Crypto Hebdo: from Ronaldo’s partnership to Horizon and the Solana Mobile hack

As the crypto market continues to struggle to avoid the worst case scenario, good and bad news is piling up for the sector. Firstly, there is Cristiano Ronaldo, who has just entered the cryptosphere with his partnership with Binance. Then, Solana announced the launch of a “crypto-smartphone” dedicated to web 3. Finally, Tether announced that they will issue a stablecoin backed by the British pound. But, the postponement of the hard fork Vasil and the Horizon incident ruined the week.

Tether will issue a stack coin with the support of the British pound

This week, US stablecoin issuer Tether announced it will launch a sterling-backed cryptocurrency. After revealing its desire to launch a stablecoin with reference to the Mexican peso, Tether now wants to conquer the UK market, which according to company officials will play an important role in the future of blockchain and cryptocurrencies. Tether CEO Paolo Ardoino said in a press release:

“We believe the UK is the next frontier for blockchain innovation and broader implementation of cryptocurrencies in the financial markets.”

Some see the launch of GPBT as a direct response to EUROC, Circle’s euro-backed stable coin. These two giants are engaged in fierce competition in the stablecoin sector, with Circle getting closer and closer to Tether. At the time of writing, Tether’s capital value is $ 66 billion, while Circles’s are $ 55 billion.

To learn more, read the following article:

👉: Tether will launch a stablecoin denominated in sterling

Cardano exposes vasil hard fork

Earlier announced for this month of June, the Cardano team announced the postponement of the Vasil hard fork to correct seven errors and have more time for testing. In an official statement, the company behind the crypto, Input Output Global (IOD), said:

“So far we have managed to pass the majority (about 95%) of our Plutus V2 test scripts. However, a few things still need to be run to confirm that everything is working as expected. We have decided that we will need a few days more for this. “

IOG explains that integrating the Vasil functionality to enable enhanced support for DeFi applications is proving to be complex.

“This is a difficult process that requires not only hard work from key teams, but also close coordination across the entire ecosystem.”

To learn more, read the following article:

👉: Cardano (ADA) exposes Vasil hard fork to correct multiple errors

Cristiano Ronaldo collaborates with Binance

The best Portuguese and European player ever has established a partnership with the largest exchange in the cryptosphere, with which he will launch a series of NFTs dedicated to the football fan. The Manchester United player and one of the most followed personalities on social networks was enthusiastic about the idea of ​​this collaboration. Cristiano Ronaldo said on his Twitter account:

“Nothing is more important to me than the fans; so the idea of ​​providing unprecedented experiences and access through this platform is something I would like to be involved in. I know the fans will enjoy the collection as much as I do. “

To learn more, read the following article:

👉: Binance collaborates with football player Cristiano Ronaldo

Solana Labs will launch its Crypto smartphone

The company behind Solana unveils its “crypto phone” to allow users to enjoy the benefits of web 3. The phone will include almost all the features that other laptops have. All decentralized applications of the Solana network will also be available in Solana Mobile.

For its debut, the smartphone will only be available in the European market, Canada, the UK and the US. It will cost $ 1,000 upon release. The head of FTX considers this smartphone crucial for the adoption of web 3.

‘Everything is moving towards mobile phones. In most countries, people’s access is gained on a daily basis through their mobile phones, but the availability of cryptocurrencies is currently not optimal on mobile phones ”.

To learn more, read the following article:

👉: Solana unveils its “crypto laptop”

Hacker steals $ 100 million from Horizon

The Harmony team has reported that their network’s bridge application, Horizon, has been the victim of a major hack. In fact, the attacker exploited a loophole in the protocol and stole almost the equivalent of $ 100 million in crypto. This would be the third major hack in the application area across chains this year.

Before Horizon, the bridges of Solanas (Wormhole) and Axie Infinity (Ronin) were hacked, costing them $ 320 million and $ 622 million, respectively. Many experts also dispute the reliability and security of cross-chain applications to guarantee the transfer of funds between chains in the cryptosphere.

Vitalik Buterin, the founder of Ethereum, is on the list of those who need to be vigilant about the future of bridge protocols. According to him, they will be too vulnerable and too exposed to risks by “51% attack “.

To learn more, read the following article:

👉: Hacker steals $ 100 million from Harmony Networks Horizon Bridge

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