Crypto News Not to Miss Out
The Merge scheduled for next week
According to developers, the Merge will take place in two steps:
- The network upgrade, Bellatrix, is set on the Beacon Chain for September 6.
- Then the PoW chain has to migrate PoS as soon as it hits the Terminal Total Difficulty. It depends on the PoW hash rate and is expected from September 10 to September 20. The estimated date is September 14.
Before the Merge, Hetzner provider warns mining violates its ToS
Roughly 15% of Ethereum nodes rely on this cloud storage provider. So, Ethereum might be at risk right before the crucial moment in its history. The company warned that using any of its products for any mining-related apps means a violation of its terms of service.
Miners have been using its services for years for years, and no one has been banned so far. But some actions might be taken in the future. Seems miners should take action as well since centralized stack can’t work for decentralized blockchain anymore.
Mt. Gox creditors one step closer to repayments
The bankrupt exchange trustee has announced the restriction reference period starting on September 15. It’s a date for internal transfers to become unavailable. It’s still unknown when the period ends, but the first repayment will follow it. However, there’s no timeline for repayment.
Creditors also said the rumors about the 137,000 bitcoin dump were fake as the system is not live.
NFT posts coming to Facebook and Instagram
To share collectibles, you’ll have to connect your crypto wallet to social media. Currently, MetaMask, Rainbow, and Trust Wallet are supported. Coinbase and Dapper are to come later. The service supports Ethereum, Polygon, and Flow.
Earlier, Meta announced the expansion of the new option to 100 geos and said there were no fees for posting. However, users are concerned about security and privacy since there’s no clear info about how Meta is going to protect connected wallets’ data. The company’s long list of data breaches undermines trust.
Research: there’re 10,000 cryptocurrencies, 70% up in a year
February 2022 was a record month with 10,397 cryptocurrencies circulating. Last month, the number fell to 10,000. Anyway, it’s 70% growth compared to 2021. And a whopping 151.5x growth compared to 2013.
Crypto.com sent a woman $10 million by accident and then sued her
Last year, a woman in Melbourne asked for a $100 refund but mistakenly got $10 million. Well, she didn’t get lost and allegedly bought a luxury house. The exchange realized its mistake only in 7 months and sued her to sell the house and return the money.
We wonder what happened to the employee who had mixed up sections for an account number and transfer amount.
US Congress requires crypto exchanges to report on combating fraud
Coinbase, FTX, Binance.US, Kraken, and KuCoin have got letters asking to provide information and documents telling how they protect users from scams and fight fraud by September 12. The feedback could help the authorities develop a legislative framework.
Argentinian province to accept crypto for tax
Mendoza residents will be able to pay taxes and fees with stablecoins. However, the provider will convert crypto into pesos to make a payment.
Earlier, Buenos Aires announced accepting BTC for tax payments and fees, and Binance partnered with Mastercard to bring Argentinians a crypto rewards card.