Ethereum Financial News

Polygon’s zero-knowledge scaling arm, Polygon Zero, is accusing developers of Matter Labs of copy-pasting “a substantial amount of source code” from its Plonky2 library, according to an announcement on Aug. 3.

Coinbase’s Base network has released a user interface (UI) for its official bridge, allowing end users to onboard for the first time without relying on developer tools, according to an Aug. 3 announcement. The team has set Aug. 9 as Base’s “official” release date. The team will award over 100 Ether (ETH), worth approximately $184,000, in grants to developers and content creators as part of a month-long launch event called the “Onchain Summer.”

Google Cloud has partnered with the Ethereum Virtual Machine (EVM)-compatible blockchain network Celo (CELO), and is already running a Celo network validator, according to an announcement.

The United States Internal Revenue Service (IRS) has issued a ruling that clarifies the taxation of cryptocurrency staking rewards. According to Revenue Ruling 2023-14, released on July 31, 2023, crypto staking rewards must be reported as gross income in the year they are received.

Accordint to a report released by Messari, Polygon ($MATIC), a suite of Ethereum-based scaling solutions, unveiled key insights and recent developments in its ecosystem for the second quarter of 2023. Among the key highlights, Polygon Labs introduced Polygon 2.0, a network of zero-knowledge Layer-2 blockchains. This new development aims to become the «Value Layer of the Internet,» bringing significant updates to protocol architecture, tokenomics, and governance.

Astar Network, a leading blockchain platform in Japan, has unveiled its Tokenomics 2.0 strategy, focusing on creating sustainable growth for its native token, ASTR. The announcement comes on the heels of the network's recent integration with Fireblocks, a digital asset management platform, to boost secure DeFi access for over 650 banks and financial institutions.

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Coinbase, the largest publicly traded crypto exchange based in the US,revealed its plans to open mainnet for the public, starting August 9.

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As it continues to grow, liquid staking brings considerable risks to the space and needs better decentralization, according to a report published by digital asset firm HashKey Capital. 

Amid growing uncertainty around Curve exposure for many decentralized finance protocols, Aave Chan founder Marc Zeller has proposed that Aave Treasury buy $2 million worth of CRV tokens in USDT from Curve Founder Michael Egorov.

The Ethereum price has dropped to $1,835 today, representing a 1% loss in the past 24 hours that comes as the wider cryptocurrency market falls by a similar percentage.

Ethereum gas consumption of nonfungible tokens (NFTs) has gone through significant drops since its highs in 2021. Marketplaces and NFT projects that occupied top spots in terms of gas consumption at the time have since shown a sharp decline in two years. 

«Bitcoin surged to US$30,000 yesterday after the positive developments from Fitch downgrade of U.S Treasurys and Microstrategy plan to purchase more bitcoin. However, soon after a news website wrote about Binance could face US fraud charges, BTC immediately started to drop,» Edul Patel, Co-founder and CEO at Mudrex, said. «Currently, it is trading above the US$29,100 level. On the other hand, institutional investors await the US SEC's decision on the approval of a Bitcoin Spot ETF. Despite the excitement surrounding Litecoin's halving event, the coin's value plummeted by more than 5% in the last 24 hours. In the same timeframe, Uniswap's token also experienced a significant decline of over 7.8%,» he added. Bitcoin (BTC) fell 2% to $29,030, meanwhile, its largest peer, Ethereum, was also trading lower and declined below the $1,850 level.

Major cryptocurrencies saw an increase in their prices in the final hours of trading yesterday, coinciding with the news of MicroStrategy Inc's financial recovery in Q2.

Crypto was a completely different world back in 2017.

The Curve Finance lending protocol has terminated governance token rewards for select liquidity pools affected by the July 30 Curve exploit and July 6 Multichain exploit, according to an Aug. 2 social media post from a member of the protocol’s governing body. 

Kanis Saengchote, a researcher at Chulalongkorn University in Thailand, recently developed a framework for identifying and measuring systemic risk in decentralized finance (DeFi) institutions. 

Shibie Coin ($SHIBIE) is a new and captivating meme cryptocurrency looking to attract a loyal community of passionate and bold investors. The term ‘Shibie Coin’ originates from a playful combination of two iconic characters, the Shiba Inu dog and Barbie. 

Six prominent asset managers have filed fresh applications to the US securities and exchange commission (SEC), for the approval of Ethereum (ETH) futures exchange-traded funds (ETFs). The filings come weeks after the regulator accepted spot Bitcoin (BTC) ETF applications in a span of one week.