Day: September 8, 2022

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DeFi DApps activity rises 3.7% in August for first time since May — Report

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DeFi dapps showed a slight recovery for the first time since May, with the daily average of unique active wallets (UAWs) increasing 3.7% on a month-over-month basis, according to a report from DappRadar.  The rise was partially driven by the Flow protocol, which rose 577% UAW due to Instagram’s support of its NFTs and the game Solitaire Blitz. On the other hand, Solana UAW shrank by 53% in August from the previous month, while transactions dropped by 68%, the findings showed. There were 1.67 million unique wallets connected to blockchain DApps in…

US Treasury to Recommend Issuing Digital Dollar if in National Interest: Source

“Unlike private digital assets, a CBDC issued by the Federal Reserve would be backed by the full faith and credit of the U.S. government, like the dollar bills in our wallets,” said Rep. Maxine Waters, (D-Calif.), the chairwoman of the House Financial Services Committee, in a statement earlier this year. She said a digital dollar could “hold the promise of deepening financial inclusion for underserved communities as more economic activity moves online.” Source

It’s Time to End Maximalism in Crypto

As new layer 1 blockchains have popped up, we’ve seen the concept of maximalism shift to include individuals that believe their prefered chain (and only their chain) is the future of digital finance or web infrastructure. This includes niche maximalists such as smart contract or EVM (Ethereum Virtual Machine) maximalists, as well as more specific maximalists, such as Ethereum or Cardano maximalists. Source

Bitcoin Mining Threatens America’s Climate Change Efforts, White House Science and Tech Department Says – Bitcoin News

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The Biden administration is concerned about digital currency mining operations affecting climate change, after the U.S. Office of Science and Technology Policy published a report that says politicians should take action against crypto mining. The federal government’s entity recommends the Biden administration should encourage more research about mining’s electricity consumption and codify public policy for the entire mining industry. Office of Science and Technology Policy Report Claims Something Needs to Be Done to Stop Crypto Mining Pollution According to the U.S. Office of Science and Technology Policy (OSTP), bitcoin mining…

Crypto investors backed by Coinbase sue U.S. Department of Treasury after Tornado Cash sanctions

According to a new lawsuit filed in the U.S. District Court, Western District of Texas. On Thursday, six users of the Ethereum blockchain and cryptocurrency mixer Tornado Cash sued the U.S. Department of Treasury, alleging that its recent designation of 44 Tornado Cash smart contract addresses to the Specially Designated Nationals (SDN) list of the Office of Foreign Asset Control (OFAC) is “not in accordance with law.” Since Aug. 8, U.S. persons and entities have been prohibited from interacting with the sanctioned Tornado Cash smart contract addresses, blockchain or business-wise,…