit WazirX

Key Takeaways: Assets belonging to WazirX, which Binance acquired in 2019, have been frozen as part of an investigation into potential breaches of foreign exchange regulations. Assets worth $8.16 million, or 646.70 million rupees, were declared blocked by the ED.…

Aadrika Sharma
August 6, 2022
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Meta Introduces 100 more Nations to Instagram’s NFT Support list

Key Takeaways: Meta, Coinbase, and Dapper collaborate to roll out an NFT for Instagram users Mark Zuckerberg, the CEO, and founder of Meta posted an announcement about the rollout on Facebook. Following a successful testing phase in May, Instagram users…

Aadrika Sharma
August 6, 2022
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Bankrupt Voayger Digital Granted Permission To Return $270 Million To Users

Bankrupt Voyager Digital Granted Permission to Return $270 Million to Users

Voyager gets permission to return $ 270 million in customer cash held with Metropolitan Commercial Bank (MCB). Voyager is estimated to have over 100,000 creditors and between $1 billion and $10 billion in assets.

Saniya Raahath
August 5, 2022
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