FFATH ๐ Rio de Janeiro will accept crypto for property tax ๐ Eth Go Up/Down? ๐ฃ Last Sushi Drama
We are very Far From All Time High
Your one-stop source for the most important crypto news of the week.
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Headlines
๐ Google selects Coinbase to take cloud payments with cryptocurrencies
๐ Rio de Janeiro will accept crypto-payments for property taxes
โ๏ธ Portugal's new budget draft includes crypto income tax
๐จ๐ณ Bank of China: digital yuan transactions volume crossed $14B mark
๐ฆ Instant bank-to-crypto option for U.S. users with Metamask and Sardine
๐๏ธ Formula One files 'F1' trademarks covering crypto, NFTs and Metaverse
๐ฆ๐ช Multiverse Labs launches government-backed metaverse city in UAE
โ๏ธ BNY Mellon can now take custody of its customersโ crypto
๐ Crypto scam victims seek to hold Coinbase responsible for losses (Does Roche sound familiar?)
๐ท๐บ Dapper Labs breaks down why it's suspending Russian accounts
๐ฎ Blockchain gaming adoption means more options for gamers
Featured Story
๐ Merge Good, Eth Down, What Gives?
Its been one month since this yearโs most anticipated event in the world of blockchain. Ethereumโs merge from proof of work to proof of stake succeeded on September 15 yet despite the fact that the Ethereum network now uses 99% less energy the price of it has fallen. Overall Ethereum is down 71% from its high of 4,878 and the rest of the cryptoverse is falling with it.
So what gives?
Well, as ya boy Bankman-Fried has pointed out; everything is down right now. With prices low and getting lower, institutions are seeing this as just the right time to onboard as many suckers as they can. Bank of New York Mellon, who has already launched its crypto custody service in Ireland, has launched its own crypto custody service in the U.S. where it will hold clients' private keys and provide accounting on their crypto portfolios.
The fact is, there are more and more resources to assist with onboarding your mom and her boyfriend onto the blockchain. Fidelity, Charles Schwab, and Citadel have teamed up to launch EDX Markets, a cryptocurrency exchange. PayPal already allows users to purchase Bitcoin and Ethereum through its service, and every day more and more apps are accepting cryptocurrencies as payment.
The real issue doesnโt seem to be a lack of interest or onramps, rather, money is expensive. This past week IMF Managing Director Kristalina Georgieva said โThe worst is yet to come,โ when speaking about the global economy. According to the IMF one-third of the world economy will likely contract this year or the next due to shrinking incomes and rising prices. Ark Invest CEO Cathy Wood said the part the Biden Administration would not like to admit; โWe're in a recession right now' and it's going to get worse.โ
So big players look to be positioning themselves for a future with crypto, a long-off, probably not-too-soon future. Ethereumโs merge was never meant to drive the price up, it was a technological leap ahead in an early, still growing technology. If you believe what everyone is suggesting, then peopleโs wallets around the globe will likely be getting a lot tighter. Make of that information what you will.
Of course, you could instead YouTube some sweet sweet technical analysis. Iโm sure thereโs a triangle pointing toward an epic launch any day now.
Insider News
๐ฅ Layer Zero is coming to Aptos
๐ฃ SushiSwapโs New CEO accused of mass Crypto scam and animal sexual assault
๐บ OpenSea launches NFT marketplace on Avalanche
๐ฒ Agoric is developing a stablecoin, IST for the interchain (Cosmos)
โ๏ธ Marathon Mines First OFAC Compliant Bitcoin Block
๐ Borrow ETH with Your NFTs
๐ StarkNet Roundup #36
๐จ Collection.xyz
๐ DigiDaigaku purchases a Superbowl commerical
๐จ Optional royalties on MagicEden โ DeGods removes NFT royalties
โ ๏ธ (Update) Justin Sun denies being 'real buyer' of Huobi stake sale
๐ The Graph roadmap for 2023 (And they are moving to Arbitrum)
๐ฅ Crypto Fight Night - (Nov 12 2022)
โ ๏ธ BNB Smart Chain to perform hard fork as fix for $100M exploit
๐ Binance stablecoin $BUSD is now available on Polygon
๐ ParaSwap plots reduced token emissions
๐ FTX launching rollouts this Thanksgiving
๐ Polygon zkEVM public testnet
๐ Beamer is Live on Mainnet!
๐ Luxor launches derivatives product based on bitcoin mining
๐ฅ The 12 ETH Bogota finalists
Reads
๐ SLAMM: A Unified Model for Cross-Chain Liquidity - Delphi Digital
๐ Protocol-native stablecoins - Messari
๐ Energy vs Sovereign Bond Markets - Lyn Alden
๐ ZkSync: A Peek into the Future of Ethereum - Sam Martin
๐ CZโs Principles
๐ European VCs are finally launching crypto funds โ what took them so long? - Tom Matsuda
Data
๐ State of Avalanche Q3 2022
๐ State of Osmosis Q3 2022
๐ XEN a shitcoin or a ponzi?
๐ฆ Hacks are now trackable on DefiLlama
The state of DeFi in 15 charts
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