Week 02/05 in short – News about Bitcoin and cryptocurrencies is constantly boiling. It can happen that crucial information is lost in the daily information flow and that important points are missed. This format is there to remedy it. We return to the news of the past week inCrypto Weekly to keep you informed about the current situation of cryptocurrencies.
Crypto news in short
▶ Polkadot implements XCM and becomes fully interoperable. Thus, this protocol allows parachains to send data and tokens to each other, atomically.
▶ Solana again offline. Blockchain was overwhelmed by transactions so it could not hold the load. It took 7 hours for the network to restart.
▶ Binance obtains PSAN approval. The cryptocurrency exchange giant has just been given the sacred PSAN, which makes it possible to operate legally in France.
▶ Ronin strengthens his security. This security reinforcement follows the attack that was aimed at its bridge. This had caused the loss of $ 600 million in cryptocurrencies.
▶ The Bored Ape broke Ethereum. On April 30, Yuga Labs, the company behind Bored Ape, launched the sale of Otherdeeds, plots for their upcoming metaverse. Demand, however, was such that Ethereum faced significant congestion.
▶ Telegram uses TON crypto. Thus, users can now send TONs to each other directly from the application. An astonishing handball after the regulatory setbacks that Telegram encountered.
▶ This week, Sami receives Pierre Morizot from Waltio to discuss the state of cryptocurrency taxation in France.
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5 measurements of the week
➤ 10%it is the share of all ETH in circulation invested in the beacon chain. In total, this represents 12 million ETHs that have been blocked to participate in the validation of blocks on the proof of stake version of Ethereum.
➤ $ 80 millionit is the amount stolen from the Fuse protocol developed by Rari Capital. In practice, the attacker exploited a so-called reentrancy error that allowed him to suck the pools of the protocol.
➤ $ 1.6 billionit is the alarming record for DeFi hacks since the start of 2022. By comparison, $ 1.4 billion was stolen throughout 2021.
➤ $ 500 millionit isenvelope deposited by Binance during Elon Musk’s takeover of Twitter. In fact, $ 7.14 of the $ 44 billion spent on the acquisition came from mutual funds.
➤ $ 265,000it is the amount Yuga Labs spent on reimbursing users harmed by the launch of Otherdeeds. Users whose transactions failed due to network conditions were thus reimbursed for their gas charges.
Tweet of the week
This week’s tweet goes to @CryptoGaryy and his reminder of the implications of Binance achieving PSAN status. In fact, for the savvy who had been wary of not filing their Binance account when filing their tax return, the surprise could be big now that Binance is a service provider regulated by PSAN.
Have a great week at the Journal du Coin! 🙂
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