Ethereum supply declines by 5500 ETH in 5 days
According to Data from ultrasound money, since ETH is no longer being mined, the amount of it hitting the market on a daily basis is reduced considerably by a margin upwards of 90%.
A total of 7,525 ETH has hit the market since the Merge in the shape of fresh supply. Simulating a PoW environment shows us that this number would have been around 340,000 ETH if the network was still running on its old consensus algorithm.
US SEC investigates Bored-Ape’s Yuga Labs unregistered digital assets sales
Bloomberg reported that the Securities and Exchange Commission is probing the startup behind the popular Bored Ape Yacht Club NFT project Yuga Labs over securities violations via the sale of Bored Ape Yacht Club NFTs.
Per the report, which cites an unnamed source, the agency is also investigating the startup over the distribution of ApeCoin, which launched in March. ApeCoin’s price is down 6.51% over the past 24 hours, falling to a current price of $4.4 per token.
BNY Mellon, America’s oldest bank, launches crypto services
The world’s largest custodian bank and the oldest lender in the U.S., Bank of New York Mellon (BK), has added cryptocurrencies to its custody services.
BNY Mellon will now be able to provide those fund managers with storage of the keys necessary to access and move around their bitcoin (BTC) and ether (ETH), as well as the other traditional bookkeeping functions.
Elon Musk’s Boring Company to accept Dogecoin (DOGE) for payments
The Boring Company – an underground tunneling system company established by Elon Musk – diversified its operations by launching a new perfume.
In a recent tweet, Musk revealed that apart from paying in fiat currency, customers are able to buy the perfume in Dogecoin.
Microsoft and Meta partnership brings Office 365 apps to the Metaverse
During Meta’s Connect 2022 keynote on Oct. 11, Microsoft CEO Satya Nadella said its Teams video calling app would integrate with Meta’s “Quest” and newly unveiled “Quest Pro” VR headset allowing people to gather in a virtual space akin to a boardroom.
Familiar Microsoft productivity applications such as Word, Excel, PowerPoint, Outlook and SharePoint will also be made available within Meta’s VR. Nadella added future functionality would include the ability to stream a Windows Cloud computer to Meta’s headsets.
Dominica selects TRON as its national blockchain to issue the country’s official coin
On October 12, the Government of Dominica announced on its official website that it had entered into an agreement with TRON, appointing TRON Protocol as its designated national blockchain infrastructure. Meanwhile, TRON has obtained the government’s endorsement to issue Dominica Coin (DMC), the country’s fan token.
The government may accept Tron governance tokens such as TRX, BTT and JST, as well as stablecoins pegged to the U.S. dollar on Tron’s TRC20 protocol such as USDT and USDD, as payment for public services including tax payments, the order says.
Crypto exchange Huobi Global delists HUSD trading pairs
Huobi announced on Oct. 10 that it would be delisting several trading pairs of the HUSD token on the exchange.
According to Justin Sun, the founder of the blockchain network Tron, Huobi requires a “springboard” from stablecoins to compete on a global scale. As a result, the exchange decided to replace HUSD with USDD, the TRON network’s algorithmic stablecoin. Justin Sun has declared USDD the “most decentralized” stablecoin, which is constantly protected against depeg.
Solana-based decentralized finance platform Mango hit by $100 million exploit
According to Coindesk, Mango, a decentralized finance platform hosted on the Solana blockchain, has been exploited for over $100 million.
In its initial statement, Mango said it was “taking steps to have third parties freeze funds in flight” and “disabling deposits on the front end as a precaution.” Mango’s MNGO token was down nearly 30% in the past 24 hours amid fears that the platform may have been exploited.
BNB Smart Chain to hard-fork following $100 million exploit
BNB Smart Chain, the smart contract-enabled blockchain of crypto exchange Binance, will undergo a hard fork as a fix for the exploit that drained the platform of an estimated $100 million on Oct. 6, according to a post on GitHub.
The hard fork, dubbed Moran, will take place at block height 22,107,423 — estimated to occur on Oct. 12 at 8:00 am UTC. Changes will include fixing a vulnerability in the iavl hash check and introducing block header in sequence checks.
Huobi Global announces Global Advisory Board
Huobi Global has announced its global advisory board composed of industry leaders across blockchain and traditional organizations. The board is established to guide Huobi Global’s business development as well as its strategic roadmap for global expansion.
Following extensive engagement with international candidates for the advisory board, the initial list of Huobi Global advisors includes Ted Chen, CEO of About Capital Management (HK) Limited, H.E. Justin Sun, the founder of Tron, a blockchain DAO ecosystem, and other members.