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This Week in Crypto...

July 4, 2021

Over the weekend, Iran’s Ministry of Industry issued 30 licenses to crypto mining farms. This decision came despite sweeping bans on miners due to power shortages caused by drought.

On Monday, 

Developers of Ethereum Classic announced a hard fork to implement the projects latest update. The update will improve security and save on gas costs by allowing users to access addresses and keys in a single transaction. The update is now scheduled for late July.

The Monetary Authority of Singapore announced a fintech global challenge for anyone who could find solutions for its CBDC. They are offering $37,000 USD for each of three winners, as well as expert digital currency mentorship.

On Tuesday,

Craig Wright has won a copyright battle against Bitcoin.org for hosting the Bitcoin white paper. Bitcoin.org must now remove the Bitcoin white paper, host a notice referring to the court’s judgment, and pay $48,600 to cover Wright’s legal costs.

Ethereum investment products have experienced a record outflow of $50 million this past week. Despite the drawdowns, $943 million has flowed into Ether investment products since the start of 2021.

On Wednesday,

Ethereum 2.0 reached 6 million staked Ether. This represents a significant milestone because it is ten times more than the Ethereum Foundation required at launch six months ago.

New York Digital Investment Group (NYDIG) partnered with enterprise payment giant NCR to allow Bitcoin services for 650 banks and credit unions in the United States.

On Thursday,

Rishi Sunak, chancellor of the Exchequer for the United Kingdom, announced a list of reforms the government will plan to undertake in the next few years. Among them was a central bank digital currency.

The President of Kazakhstan issued and additional tax on energy used for crypto mining. The new tax is set to take effect January 2022. This comes after a bill passed in mid-June which included amendments to the national tax code concerning crypto miners.

On Friday,

The professional basketball team Portland Trail Blazers signed a deal with StormX to have their logo on the players’ jerseys for the next five years. The duo will also launch Trail Blazer NFT’s in the form of digital collectibles. StormX is a blockchain company that allows users to earn crypto rewards by completing micro-tasks or shopping at partner stores online

Ethereum (ETH) flipped Bitcoin (BTC) in number of active addresses. BTC active addresses have been decreasing in past six weeks from 1.3 million to roughly 500,000.


For more information on these stories, visit: 

Bitcoin’s active addresses fall below Ethereum’s after 60% drop in six weeks (cointelegraph.com)

Iran's Ministry of Industry Issues 30 Licenses to Crypto Mining Farms - CoinDesk

Ethereum Classic devs announce upcoming hard fork (cointelegraph.com)

Singapore Monetary Authority Announces Global CBDC Challenge - BeInCrypto

Trail Blazers Announce StormX As The First Cryptocurrency Jersey Patch Partner in the NBA | Portland Trail Blazers

Ether sees record outflows in last week of June: CoinShares - CNA (channelnewsasia.com)

Kazakhstan Announces New Electricity Surcharges For Crypto Miners - BeInCrypto

Ethereum 2.0 To Reach 6 Million Staked ETH Milestone (coss.io)

UK chancellor names CBDC on list of financial reforms for Treasury (cointelegraph.com)

NYDIG Launches Bitcoin Trading for 650 U.S. Banks | Crypto Briefing

Self-Crowned Bitcoin Inventor Wins Lawsuit Over Whitepaper Copyright Claim - Decrypt

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