14 June

|

11:19 PM UTC
14 June

|

11:19 PM

Crypto News – August 25th

1. BITCOIN RECEIVES A SERIES OF POSITIVE SIGNALS

Early this week, Bitcoin received a range of good news in the “massification” process of expanding knowledge and the application of this largest digital currency by market capitalization in the crypto market.

The first positive signal is that VISA offers Bitcoin debit cards in Brazil, allowing users to pay for some basic transactions and get rewards though every purchase made with the cards.

Furthermore, several universities in the Philippines have incorporated knowledge of the crypto market and Bitcoin into their curricula or individual courses to help students access blockchain and the crypto market.

Besides, 127-year-old Sullivan Bank has begun to provide Bitcoin transaction services, which is good news for the development of Bitcoin as well as cryptocurrencies.

2. “FEI” STABLECOIN MAY CEASE ITS OPERATION

Mr. Joey Santoro, founder of Fei Labs, announced that the FEI architecture will be discontinued due to potential future regulatory risks.

The current FEI’s peg is managed by the protocol-controlled value (PCV), a mechanism for algorithmically managing stablecoins by backing tokens. Mr. Santoro also published a proposal to convert FEI to DAI and distribute PCV among TRIBE holders (governance tokens of the FEI Protocol project).

3. OUTSTANDING CAPITAL CALLS IN AUGUST

Despite the gloom of crypto in the bear market, an array of new projects are still developed, and potential projects are injected with hundreds of millions of dollars by investment funds.

In August alone, famous investment funds such as A16Z, Multicoin, HASH, Aminoca Brands, etc. have allocated more than 100 million dollars to the crypto market.

Some outstanding projects successfully appealing for funding in August are Gunzilla Games ($46 million), Jito Labs ($10 million), Hashflow ($25 million), etc..

Related news

Crypto News – January 5

Regulators Seize Millions in FTX Robinhood Shares In a Delaware bankruptcy court hearing, the US Justice Department announced that it had taken custody of $450

Crypto News – January 3

Gemini Co-Founder Accuses DCG’s Silbert of ‘Bad Faith’ in $900M Funds Stalling Dispute The co-founder of cryptocurrency exchange Gemini has accused Digital Currency Group CEO

Scroll to Top