Weekly Crypto News for 8/23/21 to 8/29/21 — Curated by BearTax
From Budweiser & Visa entering the #NFT world, cuban govt looking to regulate crypto payments, and a bug that’s affecting over 54% of $ETH nodes, here’s your crypto digest for 8/23/21 to 8/29/21!
1/ Budweiser & Visa Take Their First Steps Into The NFT Universe
a) Budweiser
- Changed its Twitter profile picture to a rocket ship designed by NFT artist Tom Sachs. It was bought for 8 ETH ($25,000)
- Purchased Beer.eth domain for 30 ETH
- Investing in a new NFT media shop run by internet entrepreneur Gary Vaynerchuk
- The shop, touted as a long-term business play, will see the intellectual property of Budweiser and other beer brands packaged and sold as NFTs.
b) Visa purchased ‘CryptoPunk 7610’, which is one of the 3,840 “female” punks — for $150
Main purpose behind purchase:
- Understand infra requirements for a global brand to purchase, store, & leverage an NFT
- Signal their support for those developing NFT commerce
2/ Central Bank Of Cuba Issues Resolution To Regulate Commercial Crypto Payments!
- Financial institutions may use crypto to carry out monetary & mercantile operations; exchange & swap transactions
- Govt. agencies must refrain from crypto transactions, except in cases authorized by the Central Bank of Cuba
- Persons assume the civil & criminal risks posed from operating with crypto & service providers that operate outside the banking & financial system
3/ SEC Signs Deal To Investigate DeFi Transactions
U.S Securities & Exchange Commission signed a 1 year contract of $125K, with a surveillance firm AnChainAI to:
- monitor for cybercrimals
- identify unknown addresses & transactions that could be suspicious
4/ A Bug Affects Over 50% Of Ethereum Nodes
- 73% of nodes running the older versions of Geth ($ETH network client) has split from the main network due to a bug
- This could lead to double spending attacks: Crypto is spent, but transactions are overwritten by alternative chain
5/ Blockstream Raises $210M, Valued At $3.2B
Funding will help:
- develop more BTC-focused financial products
- advance its blockstream energy service, that expands the potential reach of BTC mining to renewable energy sources in remote locations: https://www.coindesk.com/tech/2021/08/17/blockstream-energy-could-let-bitcoin-miners-set-up-anywhere-theres-a-power-source/
