Although last week was less turbulent than usual, there were still many things that will impact the cryptocurrency market in the long run, such as bankruptcies or the adoption of Bitcoin. So without further hesitation, let’s get started!
Celsius Network got into trouble because it started lending out cryptos at very high percentage returns and then couldn’t handle the situation when the bear market began. Here we go again. Now Celsius got into a situation where it had to file for Chapter 11 bankruptcy, and most clients will lose a lot of money as a result. This filing allows Celsius Network to continue in its business and reorganize its liabilities under the supervision of the courts.
Moments ago, @CelsiusNetwork filed voluntary petitions for Chapter 11 protection and announced that the company initiated a financial restructuring. https://t.co/vf5wsT6TMp
— Celsius (@CelsiusNetwork) July 14, 2022
Related blog: France wants to have CBDC by 2023
Tony Hawk & Playboy = Sandbox partnership
The Sandbox and legendary skateboarder Tony Hawk are working together on the “world’s biggest skate park” and 36 virtual parcels of land in the metaverse. To create custom skate challenges, gamers will be able to build their very own ramps and install them in the metaverse. Additionally, you’ll be able to buy new accessories to make your avatar seem fantastic.
“I’ve been a fan of new technology all of my life — from the first video games to home computers with CGI capabilities — so I’m fascinated by the metaverse,” Tony Hawk added.
📢 We’re thrilled to announce that the legendary @tonyhawk is coming to The Sandbox to build the biggest skatepark in the #metaverse alongside @Autograph! 🛹
Gear up from head to toe, compete with other fans for the perfect tricks and ascend to half-pipe heaven! pic.twitter.com/idLW9HjQl8
— The Sandbox (@TheSandboxGame) July 13, 2022
Sandbox is one of the most significant metaverse crypto projects in the space, and recently it has also partnered with Playboy to launch the first Metamansion in the Sandbox. Playboy, a renowned lifestyle brand, has partnered with the NFT-based Metaverse game platform to advance Web3 adoption. Playboy’s MetaMansion is set to add Web3 offerings that will host social, gaming, and programmed events, along with future NFT releases from the company.
$8 million Uniswap phishing attack
The crypto world is still not fully understood, and scammers are going after your money in many ways. In a phishing attempt on Tuesday, a Uniswap users lost more than $8 million worth of Ethereum (ETH) when the attacker used an airdrop bait to deceive users. Reportedly, 73,399 wallet addresses that were connected to Uniswap received a malicious token posing as a Uniswap (UNI) token airdrop based on their liquidity pool positions on Uniswap version 3.
You may also read: Crypto news summary: Boris Johnson, Voyager and Celsius
One individual provided a liquidity pool (LP) with over $8 million worth of wrapped bitcoin (WBTC) and USD Coin (USDC) and unknowingly interacted with the phishing message. The attacker successfully took over the wallet, left the positions of the LP, and transferred the tokens to other wallets.
Binance turns five years old
While Bitcoin has been live for more than 13 years, Binance has only turned five years old. Currently, Binance is the leading crypto exchange in the world, with international impact in many directions. Binance Coin (BNB) is in the TOP 10 cryptocurrencies according to coinmarketcap, and it has a $39 billion market cap at the moment. Its stablecoin, Binance USD (BUSD), is one of the best, and they also have a Binance NFT marketplace.
Furthermore, Binance has its own credit card and partnerships with sports legends like Cristiano Ronaldo or influencers like Khaby Lame. Binance is only five years old and has already influenced the world in many directions. What will it achieve in the next five years?
Mastercard supports crypto adoption in Indonesia
A well-known traditional company Mastercard has partnered with Fasset, a crypto gateway provider, to help develop digital solutions that may boost crypto adoption in Indonesia. The cooperation aims to expand the country’s financial inclusion and opportunities for its economy and people.
“Our partnership seeks to lower the barriers to digital finance and drive greater opportunities to benefit from the use of emerging financial services,” said Hendra Suryakusuma, an executive at Fasset.
Opensea lays off 20% employees
The strong bear market made many big companies like Celsius, BlockFi, or 3AC rethink their employee structures; lately, even Opensea joined and is laying off 20% of its employees. Opensea is reasoning this decision by an unprecedented combination of the crypto winter and widespread macroeconomic instability.
Yankees offers Bitcoin payment
The American professional baseball team, the New York Yankees, revealed important information to its employees. From now on, employees have an option to be paid in Bitcoin following the most recent cooperation between New York Digital Investment Group (NYDIG) and NYY. The Yankees choose NYDIG as their official Bitcoin payroll platform, enabling the team’s employees to accept Bitcoin as payment for services rendered.
The crypto winter continues, and many companies are laying off their employees, but there is also some good news from Mastercard, Yankees, and others who drive the future of crypto adoption.
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