This is the Crypto Weekly Roundup: MicroStrategy Will Keep Splurging Bitcoin, Ethereum’s Merge Trials Worked, Circle Raised $400 Million, Ronin Hacked, and a lot more.
The crypto world has had another busy week, and there are a lot of important things to write about. The US Treasury Department was able to figure out who was behind the attack on Axie Infinity, and Ethereum was able to successfully merge trials on a shadow fork. There were a lot of changes in the last week. Let’s take a quick look at them.
MicroStrategy’s Bitcoin spending spree will keep going for a long time.
MicroStrategy’s CEO, Michael Saylor, has said that the company will keep going with its reserve asset strategy at least for the time being. This means that the company will keep buying and holding on to bitcoins for the time being. As of now, MicroStrategy has 129,218 BTC in its single wallet, which is worth about $5.1 billion. This means that the company has a lot of money.
Coins could be taken down by Nasdaq.
Market watchers are worried that if the Nasdaq 100 goes down, Bitcoin could go down with it, which could make it crash to $30,000. This is because Bitcoin is seen as a growth stock by the market. He says that the co-founder of Bitmex, Arthur Hayes: “Bitcoin could fall before the next bull market starts. It could also fall along with the Nasdaq 100. “
Ethereum and Ethereum Merge Trials Worked Out.
Ethereum changed from Proof-of-Work to Proof-of-Stake.
As of now, Stake looks like it’s going well after the merge testing stage, which was done on a shadow fork, a private mainnet staging area for testing. When you do a shadow fork test, you do one of two things before you can make the upgrade live.
DeFiBloXroute raises $70 million in its second round of funding.
BloXroute, a startup in the field of decentralized finance, has raised $70 million in its second round of funding. The money will be used to build the startup’s blockchain distribution network. Some of the other people who took part in the round were blindspots, flow traders, dragonflies, and GSR. The round was led by SoftBank Vision 2 Fund.
In a partnership with BlackRock, BusinessCircle raised $400 million.
One of the companies behind the stablecoin called USDC is Circle Internet Financial. It has raised $400 million with the help of BlackRock Inc., Fidelity Management and Research, Marshall Wace LLP, Fin Capital, and other companies. Circle hopes that the company will be able to move into new areas of traditional finance with the money it has just raised.
After the most recent round of funding, Ava Labs is worth $5 billion.
As of now, Ava Labs is worth more than $5 billion, making it one of the most valuable crypto startups out there. A new funding round for the startup has brought in $350 million, which is a lot.
Blockchain.com and the Dallas Cowboys have announced a sponsorship deal.
Blockchain.com says that it has reached a sponsorship deal with the Dallas Cowboys. There was a deal that made blockchain.com the first crypto platform for American football. This makes them the first. According to the deal, Blockchain.com would be able to put ads inside the AT&T stadium.
This is the world’s first crypto-backed payment card. Nexo and Mastercard made the announcement today.
A crypto lending platform called Nexo says it will be launching the world’s first crypto-backed payment card with Mastercard. Users will be able to spend money on the card without having to sell any crypto assets they may have in their account. However, at first, the card will only be available in a few countries in the European Union.
Celsius has announced the launch of a new custody solution.
A crypto lending platform called Celsius has announced that it has added a new way for people to keep their money. It also made changes to its Earn Rewards Program. The platform said that most of its US users would not be able to get crypto rewards because of rules set by the Securities and Exchange Commission.
Uniswap Labs wants to grow its Web 3.0 presence.
A new venture arm called Uniswap Labs has been set up. It will look to invest in Web 3.0 and other crypto companies that are in different stages of development. The goal of the new project is to help with infrastructure, developer tools, and consumer-facing apps.
Ubisoft wants to grow its cryptocurrency footprint.
Ubisoft is trying to get more involved in the crypto world. The company is investing a lot in a digital assets fund started by White Star Capital, which has a lot of money in the fund. The fund wants to raise $120 million, which would help small and medium-sized businesses that want to get crypto into the mainstream.
Regulation Russia wants to set up a new cross-border cryptocurrency settlement.
Sergei Katyrin, the head of Russia’s Chamber of Commerce and Industry, has proposed a new way to pay for things like imports and exports with cryptocurrency. The new plan is expected to make a big difference in how African countries treat each other.
Secretary Yellen says that crypto has the power to change the world.
When Janet Yellen gave a speech at the American University in Washington, DC, she talked about a lot of different things, from innovation and regulation to digital assets policy. She also said that cryptocurrencies have a lot of great potentials, but she also said that the government should keep its own currency.
NFTLazarus is to blame for the Ronin hack.
The Ronin Validator was hacked by the Lazarus Group, a group from North Korea. They were found to be behind the attack on Ronin and Axie Infinity. This came after the US Treasury identified the hacker wallet as one that had recently been sanctioned by the government. The wallet is said to belong to the Lazarus Group.
Dorsey’s first tweet didn’t get a lot of attention.
Jack Dorsey’s first tweet, which was sold to a crypto entrepreneur for $2.9 million, didn’t get much attention when it was put back on sale for $48 million. That was not the case, though. The NFT only got an offer of $280.
The Australian Cricket Team goes into NFTs.
This is the first sports team to join the NFT movement, and Australia’s cricket team is the latest to do so. They’ve made digital collectibles that will show some of the most important moments in Australia’s cricketing history. They said it in a press release from Cricket Australia, and the Australian Cricketers’ Association also said it.
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