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Early this morning, blockchain protocol Chainlink shared a release outlining its plans following Ethereum's merge upgrade. The platform revealed that it will cease to support the forked versions of the Ethereum chain. Chainlink Stands With the Ethereum Foundation Over the past few weeks, the Ethereum blockchain has been getting ready for its long-awaited shift to the proof-of-stake consensus mechanism. The network’s core devs have dubbed it the merge and set a tentative launch date in the middle of September. Ahead…

Tornado Cash is the latest crypto mixer to join the US Department of Treasury’s list of sanctioned organizations. The Department shared the news in a press release on Monday alongside other details of the sanction. In its release, the US Treasury highlighted Tornado Cash’s role in several stolen crypto launders as its primary reason for the sanction. Tornado Cash and Cybercrime Tornado Cash is the second service platform to have received a sanction from the Treasury’s Office of Foreign Assets…

Holdnaut – a Singapore-based yield generation platform – is the latest crypto company to indefinitely freeze user deposits and withdrawals.  Hodlnaut in Trouble In an announcement on Monday, the firm stated that recent market conditions have forced its hand in order to stabilize its liquidity. The pathway to eventually resuming user withdrawals, it claims,  “will not be a short process.” “We would like to reassure you that this difficult decision was taken for us to focus on stabilizing our liquidity…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,094 trillion. Bitcoin has dropped by nearly 3% this week. Ethereum lost almost 1% over the past seven days. XRP is down by nearly 5% this past week. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector maintains the total value protocols (TVL) at around $40 billion. Crypto…

Tesla founder and CEO Elon Musk reaffirmed his support for the Doge ecosystem in a Friday interview on the Full Send Podcast. Musk who has always been vocal about his preference for the meme token rehashed his reasons for this.  According to the billionaire, Dogecoin has a far greater transactional capacity than king crypto Bitcoin.  DOGE Is a Better Choice in the Long Run Musk highlighted the transaction times of either blockchain to support his argument. Bitcoin processes transactions in…

The Slope Wallet team has promised a 10% bounty to the anonymous hacker who compromised several thousand Slope users’ wallets earlier this week. In return, Slope would like the hacker to return the other 90% of the stolen goods.  A Promise of Safety In a statement on Friday, Slope called on the hackers to examine its bounty offer for the safe return of user funds. It offered a Solana address to which to send those funds, which is yet to…

Initial Metaverse Offerings (IMO) allow businesses to raise money by issuing tokens on the blockchain. IMO offers investors a chance to get on the ground floor of exciting new projects. In addition, you may provide businesses with the capital they need to get started through an IMO.  This guide will explore what IMO are, how they work, and what you need to know before investing in one. What Are Initial Metaverse Offerings (IMO)? Initial Metaverse Offerings allow blockchain companies to…

During a recent Korea-based tech conference, BUIDL Asia, Vitalik Buterin shared his views on the future of stablecoins.  In his statement, the Ethereum co-founder asserted that centralized assets such as USDC and USDT could play key roles in certain prospective hard forks.  How Centralized USDT Could Tie into Hard Forks The event took place on Wednesday, August 3rd, and saw Buterin in attendance to speak about Ethereum’s approaching update, the Merge. Illia Polosukhin, co-founder of Near Protocol was also present…

Muse will launch its latest album, "Will of the People," as a limited-edition NFT on Polygon-powered platform Serenade on August 26. The world-famous British rock band will establish a premiere in the UK and Australian charts by releasing the first-ever, entirely NFT music album. Moreover, the release will only feature 1,000 copies available globally at £20 (around $24.50) apiece. In return for their money, fans will get the band's ninth studio album as a downloadable, high-res FLAC version. Each copy…