Cryptonomics – your weekly crypto & blockchain readings 📰
1st August – 6th August
This is Rizvi, entrepreneur and crypto enthusiast based in Zurich, Switzerland. Every week, I’ll share with you some of my weekly readings and thoughts around crypto and blockchain topics, from market insights to trading activities. Feedback is more than welcome!
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📈 What happened in the markets this week
Ethereum’s “London” hard fork including EIP 1559 is finally here. A major change to the Ethereum network has been implemented, changing the way transaction fees are handled. From now on, a portion of the transaction fees will be burned, potentially leading to a lower supply of Ethereum over time and hence making it a deflationary token. 📰 Decrypt
Germany starting to let some funds hold crypto on their balance sheet. A new law allows certain institutional funds in Germany to invest up to 20% of their assets into bitcoin and other cryptocurrencies. The class of funds looks after $2.1 trillion in assets. 📰 Bloomberg
U.S. stocks regulator offers crypto hints. The chairman of the U.S. securities regulator, Gary Gensler, gave a speech outlining his thoughts on crypto regulation, coming out largely in favor of the emerging asset class which will be required to further boost the growth of Bitcoin and other cryptos. 📰 World News
Bitcoin miners could be exempted from tax rules. Lawmakers in the U.S. are proposing to exempt Bitcoin miners from potential new rules that would increase their tax liability. The rules are part of a major infrastructure bill that has wide-ranging and mostly negative implications for the crypto world. 📰 Decrypt
ATM leader plans crypto roll-out. One of the world’s largest ATM manufacturers, NCR, has acquired the crypto ATM firm LibertyX. The $73 million acquisition is intended to help NCR integrate crypto features throughout its network. 📰 Coindesk
NFT markets are back in hype again. A series of big-ticket buys in the NFT market indicate the market is back. Multi-million dollar buys of CryptoPunks, Stoner Cats and other projects, and over $100 million in volume on the OpenSea marketplace within days suggests the market is hot again. CryptoPunks for example are listing at 50 million and beyond. 📰 Decrypt
Ether is rocking with a recording winning streak. Ether traded higher for 12 days straight, a new record for the cryptocurrency. The price gains are thought to be caused by interest in the “London” hard fork, which was activated this week📰 Coindesk
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