Good morning, Breet Gang!
Guess who had the most wonderful weekend, got plenty of rest, but still struggled to understand how it was Monday already? Me.
Such is life 👀
Right before adulting and all the responsibilities that come with a new week take over, it’s time for our crypto News roundup — yay! 🕺🏼
Let’s get started:
1. The two biggest cryptocurrencies decided to slip downwards for most of the week, and on Friday, Bitcoin (BTC) had dipped by 8.24% to $19,821 & Ethereum (ETH) by 9.12% to a low of $1,390. Wahalur for who don tire for bearish market 🥲
2. According to reports, the investment arm of FTX (Alameda Research) has entered a $45 million cash deal to sell its interest in VC Sequoia Capital to the Abu Dhabi sovereign wealth fund, as part of its attempts to repay creditors. Trying times
3. Moving on; Meta, the parent company of Facebook, is currently working on a decentralised Twitter alternative — a standalone text-based app codenamed P92 — which would be built on blockchain technology & allow users have more control over their data and content. An exciting development for Web3! 🚀
4. Up next — Web3 music platform Audius has announced plans to implement a non-fungible token (NFT) gating feature intended to allow artists to release exclusive content to NFT holders. Extra gist? This is coming after streaming service Spotify’s release of token-gated playlists. Issokay! 😁
5. Some good news! Proven, a developer of Zero-Knowledge (ZK) Proof-of-Solvency solution for crypto, has raised $15.8M in a seed round, and the proceeds are to aid Proven’s expansion as well as scale its infrastructure 🥳 .
6. Meanwhile, a White Hat hacker who targeted DeFi protocol Tender.fi has returned $1.6M that was stolen earlier last week (after a Chainlink oracle glitch), and in return, has received a 62.15 Ether ($85,000) Bug Bounty instead. Wahala for who no sabi negotiate o! 🤝🏼
7. Some unfortunate story next — Crypto Financial Services company Blockchain.com is suspending operations of its recently launched asset management arm! Why? They’ve cited the prolonged crypto winter as the reason for this. Yikes 🥶
8. Something is brewing! Starbucks Odyssey, the coffee company’s Web3 loyalty program has released its first limited edition NFT called Stamps that allows members to complete activities (quizzes, in-store purchases) to earn ‘Stamps’ which can be collected or resold on Nifty Gateway. A great idea! 🤩
9. And lastly — Bitcoin Game Developer THNDR Games has released Bitcoin Blocks, its newest Play-To-Earn mobile game that combines elements from popular puzzle games Tetris + Sudoku, and allows players to compete against others to earn Bitcoin, based on their scores. Love the sound of it! 👏🏻
It’s a wrap — you’re all caught up 😁
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Have a great day, Gang! 🕺🏼