FALI Crypto Weekly #3

FALI Crypto Weekly #3

Bitcoin (BTC) and the entire crypto market were once again wildly volatile in the early morning hours of August 27 as Fed Chairman Jerome Powell delivered a few brief remarks on the current state of US inflation. It can be said that the Fed is like the culmination of the cryptocurrency market, every time the Fed releases news, the market fluctuates.

In addition to the news from the Fed, during the last week of August, many prominent news also had a two-way impact on the crypto market (Both good news and bad news). Let's take a look at some of these outstanding news with FALI in the summary article below.

- Players left Axie Infinity, StepN: Axie Infinity, StepN, the hit GameFi that have now lost their positions on the daily active player rankings. This means that players are no longer interested in the titles that once led the field.

- Ethereum continues to fall despite the good news from The Merge: At the time of writing this article, the price of ETH hovers at $1485 (According to CoinMarketCap). Although there is a lot of information about Whale is constantly pushing a large amount of ETH to the exchange before The Merge is activated, Ethereum increases bug bounty rewards by four times or Coinbase - Major US CEX exchange launches ETH 2.0 staking token , ready to list ETH PoW. A lot of good news should have pushed the price of ETH higher, but the price of ETH fell seriously.

- Despite the sanctions, Tether continues to support Tornado Cash: Tether or USDT, considering the freezing of Tornado Cash wallet addresses is premature and still waiting for a clear request from the authorities. Tether believes that they will not follow the crowd, the freezing of punished wallet addresses related to Tornado Cash currently has no clear basis. No legal authority has come forward to investigate or issue sanctions, so Tether will keep their position.

- Binance cooperates with Busan - South Korean to develop blockchain infrastructure: A very hot news this past week is that Binance CEO CZ worked directly with Busan mayor, Mr. Park Heong-joon. Specifically, Binance plans to set up an office in Busan later this year, which shows the ambition of Binance, they are trying to attract global support to take over the crypto market.

- Alliance of Solana projects collaborate to launch cross-chain messaging platform: Developed by more than 27 projects on Solana, a product called “Open Chat Alliance” was announced on August 23. . Their plan is to create a transparent and interoperable standard for handling crypto-based messages that can grow rapidly across the industry through the adoption of xMS open source standards.

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