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Krystal Newsflash (16th Sep 2022)

●   2 min

Welcome to our recap of the major stories in the crypto world! Here’s what has happened over the past week:

The Merge is here! 🎉

This mega crypto event has FINALLY happened.

Amidst all the numerous delays and memes,

Ethereum has transitioned from Proof-of-Work to Proof-of-Stake.

Vitalik Buterin also mentioned that the environmental impact of Ethereum will be significantly reduced.

Although the issue of high gas fees is not fixed yet, transitioning to Proof-of-Stake enables sharding, which should help to improve Ethereum’s scalability and reduce gas fees!

You can find out more in our article explaining The Merge here.

🚨 Arrest warrant issued for Do Kwon

South Korea has issued an arrest warrant for Do Kwon, over the crash of UST.

You can find out more about why UST depegged in our article here.

Do Kwon is currently in Singapore, where he was recently interviewed by Coinage media regarding the crash.

However, Singapore does not have an extradition treaty with South Korea, which may complicate matters.

No crypto ads at Singapore F1 ❌

Following Singapore’s hard stance against retail investments in cryptocurrencies, they have come down hard on the upcoming Singapore Grand Prix.

Sports (and F1 in particular) have been a prime target for cryptocurrency ads, where teams and drivers are sponsored by centralised crypto exchanges.

The Monetary Authority of Singapore (MAS) has banned retail crypto advertising, and will not allow ads around the track.

However, this ban does not apply to logos that are found on cars and drivers’ uniforms.

Polygon 🤝 Starbucks ☕️

Starbucks has entered the NFT scene, and they have chosen to partner with the Polygon network for their on-chain Starbucks Rewards programme.

Different companies are choosing various blockchain networks to create their NFTs, such as FIFA partnering with the Algorand network.

BNB Chain 🤝 Google Cloud ☁️

BNB Chain will be accelerating the advancement of crypto projects within their ecosystem by partnering with Google Cloud.

With this additional support, developers can build decentralised applications that help to benefit the BNB Chain ecosystem as a whole.

Are you excited about The Merge? Will you be taking part in Starbucks’ new reward programme? Tweet us or send us a message on Telegram to let us know!

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