Crypto News Not to Miss Out
The White House announces crypto regulation framework
The document doesn’t implement new rules. It’s focused on providing a clearer vision of the regulatory framework. Its main topics are consumer and investor protection, financial stability, CBDC, affordable services, and more.
The Merge is finally complete
On September 15, Ethereum shifted to proof-of-stake. It means now Ethereum will use up to 99% energy less. It is also a starting point for future scaling solutions that will allow people to use blockchain-powered apps in various areas. When all the stages are complete, Ethereum will be able to process “100,000 transactions per second.”
Over the past 24 hours, the ETH price dropped almost 10% amid the news about the successful Merge. The team behind proof-of-work-based Ethereum announced they’d launch their fork soon after the Merge. And some more news: Bank of America says the shift to PoS can make Ethereum more attractive for investors.
The 1st NFT on PoS Ethereum costs over $60,000 in gas fees
“The Transition” was minted just 17 seconds after the Merge. It’s a part of the 100 NFTs collection of the same name. The collection features a panda and main details about the Merge, such as difficulty.
By 2030, tokenized assets to make up 10% of global GDP
According to the Boston Consulting Group research, the tokenized market will grow from an estimated $310 billion to $16 trillion due to the rise in blockchain adoption. The main reasons for such a rise are:
- Increase in the trading volume of crypto
- Recognition of regulators
- More assets digitization.
Vietnam, the Philippines, and Ukraine are the top 3 countries in the Global Crypto Adoption Index
India is #4 and the US is #5. The top 10 also include Pakistan, Brazil, Thailand, Russia, and China. So, emerging markets dominate the list, with ½ of the countries representing lower-middle-income economies.
Chainalysis has evaluated countries using 5 criteria, including P2P exchange trading volume, crypto and retail value from DeFi protocols, the volume of deposits on exchanges, and more.
SWIFT to implement blockchain into the international payments system
The system has teamed up with Symbiont, a fintech firm, to launch a pilot. SWIFT plans to use smart contracts and blockchain options to reconcile data from various sources, compare it, and point to inconsistencies. Blockchain is anticipated to enhance the efficiency and speed of data processing.
$125 million to back emerging Web3 companies
North Island Ventures creates a new fund to invest in developing crypto and Web3 firms. It plans to make 30–40 investments of $250,000 — $3 million. The funds will help support companies developing multiple-layers apps, dealing with NFTs, blockchain security, DeFi, cross-chain, and more.
1Inch warns of a vulnerability in the Profanity tool
The team warned users their funds are not safe if Profanity was used to generate a wallet address. The assets should be transferred to a different wallet as soon as possible.
The vulnerability has put hundreds of Ethereum addresses at risk. The 1Inch team says millions or even hundreds of millions of dollars could have been stolen.
Starbucks partners with Polygon for an enhanced loyalty program
The coffee chain fans can now join the Starbucks Odyssey waitlist. It’s a digital community with Starbucks Rewards and the NFT platform. Users will be able to earn and buy digital collectibles granting access to more rewards.
Currently, Starbucks Odyssey is available in the US.