FaZe Clan, a Los Angeles-based professional electronic sports (esports) organization, today announced that it has fired its member FaZe Kay as well as suspended three more players—Jarvis, Nikan, and Teeqo—who were involved in promoting cryptocurrency token Save the Kids (KIDS).
Bitcoin network underwent its highest mining difficulty adjustment to date with a 28% decline. The mining difficulty adjustment comes at a time when the network hashrate has fallen by over 50% owing to an exodus of Chinese miners from their country in light of government crackdown.
On one hand, Indian crypto exchanges continue to face the heat of regulatory uncertainty, while on the other hand, Coinbase is planning its aggressive expansion in India. On Friday, July 2, Brian Armstrong tweeted that Coinbase is setting up its office in India and ramping up its Indian team.
Crypto and blockchain enthusiasts take pride in belonging to a community that is working on the future of financial systems. Yet, the community is innately fragmented thanks to multiple blockchains working independently of each other. The dream of mass adoption of blockchain and decentralized finance faces a major hurdle: a lack of interoperability.
A leading crypto analytics firm is assessing the state of Bitcoin (BTC) and Ethereum (ETH).
According to Santiment, the amount of Ethereum held by crypto exchanges is now at its lowest level in more than two and a half years.
Amid the ongoing crackdown in China, a lot of Bitcoin miners are shifting base to the U.S. The Republican U.S. Senator of Wyoming – Cynthia Lummis – has recently invited Bitcoin miners. The Senator tweeted: “If you are in the #Bitcoin mining space, please reach out. We WANT you in Wyoming”.
Law enforcement officials in Ukraine have closed down a cryptocurrency mining farm that was minting digital coins using stolen electricity. The facility had more than 150 mining rigs that have been confiscated during a raid in Chernihiv region.
The world’s largest cryptocurrency Bitcoin (BTC) has been showing strong volatility over the last few weeks and will continue this behavior in July as well. All eyes are on the unlocking of the January Grayscale Bitcoin Fund (GBTC), scheduled ahead this month on July 18.
As per data on Bybt, on July 18, GBTC stocks worth 41852.26 BTC shall be unlocked. This will be the largest single-day unlocking of the GBTC shares so far in history.
At press time, Bitcoin and Ethereum cumulatively account for nearly 65% of the entire crypto market. Bitcoin, as the informal leader of the crypto industry, composes more than 45% of the market. Whereas Ethereum, as the second-largest cryptocurrency, makes up almost 18%.
Last week, both of these leading cryptocurrencies endured some losses. Bitcoin’s market cap dropped by 12.6%, while Ethereum suffered extended losses as its market valuation plunged by 19.3% week-over-week. Despite tolerating more losses, Ethereum managed to outperform Bitcoin in terms of active addresses.
The coin that powers Compound has increased by 21% on the day, just a few days after the decentralized lending protocol launched a fixed 4% APY yield service.
COMP, which kicked off the yield farming craze when it launched about a year ago, is now worth $384. That’s a 70% increase in the past week.