Get the daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the tales flying individually distinct of today’s crypto news.
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Blockchain news
- Ethereum (ETH) developer Tim Beiko suggested September 19th because the tentative date for that lengthy-expected Merge which will begin to see the network transition from proof-of-work (Bang) mining consensus to proof-of-stake (PoS). Ethereum also effectively completed its ninth shadow fork, which went live 15 hrs in front of schedule and centered on testing Ethereum’s so-known as maximal extractable value (MEV) boost feature.
Legal news
- Liquidator Teneo has hired Singapore-based law practice WongPartnership to petition the High Court for provisional relief that will allow Teneo to manage crypto hedge fund Three Arrows Capital’s assets within the city-condition and subpoena co-founders Su Zhu and Kyle Davies, the Straits Occasions reported. If effective, Teneo could secure Three Arrows’ assets in Singapore for that hedge fund’s creditors, they stated.
Investment news
- Crypto hedge fund DeFiance Capital stated it had been “materially affected” and “prejudiced” through the liquidation of rival fund Three Arrows Capital. They claimed their Chief executive officer Arthur Cheong had “no visibility” on Three Arrow Capital’s fiscal reports or conditions.
Regulation news
- US Registration (SEC) Chair Gary Gensler stated the agency might consider exempting crypto companies from certain securities laws and regulations, wishing the exemption will persuade more crypto companies to conform with rules generally. However, also, he stressed that several crypto companies were operating outdoors compliance standards, though he didn’t highlight any sort of names.
- The European Central Bank (ECB) printed a study that claims the combined carbon footprint for bitcoin (BTC) and ether negates the green house gas (GHG) emission savings for many Eurozone countries by May 2022. The authors deem all blockchains in line with the Bang consensus mechanism as non-sustainable, putting the entire eco-friendly transition project in danger.
- The Blockchain and Crypto Assets Council (BACC), the advocacy body representing Indian crypto industry interests, continues to be dissolved by its parent organization, the Internet and Mobile Association asia (IAMAI), CoinDesk reported, citing an announcement. IAMAI made a decision without discussing the problem using the BACC, the opening added.
CBDC news
- China has formally expanded its digital yuan pilot zone to 23 locations, according to local news outlets.
NFT news
- Metaverse project Mandala announced a partnership with layer-2 solution Immutable X to construct a multi-platform interoperable metaverse.
- Non-fungible token (NFT) marketplace OpenSea announced mass layoffs, as high as 20% of their staff, because of “an unparalleled mixture of crypto winter and broad macroeconomic instability.”
DeFi news
- Crypto exchange DeversiFi announced it’s transforming into rhino.fi, a “gateway” to decentralized finance (DeFi), that they say offers users “access towards the multi-chain world from one application.” The work is expanding to incorporate other sovereign chains, including BNB, Avalanche (AVAX), and Arbitrum, in addition to Ethereum Layer 2 Optimism, and it’ll link using the Cosmos (ATOM) and Polkadot (Us dot) environments.
