Pre-Ethereum Merge Moves, Hope for Voyager Clients, Nexo Launches Crypto Exchange + More News
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Ethereum Merge news
- Due to the Ethereum (ETH) Merge, HIVE Blockchain Technologies said it has already commenced analysis of mining other GPU mineable coins with its fleet of GPUs, and is implementing beta-testing this week. HIVE's fleet of GPUs comprises approximately 21.5 MW or 16% of the company's global portfolio. In August, the company produced ETH 3,010 (USD 4.6m).
- Switzerland-based crypto bank SEBA Bank, said it has launched ETH staking services, and now, "institutions can play a pivotal role in securing the network by staking ethereum."
- Binance.US said it has launched ETH staking, offering a starting annual percentage yield (APY) rate of 6%.
- Hardware wallet manufacturer Ledger said that, on the day of the Merge, Ledger Live will pause Ethereum services "for as little time as possible, while making sure the network is stable and safe to use." "Important events like the Merge are magnets for scammers trying to gain access to your 24-word recovery phrase. Beware! You do NOT need to update/upgrade/sync/migrate your Ethereum accounts with your 24-word recovery phrase leading up to the Merge," they added.
- Troubled crypto lender Voyager Digital received more than one acceptable bid for its assets, and no bid was clearly the best, Bloomberg reported, citing a notice filed in bankruptcy court Tuesday. A higher final price tag for Voyager may result in better recoveries for customers, per the report. The auction will be held on September 13.
- Digital asset investment products saw inflows totaling USD 9.2m last week, compared with USD 27m outflows a week earlier, per CoinShares data. The predominant inflow was into short investment products. Bitcoin (BTC) saw outflows of USD 11m (USD 29m a week earlier), while ethereum outflows increased from USD 0.9m to USD 2m.
- Major consultancy firm KPMG said it estimates a slowdown in crypto interest and investment, particularly retail firms offering coins, tokens, and NFTs, in the second half of this year. "Of course, some cryptos will die out — particularly those that don’t have clear and strong value propositions. That could actually be quite healthy from an ecosystem point of view because it’ll clear away some of the mess that was created in the euphoria of a bull market," Alexandre Stachtchenko, Director blockchain & cryptoassets KPMG France, said.
- Switzerland-based crypto investment company 21.co said it has raised USD 25m in a round led by Marshall Wace, valuing the firm up to USD 2bn. 21.co is a collection of companies, the largest of which is 21Shares, a major issuer of crypto exchange-traded products.
- Credix, a developer of a protocol and platform for credit investing to investors, said it has raised USD 11.25m in a Series A round led by Motive Partners, and ParaFi Capital.
- Crypto platform Nexo said it has today rolled out its new trading platform, Nexo Pro, to "all five million" clients. It provides its customers with spot, margin, and futures trading functionalities. "In the months to come, new trading incentives will provide additional benefits for existing and prospective NEXO Token holders," they added.
- Marathon Digital Holdings said that, year-to-date through August 31, 2022, it produced 2,222 bitcoin, a 26% increase over the same time period in the prior year. Also, they "continue to expect" to have enough miners installed to generate approximately 23 EH/s near the middle of the fiscal year 2023.
- Due to "liquidity problems," BTC and crypto mining pool Poolin said that the payout of the current BTC and ETH balances on the pool "will be temporarily suspended." Also, the firm suspended its swap services and paused withdrawals from Pool Account. "All user assets are safe and the company's net worth is positive," they said.
- CleanSpark said it has entered into a purchase agreement with Cryptech Solutions for 10,000 brand-new Bitmain Antminer S19j Pro units for a total price of USD 28m, after credits and discounts. The servers are expected to be delivered by late October or early November of this year. CleanSpark said it now has more than 37,000 bitcoin mining machines operational at all its sites, with a daily production high of 14.9 bitcoins.
- The aggressor state of Russia is working with several "friendly countries" on the creation of clearing platforms for cross-border settlements in stablecoins, TASS reported, citing Deputy Finance Minister Alexey Moiseyev. No further details about the project were provided.
- Increasing understanding and capacity in the crypto sphere among all players – regulators, law enforcement, and the private sector – is vital to tackling organized crime and money laundering, both physical and virtual, Europol, the EU Agency for Law Enforcement Cooperation, stressed, as 1,700 participants from 119 countries gathered to the 6th Global Conference on Criminal Finances and Cryptocurrencies in the Hague, the Netherlands, this week.
- The Board of Blockchain Australia said it has appointed Laura Mercurio as the next CEO of this industry body that represents Australian blockchain businesses, effective September 12. Previously, Mercurio held unspecified positions at BlackRock, Merril Lynch, and Deutsche Bank.