Weekly Report (07 Aug. – 13 Aug. 23) | What Happened This Week In Crypto

This Report will provide some essential and quick news about cryptocurrencies happening worldwide.

1) U.S. Debt Increases By $54,900,000,000 In Five Days

According to recently released data from the government’s FiscalData system, the national debt increased by $54.9 billion over the course of only five days. The United States overall debt rose by $658 billion from June 16 to August 10, bringing the grand amount to almost $32 trillion…[continue reading]

2) Visa Presents A Prototype System To Automatically Deduct Gas Costs

Using Ethereum’s Goerli testnet and account abstraction technology, Visa piloted a solution to allow customers to pay on-chain gas fees. Visa, a global payments processor, has launched an experimental solution on Ethereum that makes it easier to pay gas fees…[continue reading]

3) JPMorgan Has A $3 Billion Debt To The United States Government

The amount paid by JPMorgan is $3 billion, making it the biggest of the institutions involved. The FDIC suggested the establishment of these fees in May as part of its “special assessment” plan, which would establish a new system in which the costs of depositor insurance would be paid for by payments from big financial institutions…[continue reading]

4) Huawei Cloud Has Entered The Web3 Market

The ‘Web3.0 Node Engine Service’ part of the Huawei Cloud documentation and user manuals has been updated to reflect the company’s recent push to cater to the Web3 sector. In a blog post published on August 10th, famous crypto news writer Colin Wu noted that Huawei Cloud has updated “the beginning of the Ethereum node engine and TRON node engine.”…[continue reading]

5) The Public May Now Access Coinbase’s Mainnet Named Base

Over a hundred decentralised applications and service providers are now available on the Base mainnet, which was just released by Coinbase. Coinbase’s head for protocols, Jesse Pollak, has said that users may experiment with various dapps and reap the benefits of quicker transaction speeds and reduced transaction costs in comparison to Ethereum…[continue reading]