Weekly Report (25 July – 31 July 22) | What Happened This Week In Crypto

This Report will provide you with some essential and quick news about cryptocurrencies that happened around the world.

1) Vitalik Buterin Predicts Facebook’s Metaverse Will “Fail

Buterin has expressed scepticism on the viability of “existing corporate endeavours” to build a Metaverse. Early Sunday morning, the developer of Ethereum gave his thoughts on the future of the young field on Twitter, stating that organisations attempting to establish the Metaverse are unlikely to be successful. While he believes that the Metaverse “will occur,” he believes that “none of the current corporate attempts to deliberately build the metaverse will be successful.”…[continue reading]

2) Crypto Meltdown Boosts Second-Hand Luxury Watch Supply

After weeks of negative pressure on the cryptocurrency market, the quantity of the most wanted luxury watches on the secondary market is rising, putting downward pressure on the prices of Patek Philippe and Rolex models…[continue reading]

3) SEC Official Wants More Regulatory Clarity Following Crypto Incidents

Hester M. Peirce, a commissioner of the United States Securities and Exchange Commission (SEC), feels that recent occurrences in the cryptocurrency market would encourage U.S. authorities to devote more significant effort to establishing regulatory certainty…[continue reading]

4) Turkish Finance Minister Talks About Crypto With Binance Founder

Nureddin Nebati, the Turkish minister of finance, has revealed a virtual meeting with Changpeng Zhao, the founder of the Binance cryptocurrency exchange. Nebati indicated in a July 27 tweet that the meeting’s focus was on the blockchain ecosystem and cryptocurrencies…[continue reading]

5) Armenia Opens Its Doors For Bitcoin Mining

In Armenia, a new ECOS data centre with a capacity of 60 MW has been inaugurated. Full governmental backing for the Free Economic Zone delivers unique advantages and inexpensive mining power. In 2018, the Armenian government tasked ECOS with creating and managing a Free Economic Zone to boost the country’s high-tech and blockchain industries…[continue reading]