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.
And we finalized!
Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.
— vitalik.eth (@VitalikButerin) September 15, 2022
Amidst all the numerous delays and memes,
Back to the future? #Ethereum 2.0 finally ships 😂 pic.twitter.com/JYjUEub8Hh
— MMCrypto (@MMCrypto) July 18, 2019
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.
"The merge will reduce worldwide electricity consumption by 0.2%" – @drakefjustin
— vitalik.eth (@VitalikButerin) September 15, 2022
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.
BREAKING: South Korea issues an arrest warrant for crypto firm founder Do Kwon as it probes alleged illegal activity behind collapsed stablecoin TerraUSDhttps://t.co/7Ahn0SipCe pic.twitter.com/rcieujKhw5
— Bloomberg Crypto (@crypto) September 14, 2022
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.
When I asked Do Kwon about whether he would return to Korea to face charges or the prospect of jail, I was surprised to hear he wasn’t afraid: “Life is long.”
You can watch our two-part interview with Do Kwon ad-free at https://t.co/j31bhHvOAi to understand crypto’s biggest case
— Zack Guzmán (@zGuz) September 14, 2022
However, Singapore does not have an extradition treaty with South Korea, which may complicate matters.
According to the Financial Times, Singapore is not on South Korea's list of bilateral extradition treaties — and prosecutors want to pressure Kwon to return 👀 https://t.co/DOjAd8MVsr
— CoinMarketCap (@CoinMarketCap) September 15, 2022
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.
Cryptocurrency firms are throwing money at F1, but the Singapore Grand Prix track won’t be decorated with their logos—though they will appear on cars and uniforms https://t.co/kWkaUXbliD
— The Wall Street Journal (@WSJ) September 10, 2022
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.
Guess what’s brewing today? ☕️@Starbucks unveils Starbucks Odyssey #onPolygon!
A unique experience that enables you to earn and buy digital collectible stamps and unlock new, coveted coffee experiences. 🌟
Read more 👉🏽 https://t.co/U8nKjUb8sY pic.twitter.com/nvJ37y9s0a
— Polygon (@0xPolygon) September 12, 2022
Different companies are choosing various blockchain networks to create their NFTs, such as FIFA partnering with the Algorand network.
FIFA partners with Algorand to launch NFT platform! 🚀 pic.twitter.com/WyeZ9l0y8p
— NFT Ninja (@nftninja__) September 11, 2022
BNB Chain 🤝 Google Cloud ☁️
BNB Chain will be accelerating the advancement of crypto projects within their ecosystem by partnering with Google Cloud.
#BNBChain and @googlecloud are joining forces, the collaboration will help advance early-stage #Web3 projects by providing:
🔸Foundational Infrastructure
🔸Cloud Computing Credits
🔸Mentorship
🔸Enhanced Technical SupportGet the details here ⤵️https://t.co/rCrBNbgQV8
— BNB Chain (@BNBCHAIN) September 14, 2022
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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