Adoption
Web3
Web3 space has lost $1.48 billion to cyberattacks since January
Web3 lost a total of $1.478 billion to cyberattacks from January to May 2022, with only 4 incidents being responsible for 81%.
Bear Market
Miners sold 14K Bitcoin worth $300M on July 15, largest dump since January
Data from CryptoQuant shows that Bitcoin worth over $300 million was sold by miners within a 24 hour period on July 15.
Exchanges
Gemini eyes further staff cuts to control costs amid crypto winter
Reportedly, crypto exchange Gemini is going for the second round of layoffs by firing 15% of staff to further cut costs.
Mining
Samsung’s new mining chips will be 45% more efficient
Samsung announced it will begin the production of 3-nanometer chips that will be 45% more power efficient.
NFTs
Time Magazine looks to turn all future subscriptions into NFTs
The President of Time Magazine recently said he hoped to fully digitalize all future subscriptions and migrate into NFTs on"TIMEPieces" collection, so that all consumers can own their data.
Mining
Sweden averse to Bitcoin mining amid rapid rise in energy demand
Sweden is looking to redirect the energy being used by crypto miners to operations that would create more jobs in the country.
Crime
Mixer usage sees all-time high thanks to nation-affiliated cybercriminals
Chainalysis' recent report revealed that crypto mixer platforms reached an all-time high of $51.8 million, with the majority of the volume coming from criminals with known nation-state affiliations and sanctioned entities.
Mining
Paraguay’s new bill may turn the country into mining heaven
The Senate of Paraguay sent a new bill for the approval of the President. If the bill passes, crypto miners could use affordable excess energy and be exempt from VAT.
Web3
Start-ups turn to crypto-native messaging platforms
Prominent entrepreneurs say there is a need for web3 messaging platforms. A handful of startups are already working on a solution.
Bear Market
Glassnode analysis suggests Bitcoin might be near bottom
A recent analysis from Glassnode detected an increase in the long-term capitulation, which suggests Bitcoin might have reached its bottom. On the other hand, Wall Street thinks it'll go as low as $10,000.
Analysis
Gaming going strong amidst crypto winter with 1.1 million UAWs
Numbers show that gaming activity makes up for 52% of all unique active wallets (UAW), with Splinterlands being the most popular game.
People
Charlie Munger calls crypto holders ‘insane’ for investing in nothing
Warren Buffett's right hand Charlie Munger recently criticized crypto and said he avoids it like an "open sewer".