Crypto Weekly Roundup: Venus Takeover Attempt, Mastercard NFT, Solana Restart, And More

Although Bitcoin didn’t see many noteworthy moments, Team Solana had a memorable week. The network crash caused a complete system reboot and was the subject of headlines. Let’s take a deeper look at what happened this week.

Bitcoin

Carlitos Rejala is a member of Paraguay’s Chamber of Deputies and announced his intention to run for President in 2023. He also promised that he would pass legislation that would legalize Bitcoin in Paraguay.

MicroStrategy, a business intelligence and analytics software company, announced its latest Bitcoin purchase round. The firm spent over $240 million to purchase 5,050 bitcoin ($BTC) at an average cost of $48,099.

Ronnie Stoeferle (author of “In gold, we trust” report) says we have reached a “monetary tipping points” and the next phase in the upwards Bitcoin movement is not yet underway.

DeFi

Venus Project, a Binance-based lending program, was the subject of a hostile takeover bid. This bid was unsuccessful and was stopped by timely intervention from the original team, who managed to intervene quickly to stop the takeover bid.

Sushiswap was one of the most respected platforms in DeFi. Yesterday, it suffered an exploit at its MISO token launchpad, resulting in a loss of around $3 million in Ether. Joseph Delong, the CTO of SushiSwap later tweeted that all funds had been returned.

Business

Mastercard launched its first ever NFT in partnership with Mourinho, who is currently the global ambassador for Mastercard. One UK winner will be awarded the NFT, which includes a digital signature by the football legend.

Audius, a competitor to Spotify and a decentralized music streaming platform, has announced a $5 million funding round. This includes investments from some of the most prominent names in music.

Coinbase, a US-based cryptocurrency exchange, is applying to become a Futures Commission Merchant (FCM). It has already filed an application with the National Futures Association for the registration.

Altcoins

Solana community validateators addressed the recurring transactional problems caused by high traffic on Solana’s blockchain. They successfully restarted Mainnet Beta.

Technology

Google has recently announced its partnership with Canadian blockchain company Dapper Labs. This partnership will support the development and promotion of Web3 products, services and further promote NFTs and other decentralized services that are part of an emerging standard for the global web.

EY has announced its partnership to Layer 2 Ethereum scaling solution Polygon in order to enable its enterprise clients to perform smoother transactions on Ethereum’s mainnet.

Regulation

Christine Lagarde, President of the European Central Bank, has voiced his disgust at cryptocurrency, calling them “highly speculation” and “suspicious”.

Howard Davies, chairman of NatWest Bank, claimed that Britain would be piloting its own CBDC using the pound in order to lower money transfer costs over the next five-years.

NFT

AMC Entertainment Holdings Inc announced last month that their theatres would accept Bitcoin. Now, the theatre chain will also accept Ether and Bitcoin Cash.

OpenSea, a crypto market, released a statement Wednesday in which they addressed an incident in which one their executives made a profit from insider trading. OpenSea stated that they will implement new policies to prevent another such incident.

Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.

Read More

https://www.cryptodaily.co.uk/2021/09/crypto-weekly-recap-september-19