Weekly Report (5 – 11 Sep. 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) Japanese Mayors Awarded NFTs For Outstanding Digital Technology Use

Non-fungible tokens (NFTs) are being distributed as a supplemental prize by the Japanese government to local governments that have succeeded in applying digital technology to address local concerns and promote the digital economy…[continue reading]

2) Queen Elizabeth II Causes A Surge In Meme Coins And NFT

The death of Queen Elizabeth II, the monarch of the United Kingdom and Commonwealth nations, on Thursday had a profound impact on the United Kingdom, as the pound fell, inflation rose, and a new prime minister was elected…[continue reading]

3) Polygon (MATIC) To Increase Staff By 40 Percent During Crypto Winter

In light of the ongoing crypto winter, Polygon wants to significantly increase its recruiting by adding up to 40% to its current worker composition. According to Bloomberg, Polygon (MATIC), a scaling and infrastructure platform for Ethereum (ETH), plans to hire an additional 40 percent of staff or around 200 individuals…[continue reading]

4) Coinbase Sues Treasury Over Tornado Cash Bans

Coinbase is supporting a lawsuit filed against the United States Treasury Department by customers of the Tornado Cash Ethereum (ETH) mixing service. Six individuals, including two Coinbase employees, filed the case, the firm revealed in a September 8 blog post. According to the exchange, the defendants utilized Tornado Cash for lawful reasons…[continue reading]

5) FTX Suspends Ethereum Deposits And Withdrawals For Merge

FTX declared its intention to halt ETH and ERC-20 token deposits and withdrawals on September 6 and September 15 due to the Ethereum Bellatrix upgrade and the Merge. Users of the top cryptocurrency exchange FTX will be unable to withdraw or deposit ETH or ERC-20 tokens for at least 30 minutes this month, while the Ethereum network undergoes two critical upgrades…[continue reading]

6) Binance Is Pushing BUSD Stablecoin By Abandoning USDC

Binance has announced that it would convert user balances and new deposits of USD Coin (USDC), Pax Dollar (USDP), and TrueUSD (TUSD) to Binance USD (BUSD) on September 29 at a 1:1 ratio. The world’s largest digital asset exchange by trading volume is launching its “Auto-Conversion” solution for BUSD, which is presently the third-largest stablecoin by market capitalization…[continue reading]

7) The United Kingdom Elects Crypto-Friendly Liz Truss As Its Next Prime Minister

It is probable that Ms Truss’s reaction to the cost-of-living problem, which she pledged to execute within days of joining the office, may define both her premiership and her chances of obtaining a mandate at the next general election…[continue reading]