Crypto Newsletter

'Bitcoin fixes this' — US Infrastructure Bill would add $250B to US debt mountain

The United States tax bill which could hurt Bitcoin (BTC) and crypto holders will “continue the plunder of future generations,” Cameron Winklevoss argues.

According to new estimates, the proposed Infrastructure Bill currently under discussion in Washington would pile on an extra quarter of a trillion dollars in debt.

Proof of Stake vs Proof of Work: What’s Better?

Proof of Work and Proof of Stake are consensus mechanisms. They are the methods used for confirming transactions done on the blockchain network without involving a third party. It seems they perform the same functions. However, there are some differences between them.

Cardano Can Take on Bitcoin, Ethereum in the Long-term

The brainchild of Charles Hoskinson, who has earlier been credited with co-founding Ethereum, has some promising potential in contrast with the latest happenings in the crypto world. Cardano was officially launched in September 2017, and in merely three years, ADA has reached fifth position trailing only the Bitcoin, Ethereum, Tether, and Binance Coins. It is currently leading XRP by a market cap of over 35%. All these factors point out the possibility of Cardano actually becoming the largest cryptocurrency in the market in terms of market capitalization.

Biden Deals Blow to Crypto Industry, Backs Plan to Tax Proof-of-Stake

In a surprise move, the Biden Administration threw its support behind an amendment to a major bill in the U.S. Senate that would subject a broad segment of the crypto industry to onerous or even impossible tax reporting obligations.

Ethereum network burns $395K ETH per hour after London upgrade

Approximately 2.3 ETH is being burnt every minute through the new transaction fee mechanism introduced in Ethereum’s London upgrade on August 5.

The highly anticipated London hard fork went live on Wednesday this week, ushering in the EIP-1559 upgrade that adjusted gas fees. Part of that adjustment introduced a mechanism that burns some of the base fees collected.

Centrifuge and MakerDAO Bring Real World Assets To DeFi

The MakerDAO community and Centrifuge are collaborating with real-world assets to further enhance the DeFi lending experience. This new connection will help increase the initial debt ceiling for four additional Tinlake pools to allow for borrowing over 40 million DAI with Real World collateral.

Bitcoin and Ethereum hit resistance with $42.5K flip needed for BTC longs

Data from Cointelegraph Markets Pro and TradingView showed both BTC/USD and ETH/USD acting near critical range resistance as the week drew to a close.

A late surge the day before punctuated an overall downtrend after swift upside throughout the previous week, but Friday reinforced the idea that longer-term resistance would remain in place.

Binance “Pivoting to Proactive Compliance”: CEO Zhao

Binance CEO Changpeng Zhao has indicated that the exchange will be adopting a more proactive approach to regulatory compliance.

Lionel Messi’s Enters the NFT Category With Messiverse

Non-fungible tokens (NFTs) are slowly but surely climbing up the popularity ladder. These digital art pieces are stored on the blockchain, and thanks to the immutability characteristic of the open ledger, they cannot be tampered with. Adding momentum to the popularity of NFTs, star soccer player Lionel Messi has now come up with his NFT collection. The collection will be available for prospective buyers from August 20. The four-series collection has been designed by BossLogic and Ethernity, and Messi says that he is very excited to bring this new form of digital art to his fans.

Singapore approves its first fully-regulated crypto exchange.

The Monetary Authority of Singapore has granted its first approval in principle to a cryptocurrency exchange under the new licensing regime. This saw the platform become the first exchange in the country to trade as a fully regulated virtual asset service provider. Australian crypto exchange Independent Reserve received the regulatory green flag under the provisions of the Payment Services Act, which was brought into law in January 2020.