๐Ÿ”ด Critical Week for Ethereum

https://www.youtube.com/watch?v=r-fctTGNGBk๏ปฟThe final countdown to the Ethereum merger begins, GameStop doubles down on crypto, and a group of traders just made a fortune from a Coinbase bug. These stories and more this week in crypto.

Bitcoin rises as dollar falls

Bitcoin broke above $21,000, marking its best day in months, as the US dollar index fell 1% and markets were boosted by the Fed’s indication of a more accommodative monetary approach soft Bitcoin rose more than 10% in a single day, its biggest daily percentage since mid-July.

Final Countdown to the Ethereum Merger

The Ethereum blockchain merger is officially underway, in preparation for completion sometime this week. The Bellatrix upgrade, the final “hard fork” of the network before the merger, has now been activated, marking the start of Ethereum’s long-awaited transition from a proof-of-work to a proof-of-work model. proof of participation. In the days leading up to the merger, Binance has already announced the launch of Ethereum staking on its platform, which allows users to earn rewards at an initial rate of 6% per year, one of the highest rewards in the industry.

GameStop is doubling down on Crypto

Gaming retailer GameStop has partnered with crypto exchange FTX US to bring more customers closer to crypto and work together on online marketing initiatives. The new partnership will introduce GameStop customers to the FTX ecosystem, including its digital asset marketplaces, while also seeing the retailer become F TX’s preferred retail partner in the United States.

Traders profit 100x due to Coinbase bug

A bug on the Coinbase exchange allowed traders in the country of Georgia to sell their crypto for up to 100 times the market value. A bug believed to have been caused by a third-party vendor allowed around 900 Georgians to sell various cryptocurrencies at a very profitable exchange rate for the country’s fiat currency, the lari.

MicroStrategy Sells Stock to Buy Bitcoin

Michael Saylor’s MicroStrategy has filed to sell up to $500 million in stock to fund more Bitcoin purchases. The news shows that Saylor is not backing down from his plan to turn MicroStrategy into a crypto proxy. Since 2020, it has used money raised from stock and bond offerings to buy about 130,000 bitcoins, worth more than $2 billion.

US seizes crypto from North Korean hackers

Blockchain data analytics firm Chainalysis has revealed that US authorities have seized $30 million worth of cryptocurrency from North Korean hackers. The seizures represent approximately 10% of Axie Infinity’s total stolen funds. Law enforcement units used advanced tracing techniques to track the stolen funds to collect the points in collaboration with industry officials to quickly freeze the funds.

Bill Murray’s NFT charity funds have been stolen

Hollywood legend Bill Murray has become the latest victim of crypto hackers. The criminals stole over 100 Ether that the actor had raised through a charity NFT auction. Murray’s team says they have filed a police report and are working with crypto analytics firm Chainalysis to identify the culprits.

El Salvador’s Bitcoin Adoption Anniversary

El Salvador celebrated the first anniversary of the adoption of bitcoin. The small Central American nation made history a year ago when it officially declared BTC as legal tender, becoming the first country to do so. Although the price of Bitcoin is down about 70% from its peak and El Salvador has a massive unrealized loss, the country has not given up on the initiative.

That’s what happened this week in crypto, see you next week.

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