Ethereum rises before the merge

According to Ethereum founder Vitalik Buterin, the transition from proof-of-work to proof-of-stake is still anticipated to occur between September 13 and 15. The price of Ethereum is rising ahead of this event, up more than 4% today.

More market movers from category

Vitalik Buterin expects others to use PoS

All blockchains, including Dogecoin and Zcash, according to Ethereum co-founder Vitalik Buterin, should switch to proof of stake. Vitalik believes that now that the Ethereum merge is complete, other blockchains should follow.  “As proof of stake matures, I expect it to just increase in legitimacy more and more over time,” said Vitalik.

Binance creates Global Advisory Board

Binance announced the creation of its new Global Advisory Board. Its purpose will be to advise Binance on some of the most complex regulatory, political, and social issues the cryptocurrency industry faces amid the rapid growth and evolution of the ecosystem.

Societe Generale goes crypto

Societe Generale has provided additional services for its asset manager clients to meet the growing demand from investors for cryptocurrencies. The services will give asset managers the ability to provide crypto funds in a straightforward and appropriate way inside a framework that complies with European legislation.

MicroStrategy bought more Bitcoin

MicroStrategy bought an additional 301 bitcoins for $6.0 million at an average price of $19,851 per BTC. As of September 19, the company holds about 130,000 BTC acquired for $3.98 billion at an average price of $30,639 per Bitcoin. Their investment is down approximately 33%.

Wintermute hacked for $160 million

According to a tweet from the CEO of crypto market maker Wintermute, the company lost $160 million in a hack. Reportedly, the company got hacked in its DeFi operation. However, lending and OTC services provided by the company are unaffected.

Do Kwon is being chased by prosecutors

Do Kwon’s claim over the weekend that he is not on the run was disputed by South Korean prosecutors, who also requested Interpol to issue a red notice against the creator of Terra Luna. The prosecutors claim they have solid proof that Do Kwon is on the run and asked Seoul’s foreign ministry to withdraw his passport.

More market movers

Vitalik Buterin expects others to use PoS

All blockchains, including Dogecoin and Zcash, according to Ethereum co-founder Vitalik Buterin, should switch to proof of stake. Vitalik believes that now that the Ethereum merge is complete, other blockchains should follow.  “As proof of stake matures, I expect it to just increase in legitimacy more and more over time,” said Vitalik.

European stock indices tumble

The sell-off on major European markets continues on Friday as investors fear the tightening wave of monetary policy would harm global growth. After dropping below 400 points on Thursday for the first time since January 2021, the STOXX 600 is down approximately 0.7%. DAX 40 is down 0.8%, setting a new two-month low.

PMI falls in several countries

Eurozone Purchasing Managers’ Index (PMI) fell to 48.9 in September of 2022 from 49.8 in August, and Germany Services PMI also dropped to 45.4 from 47.7. UK Services PMI also falls from 50.9 to 49.2, but France surprises with a rebound from 51.2 to 53.

Lumber is down 70% in 6 months

The housing sector is witnessing a dramatic slowdown and rising rates. As a result, lumber futures fell by 7% to $450, a level last seen in September 2021 and down nearly 70% from their March peak. In addition, August saw the seventh straight month of existing house sales declines, reaching their lowest level since May 2020.

EUR/USD below 0.98

The eurodollar fell under $0.98 for the first time in 20 years. This is just two days after Fed increased its interest rates by 75 bps and strengthened the dollar.

Binance creates Global Advisory Board

Binance announced the creation of its new Global Advisory Board. Its purpose will be to advise Binance on some of the most complex regulatory, political, and social issues the cryptocurrency industry faces amid the rapid growth and evolution of the ecosystem.

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