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Recap: Crypto Contagion, Ethereum Fusion, Tesla Sells Its BTC…

ETH it should be soon connect; the presidentMFA knock on the table; You are here give up his bitcoins; Christie’s triggers the sound Web3 funds; the metaverse create his community; the crypto contagion calms down… The news weeks.

big names in centralized crypto finance (CeFi) fell during a new bear market episode in 2022. This is the case for Celsius, 3AC and Travel Digital. As for DeFi, we defend ourselves from any proximity to these players and their practices.

Can the crypto ecosystem now hope for respite ? This is what the bank proposes Citi. The latter believes that it is the phenomenon of contagion on the market now can be finishedat least as far as it goes liquidity crisis.

This week in crypto news, dismissals continue, however, as with and Gemini. Cryptocurrency prices have seen gains this week, however, such as Bitcoin and Ethereum.

The merger is good for Ethereum

ValueETH regained much of the value lost in the previous weeks. This recovery, the token owes mainly upcoming merger where ” connect “. In September, the two Ethereum networks should indeed become one, completing the transition from PoW to PoS.

Vitalik Buterin however he warned this week that merging was just one step away in the development of public blockchain. After the “Merger”, this will be completed in 55%. More updates await Ethereum: “ Surge, Verge, Purge and Splurge “. A significant increase in transaction processing capacity is especially crucial.

Tesla is selling Bitcoin for cash

The information did not go unnoticed. You are here has released nearly a billion dollars worth of BTC during the second quarter of 2022. Builder led Elon Musk thus liquidated most of his bitcoins purchased earlier in 2021. Due to economic uncertaintythe manufacturer explains that it has need cash.

Tesla was one of the companies that have the most bitcoins. This sale is therefore not insignificant. Its CEO, however, assures that it is not does not in any way translate into a waiver of cryptocurrency. By the way, the automaker still holds $218 million worth of crypto-assets and still accepts Dogecoin in the Tesla derivatives store.

The time has come for AMF approval!

Crypto companies haven’t really had their moment of glory in the first half of 2022. This is the assessment given by the president of the AMF, Robert Ophele, who will leave his position very soon. On the occasion of the conference SBB22a senior official estimated that the market has lost user trust and part of the regulator.

How then restore that trust? Thanks for compliance with regulations. MiCA has been adopted, but its implementation will take at least two more years. In France, companies can, even must, to predict. Solution: Don’t settle for PSAN registration anymore accreditation, more demanding. In fact, none of the PSANs have been approved today.

Christie’s: from auction to Web3 acceleration

House Christie’s a real step forward in the digital field. The company accepted NFT by organizing NFT sales. Now he wants to they support the transformation of its core business by helping start-ups. The historic auction player is launching Christie’s Ventures for that.

Therefore, it is a question of providing support and financial resources to fintechs and technology startups that develop relevant solutions for the art market. And specialists for Web3 are of course among her targets. LayerZero Labs becomes the first blockchain startup to benefit from its investment fund.

The other side is revealed and the ecosystem of the metaverse unites

The crisis of crypto values ​​does not mean the shutdown of projects, at least not all of them. Yuga Labs, creator of the famous BAYC collection and ApeCoin token, is being talked about again. His Otherside metaverse project continues its development. The first demonstration was performed, but only with 4,300 NFT holders. Phase 1 begins.

What Yuga Labs has to offer the other side ? Many uses undoubtedly remain imaginary. And that’s the case for the metaverse as a whole. Design them and also show value open virtual universes, key players in the sector meet. Powered by Metacircle, a dedicated think tank whose goal is to support the most promising projects and ensure the development of the metaverse from Europe.

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