Mathisen Marketing

Your Marketing Blog

Ethereum completes merge, Do Kwon faces arrest warrant and Bitcoin dives after rally: Hodler’s Digest, Sept. 11-17

Ethereum completes merge, Do Kwon faces arrest warrant and Bitcoin dives after rally: Hodler’s Digest, Sept. 11-17

As an affiliate, we may earn from qualifying purchases. We get commissions for purchases made through links on this website.

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase!

Comes every Saturday, Hodler’s Digest to help you follow every important news that happened this week. The best (and worst) quotes, adoption and regulatory highlights, leading coins, predictions and more – a week on Cointelegraph in one link.

This week’s top stories

Breakthrough: Historic crypto day when Ethereum’s proof-of-stake merger takes place

Ethereum’s anticipated conversion to a Proof-of-Stake (PoS) consensus algorithm, dubbed “The Merge”, took place on September 15 at 6:42:42 UTC. The move is a key part of a comprehensive multi-year operation. transition to the Ethereum blockchain. “It starts a chain reaction of changes,” StarkWare co-founder and chairman Eli Ben-Sasson told Cointelegraph about the merger. The merger will reportedly help the Ethereum blockchain reduce its energy consumption by around 99%.

During the viewing party before the network moved to proof-of-work (PoW) PoS, Ethereum founder Vitalik Buterin said: “[It] has apparently been the dream of the Ethereum ecosystem almost since its inception. We started our proof-of-stake research with that Slosher blog post in January 2014.”

However, one party known as ETHW Core disagrees with the transfer, with the aim of maintaining PoW version of Ethereum via fork within 24 hours of merging. Several crypto exchanges plan to go public an asset related to the fork chain, ETHPoW (ETHW).

Abra announces plans for US bank to back digital assets

Digital asset trading platform Abra announced the formation of two financial institutions: a US bank and an international crypto business. Opening in 2023, the US government-chartered bank will operate under the name Abra Bank and will be compatible with digital assets in a form similar to traditional bank money, or so it seems. There are also plans for a branch called Abra International, which will be located outside the borders of the United States. The company intends to check all the appropriate boxes for Abra Bank and Abra International in terms of regulation.

Norway’s central bank uses Ethereum to build a national digital currency

Norway’s central bank, Norges Bank, is using the structure of the Ethereum blockchain to build a central bank digital currency (CBDC). The bank is still in the early stages of building a CBDC, but has released the asset through an open-source sandbox testnet. Many countries have expressed interest in or started working on a CBDC, although the assets do not necessarily need to be built on the blockchain. The Bahamas and Nigeria already have live CBDCs.

The SEC is handling the growing number of crypto issuer filings with specialized agencies

During the rest of 2022, the US Securities and Exchange Commission (SEC) will add a couple of new offices, one of which will help with its crypto oversight efforts. The Office of Crypto Assets, located under Corporation Finance’s Disclosure Review Program, reviews digital asset disclosures. The number of such filings in crypto sales has increased, likely due to the SEC’s increased activity in the crypto industry. This week, the US government also unveiled a multi-topic crypto regulatory framework, with nine government departments involved in creating the framework.

Possession of Bitcoin is still legal in China despite the ban, says lawyer

China’s cryptocurrency regulatory system remains unclear. “To date, holding crypto in China is not prohibited,” David Lesperance, founder of Lesperance & Associates, told Cointelegraph. In fact, crypto holders in the country are protected by law in cases of theft, embezzlement or breach of loan agreement. “It does not make the commercial trading of these types of properties legal because the government has specifically banned crypto exchanges in China,” he added.

Winnerds and losers

At the end of the week Bitcoin (BTC) I sat $19,462Ether (ETH) at $1,425 and XRP at $0.33. The total market value is $949.92 billion, by For CoinMarketCap.

Among the top 100 cryptocurrencies, the top three altcoin risers of the week are Celsius (CEL) 12.12%, compound (COMP) 10.97% and Kyber Network Crystal v2 (KNC) with 4.31 percent.

The top three altcoin losers of the week are Terra (LUNA) -49.07%, TerraClassicUSD (USTC) -29.01% and Terra Classic (OFF) in -26.47%.

For more information on crypto prices, be sure to read Cointelegraph’s market analysis.

The most memorable quotes

“I think the market, not just the crypto market but the stock market, is clinging to the hope that one day the Federal Reserve will magically say, ‘Well, I think this is the last rate hike or two.’

Marcel Pechmanmarket analyst and contributor to Cointelegraph

“NFTs in music are genre-defying. We see much more diversity and creative freedom in NFT – as if artists are finally free to create for the sake of creating and not fit into algorithms.

Adrian Sternco-founder and CEO of Reveel Technology

“DeFi insurance is a sleeping giant. With less than 1% of all cryptos covered and DeFi less than 3%, there is a huge untapped market opportunity.

And ThomsonDirector of Marketing at InsurAce

“If enough people end up behind bars for whatever reason, we believe the free market will decide what should live and what shouldn’t.”

Bradley DukeCo-CEO of ETC Group

“It is a significant sign of success when the first [Ethereum] the block is produced as proof-of-stake. But this is like completing a rocket launch – we still have the rest of the journey ahead of us, which presents its challenges.

That is, Ben-Sassonco-founder and chairman of StarkWare

“Web3 strives to safeguard individuals’ rightful demands to be in full control of their data and to prioritize privacy in their online lives.”

Úrsula O’KinghttonsDirector of Communications and Partnerships at Web3 Foundation

Prediction of the week

Bitcoin price threatens $19.6k as Ray Dalio predicts 30% stock crash

Bitcoin rose above $22,000 this week, but later fell back below the $20,000 mark in the following days, according to Cointelegraph’s BTC Price Index.

Billionaire investor and hedge fund manager Ray Dalio expects traditional markets to face downward pressure due to accelerating inflation and rising interest rates. Crypto assets have been trading alongside traditional markets recently.

“I estimate that an increase in interest rates from today to about 4.5 percent will have about a 20 percent negative impact on stock prices (on average, though more for longer-dated assets and less for short-dated assets) based on the present value discounting effect and about a 10 percent negative impact from the decline in earnings,” Dalio said in a blog post 13 .September.

FUD of the week

Thailand’s SEC plans to ban crypto lending in the country

Thailand’s Securities and Exchange Commission wants to ban “digital asset traders” from offering crypto lending and staking services to customers, according to a Sept. 15 announcement by the government agency. The announcement asks for feedback from the public on a possible ban, and October 17 is the time to weigh in on the matter.

South Korea has issued an arrest warrant for Terra founder Do Kwon

South Korean authorities are reportedly looking for six people, including Terraform Labs founder Do Kwon, although Kwon and others are currently in Singapore. Six people are said to be the subject of an arrest warrant issued by a court in Seoul. Kwon allegedly violated capital markets law in South Korea, according to prosecutors. Terraform Labs runs the Luna crypto project, which suffered a dramatic demise earlier in 2022. Saw more news prosecutors tried to revoke the passports of the six, all of whom were involved in the Luna crypto project. In addition, prosecutors are seeking an international arrest warrant to arrest six people.

Stone Ridge’s board approved a plan to “liquidate and liquidate” its Bitcoin fund.

Stone Ridge’s Bitcoin Strategy Fund will close after October 3rd, with liquidation expected around October 21st. On September 9, Stone Ridge Trust’s board of directors voted to liquidate the fund, according to a filing with the US SEC this week. . The fund uses futures products in part to give investors exposure to Bitcoin.

Best features of cointelegraph

Ethereum Eats the World – “You Only Need One Internet”

“Do you need more than one internet? And we know the answer is ‘hell no’.”

A Guide to Real-Life Crypto OGs You’ll Meet at Parties (Part 2)

“I think the OGs are serious believers who went all-in when no one else was paying attention to the space.”

Boom and Bust: How Do Defi Protocols Handle Bear Markets?

See how DeFi protocols have fared in recent bear markets and the importance of continuing to build during market downturns.

The Best of Blockchain Every Tuesday

Order thought-provoking research trips and leisurely readings from the magazine.

By ordering, you accept our terms of service and privacy policy

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase!

Source link

Leave a Reply

Your email address will not be published.

Latest Posts