Blockchain Industry Update (Elon Musk, Ripple, Cowen, US SEC)

This week’s news from Bitcoin and Crypto Market …

Bitcoin

BurgerSwap explains $7.2M Flash Loan Attack in post-mortem. Another Binance Smart Chain project falls victim to a flash loan attack involving a fake token and price manipulation.

Every fourth Australian willing to be paid in Bitcoin. A new survey has established that one in four Australians would like to receive at least part of their salary in cryptocurrency.

Bitcoin whales holding 100 to 10k BTC have accumulated 30k more coins in the last week. The accumulation coincided with last week’s retest of $31k and rejection at $40,800.

Blockchain

CipherTrace adds Binance Smart Chain to its analytics toolset. Blockchain intelligence tools developed by CipherTrace can now be used to detect illicit activity across Binance Smart Chain and over 600 dapps based on it.

Cruptocurrency

Cowen, an American investment bank with about $12 billion in assets under management, has raised $46 million for its Cowen Digital Asset Investment Co LLC intended to provide exposure to bitcoin and cryptos.

Canadian crypto lender Ledn has raised $30 million in Series A funding. The funding brings Ledn’s valuation to $230 million, co-founder Mauricio Di Bartolomeo told The Block.

Elon Musk reminds followers he really isn’t Dogecoin’s master. Musk’s tweets have been credited with markedly influencing the value of the meme cryptocurrency.

US SEC wants to work with Congress to regulate crypto exchanges. SEC head Gary Gensler said that the authority spends only $325 million per year on tech, which is less than some industry players spend in two weeks.

Carl Icahn hints at $1.5 Billion investment in cryptocurrencies. The billionaire investor is exploring opportunities within the cryptocurrency space and may invest as much as $1.5 billion.

Korean gov’t clarifies crypto regulatory roles of different agencies. After some confusion, South Korea’s government has laid out which state and regulatory bodies are charged with the oversight of various aspects of crypto-related activities.

Ripple could go public after the SEC lawsuit is resolved, according to CEO Brad Garlinghouse. He reportedly explained that the likelihood of this happening is very high at some point.

Globant, one of the big four tech firms in Argentina, has quietly made its first foray into the world of cryptocurrency investing, according to its latest filing to the SEC.

KBC, one of the largest insurance and banking companies in Belgium, announced its plans to launch its own cryptocurrency, slightly changing its approach to digital assets.

Dogecoin’s daily transaction value now stands at $7.57 Billion indicating a 90% drop. Dogecoin daily transaction value hit an all-time high of $82.54 Billion on May 9th.

Ethereum

The Polygon team has launched its long-awaited software development kit. The SDK will entable developers to deploy their own EVM-compatible blockchains on the network. The launch pushes forward Polygon’s vision of creating a multi-chain ecosystem for Ethereum.

Ether sails past BTC’s daily volume as Grayscale ETH Trust trades at 11% premium. Roughly $60 billion worth of ETH changed hands over the past 24 hours while BTC saw $50 billion in trade.

Uniswap likely to expand to Ethereum scaling solution Arbitrum. If a snapshot poll passes, Uniswap will deploy on the Ethereum scaling solution Arbitrum.

WisdomTree files for an ETH ETF in the US. WisdomTree continues with its ETH-focused endeavors by filing to launch an ETF tracking the performance of ETH.

Arbitrum, an Optimistic Rollup scaling solution for Ethereum, has successfully launched for developers. Layer 2 scaling aims to reduce congestion on the base chain while still benefitting from its security. Reduced congestion on Ethereum will reduce gas fees for every user, not only the ones using Layer 2.

Purpose Group’s Ether ETF AUM breaches 50,000 ETH after just over a month of launch. Purpose Group also launched the world’s first Bitcoin ETF.

Ethereum Devs close EIP-1559 Loophole that could have overwhelmed blockchain. Ethereum developers quickly patched up EIP-1559 a month and a half before it’s set to go live.

NFT

RippleX has announced the launch of a community grants program for projects building on the XRP ledger. The Grants Program will focus on NFTs, Core infrastructure, developer tooling, Developer UX and security.

NFT volume has more than tripled even amid price crash as Meme dot com raises $5M. The NFT sector has seen exponential growth, tripling in transactions since January and pushing through the market crash this month.

 

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