Pocket News

Welcome to Clutch’s weekly pocket news.

 

Each week, we’ll keep you up to date on C&C (Clutch & Crypto). We will share web3 news stories, Clutch Wallet updates, community news and most importantly, weekly memes.

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AUS gov't wants to "map" crypto, FTX revenue soars, BTC and ETH plummet as Feds raise interest rates in U.S.

AUS gov't wants to "map" crypto, FTX revenue soars, BTC and ETH plummet as Feds raise interest rates in U.S.

The merge, the most significant blockchain upgrade in crypto history, is set to be completed sometime between September 10-20. Many Ethereum users are HYPED about this but some of you may be wondering what the merge is, why it is important, and why your Eth got drained when you tried to swap it for Eth 2.0. For those of you looking for answers, look no further. You can catch all the gory deets in our article: 

 

What even is the Merge?

Crypto News

Australia will use “token mapping” to regulate crypto.

Australia’s Treasury plans to focus on token mapping which will help identify which crypto assets are being used and how they should be regulated. Token mapping includes classifying tokens based on various asset types and considering their underlying code. Treasurer, Jim Chalmers, wants the government to embrace new and innovative technologies while safeguarding consumers.” 

FTXs revenue soars 1000%.

FTX, a Bahamian crypto exchange, revenue soared from $89 million to $1.02 billion during the bull market in 2021. Founded just three years ago in May 2019, FTX is now the third largest crypto exchange behind Coinbase and Binance. Since its beginning, FTX has bought exchanges in Canada and Japan and 15 smaller companies worldwide. 

Telegram may launch TON-coin powered marketplace with a “.ton” domain.

The 700 million users on the messaging service may now get to own their usernames. CEO Pavel Durov suggested that Telegram may use NFT-like smart contracts to auction sought-after usernames. On July 30, the first auction went live, and Telegram used the “.ton” variant much like the Ethereum Name Service “.eth” domains. 

Mastercard announces partnership with the largest crypto exchange, Binance.

The global card payment giant announced they partnered with Binance to launch a payment card supporting 14 cryptocurrencies. The card swaps cryptocurrencies into fiat at the point of sale and first launched its Beta phase in Argentina on August 4. Mastercard plans to have the card supported in 90 million online and physical stores.

Markets wyd?

Bitcoin (BTC) is down 5.18%, while Ethereum (ETH) is down 4.11% in the last week. Bitcoin dipped below $20,000. Ethereum hit a low of $1430.59. BTC dropped 5% on Friday following U.S. Federal Reserve Chair Jerome Powell’s keynote address stating the feds are raising interest rates again. 

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Topic: Cold Wallets: All You Need to Know

Date: Tuesday, August 30

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Written By

Nargiza Schmidt

Weekly Newsletter

Web3 news, Clutch Wallet updates, community news, and most importantly, weekly memes.

Weekly Newsletter

Web3 news, Clutch Wallet updates, community news, and most importantly, weekly memes.