Crypto Weekly Roundup: Fee Jump For Friend.Tech And More

Friend.Tech’s 24-hour fee jump places the social app in the top three projects for fee generation, only behind Ethereum and Lido, according to data from DeFiLlama. Let’s find out more. 

Ethereum

According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Ark Invest and 21Shares are teaming up to apply for an Ethereum Futures Exchange Traded Fund (ETF).

Cryptocurrency exchange Bitstamp announced it would end Ethereum (ETH) staking services to its US customers as of September 25 due to the rigid US regulatory environment.

According to a post by Farcaster co-founder Dan Romero on August 23, the decentralized social media protocol is migrating to OP Mainnet.

DeFi

Shiba Inu’s much-anticipated Shibarium network, a layer-2 solution built on Ethereum, is gearing up for a fresh launch after encountering initial setbacks.

Blockchain oracle provider API3 has announced that it is launching a new data feed service suite for Polygon zkEVM, designed from a new push oracle solution that’s centered around first-party architecture.

The dYdX foundation has published a list of guidelines and requirements that validators and stakers must comply with to ensure maximum user protection. 

Altcoins

The PEPE token registered a sharp decline in price after millions of meme tokens flooded prominent crypto exchanges such as Binance, Bybit, and OKX. 

A phishing site has seized control of the Terra website, leading the site developers to sound the alarm and eventually freeze the Terra.money website. 

The social app Friend.tech has registered a big increase in protocol fees, generating fees in excess of $1.4 million in a 24-hour period. The team has vehemently denied a report claiming the personal data of over 100,000 users had been leaked. 

Technology

Yuga Labs, the creators of the hugely popular NFT collection Bored Ape Yacht Club (BAYC), announced they will remove support for OpenSea’s Seaport Protocol from February 2024. 

Business

Leading e-commerce platform Shopify will now allow users to make USDC payments thanks to its recent integration of the Solana Pay app. 

Considering the complexity of the ever-evolving crypto market, the trading platform Bitget has introduced the Bitget Protection Fund.

Dropbox has moved its unlimited storage plan to a metered one in order to stop crypto miners’ “uneven usage.”

Binance, the renowned global crypto exchange, has expanded its footprint by introducing its payment solution, Binance Pay, to the Brazilian market.

Binance is pulling its horns in Latin America and the Middle East by withdrawing its crypto payment credit card. 

Coinbase and Circle, the two entities behind USD Coin (USDC), have announced new terms that would change the governance and funding of the USDC stablecoin. 

Regulation

The SEC has charged a former corrections officer from New Jersey for his role in a bizarre cryptocurrency scam. 

The FBI has spotlighted six Bitcoin wallets believed to have connections with North Korea for their alleged ties to activities that breach US sanctions.

Disgraced FTX founder Sam Bankman-Fried has pleaded not guilty to seven new charges brought against him in a Manhattan federal court on Tuesday. 

US District Judge Robert Pitman has dismissed an appeal filed by six Tornado Cash users who sought to lift sanctions placed on the controversial cryptocurrency mixer. 

Security

Magnate Finance, a lending and borrowing protocol that operates on the Ethereum Layer-2 network Base, has apparently orchestrated a rug pull, stealing millions of dollars from users of the protocol. 

Liquidity protocol Balancer has disclosed that it has discovered a critical vulnerability that has impacted over 100 of its v2 pools spread across eight different blockchains. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.