🚀Reddit jointly with Polygon launches the NFT marketplace
🤝Reddit partnered with the blockchain Polygon to launch an NFT marketplace where users of the site can construct and buy non-fungible tokens to use as an avatar, including on third-party platforms. The company noted that you don't need a cryptocurrency wallet to buy NFTs: a credit or debit card is enough, and you can store tokens on your own Reddit wallet.
https://getblock.net/en/news/reddit-jointly-with-polygon-launches-the-nft-marketplace
🤝Reddit partnered with the blockchain Polygon to launch an NFT marketplace where users of the site can construct and buy non-fungible tokens to use as an avatar, including on third-party platforms. The company noted that you don't need a cryptocurrency wallet to buy NFTs: a credit or debit card is enough, and you can store tokens on your own Reddit wallet.
https://getblock.net/en/news/reddit-jointly-with-polygon-launches-the-nft-marketplace
🇷🇺Moscow Stock Exchange to offer DFA trading after implementing crypto regulation
☝️Representatives of the Moscow Stock Exchange said that they are ready to offer digital financial assets (DFAs) trading services to clients, but this is only possible after the relevant regulatory framework is approved. The holding noted that it was already exploring the possibility of allowing cryptocurrencies on its platform, the TASS news agency reports, citing the press service.
https://getblock.net/en/news/moscow-stock-exchange-to-offer-dfa-trading-after-implementing-crypto-regulation
☝️Representatives of the Moscow Stock Exchange said that they are ready to offer digital financial assets (DFAs) trading services to clients, but this is only possible after the relevant regulatory framework is approved. The holding noted that it was already exploring the possibility of allowing cryptocurrencies on its platform, the TASS news agency reports, citing the press service.
https://getblock.net/en/news/moscow-stock-exchange-to-offer-dfa-trading-after-implementing-crypto-regulation
✅Russia’s Ministry of Finance supports the use of stablecoins in Russia
💭Ivan Chebeskov, Director of the Financial Policy Department of the Ministry of Finance of the Russian Federation, said that the department supports the possibility of circulation of stablecoins within the country. In his view, blockchain technologies and cryptocurrencies allow the creation of a new financial system, but there is no guarantee that it will be better than the existing ones. The official said this as part of his speech at the summit, Russian Creative Week.
https://getblock.net/en/news/russias-ministry-of-finance-supports-the-use-of-stablecoins-in-russia
💭Ivan Chebeskov, Director of the Financial Policy Department of the Ministry of Finance of the Russian Federation, said that the department supports the possibility of circulation of stablecoins within the country. In his view, blockchain technologies and cryptocurrencies allow the creation of a new financial system, but there is no guarantee that it will be better than the existing ones. The official said this as part of his speech at the summit, Russian Creative Week.
https://getblock.net/en/news/russias-ministry-of-finance-supports-the-use-of-stablecoins-in-russia
👍Celsius fully repays its debt to Maker protocol
💰On July 7, Celsius, a DeFi platform for lending and staking cryptocurrencies, repaid its debt to Maker protocol. According to DeFi Explore, Celsius deposited the remaining $41,23 million in MakerDAO (DAI) stablecoins, after which the protocol returned 21 962,63 wrapped bitcoins (wBTC) worth around $459 million that it had deposited as collateral to the platform to close the debt. In total, Celsius has paid Maker $224 million in the past seven days.
https://getblock.net/en/news/celsius-fully-repays-its-debt-to-maker-protocol
💰On July 7, Celsius, a DeFi platform for lending and staking cryptocurrencies, repaid its debt to Maker protocol. According to DeFi Explore, Celsius deposited the remaining $41,23 million in MakerDAO (DAI) stablecoins, after which the protocol returned 21 962,63 wrapped bitcoins (wBTC) worth around $459 million that it had deposited as collateral to the platform to close the debt. In total, Celsius has paid Maker $224 million in the past seven days.
https://getblock.net/en/news/celsius-fully-repays-its-debt-to-maker-protocol
❌US urges Japan to halt cryptocurrency transactions with Russia
🇺🇸The US has urged Japan to increase pressure on local cryptocurrency exchanges and mining companies to stop financial transactions with Russia. According to Financial Times, citing sources, diplomats in Washington have asked Tokyo to focus on stopping cryptocurrency mining in the Irkutsk region, providing information on Japanese mining companies that continue to operate in the Russian Federation.
https://getblock.net/en/news/us-urges-japan-to-halt-cryptocurrency-transactions-with-russia
🇺🇸The US has urged Japan to increase pressure on local cryptocurrency exchanges and mining companies to stop financial transactions with Russia. According to Financial Times, citing sources, diplomats in Washington have asked Tokyo to focus on stopping cryptocurrency mining in the Irkutsk region, providing information on Japanese mining companies that continue to operate in the Russian Federation.
https://getblock.net/en/news/us-urges-japan-to-halt-cryptocurrency-transactions-with-russia
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📃Bankrupt exchange Mt.Gox begins preparations to reimburse creditors
🗣Bitcoin exchange Mt.Gox, which filed for bankruptcy in 2014, has released new information about its repayment procedure for customers. Trustee Nobuaki Kobayashi reported that the company has begun preparations to make repayments. Creditors have until the end of August to send in applications and indicate how they want to receive the funds: in a format of multiple payments or an early lump sum. Also, part of the assets may be paid in BTC or BCH. A start date for the payments has not yet been announced.
https://getblock.net/en/news/bankrupt-exchange-mtgox-begins-preparations-to-reimburse-creditors
🗣Bitcoin exchange Mt.Gox, which filed for bankruptcy in 2014, has released new information about its repayment procedure for customers. Trustee Nobuaki Kobayashi reported that the company has begun preparations to make repayments. Creditors have until the end of August to send in applications and indicate how they want to receive the funds: in a format of multiple payments or an early lump sum. Also, part of the assets may be paid in BTC or BCH. A start date for the payments has not yet been announced.
https://getblock.net/en/news/bankrupt-exchange-mtgox-begins-preparations-to-reimburse-creditors
⛏New Ethereum miner and DFA trading on the Moscow Stock Exchange. Main news of the crypto industry
📈 Bitcoin has gained 10,16% over the past seven days. The asset reached the highest values on July 8, when 1 BTC was trading at $22 230, the lowest values were recorded on July 3, at $18 973 per coin. As of July 8, 09:00 UTC, BTC is trading at $21 459 (according to Binance).
⬆️The second-largest cryptocurrency by capitalization, Ethereum, has added 14,2% over the week and amounted to $1217. The native token of cryptocurrency exchange Binance (BNB) rose by 6,9%, the asset is trading at $237,5.
📊 The total capitalization of the crypto market rose from $921 billion to $998,3 billion over the week, with bitcoin dominating at 40,7%. Ethereum’s share is 14,89%.
📃 The most important industry news and a detailed analysis of digital assets in the weekly review of Getblock Magazine
📈 Bitcoin has gained 10,16% over the past seven days. The asset reached the highest values on July 8, when 1 BTC was trading at $22 230, the lowest values were recorded on July 3, at $18 973 per coin. As of July 8, 09:00 UTC, BTC is trading at $21 459 (according to Binance).
⬆️The second-largest cryptocurrency by capitalization, Ethereum, has added 14,2% over the week and amounted to $1217. The native token of cryptocurrency exchange Binance (BNB) rose by 6,9%, the asset is trading at $237,5.
📊 The total capitalization of the crypto market rose from $921 billion to $998,3 billion over the week, with bitcoin dominating at 40,7%. Ethereum’s share is 14,89%.
📃 The most important industry news and a detailed analysis of digital assets in the weekly review of Getblock Magazine
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⚠️Celsius was accused of running Ponzi scheme
⚖️Staking software and investment firm KeyFi Inc. has filed a complaint in a New York court, accusing crypto lender Celsius of creating a Ponzi scheme and refusing to honor a profit-sharing agreement “worth millions of dollars” (no exact amount was specified). As part of the agreement, KeyFi was supposed to be paid percentages of Celsius’ profits generated by providing services in the fields of staking and decentralized finance (DeFi).
https://getblock.net/en/news/celsius-was-accused-of-running-ponzi-scheme
⚖️Staking software and investment firm KeyFi Inc. has filed a complaint in a New York court, accusing crypto lender Celsius of creating a Ponzi scheme and refusing to honor a profit-sharing agreement “worth millions of dollars” (no exact amount was specified). As part of the agreement, KeyFi was supposed to be paid percentages of Celsius’ profits generated by providing services in the fields of staking and decentralized finance (DeFi).
https://getblock.net/en/news/celsius-was-accused-of-running-ponzi-scheme
📉Compass Mining cuts its staff by 15%
💼Compass Mining, a provider of cryptocurrency mining equipment, has cut its staff by 15%, as well as reduced salaries and marketing costs. Salaries for senior employees and the executive team were cut by as much as 50%. Co-founders Thomas Heller and Paul Gosker noted that the changes would allow the company to maintain its position “in this evolving market, which has challenged many of our industry peers.”
https://getblock.net/en/news/compass-mining-cuts-its-staff-by-15
💼Compass Mining, a provider of cryptocurrency mining equipment, has cut its staff by 15%, as well as reduced salaries and marketing costs. Salaries for senior employees and the executive team were cut by as much as 50%. Co-founders Thomas Heller and Paul Gosker noted that the changes would allow the company to maintain its position “in this evolving market, which has challenged many of our industry peers.”
https://getblock.net/en/news/compass-mining-cuts-its-staff-by-15
🚀Aave developers propose the community issue dollar-pegged stablecoin
💡The developers of the Aave protocol have proposed to the community to issue a decentralized stablecoin, GHO, pegged to the US dollar, as well as to choose a set of cryptocurrencies to act as its collateral. Users would be able to issue the asset against their supplied collaterals, with 100% of interest payments on GHO borrows being sent to AaveDAO, a decentralized autonomous organization. The proposal has been submitted to the protocol’s community for discussion.
https://getblock.net/en/news/aave-developers-propose-the-community-issue-dollar-pegged-stablecoin
💡The developers of the Aave protocol have proposed to the community to issue a decentralized stablecoin, GHO, pegged to the US dollar, as well as to choose a set of cryptocurrencies to act as its collateral. Users would be able to issue the asset against their supplied collaterals, with 100% of interest payments on GHO borrows being sent to AaveDAO, a decentralized autonomous organization. The proposal has been submitted to the protocol’s community for discussion.
https://getblock.net/en/news/aave-developers-propose-the-community-issue-dollar-pegged-stablecoin
📢Polium announces gaming console with multi-blockchain support
🎮Polium will create the world’s first gaming console focused on Web 3.0 technologies. According to a statement on the company’s blog, Polium One will be able to run games based on ImmutableX, Solana, Ethereum, Polygon, BNB, EOS, Wax, and Harmony blockchains without having to switch networks. The marketplace is also available on the console, where players will be able to trade both in-game and non-game NFTs. The console features a wallet button for making transactions while playing, as well as a fingerprint scanner to protect users’ assets. The approximate release date is the third quarter of 2024.
https://getblock.net/en/news/polium-announces-gaming-console-with-multi-blockchain-support
🎮Polium will create the world’s first gaming console focused on Web 3.0 technologies. According to a statement on the company’s blog, Polium One will be able to run games based on ImmutableX, Solana, Ethereum, Polygon, BNB, EOS, Wax, and Harmony blockchains without having to switch networks. The marketplace is also available on the console, where players will be able to trade both in-game and non-game NFTs. The console features a wallet button for making transactions while playing, as well as a fingerprint scanner to protect users’ assets. The approximate release date is the third quarter of 2024.
https://getblock.net/en/news/polium-announces-gaming-console-with-multi-blockchain-support
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Bitcoin
In the media and social media, one can already see the euphoria that bitcoin has allegedly formed a double bottom (a reversal pattern), which indicates that the asset’s decline is over and it is returning to growth. However, so far the situation is very similar to bitcoin’s movements in recent months and the usual movement inside a sideways channel.
The only interesting point is the record trading volumes seen on July 8. This is the biggest spike in trading volumes since the beginning of 2022
The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.
https://getblock.net/en/market-analysis/btc-review-dated-09072022
#BTC #Analytics
In the media and social media, one can already see the euphoria that bitcoin has allegedly formed a double bottom (a reversal pattern), which indicates that the asset’s decline is over and it is returning to growth. However, so far the situation is very similar to bitcoin’s movements in recent months and the usual movement inside a sideways channel.
The only interesting point is the record trading volumes seen on July 8. This is the biggest spike in trading volumes since the beginning of 2022
The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.
https://getblock.net/en/market-analysis/btc-review-dated-09072022
#BTC #Analytics
🚫Philippine authorities receive recommendation to ban Binance
🔍Infrawatch PH, a Philippines public policy think tank, has called on the Department of Trade and Industry (DTI) to investigate cryptocurrency exchange Binance. The think tank’s experts argued their appeal by the fact that the platform does not have local registration and its promotional offerings lack relevant permissions, the Bitpinas news agency reports.
https://getblock.net/en/news/philippine-authorities-receive-recommendation-to-ban-binance
🔍Infrawatch PH, a Philippines public policy think tank, has called on the Department of Trade and Industry (DTI) to investigate cryptocurrency exchange Binance. The think tank’s experts argued their appeal by the fact that the platform does not have local registration and its promotional offerings lack relevant permissions, the Bitpinas news agency reports.
https://getblock.net/en/news/philippine-authorities-receive-recommendation-to-ban-binance
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⛏Riot Blockchain mined 73% more bitcoins in June compared to the same period in 2021
💰 In June, Riot Blockchain, a mining company, mined 421 bitcoins, a 73% increase over the same period in 2021 (243). The company also sold 300 BTC for $6,2 million last month, and now holds 6654 bitcoins worth more than $143 million in its account (based on the Binance rate as of July 8, 14:40 UTC). In total, according to a report, Riot Blockchain owns 42 455 miners and has a hashrate of 4,4 EH/s.
https://getblock.net/en/news/riot-blockchain-mined-73-more-bitcoins-in-june-compared-to-the-same-period-in-2021
💰 In June, Riot Blockchain, a mining company, mined 421 bitcoins, a 73% increase over the same period in 2021 (243). The company also sold 300 BTC for $6,2 million last month, and now holds 6654 bitcoins worth more than $143 million in its account (based on the Binance rate as of July 8, 14:40 UTC). In total, according to a report, Riot Blockchain owns 42 455 miners and has a hashrate of 4,4 EH/s.
https://getblock.net/en/news/riot-blockchain-mined-73-more-bitcoins-in-june-compared-to-the-same-period-in-2021
🚫Grayscale excludes seven altcoins from its crypto funds
📃Digital asset management company Grayscale has adjusted the composition of several cryptocurrency funds in line with the state of the market at the end of the second quarter of 2022. Digital Large Cap Fund, DeFi Fund, and Smart Contract Platform Select Ex Ethereum Fund (GSCPxE) have undergone rebalancing. No new tokens have been added to any of the trusts, according to the company’s press release.
https://getblock.net/en/news/grayscale-excludes-seven-altcoins-from-its-crypto-funds
📃Digital asset management company Grayscale has adjusted the composition of several cryptocurrency funds in line with the state of the market at the end of the second quarter of 2022. Digital Large Cap Fund, DeFi Fund, and Smart Contract Platform Select Ex Ethereum Fund (GSCPxE) have undergone rebalancing. No new tokens have been added to any of the trusts, according to the company’s press release.
https://getblock.net/en/news/grayscale-excludes-seven-altcoins-from-its-crypto-funds
❗️Fed urges to prevent uncontrolled integration of cryptocurrencies into the financial system
💭US Federal Reserve (Fed) Vice Chair Lael Brainard has called for stronger regulation before cryptocurrencies are integrated into the financial system. In her view, digital assets have the same basic risks as traditional finance and need “strong guardrails.” As an example, Brainard pointed to the recent downturn in the crypto market. At a Bank of England conference on July 8, the official called for international cooperation between financial regulators to combat the cross-border reach of the crypto industry.
https://getblock.net/en/news/fed-urges-to-prevent-uncontrolled-integration-of-cryptocurrencies-into-the-financial-system
💭US Federal Reserve (Fed) Vice Chair Lael Brainard has called for stronger regulation before cryptocurrencies are integrated into the financial system. In her view, digital assets have the same basic risks as traditional finance and need “strong guardrails.” As an example, Brainard pointed to the recent downturn in the crypto market. At a Bank of England conference on July 8, the official called for international cooperation between financial regulators to combat the cross-border reach of the crypto industry.
https://getblock.net/en/news/fed-urges-to-prevent-uncontrolled-integration-of-cryptocurrencies-into-the-financial-system
❌Tether liquidates Celsius’ loan without losses
📢Tether has announced the liquidation of a loan issued to crypto platform Celsius, which had previously frozen customers’ funds to stabilize liquidity. According to a statement on the company’s blog, the issuer of the USDT stablecoin issued a bitcoin-denominated loan that was overcollateralized by about 30%. Representatives of the company reported that Celsius’ position was liquidated without losses to Tether in accordance with the terms of the agreement by the platform. The process was carried out in such a way as to have a minimal impact on the market.
https://getblock.net/en/news/tether-liquidates-celsius-loan-without-losses
📢Tether has announced the liquidation of a loan issued to crypto platform Celsius, which had previously frozen customers’ funds to stabilize liquidity. According to a statement on the company’s blog, the issuer of the USDT stablecoin issued a bitcoin-denominated loan that was overcollateralized by about 30%. Representatives of the company reported that Celsius’ position was liquidated without losses to Tether in accordance with the terms of the agreement by the platform. The process was carried out in such a way as to have a minimal impact on the market.
https://getblock.net/en/news/tether-liquidates-celsius-loan-without-losses
🔍FDIC launches investigation into bankrupt Voyager Digital
📖The US Federal Deposit Insurance Corporation (FDIC) has begun investigating the marketing strategy of the bankrupt crypto broker Voyager Digital. The company has previously reported that any funds deposited are covered by FDIC insurance, thanks to its partnership with Metropolitan Commercial Bank, which, unlike Voyager, has FDIC insurance. Thus, deposit insurance does not protect customers against default, Voyager’s bankruptcy, freezing of funds, or loss in value of products.
https://getblock.net/en/news/fdic-launches-investigation-into-bankrupt-voyager-digital
📖The US Federal Deposit Insurance Corporation (FDIC) has begun investigating the marketing strategy of the bankrupt crypto broker Voyager Digital. The company has previously reported that any funds deposited are covered by FDIC insurance, thanks to its partnership with Metropolitan Commercial Bank, which, unlike Voyager, has FDIC insurance. Thus, deposit insurance does not protect customers against default, Voyager’s bankruptcy, freezing of funds, or loss in value of products.
https://getblock.net/en/news/fdic-launches-investigation-into-bankrupt-voyager-digital
💰OpenSea blacklists NFTs for $29 million
☝️According to blockchain company Dune Analytics, the OpenSea marketplace has blacklisted NFTs worth 24 000 ETH ($29,3 million at Binance rate as of July 9, 10:40 UTC). The non-fungible tokens have been marked by the platform as suspicious or stolen. The list included NFTs from the collections like Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), CloneX, Azuki, Moonbirds, and Bored Ape Kennel Club (BAKC).
https://getblock.net/en/news/opensea-blacklists-nfts-for-29-million
☝️According to blockchain company Dune Analytics, the OpenSea marketplace has blacklisted NFTs worth 24 000 ETH ($29,3 million at Binance rate as of July 9, 10:40 UTC). The non-fungible tokens have been marked by the platform as suspicious or stolen. The list included NFTs from the collections like Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), CloneX, Azuki, Moonbirds, and Bored Ape Kennel Club (BAKC).
https://getblock.net/en/news/opensea-blacklists-nfts-for-29-million
⚠️Crypto exchange 2gether blocks customer funds and demands donations
🇪🇸2gether, one of Spain’s oldest cryptocurrency exchanges, has blocked user funds. In an email to customers, it stated that due to the current market conditions, the platform cannot continue to operate. In order for the accounts to remain active, each user must deposit €20 on 2gether, according to local outlet rtve. According to the exchange, if the customer does not make the payment by July 10, his account will be blocked and all crypto assets will be liquidated.
https://getblock.net/en/news/crypto-exchange-2gether-blocks-customer-funds-and-demands-donations
🇪🇸2gether, one of Spain’s oldest cryptocurrency exchanges, has blocked user funds. In an email to customers, it stated that due to the current market conditions, the platform cannot continue to operate. In order for the accounts to remain active, each user must deposit €20 on 2gether, according to local outlet rtve. According to the exchange, if the customer does not make the payment by July 10, his account will be blocked and all crypto assets will be liquidated.
https://getblock.net/en/news/crypto-exchange-2gether-blocks-customer-funds-and-demands-donations
✅TRON founder to donate $5 billion to affected crypto projects
💵Justin Sun, the founder of blockchain platform TRON, has said that he is ready to spend up to $5 billion to help crypto companies hit during the market downturn. In an interview with The Block, Sun revealed that many projects have already turned to TRON for help. He also added that his company has engaged an unnamed investment bank to advise on potential deals.
https://getblock.net/en/news/tron-founder-to-donate-5-billion-to-affected-crypto-projects
💵Justin Sun, the founder of blockchain platform TRON, has said that he is ready to spend up to $5 billion to help crypto companies hit during the market downturn. In an interview with The Block, Sun revealed that many projects have already turned to TRON for help. He also added that his company has engaged an unnamed investment bank to advise on potential deals.
https://getblock.net/en/news/tron-founder-to-donate-5-billion-to-affected-crypto-projects