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  • Ethereum 2.0 stakers sitting on an unrealized average loss of 55%

    Ethereum 2.0 stakers sitting on an unrealized average loss of 55%

    During the peak, the total USD value of staked ETH climbed to a whopping $39.7 billion, accounting for 263,918 network validators. Post ATH, however, the USD value in the 2.0 contract dropped by $25.65 billion.

    As per Glassnode’s data, with the spot price hovering near $1,182, ETH 2.0 stakers are, on average, holding a loss of around 55%. When this figure is compared to the Realized Price for the entire token supply, the 2.0 stakers are currently shouldering 36.5% larger losses compared to the general Ethereum market.

  • Celsius lost $350 million due to high-risk trading strategies

    Celsius lost $350 million due to high-risk trading strategies

    A new report by blockchain analytics firm Arkham Intelligence stated that Celsius entrusted corporate funds of around $530 million. Failing to hedge the risk resulted in a loss of $350 million when the asset manager returned capital corresponding to the value of the crypto assets.

    The asset manager was identified as the team behind the investment firm KeyFi, led by CEO Jason Stone. The research further speculated that the crypto assets could be part of Celsius’ liabilities to customers.

  • RICE Wallet announced new strategic alliance with IVIRSE.

    RICE Wallet announced new strategic partnership with IVIRSE

    RICE Wallet has announced an official strategic partnership with IVIRSE, a newly launched digital healthcare project.

    RICE Wallet will integrate IVIRSE/ISC’s services payment on the RICE Wallet application, as well as the DApp ISOFHCARE, while promoting and introducing products to both parties’ users.

  • Ethics Watchdog bars US Government employees from writing crypto policy if invested

    Ethics Watchdog bars US Government employees from writing crypto policy if invested

    A legal advisory notice issued by the U.S. Office of Government Ethics (OGE) on Tuesday declared that U.S. officials who are personally invested in cryptocurrencies are now disqualified from working on crypto-related policy and regulation that could affect the value of their assets.

    The directive applies to all White House staff and the employees of all federal agencies, including the Federal Reserve and Treasury Department.

  • Marathon Q2 Bitcoin production down 44% as fleet remains crippled

    Marathon Q2 Bitcoin production down 44% as fleet remains crippled

    Bitcoin (BTC) mining company Marathon Digital Holdings experienced a steep 43.8% decline in Bitcoin production over the second quarter of 2022, with June registering as the company’s least productive month in over a year following the fall of its Montana facility.

    In its latest mining operation update released on July 7, Marathon reported that it produced 707.1 Bitcoin in Q2 2022, down 43.8% from 1258.6 Bitcoin mined in Q1 2022.

  • Animoca, WeMade, Samsung Next back Web3 studio to develop open-source games

    Animoca, WeMade, Samsung Next back Web3 studio to develop open-source games

    Community-driven gaming firm, Planetarium Labs, has raised $32 million in Series A funding, backed by Animoca Brands, Samsung Next and WeMade.

    The funds will be used to build a blockchain-based gaming ecosystem based on Libplanet blockchain technology, allowing gamers to join the game network while also providing users a voice in open-source content development.

  • Reddit to launch NFT avatars built on Polygon

    Reddit to launch NFT avatars built on Polygon

    In the coming weeks, Reddit will be launching a new Collectibles Avatar marketplace leveraging non-fungible tokens (NFTs) hosted on Polygon’s blockchain.

    Home to countless forums and online communities, the website will partner with independent artists to create unique avatars that Reddit users can buy for a fixed price and customize with gear, yielding creators a slice of the sales.

  • Survey shows 55% of crypto investors chose to HODL as Bitcoin and altcoin prices collapsed

    Survey shows 55% of crypto investors chose to HODL as Bitcoin and altcoin prices collapsed

    According to a recent survey conducted by Appinio and despite the collapse in crypto prices and the start of the bear market, “55% of crypto investors held their investments in response to the recent crypto-asset market sell-off with just 8% selling their investments.”

    The study also found that “33% of American investors are invested in crypto-assets,” and “40% of investors believe Bitcoin presents the best investment opportunity over the next three months.”

  • US Treasury issues framework addressing engagement on crypto with foreign regulators

    US Treasury issues framework addressing engagement on crypto with foreign regulators

    US Treasury issues framework addressing engagement on crypto with foreign regulators

    The U.S. Treasury said it had reported on a regulatory framework for cryptocurrencies in consultation for International Development and other government agencies as required by President Biden’s executive order on digital assets issued in March.

    According to the Treasury Department, the framework aimed to encourage the development of digital assets while respecting “America’s core democratic values” and ensuring the stability and safety of the global financial system and international monetary system.

  • DeFi giant Aave wants to launch its own stablecoin

    DeFi giant Aave wants to launch its own stablecoin

    Aave founder Stani Kulechov announced that they have created an Aave request for comments for a new decentralized, collateral-backed stablecoin, native to the Aave ecosystem, known as GHO.

    This means Aave’s proposal for a new stablecoin is now in the hands of its DAO—its community of AAVE token holders that vote on decisions that affect the protocol’s future.