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Crypto News – Coinbase Introduces Wrapped cbETH Ahead of Merge!

Crypto News: A report states Coinbase will offer wrapped ETH tokens that users can withdraw, stake, and more!

  • Ahead of the Ethereum 2.0 Merge, Coinbase launches its ERC-20 tokens called Coinbase Wrapped Staked ETH (cbETH).
  • Users would be able to convert their ETH2 tokens into cbETH and earn incentives on staked ETH tokens.
  • The Merge will be launched on the Beacon Chain with Bellatrix upgrade beginning on September 6th per Ethereum Foundation.
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» Coinbase Launches cbETH: Why does it matter?

Coinbase aims to improve its crypto exchange operations and DeFi applications support by releasing the cbETH.

  • Whitepaper of cbETH reads it to be developed for robust application for trading, transfer and De-Fi use.
  • The cbETH will function as a compound token since it is the most compatible with its ERC-20 token standard.
  • However, cbETH and ETH are not pegged nor expected to be 1:1 interchangeable.

» More Crypto News Today!

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→ Russia Fines Irkutsk Crypto Miners $1.7 Million!

The Irkutsk region in Russia has been reported to have high illicit electricity use, apparently for crypto mining purposes. According to reports, the regional energy companies have already filed several lawsuits against such practitioners.

  • The high electricity use has caused outages in residential and commercial areas in the Irkutsk region, where it comes as cheap as $0.01 per kWh.
  • There have been over 400 lawsuits filed against various crypto miners, leading to them paying over $1.7 million in fines.
  • The Irkutskenergosbyt utility recovered over 63 million rubles from illegal mining operations in the region.

Also Read: Crypto Mortgage: Buy a House with Crypto & NFTs!

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→ Mint WerX & BlueRidge Data Partner to Empower Edu & Non-Profits!

The partnership will benefit non-profit institutions with next-gen crypto solutions. The custom configured web3 solutions will be fundraised by the companies to assist and accelerate education institutions.

  • The web3 solutions will be built on DonorFi technology by Mint WerX, allowing institutions to receive crypto donations seamlessly.
  • The partnership between the companies will aid university foundations, career services, advancement offices, etc.
  • Future releases of the web3 fundraising applications will include capabilities like tuition, admissions, e-commerce, institutional research, ticketing and more.

→ Riplo & Visa Partner To Launch Crypto Cards in Brazil!

The Prepaid Debit cards will be the newest crypto payment option in the Brazil region, launching by the end of the year.

  • Initially, only 250,000 Prepaid Debit Cards will be issued that support crypto transactions. However, it will benefit over one million South African users.
  • The Crypto Prepaid Cards will support 28 cryptocurrencies, the same as on the Riplo platform and Brazilian Reals.
  • The platform is considering and working on developing to allow rewards in cryptocurrencies other than BTC.
  • Riplo will eventually release the card in Argentina to rival its competitors, Binance and Mastercard.

→ Big Eyes Coin (BIG) will Rival Shiba Inu (SHIB) Crypto!

A report by analysts states that BIG tokens can dethrone the SHIB tokens. Based on the Ethereum network, the BIG tokens have a circulation of 200 billion tokens!

  • The BIG tokens will launch on the UniSwap platform, the primary decentralized exchange that facilitates Ethereum smart contracts.
  • The BIG tokens community is the leading factor that will drive its prices higher.
  • On the other hand, its applications will include NFT contests and Big Eyes Coins Swapp facilitating zero fees exchange.

→ Vitalik Buterin, Ethereum co-founder, Emphasizes ETH Importance!

The co-founder responded in a Tweet that ETH is proving to boost businesses, charities, and national economies across the globe. The tweet reflects on how people continue to underrate how superior cryptos are helping the world with the convenience of payments.

  • A PYMNTS study reports that 85% of businesses exceeding $1 billion in revenue are adopting crypto payment systems.
  • Studies also show that Crypto payments are reportedly cheaper than fiat transactions across the globe for businesses and charity purposes.
  • An excellent example of the claims is the Crypto Support provided to Ukraine, raising $54 million in crypto. In comparison, international-scale fiat transactions are relatively slower and costlier.

Crypto Sale Today – August 25th, 2022

The top cryptocurrency prices in the global crypto market appear to favor crypto today. The following figures per crypto news source reflect their individual positions:

crypto news
  • (BTC) Bitcoin
    • Average Price: $21,571.89
    • 24h: + 0.55% ↑
  • (ETH) Ethereum
    • Average Price: $1,679.41
    • 24h: + 2.27% ↑
  • (BNB) Binance Coin
    • Average Price: $297.47
    • 24h: – 0.40% ↓
  • (XRP) Ripple
    • Average Price: $0.3483
    • 24h: + 1.39% ↑
  • (ADA) Cardano
    • Average Price: $0.4616
    • 24h: + 0.60% ↑
  • (SOL) Solana
    • Average Price: $35.64
    • 24h: + 1.72% ↑

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