Crypto News: Coinbase, the world’s leading crypto exchange, announces it will pause withdrawals and deposits during the Ethereum Merge.
- The Merge goes live on the Ethereum Mainnet on 15th September 2022.
- Co-Founder Vitalik Buterin sheds light on the procedures, reflecting on the merger helping reduce carbon emissions.
» Coinbase will Pause User Transactions During ETH 2.0 Merge!
The most anticipated ETH merger of the decade will help the blockchain network become better compatible with DeFi protocols. Simultaneously, the carbon emissions will be allegedly reduced by 99.95%, and the Coinbase statement assures its user base of the same. It comes a week after Binance announced similar strategic planning.
- Coinbase will support the ETH 2.0 Merger in every possible way that aligns with the mission to impart global economic freedom.
- The Coinbase blog post further reads the ETH2 platform will be kept frozen until late 2023 to allow the upgrade to be fully complete.
- Coinbase describes increasing crypto scamming activities as a reason to follow the utmost precautions for a smoother transition.
- The release of the blog post, however, saw the shares of Coinbase tumble by 6% while it’s already tackling Crypto Winter’s aftermath.
→ Google Reveals $1.5 Billion Investments in Crypto & Blockchain!
An Alphabet report reveals Google as the largest investor in Crypto Blockchain projects between Sept 2021 and Jun 2022. Google is said to have invested in 4 blockchain companies, while Samsung, on the other hand, has invested in a total of 13 crypto projects.
- The report adds 40 companies investing in crypto projects and companies during the same period, amounting to $6 Billion in investments.
- The four companies holding $1.5 Billion of Google investment are Fireblocks, Dapper Labs, Voltage, and Digital Currency Group.
- Following Google and Samsung, other giant names with crypto investments are UOB (7), Citi Group (6), and Goldman Sachs (5).
- The Blackrock fund is the second largest investor in the Crypto market with its $1.17 Billion investment spread between Circle, FTX, and Anchorage Digital.
→ EOS Blockchain Gains 24% Ahead of Rebranding Announcement!
The EOS Foundation took to Twitter to announce its rebranding plans going live later today. Creating a stir in the Crypto market, EOS value has ascended by 24% within the past 24 hours.
- The planned hardfork will later follow the EOS Rebranding move on 21st September 2022.
- The EOS Foundation rebranding will go live at 16:00 UTC. It is relatively later than the earlier reports of it going live on 15th August, per the foundation’s CEO Yves La Rose hints.
- EOS foundation is backed by PayPal co-founder Peter Thiel, whose ICO valuation in 2017 crossed $4 billion.
- The rebranding will support the non-[profit foundation in cutting ties with Block.One, its developer and start anew.
→ Celsius CEO Responsible for Unprofitable Trading & Losses!
A report from in crypto news reveals that CEO Alex Mashinsky had overruled the control of trading strategy, causing the firm losses based on false information. The Financial Times report adds that he reportedly sold hundreds of millions worth of bitcoins only to repurchase them at a stark loss later.
- Frank van Etten, then Chief Investment Officer of Celsius, and the CEO reportedly had clashes regarding the firm’s trading strategy.
- The CEO used his powers to limit the sale of shares into Grayscale’s Bitcoin Trust (GBTC), among other activities.
- No concrete consensus can be reached on whether the CEO was running the trading desk, but the collective decisions led the firm to file for bankruptcy in July, with a $1.2 Billion shortfall.
→ BBC Chairman buys Swiss Crypto Firm Shares Amidst Crypto Winter!
A report mentions that Richard Sharp, BBC Chairman, invested in a Swiss-based Crypto Firm founded by a Russian Oligarch. The investment in Atomyze is said to have been done via his interaction with another foreign firm in 2019.
- Atomyze is founded by the Russian Oligarch Vladimir Potanin, having strong connections with Nornickel, Russian mining and smelting giant firm.
- The current investments made and held by Richard Sharp indicate his holding being managed by a third-party, allegedly another investments management firm.
- A spokesman has also come forward, stating that there are no direct connections between the oligarch and the BBC chairman.
→ Koinly & Cointree Partners for Enabling SSO Functionality!
The partnership will help to make the process of crypto taxation easier for the Australian user base,
- First of the one thousand Cointree users to log in to Koinly via SSO will receive comprehensive tax reports for free, valued at AUD 389 each.
- Koinly dominates the Australian market as the go-to service with 700+ integrations for calculating taxes among thousands of Australian crypto investors.
The Single-Sign-On (SSO) services from Cointree login will allow users to view their crypto transactions on Koinly dashboards seamlessly.
Crypto Sale Today – August 17th, 2022
The top cryptocurrency prices in the global crypto market continue to be similar to today’s earlier valuations. The following figures from the crypto news reflect their current individual positions, as shown below:
- (BTC) Bitcoin
- Average Price: $23,716.28
- 24h: – 1.20% ↓
- (ETH) Ethereum
- Average Price: $1,869.00
- 24h: – 1.70% ↓
- (BNB) Binance Coin
- Average Price: $311.53
- 24h: – 1.54% ↓
- (XRP) Ripple
- Average Price: $0.375
- 24h: – 0.08% ↓
- (ADA) Cardano
- Average Price: $0.5457
- 24h: – 2.66% ↓
- (SOL) Solana
- Average Price: $42.02
- 24h: – 4.53% ↓