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! 🕺🏼
