LONDON COURT ORDER BINANCE TO TRACE CRYPTOCURRENCY HACKERS

August 17, 2021

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TL:DR

Happy Tuesday, everyone! This is our fifth newsletter giving you a weekly overview of crypto-news from across the globe.

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Here is the top crypto-news from last week.

MARKETS

▲ Bitcoin

$46,228.34

+0.80%

▲ Ethereum

$3,179.08

+1.56%

▲ Cardano

$2.13

+44.77%

▲ Litecoin

$179.82

+9.04%

▲ Binance Coin

$424.32

+20.35%

*Cryptocurrency data as of Monday at 8:00pm PST. 7d % Average

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Weekly Review

Last week’s market perfomance

Slow and steady wins the race. Perhaps, it seems truer in the case of Bitcoin. As we reported the last week’s performance, Bitcoin crossed $43,000, and luckily this week it crossed $46,000. Because of this, altcoins also performed much better than last week paving way for better hopes within the investors and traders for good days to come. Let’s hope so!

Finance

The global crypto market crosses $2 trillion

Yes, You read that right. The global crypto market has crossed over a $2 trillion mark paving way for Bitcoin’s price to rise. As believed by many, this is going to surge more investors to pour money into crypto ultimately further increasing the prices of tokens. The wider the acceptance of crypt , the earlier crypto will become mainstream.

TRIVIA

_________ is the first game built using Ethereum technology.

A. Cryptokitties B. Minecraft C. Temple Run D. CoinUp

Answer Below.

Security

White hat hackers return most of the $600 million crypto token that was stolen

Maybe it was all fun and games? Hackers who stole $600 million said they did it just for the “heck” of it and will return almost all of the money they had stolen from Poly Network. According to them, they’re white-hat hackers which is a term used for good guys who look at the vulnerabilities of a platform; allows the platform to fix the problems before they become real. The heist did make a lot of people question the security of cryptocurrencies however luckily, as it seems, it will only help to strengthen the future of crypto.

Technology

AMC technology will soon have technology through which users will be able to pay with Bitcoin

AMC Entertainment, one of the top cinema operators within the United States has said they will be receiving payments in Bitcoin by the end of this year through which users will be able to purchase cinema tickets and other royalties. To add to this, according to the CEO there will be certain concessions for people who buy through Bitcoins; thus giving incentives to people to purchase through Bitcoin.

Technology

Polygon MATIC merges up with Hermez Network in $250 Million deal

Last week, Polygon MATIC a layer 2 platform based on the Ethereum network has made a deal worth $250 million; thus allowing for the Hermez network to acquire Polygon’s ecosystem. What this means is, the entire network of Polygon’s employees, their technology will merge with that of the Hermez project. The HEZ network token will be exchanged at the rate of 3.5 MATIC to 1 HEZ and will be completely integrated within Polygon’s platform.

Coin Market Calendar

Date	Project	Website
08/16	BitDAO	$BIT
08/16	Daisy Protocol	$DAISY
08/17	Kryptomon	$KMON
08/17	Cirus	$CIRUS
08/18	Polytrade	$TRADE
08/24	Cryptomeda	$TECH
08/24	Coinspaid	$CPD
08/25	YAY.games	$YAY
08/27	Wanaka	$WANA
08/30	Acala Network	$ACA

Connect to our shareable calendar here.

World Policy

London Court order Binance to trace cryptocurrency hackers

Binance’s struggle in the UK does not appear to be coming to an end as the London Court, one of the country’s strongest courts has ordered Binance to recover $2.6 million of a user who became a victim of hackers. While in the bigger picture it’s not a very large sum but it will help to test how much weightage there is of an English court over crypto-exchanges. It also tells London is not very pleased with Binance.

Closing

Bitcoin energy usage is cleaner than every major industry

According to a report published last week by Bitcoin Magazine, Bitcoin’s energy usage seems to be much cleaner than every other major industry present. This is not what the status quo believes as the primary reason Elon Musk to stop accepting Tesla’s payment in Bitcoin was of course the lack of evidence that Bitcoin runs on renewable energy sources. This, of course, is really good news but will it help to convince those in power, perhaps only time will tell.

While there has been quite some hustle-bustle this week, and the way things are moving in the favor of cryptocurrencies, there is a chance that the bear market might come to an end. Nonethless, time will tell.

TRIVIA ANSWER

A. Cryptokitties

CryptoKitties is a blockchain game on Ethereum developed by Canadian studio Dapper Labs that allows players to purchase, collect, breed and sell virtual cats. It is one of the earliest attempts to deploy blockchain technology for recreation and leisure. The game’s popularity in December 2017 congested the Ethereum network, causing it to reach an all-time high in the number of transactions and slowing it down significantly.