Banks and Institutions
SEC reportedly opens investigation on Uniswap
Uniswap Labs’ developers have confirmed the US Securities and Exchange Commission is taking a close interest in their activities, particularly how the platform is used. However, it is still in the process of gathering information. Other DeFi platforms have also received letters asking for data regarding their operations. The aim might be to establish a specific regulation for DeFi.
Source : TheBlockCrypto
Institutional demand for altcoins explodes
35% of institutional capital invested in cryptoassets is now dedicated to altcoins (and thus 65% for Bitcoin). Ethereum, Solana, Cardano and Polkadot make up the majority of weekly inflows, which are now close to $40 million.
Source : CoinTelegraph
MNBC platform for cross-border payments to be tested
The Bank for International Settlements (BIS) is collaborating with the central banks of Australia, Malaysia, Singapore and South Africa to create a platform for cross-border payments. This multi-state cryptocurrency system will allow financial institutions to make transactions without intermediaries, faster, and at reduced costs.
Source : CoinDesk
Bitcoin Day in El Salvador on September 7
It’s official: Bitcoin is formally implemented in El Salvador after a historic vote in Parliament. While 70% of its population is opposed to its implementation, the government has increased its reserves to 400 BTC and declares itself more ready than ever to bitcoinify its economy.
Source : CoinTelegraph
Cryptoactive ecosystem
NFT “Doge” becomes one of the most valued at US$225 million
The image of the original Doge meme has been fractionalized into 17 billion shares and each unit sold on MISO, the SushiSwap NFT platform. The iconic meme’s valuation has now reached over $225 million.
Source : TheBlockCrypto
Cardano quietly accepts regulation
Cardano has announced a partnership with Coinfirm to track transactions on its blockchain and ensure they comply with regulations, especially anti-money laundering guidelines. While some have criticized this action as a hindrance to the decentralized model of public blockchains, Cardano’s founder is pleased that it facilitates the future adoption of Cardano.
Source : JournalduCoin
EOS’s ICO was reportedly highly manipulated
In 2017 and 2018, EOS made headlines by raising the largest amount of money in the entire ICO market, with $4.3 billion. Two Integra FEC researchers are now now confirming what a number of observers believed: the project’s managers allegedly manipulated prices and bought significant amounts of EOS, driving up prices and demand. 21 accounts bought 39% of the EOS offered for sale during the ICO.
Source : CoinTelegraph
Technology
Cardano’s smart contracts facing a scalability issue
As the Cardano project launches its first decentralized Minswap exchange, it is already facing scalability issues: only one interaction per block can spend funds stored in a smart contract. A Uniswap platform, for example, would therefore not be able to operate with a single pool of liquidity. The DeFi developers on Cardano say they have solutions in store.
Source : CryptoBriefing
For the first time, Ethereum has been deflationary
For the first time, more Ether (ETH) was destroyed than created. This demonstrates the positive effects of the implementation of the EIP-1559 protocol, which makes Ethereum a much more attractive asset to hold as a store of value. On the other hand, the expected decrease in commissions on the Ethereum network did not come to fruition.
Source : Cryptoast
Some figures
- One in six Australians own cryptoassets according to a survey, and 56% think Elon Musk invented Bitcoin.
- Ethereum second-layer solutions now process 250,000 transactions per day, compared to Bitcoin’s 210,000.
- Coinbase executives sold $250 million of the company’s stock in August.
- Open positions in Ethereum futures are at an all-time high of $11 billion.
- August was the second most successful month for Bitcoin miners, with $1.41 billion in revenue.
- A CryptoPunk bought for $3.89 million was resold a few hours later for $5.12 million.
