Bitcoin, Ethereum, Cosmos and more week 35 2023
All things crypto, web3 and blockchain across all the Coin Clubs
TLDR: Bitcoin EFT Approvals Prolong, TwitterX Obtain Crypto BTC License, Arbitrum Stylus Goes Live, Gitcoin Passport Onchain, USDC Launch on Cosmos, SubQuery and Neutron Team Up, Coinbase Adds PYUSD & Binance Discontinue BUSD by February 2024.
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Bitcoin Highlights of the Week
Bitcoin miners are struggling with record-low profits, adapting through stock sales, as they face the paradox of rising hash rates amid diminishing earnings.
Missed SEC deadlines, Ripple lawsuit implications, and the impending BlackRock BTC ETF verdict converge, creating uncertainty and potential market shifts in the cryptocurrency realm.
Grayscale's legal victory over the SEC's denial of its Bitcoin ETF application signals potential progress, though challenges and uncertainties persist in the journey toward a spot Bitcoin ETF.
Oman has raised $370m investment in new data hosting, bitcoin mining centre. Now Oman’s Minister of IT and Communications inaugurated the launch of project with 200MW of Bitcoin mining.
Twitter, now X, obtains license to store, transfer, and trade Bitcoin and other digital assets on behalf of its users.
Ethereum Highlights of the Week
Code and public testnet for Arbitrum Stylus goes live which allow developers to use both traditional EVM tools and WASM-compatible languages like Rust, C, and C++ to build applications on Arbitrum Nitro chains.
Polygon CDK is an open source codebase for launching ZK-powered L2 chains for Ethereum, on demand. All chains deployed using Polygon CDK are interoperable, with automatic access to other chains.
Adult content subscription service Onlyfans’ financial report shows that it invested part of its working capital into Ethereum. Onlyfans purchased $19.889 million worth of ETH.
The Department of Justice (DOJ) has cast a shadow over the once-lauded Tornado Cash platform, alleging that it facilitated more than $1 billion in money laundering transactions.
Gitcoin Passport Onchain Stamps are built using the ETH Attestation Service (EAS) to enable users to add stamps to the ETH ecosystem. Initially, available on Optimism Mainnet, with plans to extend.
Cosmos Highlights of the Week
stSOMM from Sommelier Finance is live using Stride and users can now be liquid staked as stSOMM. Users earn staking rewards while remaining liquid.
USDC is headed for Cosmos as Circle announce that USDC issued via Noble will be transferrable between app chains without losing fungibility.
Users can now track their Archway assets on Pulsar Finance, as Pulsar increase their coverage in Cosmos.
Fetch AI reveal new and fresh brand with an revamped website. Fetch AI's new look reflects their mission to reshape the world with advanced, smooth AI.
SubQuery and Neutron team up to empower advanced data indexing in Cosmos. With this alliance, data management across smart contracts become much more smooth.
Other Highlights of the Week
Coinbase has begun by offering PYUSD trading with an "experimental" label, which is often assigned to new or low-volume assets. PYUSD was launched in partnership with Paxos, and while several exchanges like Huobi, Kraken, and Crypto.com have listed it, adoption has been slow – possibly due to some hesitancy from crypto users.
Binance has announced that it will discontinue support for the BUSD stablecoin by February 2024, following BUSD issuer Paxos’ halting of the creation of new BUSD tokens earlier this year. Although Binance assures users that BUSD will continue to be backed 1:1 with USD, it encourages them to convert BUSD into the FDUSD stablecoin before February 2024.
Argent and Starknet Partner to launch new venture studio Hito Studios. Hito Studios will look to entice teams to build startups on Starknet and will help them to do so while also providing early-stage investment.
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